Gold in Foreign Currencies

Most of the time I report golds price in US dollars, even though it is not my currency. Two days ago I noted that the price of gold in the pound, the Euro, the Canadian dollar, the Aussie dollar and the yen was quite strong.

Today I saw a chart of gold the US dollar and then in all these other currencies combined and I thought you might like to have a look. It shows gold as stronger in the other currencies. It also shows we have just bounced off the 200 day moving average.It also shows that gold has held its own on a rising US dollar, which is another sign of strength. The US dollar looks like taking a rest for the next 5 weeks so this will give another boost to gold.

God bless

Kevin

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