Loading ...Gold versus the world…
When my faith gets shaky on a pullback… I just forget about just gold expressed in US dollars and look at gold versus the BIG 7!
XAUUSD+XAUCAD+XAUAUD+XAUGBP+XAUNZD+XAUJPY+XAUEUR
I’ll think about taking exiting once I hit that target…
Adding the gold silver ratio for world currencies…
XAUUSD/XAGUSD+XAUCAD/XAGCAD+XAUNZD/XAGNZD+XAUAUD/XAGAUD+XAUEUR/XAGEUR
Adding 3 charts.. gold expressed in Indian Rupee…
… gold expressed in Russian Ruble …
… and gold expressed in Chinese Yuan…
Basically these countries currencies are declining against USD.
“Big 7” missing are 3 big ones their CBs are buying gold. China, India and Russia.
If you are not in US than it makes sense to bail out at the target. As long as dollar stays strong against world currencies XAUUSD will trail.
IMO
Hey Bikoo!
What I was trying to say is that I need to remember fiat currencies are doomed to fail, hence gold’s value will demonstrate that.
Now, if you want an easier path to a profitable gold trade (if you don’t have an Oanda account), then you can buy gold in usd and short the currency that’s weakest for the same amount. You’ll end up with one of those non-usd currency gold charts. No overhead resistance, clear skies to targets. Ex. Gold expressed in Great British Pound is a pair that did very well in the 2008 downturn.
Regards,
Patrick
Thanks Patrick.. Cool!! How do you average on chart “/number of currencies” ???
Keep us updated.
I didn’t even average down, just a sum. Same graph, different value on axis though… I could of also done a search on goldtent.. Northstar has done quite some work exposing the failing currencies vs gold already! https://goldtadise.com/?s=wcu
Wow thats an amazing new process.
add up all the Gold:Currency values and average them.
Cool
Thanks Fully. The magic is tradingview.com’s charting… permits basic arithmetic on tickers… really cool! Expands possibilities.
Fully, I didn’t average them, just added up. I’ll see if I could average them, and get a smaller number on that axis.
I did yes it works.
Sample equation: (XAUEUR+XAUCAD+XAUAUD)/3 in ticker block.
It plots average price.
Sweet! Soo many things now we can do!
All we need is a closed end etf which leverage gold in various currencies against lingering gold in USD. Other currencies not going to get stronger than reserve currency USD.