Is Gold about to receive a very important bull/bear signal this month? Looks like it!
This chart takes a peek at the Gold/U.S. Dollar ratio over the past 15-years. The ratio double topped at (1) and once it broke support in 2013, it declined sharply over the next 24-months.
It peaked in August of last year at (2), where it appears to have created another double top.
The decline over the past 7-months has it testing the 10-year support level at (3).
The Gold/US$ ratio is hanging onto support by a thread this month. Gold bulls should be aware how important it is for Gold that this support holds!!!