donderdag 17 juli 2014

Correlation: GOFO rate Vs. Gold Price

For some time I have daily checked the GOFO rates on the LBMA website.

It seems that whenever the GOFO rates go up (and they release it at 12:00 PM Belgian time), then the gold price goes up when the U.S. stock market opens.

See how the GOFO rate and gold price correlate to each other.
1 Month GOFO

GLD: gold price
So technically you can predict the price swing in gold by just watching the LBMA GOFO rate before the U.S. stock market opens.

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