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Is Dollar Strength Another Negative For Gold?

  • Written by Syndicated Publisher No Comments Comments
    November 13, 2013

    For many years we have advised those who would time gold to be sure to include technical indictors on the dollar in their analysis. Gold has a long history of most often (but not always) moving opposite to the direction of the dollar.

    The dollar bottomed in early 2011, and began to rally sharply. Gold topped out at its record high of $1,900 an ounce a few months later in 2011.

    Gold managed a rally in mid-2012 when the dollar sold off in 2012.

    When the dollar resumed its rally during this past winter that pretty much coincided with gold’s big further plunge to its low in July.

    And the decline in the dollar in July pretty much coincided with gold’s latest rally attempt.

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    So the dollar’s recent strength and attempt to rally is probably not a good sign for gold.

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    To read my weekend newspaper column click here: Don’t Worry So Much About Government Debt

    Subscribers to Street Smart Report: In addition to the charts and commentary in the secure area of today’s blog, the new issue of the newsletter will be out tomorrow in your secure area of Street Smart Report.com 

    Images: Flickr (licence attribution)

    About The Author – Sy Harding, Street Smart Report

    Sy Harding publishes the financial website Street Smart Report Online and a free daily Internet blog at Sy’s Free Blog. In 1999 he authored Riding The Bear – How To Prosper In the Coming Bear Market. His latest book is Beat the Market the Easy Way! – Proven Seasonal Strategies Double Market’s Performance!

    It includes our research and analysis on the economy and markets, and provides charts and buy and sell signals on the major market indexes, sectors, bonds, gold, individual stocks and etf’s, including short-sales and ‘inverse’ etf’s.

    It provides two model portfolios as guides. One is based on ourSeasonal Timing Strategy, one on our Market-Timing Strategy.

    In depth updates are provided every Wednesday, with interim ‘hotline’ updates every time we make a trade. An 8-page traditional newsletter Street Smart Report is provided on the website every 3 weeks, in pdf format for viewing or printing out.

    There is the Street Smart School of online technical analysis ‘seminars’,commentaries to keep you ‘street smart’ about Wall Street, and much more. 

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