Click on picture to enlarge
When you look at few of the leading currencies around the world over the past 30-days, no doubt the U.S. Dollar is acting pretty strong, especially against the Euro.
If you add Gold and Silver to the currency battle, the Dollar doesn't look so strong recently!
When you compare the U.S. Dollar to Gold and Silver over the past 30-days, the clear winner in the currency battle is not the U.S. Dollar, despite it moving higher of late. As you can see from the chart above, the US$ has lost around 6% to Gold and around 10% to Silver!
The Power of the Pattern shared a couple of days ago that the Gold/Dollar ratio was turning up, despite recent strength in the Dollar! (see post here).
Click on picture to enlarge
Silver ETF (SLV) is facing a trio of resistance at (1) above. If it can break above trio, flows towards Silver could really pick up and keep Silver as the leader, when it come to the currency battles of late!
Comments
Log in or sign up to join the conversation.