Gold futures fell Tuesday for a third straight session as worries about credit problems in Greece and Dubai helped the U.S. dollar extend gains, reducing gold’s appeal as an alternative to paper currencies. Source: Marketwatch
I have been considering UUP as a buy due to the low USD.
The investment seeks to track the price and yield performance, before fees and expenses, of the Deutsche Bank Long US Dollar Futures index. The index is comprised solely of long futures contracts. The futures contract is designed to replicate the performance of being long the US Dollar against the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
I think there is an inverse relationship with Gold and the USD. So far I have not pulled the trigger. We could see another bump in Gold prices and another hit to the USD.