Avocado’s Advocate
Avocado Pit our resident gold permabear sent me a chart and asked me to update it in response to Northstar’s US Dollar post. He doesn’t have a Stockchart subscription anymore .
I do have a similar chart which I constructed last year …Its the long term USD in Log form.
It is actually quite striking.
I call it ” BOINK”
This chart was inspired by an infamous Rambus (from 2013) chart which he postulated a fractal to be played out in the dollar.
Anyhow Its one that keeps me cautious on Gold. It’s very Bullish IMO and that’s why I say we need Gold to rise WITH the Dollar
Thank you! I bookmark this every time I see it just to remind me of why I’m so suspicious of the bullish case for gold.
Thanks for reminding Avocado
I agree. A fantastic chart to keep emotions in check. The main thing that counts against it is the time factor. However, it is a possibility, targeting somewhere in the 120 region. Focusing on gold – there is nothing to get excited about until we break through the $1400 region.