Precious Metals Update 2/8/10 – Professional Edition
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Same comment as before.. gold isn’t going down (much) for me. I’m is sterling . Bet it looks quite good in Euros. Do you chart gold in other currencies?
Just in dollars. Sterling has been weak of course. As covered in the Fed Report, the dollar has come out of a very impressive bottom, with long term bullish indications. That doesn’t bode well for sterling, or for gold at the moment, but things can change which is why I revisit the analysis daily.
Would it be a good idea to chart in the currencies where lots of people actively buy and hold gold” India and China ?
China is still pegged to the dollar. The rupee would matter for people that live in India. I guess it all boils down to the fact that everything is relative. Gold is priced in dollars, then converted to the local currency. 90% of my subscribers’ local currency is the US dollar so that’s where I focus.