UBS Says 'Positive' on Gold, May Rise to $2,500 Dominic Schnider, head of global commodities and foreign exchange at UBS Global Wealth Management, discusses the prospects for commodities including copper, gold and silver. bloomberg.com/news/videos/20…
@goldseek In my opinion, the most interesting aspect to the move in gold is that since early March it's highly correlated with the move higher in the dollar. Historically, when gold and the dollar move up in tandem, at some the dollar heads south and gold lauches into orbit
@InvResDynamics @goldseek True, but the reality is the $ itself is disconnected to the real world. 50% of global transactions now occur outside of SWIFT, so the DXY is almost solely being based on declining currencies such as the yen, euro, and pound. Gold pricing meanwhile is being controlled less by $
@InvResDynamics @goldseek This supports the observation that correlation and causation are two separate and unrelated phenomena
@InvResDynamics @goldseek Gold up, USD up = EUR down (for now my home currency), very fine with me thank you!