Gold/King Dollar ratio breaking short-term support

kimblecharting's picture

Gold has been weaker than King Dollar the majority of the time since 2011 highs. Gold has been stronger than King Dollar since Christmas of last year. Which trend is going to be the key trend over the next few months?

Below looks at the Gold/US Dollar ratio over the past seven years and highlights that an important price pattern is taking place-

CLICK ON CHART TO ENLARGE

The Gold/US$ ratio has remained inside of the blue shaded channel for the past three years. The rally since last Christmas has the ratio testing the top of this channel and three other resistance lines came into play at (1). Since hitting the top of the channel and triple resistance, the ratio has turned lower (Dollar stronger than Gold) and broken below steep rising support at (2).

Gold bulls would get caution/concerning message should further weakness at (2).

Gold bulls want/need the ratio to breakout above quad resistance at (1), to send a quality bullish message.

 

 

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Nostradumbass's picture

In other gold news:

 

 

September 25, 2017

Bogota, Colombia

Earlier today in Sri Lanka’s Colombo International Airport, a passenger was arrested by local authorities and found to have stuffed nearly $30,000 worth of gold into his rectum.

That’s nearly 1 kilogram of gold. In his ass.

The gold had been carefully wrapped in plastic and included four small bars and multiple chains of jewelry.  

Airport police were tipped off when they noticed the 45-year old man “walking suspiciously.” No sh*t, Sherlock.

And curiously this was not even close to the first incident of rectal gold smuggling in Sri Lanka. Just last week another passenger was found with 314.5 grams of gold stuffed inside her rectum. Amateur.

 

https://www.sovereignman.com/crypto/man-caught-smuggling-1-kilogram-of-g...

Silver Savior's picture

I don't know about all of you but I am tired of losing purchasing power in the dollar. Why not hold something that generally appreciates in value than one that does not?

zenon's picture

The Gold - US Dollar index (DXY) ratio is a bullshit indicator for anybody that can do grade-school math.

MFL5591's picture

What a fucking joke this is!  Who in the hell would ever believe succh utter nonsense except a country with uneducated people?

LawsofPhysics's picture

Complete bullshit. So long as fiat currency is accepted by the producers...

NOTHING changes. It will continue to be a slow grind to death for the vast majority of sheeple

 

"Full Faith and Credit"

Aquarius's picture

When Gold Bullion breaks out - the West Collapses

and that be soon, no matter what they try to manilpulate; IT's Too Late (She screamed).

 

Hahahahahahaha

 

ROFLOL

BobEore's picture

Err...

no actually - when the west collapses, 'gold breaks out.'

see what I did there?

International finance capital - o/a... Goldsmiths&Sons...
has long lusted for a measure of worldly power commensurate with its' financial heft. Always working behind scenes, as the force behind stooge leaders and strongmen, the Mammonites of the Maimonides kind were shy to show their faces before a world content to believe in the fictions of 'nation states' & empires.

No more. A new breed of talmudist taskmaster no longer tugs a forelock towards their goyish golems, in mock subservience. It's time, they've told themselves to go for the gold.... ALL the gold. Economic power is a pale aphrodisiac, compared to economic AND political power.

R Crumb(the cartoonist)used to draw cute pictures of what the future might look like... under such conditions. Some called him mad, others, just funny. One thing for sure... boy sure did luv them bigass gals!

http://www.booktryst.com/2011/02/original-r-crumb-art-keeps-on-truckin.html