Gold vs. Commodities is still intact, but Gold-Oil has nearly been cut in half from its highs (I think oil is over baked, but…). That is a building fundamental pressure on open pit gold mining, especially. In general, this remains a counter-cyclical (and disinflationary) picture, but it is being tested. Aside from Gold-Oil, watch Gold-Silver especially.
Gold vs. Stock Markets has consolidated almost fully, in order to still be called a consolidation. Much further and it will be called a failure or a bottom retest situation.
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