Commodities Analysis & Opinion

Bullish Message for Gold Investors Only if This Ratio Breaks out

 

XAU/USD
-1.28%

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Gold
-1.28%

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DXY
+0.67%

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Gold prices remain elevated but have yet to record the major breakout that gold bulls are looking for.

Today, we revisit an important Gold ratio that we have been following for months: the Gold to U.S. Dollar ratio.Gold/USD ratio
And above, you can see why.

Gold prices remain elevated but have yet to record the major breakout that gold bulls are looking for.

Today, we revisit an important Gold ratio that we have been following for months: the Gold to U.S. Dollar ratio.

And above, you can see why.

The long-term “monthly” chart has revisited downtrend resistance several times, failing to produce a decisive breakout.

It first hit resistance 3.5 years ago at (1). And it’s back again for the 4th time.

Source

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