Gold Price Comparison Chart – Currencies: US Dollar, Euro, Yen, Canadian Dollar, Australian Dollar, Swiss Franc

by Olivier on February 22, 2010

It was about time I added a Gold Sector Overview Chart to my public list. This is a good way to gauge the strength and health of the gold bull market. The broader the move across a basket of currencies the healthier. In other words, the price of gold needs to move up in basically all the major currencies, not only the US Dollar. The reason why monitoring gold in various currencies is so important is due to the role gold is supposed to play. If it can move up against a broad range of currencies it is asserting its status as a currency, i.e. money, as opposed to being just another commodity. So far gold is doing well and going up denominated in all the currencies listed in the overview chart.

According to Jim Sinclair and Marc Faber, to name but a few, excessive money printing and competitive currency devaluation is what most countries are engaging in at the moment. The Gold Currencies Chart shows which ones are good at this game and which ones show somewhat fiscally more sound behavior. You can check the price of gold denominated in the following currencies:

UPDATE 02/23/10: Make that two overview charts in order to cover more currencies.

Overview Chart I.

  • Gold in US Dollar
  • Gold in Euro
  • Gold in Canadian Dollar
  • Gold in Swiss Franc

Overview Chart II.

  • Gold in British Pound
  • Gold in Yen
  • Gold in South African Rand
  • Gold in Australian Dollar

I’ve also added an Agriculture Sector Overview Chart as people like Marc Faber and Jim Rogers expect Agriculture to be the next big thing. Time will tell. These are the stocks I included:

Not much happening today. A few things that caught my eye:

  • NML – New Millennium Capital : (Iron Ore Stock) did well and closed at the high of the day.
  • NXT.V – Natcore Technology : (Solar Stock) that was on my public list for quite some time came out with news of a joint venture with a Chinese firm and gapped up. There is still way too much overhead resistance but I am monitoring the stock in the background. It might find its way back on my list.

One man’s ceiling is another man’s floor. – Paul Simon

Have a great evening!

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