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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (19197)10/6/2003 8:57:53 PM
From: sea_urchin  Read Replies (1) of 81980
 
> Here's another interesting chart

POG v CRB Index of Commodity Prices (which includes gold)

stockcharts.com[w,a]dalaynay[dj][pd200,2][ilb14!la12,26,9]

This chart shows the very strong "resistance level" at a POG/CRB ratio of 1.6. In fact, four times in the past seven years the ratio has failed to penetrate this level. The graph thus shows clearly that gold does not perform differently from a "basket of commodities" and when it appears to be overpriced in relation to those commodities it falls back in price. This may give some insight as to why the POG fell so sharply last week.

The chart also shows that at a POG/CRB ratio of 1.2, gold is very cheap.
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