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The Simple Way To Watch The US Dollar | The Mesh Report

The Simple Way To Watch The US Dollar

Mike Hammer October 31, 2016 0

As you’re aware by now, the biggest economic factor that affects gold price is the value of the US Dollar.  That’s great to know, but what can you do about it?

Well, turns out in this age it’s quite simple.  Like almost everything else, “There’s an ETF for that!”  True secret: For a while I considered making that my life’s motto.  Imagine the T-shirt and bumper sticker sales…

Anyway, back to the point.  In the US, we know gold price goes down when the dollar goes up, and gold goes up when the dollar goes down.  So where can an Average Joe like you & me go to see what the value of the dollar is?

Here are the three letters you need to know:  UUP.

Not as in a word pronounced “uh-up”, but You-You-Pee.

Punching that into our charting tool gives us this 6-month chart.  UUP is the candles; the blue line is GLD indicating the relative price of gold.

uup

You can see that the dollar has been going up lately, and is in either consolidation or uncertainty right now, depending on your particular slant.

And you can see that gold mirrored this move by heading down.

Continue Reading At The Gold Enthusiast



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