Checking Some Gold Ratios (daily charts)

Gold/Stock Market shot upward with the market disturbance and has been flagging back to the top of a short-term ‘W’ bottom. If renewed market disturbances are in the offing, the ratio is likely to turn back up.

gld, spy

Gold/Palladium is similar.

gld, pall

Gold/Base Metals is much lamer. I can’t see how if we’re going to get bearish this ratio will not go up. But the Base/Industrial metals held relatively firm on the last correction leg and some charts of individual miners look really good (I bought one back today in fact).

Gold/Oil has been weak. Tell me, if the Energy sector, which supplies the oil is so weak why on earth would the gold mining sector, which consumes the oil to dig, transport and process its product not be weak too unless the ratio rises? Beuller?

Time for Gold to rise again vs. Commodities if the market is going to get whacked.

gld, dbc

Finally, the big daddy of them all. Gold/Silver continues to show pressure for the precious metals, and potentially commodities and broad markets as it has pulled back a bit but remains elevated and up trending.

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