With the price of crude oil plunging 9 percent and investors unsure where gold and silver are headed from here, today King World News shares a fascinating piece which features four incredibly powerful illustrations about what is really happening with the price of gold. This shows an entirely different perspective than what the mainstream media is telling people.
Gold Price In Foreign Currencies
February 4 (King World News) – The global currency unsettlement is driving foreign buyers to gold as their respective currencies lose value, and particularly after the Swiss delink from the Euro.
For example, Gold in Euros has effected a defined lift, retracing nearly half of the decline (see Figure 29, left) as the Euro has weakened. Similarly, Gold in Japanese yen (see Figure 29, right) never did break into a bear market below the support (horizontal line), and may be poised to continue up.
Gold in the British pound (see Figure 30, left) has rallied minimally but retains the downtrend from 2011 as the pound itself has weakened. Gold defined in the Indian Rupee (see Figure 30, right) has been in a year plus consolidation above the uptrend.
Thus, depending on the currency, the demand for Gold carries different profiles.
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