Thursday, December 18, 2014

Fascinating Chart Action on Dollar and Gold

I find the chart action in the US dollar (as tracked by the UUP fund) and gold (as tracked by GLD) fascinating. I'm kind of a geek that way, but see if you find it interesting.

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(Updated chart)

Here's the thing. We can all see the U.S. dollar looks poised to go to new highs. That should happen, unless emerging markets like Russia make a miraculous recovery, Japan finds a recovery concealed in its kimono and Europe finds that recent deflation is all just a bad dream.

However, while the dollar pushes to new highs, gold is off its lows. It hasn't even tested low it made back in November. How do you like them apples? What does it mean? Hmm...

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