No matter whether or not gold resumes its correction, as these ratios trend down the proper macro backdrop is in place for a bullish view on the counter-cyclical gold stock sector.
Some cyclical asset markets (and a couple yields) vs. gold…
SPX/Gold
DJW/Gold
CRB/Gold
Copper/Gold
Crude Oil/Gold
10yr Yield/Gold
2yr Yield/Gold
And finally, the one that could lead the whole mess to a new cycle out in 2020 if it turns its trends up…
Silver/Gold
Silver/Gold Monthly
As you can see, while the daily chart shows potential the major trend is firmly down at this time.
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