As the Gold price gets hammered…

The gold price is getting hammered, but its ratios generally are not… And that means something. Using the associated ETFs… Gold price adjusted by the silver price: not hammered. Gold price adjusted by the crude oil price: weak today but certainly not hammered. Gold price adjusted by broader commodities: not hammered. Gold price adjusted by equities: hammered (and consistent with the little Goldilocks phase in … Continue reading As the Gold price gets hammered…

Q4-Q1 rally regains its mojo, led by the miners

Copper and Gold miners are leading the Q4-Q1 rally in broad asset markets Back in October we began to plan the prospect of a relief rally that would be fueled by over-bearish sentiment (contrary bullish), ‘Fed hawk’ relief as we anticipated inflation signals to ease, and a post (mid-term) election seasonal pattern that is bullish for stocks. This public article had a lot to say … Continue reading Q4-Q1 rally regains its mojo, led by the miners

Strategy is working well so far

It’s the Q4-Q1 relief play, baby It’s getting easier and easier now to be bullish, but that is the product of FOMO* in the herds. Hence, today was my last day of buying** fallen items across, in order of preference and general acquisition, the Precious Metals, Emerging Markets, outlier/specialty Commodities, select US sectors and Energy (yup, Energy, the formerly “last inflated man standing”) off of … Continue reading Strategy is working well so far

NFTRH 739, out now

It’s back to a normal PDF format this week and NFTRH 739 digs into the particulars of the Q4-Q1 rally theme and also examines its leadership, including and especially the gold mining sector. It was helpful to me to get back into formal mode. For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market … Continue reading NFTRH 739, out now

copper/gold ratio, copper futures / gold futures

Copper/Gold ratio and the inflated macro

The Copper/Gold ratio broke down as expected in 2022 In 2021 we noted for month after uneventful month the most recent consolidation at resistance by the ratio of the copper price (cyclical, inflation sensitive) and the gold price (far less cyclical and less inflation sensitive) and anticipated bearish things to come for the risk ‘on’, inflation-fueled world of assets. Well, check. The Copper/Gold ratio is … Continue reading Copper/Gold ratio and the inflated macro

SPY vs. SP… err, TLT

Headline US stock market ETF vs. headline US Treasury market ETF The daily chart of the SPY/TLT ratio shows the broad US stock market (incl. dividends) clinging to its major uptrend (SMA 200) relative to long-term US Treasury bonds (incl. dividends). As with other indicators to disinflationary/deflationary 2023, this one is in transition. All good things in their due time, eh Beuller? So the indication … Continue reading SPY vs. SP… err, TLT

nftrh plus

NFTRH+; pre-market from a golden perspective

It’s FOMC week, the eggheads have dispersed to their private offices and now into the void comes man, machine, black box and casino patron of all stripes. FOMC week; it was bound to be volatile. Let’s take a gold-centric view to gauge the metal’s standing within the wider markets. Gold/Silver is bouncing this morning along with the US dollar. That’s normal, both in the correlation … Continue reading NFTRH+; pre-market from a golden perspective