Gold is doing better than the world’s major currencies
“Gold recently rose to a six-year high on falling U.S. interest rates which have weakened the dollar (aided by a more dovish Fed). So gold is rising in dollar terms. The true hallmark of a bull market in gold, however, is its ability to rise relative to other major currencies. And it’s doing just that.”
USAGOLD note: Murphy says all the top currencies are losing value against gold and says that “global traders have turned to gold as a new store of value. . .” We made reference to this article and yesterday’s DMR. It includes a couple of interesting charts that affirm Murphy’s criteria for a bull market.
Repost from 7-15-2019