Gold in U.S. dollar terms finds itself at a crucial juncture entering this week:
Gold (Daily)
The $1088-$1090 is a key center of gravity. Price broke out above $1090 to begin the year but has since faded back below and ended last week exactly on it. I am of the opinion that the next $30+ directional move in gold will give us powerful information as to the next $100-$200 move.
Meanwhile, gold in emerging market and Canadian dollar currency terms remains quite strong:
Gold (Canadian dollar)
Gold (Chinese Yuan)
Gold (Russian ruble)
Tomorrow we will be presenting an interview with Kaminak Gold CEO Eira Thomas which offers some unique insights as to what effect the weak Canadian dollar is having on Canadian gold producers/explorers. Stay tuned!