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Besides Gold, Singapore Dollar has a decade-long bull run

Gold may be on record for decade long bull run

We all know how Gold moved from sub-200 USD per ounce to the current price. This long bull run might well make it into the Guinness Book of World Records.

Long term chart of gold

A decade long Gold rally

Little did many other people know (including Singaporeans) that the Singapore Dollar or SingDollar has also had a wonderful long bull run against the USD since 2002. What’s more, the Singapore Dollar’s gain was not marred by the kind of volatility that AUDUSD and NZDUSD went through between 2008 -2009.

We are looking at a high for the USD per unit trading to 1.8315 SingDollars in 2001, the latter strengthening to 1.1986 in August 2011.

Long term chart of USDSGD

Singapore Dollar makes gains from the USD

Bull run likely to continue

Without a bullish reversal pattern, the run is likely to continue.

Possessing a small export driven economy that also imports almost all of its raw materials and necessities, the nation is walking a tight rope. On one hand an appreciating currency is causing the nation to lose its export competitiveness. On the other hand, imported inflation threatens the way of life in the country.

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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