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Tuesday, January 22nd, 2019 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Nominal Gold: Gold vs. Currency, Commodities & Stock Market

Despite the pervasive bearishness in broad markets as well as the gold sector, gold
remains too far above its weekly EMA 30. It is due for a correction, all the way down to
the low to mid 1400’s (written sarcastically). This would be in keeping with the lovely
and orderly MACD consolidation highlighted in yellow.

Gold in various currencies is in various shades of bullish. That is because we are, in slow
motion, watching these paper promises fail to store any value whatsoever as governments
routinely do to their paper whatever is needed for political expediency. Governments
keep telling their citizens that they care about and support their respective currencies as a
way of maintaining confidence, diminishing though it is. Gold is the only commonly
accepted monetary refuge from the ongoing abuse of the various debt notes of the world.

Gold vs. Commodities & Stock Market

Above is of course, a variation of our most important chart for the gold mining
fundamental case. Gold-CCI maintains a break above resistance (now support), and gold
has broken trend lines in oil, industrial metals and the S&P 500. In fact, the weekly
AROON oscillator (not shown) has gone positive on gold in relation to all markets noted
above except crude oil. Gold is now in a weekly uptrend vs. commodities, therefore,
gold mining fundamentals are in an uptrend.

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