NFTRH+; this is a microcosm of the proper gold mining ‘buy’ backdrop

With the understanding that the precious metals are still trending down by daily charts and the broader markets are still trending up, here’s a dialed-in look at some day trader type in-day charts showing gold doing what it is supposed to do when the system comes under liquidity stress and showing a microcosm of why I belabor the point about liquidity stress (not inflation) being the time to pay attention to improving gold mining macro fundamentals.

Gold/US broad large caps (GLD/SPY)

Gold/Global stocks (GLD/ACWX)

Gold/Commodities (GLD/DBC)

Gold/Copper (GLD/CPER)

Gold/Oil (GLD/USO)

Considering that the gold miner indexes/ETFs have declined to long-term support, although not to some of our open downside targets, I am going to apply the ‘open minds’ theme to the precious metals complex. I mean, there is a reason that the sector went bearish over a year ago and has stayed that way. Today, that reason is getting an interruption at best at a time to consider all the good corrective work the miners have already done (unlike broad markets).