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
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?
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”
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
It’s funny. I was shooting the shit with Jordan for about an hour before the interview started and I was Gary. We talked about Boston sports. I found out Jordan is a huge sports fan and his mom is from my area. And by extension, that he’s American (I always thought he was Canadian). We talked about a few other OT things and a lot … Continue reading Mr. Robot talks gold (and silver)
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
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)
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
“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
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
As USD and Gold rise, Bitcoin acts like the speculation that it is The US dollar is roofing… Gold is also getting the global liquidity bid. And then there is BTCUSD, acting like a speculation along with all the other speculations the world over. Where’s Tom Brady and what’s her name, the hotel heiress come crypto big mouth when you need them? For “best of … Continue reading Bitcoin: Acting like the speculation it is
The copper price remains intact and in consolidation The drudgery continues. Cyclical, inflation-sensitive Copper is still bull biased as it creeps the SMA 50 after the latest upside fake out. It’s pretty annoying for we who want clear signals (but they will come). Meanwhile, Doctor Cyclical vs. Old Man Counter-Cyclical took a fear stoked drop and is of course bouncing a little. For “best of … Continue reading Doctor Copper: “3 was not a charm, but…”
[edit] Please accept my apology. Said lunatic as noted below is chasing a different story, not the one about Ukraine/Russia. I got my wires crossed due to reading across several sites large and small trying to gauge sentiment in not only gold, but all around. It does not change the fact that this unnamed character is always writing with hellfire warnings when something looks dicey … Continue reading Gold… perfect! [w/ edit]
CRB commodity index hits target Not that it needs to stop here and not that I knew a tragic humanitarian event was going to instigate the final drive to 270+, but here we are. CRB index closed yesterday at 268.32 and is up over 3% this morning. So… target in. It’s a target we’ve had on for at least a year now. And it is … Continue reading CRB index: Upside target (finally) in, gold is better
