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 multi-year downward trend line. In the past, Gold/Dollar strength has been positive for precious metals and miners, Kimble notes.
Gold/Dollar Ratio Weekly
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September 11, 2017