Gold as measured in major currencies (and a digital speculation)
It’s not a major consideration of mine as far as precious metals indicators go. I think it is an overrated indicator from the past. But here is the state of gold vs. the debt-supported, intrinsically valueless paper/digital (funny) munny (daily charts) issued by governments and for comic effect, the new speculative crypto whiz kid.
These ratios are obviously of interest to citizens of the countries/zones over which a given paper unit is the munny of the land. Plus Bitcoin, which is the munny of the global server.
Gold/USD Index is in a disgusting downtrend. Of course, when this pair (also known as the 2 Horsemen of the macro Apocalypse) finish their ride gold will start to recover in relation. But not now. Patience aplenty please.
Gold/Euro is clinging to an uptrend.
Gold/Canada Dollar is trending down. Gold has more work to do against commodities and commodity currencies.
Gold/Aussie Dollar, see above.
Gold/Japanese Yen shows what we’d want to be seeing in all currencies. A fine uptrend after a long consolidation at the SMA 50.
Gold/British Pound looks much like Gold/Yen prior to its recent break upward.
Gold/Swis Franc is weak and since the Swissy has a reputation (and probably not a lot more) for being historically more sound than the others it would be a good sign one day that ‘paper’ currency confidence is draining when gold flips bullish vs. CHF.
Finally, for a look at the the digital currency that would have conquered the US dollar hegemonic dominance in the currency world, ah… no. Even [currently] lowly gold is trouncing Bitcoin, which is as we’ve been labeling it in NFTRH all along, still a massively hyped speculation (and burst bubble), regardless of its future potential.
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