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Tom updated the gold charts   30 Apr 12
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gold.approximity.com/gold_charts.html

It is interesting to see how the DJIA:Gold chart seems to acknowledge technical levels, despite of it being no directly traded asset but instead the ratio of the prices of two very distinct market objects, namely gold and the Dow Jones Industrial Average. The ratio now stands at the 8.0 level, and it will be interesting to see whether it will be able to go higher, or whether it will be reflected downwards to indicate a worsening economic reality in the U.S. As a comparison, a chart since 2008 shows how the 10.0 level played a similar role for the ratio back in 2009.

 

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