Gold Bulls Pay Attention: Gold Indicator Hanging Onto Support By A Thread!

Published 03/22/2021, 10:24 AM
Updated 07/09/2023, 06:31 AM

Gold-US Dollar Ratio.

Is gold about to receive a very important bull/bear signal this month? It looks like it!

This chart takes a peek at the gold/U.S. dollar ratio over the past 15 years. The ratio double topped at (1). It broke support in 2013. It declined sharply over the next 24 months.

It peaked in August of last year at (2), where it appears to have created another double top.

The decline over the past seven months has it testing the 10-year support level at (3).

The gold/U.S. dollar ratio is hanging onto support by a thread this month. Gold bulls should be aware how important it is for gold that this support holds.

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