Friday, December 16, 2016

Something For Gold Bugs

Today a nice chart for the gold bugs:

source: Simple Digressions

The chart shows that the very long - term trend line (the beginning in 2005), drawn by the gold dollar index, is still holding.

If anybody is not familiar with the gold dollar index - here is a definition:

“The GolDollar Index was invented by Tom McClellan (of McClellan Financial) and is calculated by multiplying the price of gold by the U.S. Dollar Index. Its purpose is to cancel the effects of currency fluctuations on the price of gold. By comparing it with the spot gold index we can determine if there is inherent strength/weakness in the price of gold”
As the chart shows, now we are very close to the trend line...

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