The ol' dirty gold as a replacement for the dollar

Drawdown Addict · Apr 26, 2023

While we see the dedollarization (quite a mouthful word) of the economy:

https://www.bloomberg.com/news/arti...tion-is-happening-at-a-stunning-pace-jen-says

, most of crypto acolytes have been preaching that Bitcoin and other cryptocurrencies will replace the current monetary system. But things are going way better for the shinny metal, it seems.

XAU at ATH

We'll see what happens. Cryptos are raising today, maybe it is related, maybe not.

SunTrader · Apr 26, 2023

ATH?

Think again, not even close. Spot Gold ATH is $2070.48 back in Aug of 2020

As for way better for XAUUSD vs BTCUSD, think again ... aaagain

BTCvsXAU spread ratio chart bottomed in Dec and has been making HH's and HL's ever since:-

Drawdown Addict · Apr 26, 2023

I'll give you a better chart, one that you can click on

https://www.tradingview.com/symbols/XAUUSD

As I said , ATH

Drawdown Addict · Apr 26, 2023

Another one, in case you guys don't like Trading View

https://www.gold.org/goldhub/data/gold-prices

SunTrader · Apr 26, 2023

I like TradingView, but prefer DynamicTrader over TV or my main TradeStation portal:-

SunTrader · Apr 26, 2023

Drawdown Addict said:
I'll give you a better chart, one that you can click on

https://www.tradingview.com/symbols/XAUUSD

As I said , ATH

View attachment 312990

Actually now that I look at the above, I can see clearly 2020 has a higher high. You obviously did not hover over bar to see what the actually high is - or you wouldn't believe your lying eyes into believing that it is lower.

SunTrader · Apr 26, 2023

Drawdown Addict said:
Another one, in case you guys don't like Trading View

https://www.gold.org/goldhub/data/gold-prices

View attachment 312992

XAUUSD is spot. Not futures. And when it comes to futures there are often many contract ATH's. So that would be an apples to oranges comparison. But also nowhere near ATH's currently.

Drawdown Addict · Apr 26, 2023

SunTrader said:
XAUUSD is spot. Not futures. And when it comes to futures there are often many contract ATH's. So that would be an apples to oranges comparison. But also nowhere near ATH's currently.

I never said anything about Futures

SunTrader · Apr 26, 2023

Drawdown Addict said:
I never said anything about Futures

Thought post# 4 was future prices. My mistake it is LBMA prices.

Anyway even that chart shows ATH happened back @ August 5th, '20.

Meanwhile futures (GC) price today is currently about $100 lower than June'23 contract ATH.

Any way you slice it still has a ways to go to make a new ATH.