usdx
With the gold miners underperforming gold, and gold underperforming the USDX, it was only a matter of time before the house of cards came crashing down. Q3 2020 hedge fund letters, conferences and more Warning About The GDX Approaching An Inflection PointThe writing has been on the wall all along with signs for all to see. On Jan. 5, I warned that the GDX was approaching an inflection point in the following way: The GDX ETF managed to rally above its 50-day moving average – just as it did at its November top. Moreover, please take note of the spike in volume that we saw yesterday. There were v...
ValueWalk
It’s crunch time for gold and the US Dollar Index (USDX), as they find themselves at a crossroads. As of Wednesday, the USDX is holding its lows but wants to move up, thus invalidating its breakdown. And gold? Well, gold did gain a bit today, but it’s essentially jumping up in an elevator that’s moving down – it just doesn’t have enough steam to break out.Q3 2020 hedge fund letters, conferences and moreGold And The USDX: CorrelationsWhile it’s been the traditional view that when the US Dollar declines, gold increases in price, we find that's not always the case when comparing historical patter...
ValueWalk
So far, 2020 has been an incredible and challenging year for the many markets, and that does not exclude gold, arguably one of the most important and most valuable commodities in the world.Q2 2020 hedge fund letters, conferences and moreGold's Long-term Turning PointThe yellow metal’s price is influenced by a myriad of obvious and non-obvious short and long-term factors, such as the long-term turning point and its self-similar pattern. In recent months, we’ve already discussed the presence of gold’s long-term turning point in broad detail. Furthermore, only a couple of weeks ago, we’ve learned...
ValueWalk
In the global financial world, with a highly interconnected economic dependence, commodities, energy, materials, and in particular, currencies play a pivotal role in the stock market’s heterogeneity and connectivity. This applies to gold as well as the world’s busiest precious metal marketplace.Q2 2020 hedge fund letters, conferences and moreThe Inverse Relationship Of Gold And The US DollarUnder normal conditions, gold and the US dollar are in an inverse relationship. Due to its worldwide denomination in USD, any USD weakness pushes gold prices up, and vice versa. Therefore, as far as the USD...
ValueWalk
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