Another View Of Gold

This rarely used index shows the price of gold with the effects of the US dollar removed.

Note how the moving averages have converged and are pointing up as the index has broken through the trendline.

The MACD is nearing zero and has a bullish cross up.

Note that this is a weekly chart and even with a fairly good sized drop in the gold price the chart remains strongly bullish.

Given the fact that gold is the thermometer measuring the temperature of the financial system, we believe the system has a high fever and may soon go into convulsions as the gold price breaks higher.