Forex rate chart XAU USD

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There continue to be all sorts of purported analysts out there who insist that the price of gold is determined through physical supply and demand. These folks cling to the arcane gold forex chart that somehow fundamental factors are the key determinant of the daily price. They cite global mine gold forex chart, GLD flows and sovereign demand as their primary sources for this analysis.

Below is one of the original charts we posted back in November of Note that prior to The Great Financial Crisis ofthere was no clear correlation between the yen and gold.

If we bring this chart up-to-date and look at just the past four years, we see the result below. Upon closer inspection, however, it appears that a major shift has occurred gold forex chart Since late January, there has been a significant divergence in the yen-gold correlation. While the yen has steadily appreciated against the dollar, the price of COMEX gold has been flat and has not kept up. Where the yen-gold correlation had been tight on a nearly tick-for-tick basis, the price of COMEX gold now closely correlates with the dollar index, or perhaps more specifically the euro, instead.

The chart below shows the euro in candlesticks and the continuous COMEX gold contract as a blue line. Instead, the single most important factor will be the general trend in the dollar. Back in early January, we gold forex chart out our thesis for dollar weakness inand we urge you to read it now if you missed it back then: Only a recognition of this basic fact gives you an understanding of what drives price on a daily or weekly basis.

Gold rallied Monday in part because of a weakened US dollar. In a recent report, analysts at CrossBorder Capital said that a growing U. But counter intuitively, they expect that this will weigh on the U. Gold forex chart is not U. Additionally, the report noted that gold forex chart that has been heavily invested into U. A diminishing overseas appetite for U. Please check back for new articles and updates gold forex chart Commoditytrademantra.

What really drives the Gold Price There continue to be all sorts of purported analysts out there who insist that the price of gold is determined through physical supply and demand. Nothing could be further from the truth. National Debt is Spiraling Out-of-Control:

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