Tuesday, August 16, 2016

Gold Against Foreign Currencies - Bullish
Article highlights how gold is doing its thing - preserving value relative to fiat currencies .. "If Gold is going up only because of a falling US$, that is a US$ bear market, not a Gold bull market. A Gold bull market is Gold rising against the majority of currencies. In the same vein, a Gold bear market is Gold falling against the majority of currencies. The charts show that actually ended well before the final low at the end of 2015. On the mining side, most Gold and Silver comes from outside of the USA and many (but not all) companies are exposed to foreign or local currencies and not the US Dollar. Many companies in Canada and Australia bottomed a full year ahead of the sector because the Gold price in those currencies was very strong (even though Gold in US$ had yet to bottom). Summing it up, Gold’s strength in foreign currencies confirms its global bull market status and provides a hint that more gains for Gold in US$ terms are likely ahead. We view any weakness in the weeks ahead as a buying opportunity. For professional guidance in riding the uptrend in Gold, consider learning more about our premium service including our favorite junior miners which we expect to outperform in the second half of 2016."
LINK HERE to the analysis

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