Thursday, July 16, 2015
gold price ex-US, gold-dollar correlation both look interesting
Here's some gold chart perspective for you.
Gold in euros:
Not doing anything at all. Whatsoever. Snoozefest. Since June.
Gold in loonies:
Slight uptrend. Definitely doesn't look crashy, more like bottomy.
So why is gold doing "down"? Because:
The market is going short gold in USD. Maybe expecting another pop in the US dollar as the September rate increase draws near?