Gold moves higher as nodal station ends

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Hello list, Now that the nodal station at 19 degrees has ended, the price of gold has moved up convincingly - and is close to $500 per ounce. The interesting thing is that gold is strengthening along with a strengthening of the dollar. This is a rather bullish phenomena, as the gold price is quoted internationally in $. This means that in the past a drop in the value of the dollar exchange rate resulted in a compensating rise in the gold price - and vice versa. As a result, the gold price measured in other currencies, like the euro, is rising even faster than in dollars. This pattern is consistent with what was seen in the autumn of 1999. Attached are graphs showing the developments in the station and gold. Best regards, C

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