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December 30, 2004
Thursday, December 30, 2004 10:18:25 AM
Gold vs. Euro
Last weekend I published my views on trading gold. I noted that because cycles differ from trends, you ought not to think there is a direct correlation between GLD (the gold bullion ETF that trades on the NYSE) and the Euro (paired to the USD).
I said that some market forces keep gold and the Euro trading in the same cycle, but there may be reversals in trend at any time. I pointed out the percentage difference in price changes over time in these two securities instruments.
Note from this chart how the cycles are still intact but there is quite a difference in price trend this week between the Euro and gold.
Posted by Posted by Bill Cara on December 30, 2004 10:18:20 AM | Category: Gold