Copper miners: so this is reflation?

Copper miners are rolling over on daily charts The Copper miners appear unconvinced that cyclical inflation is the imminent play. In NFTRH we have discussed both the poor seasonal average for copper at this time of year and no longer beneficial LME warehouse levels. As it stands today the miners appear to be getting those memos. So let’s see if the pogo stick market has … Continue reading Copper miners: so this is reflation?

Do ya feel lucky, punk? Gold gets hammered but Copper fails to seize the moment

The Copper/Gold ratio remains at a key decision point Gold has been clobbered lately but a key metallic macro indicator remains in a long-term congestion zone. If it’s going to be cyclical ‘inflation ON’ we’d expect Cu/Au to break through and do what it has not done since a major inflation trade blew out in 2006-2008, and for the 30yr Treasury yield to eventually catch … Continue reading Do ya feel lucky, punk? Gold gets hammered but Copper fails to seize the moment