After consolidating for much
of the year, Gold has recently broken out of a trading range to the upside,
back to levels not seen since the summer of 2016. Analyst Chris Kimble at
Kimble Charting took it a step further and looked at the Gold to Dollar ratio
in the chart below. The Gold/Dollar ratio has recently broken above both
its resistance level, and a multiyear downward trend line. In the past,
Gold/Dollar strength has been positive for precious metals and miners, Kimble
notes.
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