Registered: 1101777014 Posts: 4,456
Reply with quote #1
Interesting juncture right now with the price of gold, measured in Canadian Dollars, British Pounds and Euros, is challenging its longer term rising bottoms lines from the 2005 price lows on a monthly basis. We also see that gold, priced in Australian Dollars, has completed a technical snapback to what was previously this same rising trend time measurement. Gold, priced in Japanese Yen, continues to show the best global strength suggesting that monetary policy there remains highly accomodative.
Fib __________________ Dave's LinkedIn Profile Technical Watch Twitter Page Technical Watch Facebook Page "As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan "An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan "What we see depends mainly on what we look for" - John Lubbock "The eye sees only what the mind is ready to comprehend" - Henri Bergson “Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977 "You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977
Registered: 1101968123 Posts: 497
Reply with quote #2
Recognizing these differences in gold priced in other currencies, Dennis Gartman has formulated two gold ETFs, one price in EUR and one in YEN. They as expected have outperformed gold priced in USD since inception in Feb 2014 with GEUR up 4.1% during that time and GYEN up 2.2 while GLD itself is down over 12%!
GEUR had been the better one year to date in 2015. Here they are. They are not as liquid of course and more intended for intermediate term trading: Closing NAVs for the AdvisorShares Gartman Gold ETFs: GEUR (Long gold/short EUR) $12.37 +.20 +1.6% GYEN (Long gold/short Yen) $12.36 +.22 +1.8% Year to date performance: Gold ETFs: Year-to-date as of Friday Sept 18, 2015: GEUR + 1.52% GYEN - 4.35% GLD - 3.85% All the best, Doc