US Dollar Gold Ratio
If the Dollar-Gold ratio breaks support, this will be as important as gold breaking trendline!
https://www.kimblechartingsolutions.com/2017/06/gold-indicator-nears-first-buy-signal-6-years/
If the Dollar-Gold ratio breaks support, this will be as important as gold breaking trendline!
https://www.kimblechartingsolutions.com/2017/06/gold-indicator-nears-first-buy-signal-6-years/
That looks like one very important chart – a breakdown would really confirm golds breakout, and set the stage for a resumption its bull market.
Just had a look at the CHF/USD ratio Alex (as referenced in the article you linked). As it says, every time it hits upper resistance, gold is flat to down for years. We’ve just seen that since 2011. The ratio has decisively broken out of a bullish descending wedge (just like many times in the past) and looks like it’s about to embark on its journey back up to the resistance line (currently about 40% above where we are now ie. currently 1.03, and resistance is near 1.4). This is another bullish factor for PMs. I’ve posted the updated chart for you.
this broke last Friday on the weekly close. so its past tense now.