The best news for gold today is that it did not have to rely on dollar strength to add a few more bucks to its value. More good news is that it crossed some technical thresholds and appeared to be eyeing the crucial 1200 mark.

After the hubbub over the possibility of an announcement of an interest-rate increase in the previous two weeks, since the March FOMC meeting ended, gold has been the beneficiary of a diving dollar.

Gold is about $6 off its high for the day now in late afternoon trading. Any gain the yellow precious metal has seen for the day is due to a weaker dollar.