TradingGods.net

Good Year for Gold Bugs

 

Gold(NYSEARCA:GLD) has outperformed several asset classes as volatility and general economic uncertainty have come back to the forefront.

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In today’s chart, we look at the ratio of Gold to the U.S. Dollar on a “monthly” basis. Gold bulls want to see this ratio trending higher… and it is.

In fact, the rise has taken the Gold ratio to an important juncture. It is working on a dual breakout at point (2).

Thus far, price is well above horizontal resistance marked by (1), and just above trend resistance at (2). Should the breakout hold, it would be historically bullish for Gold (and precious metals). Stay tuned!

This article was first written for See It Markets.com. To see the original post CLICK HERE.