NZPOG continues to loose air …

I’d have to say NZPOG is the most tedious chart in my collection, this whole winter (southern hemisphere) it has lost any sense of volatility as the USPOG moves have been negated by the USD, translating into an NZD Gold price that just leaks value progressively. Today it’s dropped again beneath a horizontal support, though we can start to see a narrow downwards channel forming. Gold bugs holding this metal in Kiwi$ will not like the prospects of a rising USD and falling USPOG, which could translate into more sideways tedium.