Gold
I always like to check how gold appears on the chart when priced in another currency. In the above chart I compared Gold priced in U.S. Dollars to Gold priced in Japanese Yen.
Notice back in the summer of 2005 how gold priced in Yen broke out to new highs before gold priced in U.S. dollars did. Right now we are seeing the same thing happen. Gold priced in Yen is breaking higher while our gold market isn't even close to the high from May. If history repeats, our gold market should break to new highs as well in the coming months.
Posts
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
4 comments:
Hi H.lovil,
Yes I still have EEM short but not a big position..Trades against the trend I always do much lighter than my normal position..My stop is above the high..
Hi Howard..
Glad you like this post...Thanks
Excellent chart work, Kevin. I am impressed by the manner in which you are maintaining the consistently high level of content here.
Thanks Bill
Kevin
Did you notice the IWM today failed to keep pace with the other indexes under heavy volume. Maybe because of option expiration.
http://stockcharts.com/h-sc/ui?s=IWM&p=D&yr=0&mn=6&dy=0&id=p26196168388&a=80208553
Post a Comment