Gold is doing better than the world’s major currencies

Chart Watchers/John Murphy/7-12-2019

“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

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