"Everything you need to know about gold"
HAS GOLD BROKEN OUT?
A casual glance at the latest short term chart for GLD would tend to support the notion that, yes, gold has decidedly broken out of its trading range and is headed higher.
Below is a two-year chart of GLD (bigcharts.marketwatch.com) with the latest activity (June 21, 2019) updates…
When it comes to analysis of gold, the U.S. Dollar Index finds nearly universal acceptance. Or rather, when most analysts refer to comparison/correlation of the U.S. dollar to gold, they usually illustrate their point with a chart of the U.S. dollar index.
While they won’t say it straight out, most of them see the U.S. Dollar Index as a proxy for the U.S. dollar. But, is it?