Its Over, page-7619

Is Gold Ripe?

The answer IMO is Not Yet
1. AUD Gold is still trending south since 4 Feb
2. Gold has yet to capitalise on BTC's short term misfortune- BTC shed almost 5% since 17 Feb but Gold only rose 0.8%
3. Gold unable to capitalise on DXY weakness, with DXY at same level on 16 Dec, Gold is now doing just $1807 against the $1869 it was trading then
4. Gold/GDX ratio showing initial sign of turning around, which means gold stocks are increasingly underperforming relative to Gold

Gold needs to stay above $1800 to continue a sideways consolidation but it would need a rise above $1865 IMO to be seriously considering a breaking to the upside. And it needs to do that without the DXY dropping to yield a higher AUD gold for Aussie gold stocks to rally sustainably.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0		16 December	11 January	27 January	4 Feb 21	5 Feb 21	17 Feb 21	23 Feb 21
1	GOLD (USD)	$   1,869	$    1,849	$    1,842	$    1,835	$   1,795	$   1,792	$ 1,807
2	GOLD (AUD)	$   2,462	$    2,399	$    2,387	$    2,403	$   2,362	$   2,312	$ 2,289
3	DXY (USD INDEX)	90.18	90.32	90.36	91.08	91.53	90.65	90.18
4	BITCOIN (BTC) (USD)	$ 21,354	$ 35,369	$ 31,561	$ 37,558	$ 37,480	$ 49,943	$  47,532
5	BITCOIN (BTC) (AUD)	$ 28,115	$ 46,122	$ 41,083	$ 49,233	$ 48,193	$ 64,533	$  60,031
6	GDX	$   36.01	$    36.52	$    35.09	$    34.60	$   33.79	$   34.13	$ 34.21
7	BTC/GOLD (USD)	11.43	19.13	17.13	20.47	20.88	27.87	26.31
8	BTC/GOLD (AUD)	11.42	19.23	17.21	20.49	20.40	27.91	26.23
9	GOLD/GDX	51.90	50.63	52.49	53.03	53.12	52.51	52.81
10		30/11 to 16/12	16/12 to 11/1	11/1 to 27/1	27/1 to 4/2	4/2 to 5/2	5/2 to 17/2	17/2 to 23/2
11	GOLD (USD)	5.4%	-1.1%	-0.4%	-0.4%	-2.2%	-0.2%	0.8%
12	GOLD (AUD)	2.8%	-2.6%	-0.5%	0.7%	-1.7%	-2.1%	-1.0%
13	BITCOIN (BTC) (USD)	15.3%	65.6%	-10.8%	19.0%	-0.2%	33.3%	-4.8%
14	BITCOIN (BTC) (AUD)	11.0%	64.0%	-10.9%	19.8%	-2.1%	33.9%	-7.0%
15	GOLD/GDX	0.1%	-2.5%	3.7%	1.0%	0.2%	-1.2%	0.6%