Gold in global currencies, looking good

Gold price is trending up vs. major global currencies

The corrections will come to the nominal gold price, but a real bull market will need participation vs. all major currencies and that is what is happening currently. Gold is even handily outperforming CHF/USD (Swiss Franc), to which the nominal gold price has a positive correlation.

The exception is the Japanese Yen, which got clobbered in 2022 and is on a strong rebound. Gold/Yen is in a long consolidation of a bullish move. This is a daily chart but a weekly chart would show constructive to bullish on balance vs. global currencies as well.

The gold price as adjusted by major currencies

For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.