I know this is a little OT because it’s not technical analysis but…<\/p>\n
Kitco shows gold up 0.96% in US dollar terms at $1285.50 but up 1.63% in GBP terms at \u00a3906.79 British Pounds. The pound is down 0.66% against the US dollar, not disastrous but is at 1.4176 now at the lower part of its recent trading range.<\/p>\n
Gold is up in all 15 currencies shown on Kitco including the Japanese Yen. Gold is up 0.10% only in Yen because they Yen is also up 0.87% against the dollar, the strongest currency on that board today. Euro is down only 0.01% against the US dollar so that ratio is\u00a0flat basically and gold is therefore up in Euros.<\/p>\n
So this gold rally is probably not all about the Brexit vote.<\/p>\n
What is notable and NICE is that gold is above 900 GBP<\/strong> for the first time in about 3 years, since a brief re-visit there at the end of August 2013.<\/p>\n I see Mark’s posts, so I am feeling cautious at the moment, wondering whether to be ready to pull the plug as the Brexit voter looms. If it goes the government’s way, the Establishment wins and gold get a slamming I would think. However a silver stock I own in a small amount (Fresnillo) here on the London LSE is up yet again today.<\/p>\n","protected":false},"excerpt":{"rendered":" I know this is a little OT because it’s not technical analysis but… Kitco shows gold up 0.96% in US dollar terms at $1285.50 but up 1.63% in GBP terms at \u00a3906.79 British Pounds. The pound is down 0.66% against … Continue reading