Gold’s stock and commodity adjusted prices are spiking
The nominal gold price is not only going nowhere; it’s fading bearish on a daily chart view. Gold is experiencing selling pressure by the inflation bugs, which I will not belabor for the 1001’st time. Let’s simply note that as the macro markets in general continue to pivot away from the inflation hysteria and toward a bearish view of a post-inflationary/reflationary bust, the preferred components are coming into play for our view about gold and especially gold stocks.
Here is gold spiking vs. a risk ‘on’, inflation-driven cyclical metal. When eventually gold is doing similar things vs. the last inflated man standing (Oil/Energy), which it may have already begun to do, it will long since have been time to be apart from the herds going one way (we should already be standing well apart from them) and set about going the other. It won’t all happen in a day, but it will happen. It’s a process that is happening now. The macro sands are shifting right below our feet. Be ready.
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