Gold is off to an explosive start in 2020.
It’s already up by $166.90, or close to 7%, since the beginning of 2020. That’s the highest it’s been in 7 years.
And although the dollar has remained fairly strong vs gold, the same can’t be said for other currencies.
Gold is at an all time high in Euros, the Japanese Yen, the British Pound, the Canadian Dollar, Australian Dollar, Russian Rubles and other currencies.
Here’s a chart of Gold in the Euro…
And here’s Gold in the Japanese Yen.
But what gives? How long can the dollar withstand gold’s onslaught?
With global markets already on shaky ground and the Corona-Virus threatening to bring the global economy to a grinding halt if not contained – the dollars days in the limelight may be numbered.