My fellow Steemians,
The Gold Price has suffered the last few months due to an increasing USD. There is a strong correlation between the gold price and the usd.
What most investors don't know is that the gold price also has a strong correlation with the Swiss Franc.
On this chart from Kimble Charting you can see that the Swiss Franc has touched an important support line, which it hold for already 15 years. Also Gold has reached an important support line.
The breaking of the support line of the Swiss Franc, also could have consequences for the price of gold.
This could mean a drop of 15% for as well the Swiss Franc as for Gold!
Thank you for reading!
https://slimbeleggen.com/trends/kan-de-goudprijs-met-nog-eens-15-dalen/
I learnt that gold and the USD are negatively correlated but I think that is what you are saying as well. Dollar up - gold down....
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Yes, that is exactly what to where I was referring. Thanks
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thanks for latest info. @chinchilla
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