The Doctor called and he has good news for reflation-minded casino patrons.
The important $3/lb. level has been taken out (daily chart) by this asset that is emblematic of a re-flating global economy.
After all, the cost is only increased costs (eventually) for Americans as the Trump/Treasury/Fed triumvirate successfully devalues the reserve currency. Cue Larry Kudlow: “king dollar… king dollar… king dollar…” ha ha ha.
Back to the good Doctor, the next stop is the bull market cycle point at 3.32. Gold jumped its bull marker in 2019. Silver did so in 2020 and now the 3rd man up – the 3rd Amigo – is following. This progression in the metals is so logical it’s a little creepy how well it is playing out.
Here’s the monthly view showing where the trend line came from.
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