Gold has spent the last couple of weeks consolidating its gains in what looks like a bull flag.
During the past few years there has been a good correlation between the Gold and CNH. The Chinese Yuan has been a good proxy for US Dollar relative performance and risk on / risk off flows. As the Dollar strengthens, USDCNH naturally rises and vice versa.
Both popular precious metals (gold and silver) posted key reversal days today.
Precious metals – and commodities in general – have experienced a strong boost in the past couple of weeks. Oil seems to have been leading the charge since mid-2017 but what do we make of this move?
2018 is nearly upon us and the past year was certainly full of interesting events. Potentially dangerous political events in the EU – such as the French & German elections and the Catalan independence referendum – were safely navigated.
Gold and Silver are assets which have been of great importance for thousands of years. Up until a few decades ago, gold was explicitly linked to currencies (such as the US$) and was broadly used as money.
Watch this comprehensive preview from Nicola Duke preparing you for what is coming ahead this week using her unique Harmonics approach and mesmerizing voice.