Gold v. Currencies
Figure 1 is a concept that I have put forward before, and it is gold's performance relative to a basket of 8 currencies.Those currencies are: 1) Australian Dollar; 2) Canadian Dollar; 3) Swiss Franc; 4) Eurodollar; 5) British Pound; 6) Singaporean Dollar; 7) Japanese Yen; 8) US Dollar. This is a weekly chart. Relative to other currencies, gold is starting to outperform, and the indicator has turned positive after about 10 months of underperformance.
Figure 1. Gold v. Currencies
Two other factors in gold's favor that have been discussed in this blog over the past 4 months are: 1) the Dollar has a high likelihood of unraveling (and it is!); 2) gold is on a launching pad that should result in a strong secular move.