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.
Figure 1. Gold v. Currencies/ weekly
Relative to other currencies, gold continues to outperform. The red vertical
line was the first positive reading from the indicator after about 10 months
of being negative. This was 10 weeks ago and gold was trading at $960 an ounce.
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