As the gold price rallies, it maintains its trends to rallying global currencies
The relative trends in the gold price to major currencies range from neutral with a positive bias to neutral with a negative bias (2nd chart below).
While global currencies have been bouncing hard on the US dollar correction…
…the gold price has been bouncing as well, and it is also rising in the short-term in relation to those bouncing currencies. Not a bad picture for gold on balance, in my opinion.
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