The clear sign of a bull or bear market is that it is visible in nearly all currencies.
Here's gold priced in Australian dollars. If gold were to rally back to January levels ($1300) with no change in the AUDUSD exchange rate, it would break the 2011 high.
If the same scenario plays out in Canadian dollars, a new 52-week high will be made.
A similar rally would push gold near recent highs in the euro and yen.
The weakest chart is in dollars.
Gold recently made a new low in dollars and this trend is being driven by currency weakness more than strength in gold. If currencies continue to weaken, the rise in gold needed to trigger a breakout will fall. I expect overseas investment demand to move higher in the coming months.
Ford Loses $132,000 on Each EV Produced, Good News, EV Sales Down 20 Percent
-
Ford (F) reports a huge loss on every EV. Sales are down 20 percent holding
the losses to $1.3 billion.
No comments:
Post a Comment