As is usually the case if these riders are going to change the macro the damage starts at ground zero, the precious metals sector. Here is the Gold/Silver Ratio (GSR) slamming upward. The USD bull fund UUP was up hard at the behest of the GSR, per the theme of this morning’s pre-market post. Gold was down, but silver got hammered. While gold stock indexes/ETFs … Continue reading A Look at Some Damage as the 2 Horsemen Ride
A concurrent rise in the Gold/Silver ratio (GSR) and US dollar can be a bringer of death and destruction to the macro, after it wipes out the precious metals, commodities and the global areas comprising the ‘anti-USD’ trades that have been in effect since 2016. The Gold/Silver ratio has not worked well as such an indicator for several years and I think that is largely … Continue reading Gold/Silver Ratio & USD: 2 Horsemen to Ride Again?