New Gold Bull Market? Not Until This Happens!

After a big summer rally, Gold peaked out at $1566/oz in September.

Since then, Gold prices have been consolidating between $1475 and $1550.

So what’s happening here? Enter the Swiss Franc currency…

In today’s chart, we look at a key indicator (and correlation) for Gold. As you can see, the Swiss Franc has an uncanny resemblance to Gold.

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Both Gold and the Franc are testing heavy resistance at the same time.

Until both breakout at (2), odds are low that a new Gold bull market emerges with another big rally leg higher.

Looking back, it wasn’t until both Gold and the France broke out above price resistance at each (1) that a new Gold bull market emerged. Can it happen again? Stay tuned!

Swiss Franc Currency and Gold Long-Term Price Charts

swiss franc gold correlation price resistance chart image october 11

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.