Publish date:

Feb 19, 2020

Gold at Record High in Euros, Watch the Yen!

Gold is in a major breakout in the Euro and on the cusp in the Yen. Can the US dollar price be far behind?

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Gold is in a major breakout in the Euro and on the cusp in the Yen. Can the US dollar price be far behind?

Gold hit a new record high today for those buying in euros. Let's investigate gold in US dollar terms and in the Yen.

Gold

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Gold Priced in Yen

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One Hell of a Ride

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That's one hell of a ride. If you bought gold in Yen in 1980 you are still underwater.

Wow.

Where to in US$?

Gold is roughly $300 away from a record high in US dollars.

I expect it to top that easily within a couple of years and by the end of 2020 would not surprise me in the least.

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Mike "Mish" Shedlock

Swings in the US dollar have no long-term impact in the price of gold. Nor is gold an inflation hedge.

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Since 2015, gold has been correlated to the US dollar. What's next?

Gold shorts are near a record high as saturating bearishness sets in.

The Fed released its "Z1" report today on Household Net Worth and Domestic Nonfinancial Debt. Let's dive into debt.

A massive amount of hype is spreading regarding China's alleged ambitions to dethrone the dollar. The story this time involves China's plan is to price oil in yuan using a gold-backed futures contract. Even if that were true, the impact would be zero. Nonetheless, CNBC is now in on the hype.

A reader from Brussels has questions regarding the strength of the Euro.

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