Gold price up between 10% to 25% so far in 2016

After more than four years it seems as if the cyclical bear phase is over and a resumption of the secular bull market in gold, which began in 1999, has begun. In fact when we look at gold in various global currencies we can see they are up between 10 and 25% so far in 2016.

In fact, gold priced in some local currencies are within grasp of making all time highs.

So what’s changed and changed so quickly? The short answer is that the wider market is starting to cotton on to something that the gold bulls have known all along – namely that all the gross ‘emergency’ monetary intervention over the past eight years has been for naught. The wildly held view, that the global economy was improving (allbeit slowly) and the central banks we’re just moments away from raising rates as the economies improved, has vaporised. Now the market is starting to realise that the central banks simply can not raise rates without plunging the economy back into a  deep global recession/depression – and in fact it looks for all the world as if we’re all heading for negative interest rates, just ask the Japanese… and the Swedes.

Australia dollar gold:

We can see that in terms of the Aussie dollar gold has risen some 23% so far in 2016.

aud 2016 gold price(click for sharper image)

In fact, Australians are only 3% away from seeming all time highs in gold!

aud ath(click for sharper image)

Canadian dollar gold:

Gold is up some 20% in just a couple of months in terms of Canadian dollar gold.

cad 2016 gold price(click for sharper image)

And like Aussie dollar gold, it’s only 8% shy of making new all time highs.

cad ath

(click for sharper image)

British pound gold:

One of the best performing currencies for gold has been the British pound. So far in 2016 it has added some 25%

gbp ath(click for sharper image)

However, there is still some way to go until new highs can be thought about.

GBP 2016(click for sharper image)

Yen gold:

Yen gold has been a bit more sedate than the currencies mentioned above – however, it’s still been good for a 10% rise so far this year.

yen 2016(click for sharper image)

Leaving Yen gold 12% off making fresh all time highs.

yen all time high(click for sharper image)

Swiss franc gold:

Gold priced in Swiss francs is up some 18% in 2016.

chf 2016 gold price(click for sharper image)

However, Swiss franc gold is still some 35% away from the highs made back in 2013.

chf ath(click for sharper image)

Euro gold:

In terms of the euro gold has rallied some 17% so far in 2016.

eur 2016 gold(click for sharper image)

Leaving another 20% left until we see new all time highs in euro gold.

eur ath(click for sharper image)

US dollar gold:

In terms of gold priced in dollars gold has moved higher by some 18% so far in 2016.

usd 2016 gold price(click for sharper image)

However, out of all the currencies listed above it has the furthest to go before making fresh highs, some 50% away.

usd ath(click for sharper image)

If gold moves like this at the mere suggestion of negative rates out of the Fed – just imagine what will happen when it actually proceeds with its economy destroying negative rates policy.

Link to this article: : http://www.goldmadesimplenews.com/gold/gold-price-up-between-10-to-25-so-far-in-2016-12812/

Posted by on Feb 24 2016. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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