Depending on where you reside and denominate your assets, your view of gold is currently as follows, per the cool and highly interactive TradingView chart at Biiwii. See and use it here for handy reference on a ton of stocks, markets and ratios (it’s even got the Gold/Silver ratio).
XAU/USD is still in its intermediate uptrend.
XAU/EUR found resistance (March lows) at 1130 and shows no reason why Europeans would be clamoring to buy gold right now (if using it as a pricing play as opposed to a long-term value play).
XAU/CHF is not quite as bad, but not good either. This is a view of relative quality asset vs. what people think of as a relative quality currency (not sure how accurate that is anymore).
XAU/GBP is bouncing off a potential double bottom, with lateral resistance in and around 980.
XAU/CAD says that Canadians should be valuing gold’s ability to maintain purchasing power, as various bubbles up there become more precarious.
XAU/AUD, like XAU/CAD above is a measure vs. a commodity/resource currency vs. gold. These two are not looking favorable for an imminent ‘inflation/reflation’ trade.
XAU/CNY shows the China “Love Trade” (ha ha ha… ) to be intact. Promoters write stupid things like that to people who like easy to digest jingles, but sober market watchers simply note that gold is up trending for Chinese holders and tempting would-be Chinese buyers.
XAU/INR, the other half of the “Chindia Love Trade” is sideways at best. But the big breakout that has been due any moment now will certainly come with this Indian Wedding Season! And yes, that is sarcasm.
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