Gold vs. Bitcoin

The monetary metal has changed trend vs. monetary digits The future of money will have to wait before the new digital munny is ready to take over safe haven ‘liquidity’ status from the old metallic monetary relic. Where the former has the laser-eyed likes of know-nothings Tom Brady and Paris Hilton among its promoters, gold only has history; long, boring, staid, tepid history (oh yeah, … Continue reading Gold vs. Bitcoin

Copper/Gold ratio failure continues

Cyclical copper is now signaling full on danger in its relation to gold The lowest low since February 2021 is being struck by the Copper/Gold ratio. And here’s the companion big picture macro chart for your viewing pleasure (or displeasure if you cling to the cyclical inflation view). For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes … Continue reading Copper/Gold ratio failure continues

FYI, Rick Ackerman commenting here on gold (and Apple)

Just a heads up that a guy I’ve known of and respected for many years has been commenting on this post from Monday about the negative divergences to inflation: Not inflation friendly I note it because if one of the typical gold bug knuckleheads had shown up here I’d be disappointed. But a guy who goes his own way and calls it as he sees … Continue reading FYI, Rick Ackerman commenting here on gold (and Apple)

Copper, copper miners and the Gold/Silver ratio

Copper and copper miners breaking bad I looked at FCX and thought about buying it as it got dropped to a higher low at the SMA 200. Today it has dropped below it (still a higher low to January’s low). I’d be interested, except that the Copper Miners ETF looks even more suspect and the good Doctor himself is threatening a breakdown… DESPITE booming jobs, … Continue reading Copper, copper miners and the Gold/Silver ratio

Gold vs. Cyclical Asset Markets

Gold vs. risk ‘on’, cyclical items For you sports fans keeping track at home, here is the current view of gold vs. the (much) more cyclical stuff using GLD and various ETFs representing the other markets. It’s a daily chart and you can see gold’s intermediate trend by the SMA 50. For “best of breed” top down analysis of all major markets, subscribe to NFTRH … Continue reading Gold vs. Cyclical Asset Markets

Doctor Copper: Finally the breakdown?

As the Copper price finally makes a move that could lead to implosion (this time?) It’s a hard break below the SMA 200 and maybe this time the good doctor will prescribe a counter-cycle. Not so curiously, gold is getting blown up this morning (not quite yet to our downside targets) but oh wait, look at the old monetary man vs. the inflated economic doctor. … Continue reading Doctor Copper: Finally the breakdown?

2022: Still “the golden year”

Gold is following a logical path in 2022 Reference this article posted on 12.30.21: 2022: The Golden Year Gold has done nothing unusual and in fact it has done as would normally be expected. In February it began to rally out of the base on the daily (futures) chart below. Driven by war (easy on the war, terror and pestilence bull rationales dear gold bugs) … Continue reading 2022: Still “the golden year”

Copper/Gold ratio continues to be macro unfriendly

Cu/Au bent but not quite broken Wallowing below the moving averages, the Copper/Gold ratio is vulnerable. It’s a vulnerability that has been in play before to no damaging effect to the cyclical inflation trades. But these things take forever (and a day) compared to our flitting brain waves firing off signals in real time. Once again, the ‘reminder’ chart about the big picture macro. The … Continue reading Copper/Gold ratio continues to be macro unfriendly

A friendly reminder from Dr. Copper & old man Gold

Copper/Gold ratio is still sideways The decision by this discrete indicator (remember, it’s a group of indicators we want to see indicating similar outcomes for any given macro backdrop) has not been logged yet. The copper price is pulling back vs. the gold price but the ratio is still in its long sideways trend. This will not last and when it finally breaks out, up … Continue reading A friendly reminder from Dr. Copper & old man Gold

Oh, Canada… zero gold reserves (comments welcome)

What is Ottawa thinking? Canada’s gold holdings at zero What is going on up there? I ask Canadian readers or anyone with knowledge of the situation to advise what sort of insanity this is. I just found this out, and the first scary thought that comes to my mind is that maybe the government would plan to nationalize all the Canadian gold mines should a … Continue reading Oh, Canada… zero gold reserves (comments welcome)

Doctor Cyclical vs. Old Man Counter-cyclical

Copper/Gold ratio has been weak, but… The “but” being that this level of weakness has occurred on two other occasions before the ratio of the copper price to the gold price recovered. It has been more than a year now that this indicator, not to mention several of its fellows, has refused to trigger a macro view.* And again, the big picture view… * I … Continue reading Doctor Cyclical vs. Old Man Counter-cyclical

Gold’s next bull leg in progress; but a test is due for the metal & miners

“2022: The Golden Year” activates… …as gold and the miners hit our short-term upside targets this week. In August of 2020 we noted the danger signals for gold based on sentiment excess coming out of the acute pandemic fear phase. We also noted the need for a multi-year bullish Cup to build a proper handle after that excess. A Cup’s handle is actually a downward … Continue reading Gold’s next bull leg in progress; but a test is due for the metal & miners

Doctor Copper among pre-market’s harsh reversals

Copper spike and reversal As gold hits our short-term target (short-term, longer-term is much higher), Nickel goes limit up and other items went bonkers in pre-market, the good doctor is doing failure #4. It is still technically bullish, but the failure is in not yet taking a next leg. Like Nickel, for example. It’s getting dangerous out there, folks. More and more my general default … Continue reading Doctor Copper among pre-market’s harsh reversals