Two weeks ago gold broke higher through the long-term declining downtrend which has defined the period of falling prices since 2011. That year, gold peaked at $1,923 per ounce, while silver peaked just shy of $50. Over the past six years, despite many attempts to gather momentum to the upside, gold has been unable to
In Part 1 of this series last week, we examined the relationship between the Japanese yen and gold. We showed that both yen and gold have been highly correlated since 2011, moving closely in tandem during both corrections and surges since their respective peaks nearly six years ago. As precious metals investors, what are we
In past articles, we have discussed the generally-antagonistic relationship between gold and the US dollar. Still to this day the world’s reserve currency, as precious metals investors we must always keep a close eye on the value of the dollar, as gold stands to be a primary beneficiary if in fact the dollar ever loses
It is important for precious metals investors to follow the valuation of the US dollar versus other foreign currencies because as a general principle, being the world’s reserve currency still to this day, when the dollar sees periods of rapid decline investors tend to seek safety… and some of that safety flow will move into
Gold and silver have recovered moderately over the past two weeks, yet still remain within the confines of the ongoing consolidations we have been monitoring over the last several months. For the week, gold rose 2.2% or $27 to close at $1,255 as of the final trade on the New York COMEX on Friday afternoon.