• 746 days Will The ECB Continue To Hike Rates?
  • 746 days Forbes: Aramco Remains Largest Company In The Middle East
  • 748 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,148 days Could Crypto Overtake Traditional Investment?
  • 1,153 days Americans Still Quitting Jobs At Record Pace
  • 1,154 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,158 days Is The Dollar Too Strong?
  • 1,158 days Big Tech Disappoints Investors on Earnings Calls
  • 1,159 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,160 days China Is Quietly Trying To Distance Itself From Russia
  • 1,161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,165 days Crypto Investors Won Big In 2021
  • 1,165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,166 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,168 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,173 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,173 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,175 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

readtheticker

readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

Contact Author

  1. Home
  2. Markets
  3. Other

Extreme Moves in the USD Do Not Hurt Gold

Cappuccino Dollar Sign

Well for the last decade, anyways!

Chart below is a weekly chart of GLD and DXY.

As shown below powerful moves in the USD (DXY) do not send gold crashing. The USD looks like it is completing a A-B-C correction. Once the C is done, and the DXY falls, gold will do well. How much longer for the DXY? The strong rally may last 3 to 5 weeks more, and then will stall and start to consolidate, what happens after that will be very interesting.

The main point is that US dollar strength is not trashing the gold trend, this is good relative strength and shows bulls defending the long term trend. When excitement runs out for the DXY the GLD will do well.

A note to members, we must see strength enter the gold market and a confirmed sign that behavior has changed from selling to buying.

weekly chart of GLD and DXY
Larger Image

 

Investing Quote...

"Vibration is fundamental; nothing is exempt from this law; it is universal, therefore applicable to every class of phenomena on the globe." ~ William D Gann

"It's easier to fool people, than to convince them they have been fooled" ~ Mark Twain

 


NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

 

Back to homepage

Leave a comment

Leave a comment