Gold Charts In Multiple Currencies: Should You Get Into Gold

Gold Charts

Yen Gold Charts

Before looking at Gold and where it might head to let’s look at how Gold is faring in multiple currencies. If this bull has legs, then it should be trending higher over a basket of currencies.

 

When one takes a look at the charts of Gold in various currencies, the first thing that comes to mind is that  Gold is performing very well in certain currencies. For example the Yen, Sweedish Krona and the British pound.  What do all these currencies have in common, they are all under pressure, in other words, economic or socio-economic factors are pushing them lower.

The same pattern can be seen if a chart of Gold price in Yuan is put up.  This is yet another clear confirmation that the currency wars we spoke of years ago are alive and thriving.  Now that negative rates are back in play, Gold should hold up well, but it will not be the best performing market for one simple reason.   Most of today’s crowd is no longer familiar with the concept of hard money and therefore Bitcoin is likely to fare better, but bitcoin is also just another fad. The best plays will be stocks in the AI and tech sector.

Sweedish Krona Gold Charts

 Euro Gold Charts

British Pound Gold Charts

US Dollar Gold Charts

Gold or Silver: which one is better

Gold and siliver chart ratio

The Gold-Silver ratio indicates that Silver makes for a better investment than Gold and it silver could trade as high as 38 with a possible overshoot to the 45 to 51 ranges.  As for Gold, it needs to close above $1500 on a monthly basis; if it can achieve this then a test of the 1740-1800 ranges is possible with an overshoot to as high as 2040.

 

Random thoughts on the Precious Metals Bull

Who made the most money during the Gold rush period in America? The guys who sold shovels to the masses who were desperately hoping to hit a home run. Why do we mention this? Well, sadly, the same technique is being applied today. The same guys are funding both the left and right.

The game plan is to keep them divided so that they can milk them both.  One can say the same thing about wars it’s the arms dealers that make out like bandits; the masses are the ones that are fleeced.  Furthermore, gold like all sectors goes through bullish, bearish and the so-called do-nothing phase. The do-nothing phase is where the markets trade within a range, essentially doing nothing.  Therefore do not fall in love with gold, hold it until the trend ends and then move into another investment.

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