Gold is the weaker link against all currencies shown in the intermediate term. I see absolutely no reason to be long gold against anything, yet. If anything, I prefer to be short.
Commentaire:
Pound broke the TL once again against gold. All foreign seem to be on their way to strengthening further. This is really interesting because normally gold goes lower against the US dollar. Gold is clearly weakening here against foreign currencies a lot more than domestic (US). Ultimately this spells trouble for gold, because now gold essentially depreciates whether dollar strengthens or weakens...