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darth.stocks
Dec 18, 2015 12:49 PM

Gold in Special Drawing Rights XDR Long

XAUUSD/XDRUSDFXCM

Description

The Gold price in XDR is quite a nice measure since it reflects the price development of Gold in the major world economies. Inclusion of Renminbi should not matter, since CNY was pegged to US$ and is now pegged to a currency basket containing all major XDR base currencies.... We reached the lower bottom of the trading range (since Jun 2013) and we should expect a major rebound towards upper range. Clearly evident from here: There is no price manipulation in Gold! Gold price development in US$ is just a fast (much to fast) appreciation of the US$ compared to other currencies.
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