Some Gold Macro & Sector Fundamentals, Updated

In NFTRH we use daily and weekly versions of these charts to gauge not only the fundamentals of the gold sector, but also the broader macro markets. Here are the weeklies, which are the important ones to turn up after the dailies long ago gave us bullish signals.

The play is getting overbought on daily time frames, but as you’ll see below the weekly charts are firming a bigger picture for gold and especially gold stocks, which leverage gold’s standing within the macro.

So what do we have here? We have gold making important higher highs vs. major stock markets.

gold vs. stocks

The above is what I consider macro fundamental for gold stocks. Au/Commodities is that and also in cases where commodities inform mining bottom line costs, a sector fundamental. Everything looks ship shape here considering that Palladium is a peculiar animal with a discrete supply/demand situation and the recent weakness in gold/silver being just fine for the sector, which tends to like it when silver leads. Of course the flip side is that gold/silver is still on its uptrend.

gold vs. commmodities

Finally, take a look at gold vs. this group of tramps overseen by our fine monetary stewards at the world’s central banks. This is another macro view that is saying “bull market”. It is also saying “rapidly waning faith in these monetary eggheads to do anything but leverage currency debasement”.

gold vs. currencies

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