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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: John Paquet who wrote (58432)9/20/2000 11:45:41 AM
From: goldsheet  Read Replies (1) of 116762
 
It almost looked like the dollar was topping out at the 111-122 level in early May 2000, when the XAU was trading in a 55-60 range.

When the dollar turned down, getting to 106, the XAU just could not get and stay above 60.
The recent run in the dollar over 116 has helped push the XAU under 50.

So far this year, when the dollar goes up - the XAU drops, and when the dollar goes down - the XAU stay flat.
We need a serious move, maybe under 100 in the dollar index to really get the XAU moving.

Here's a graph of USD and XAU from October 1, 1999 top-to-date;
goldsheet.simplenet.com
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