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1) $Gold $silver update.
Wondering why gold isn't moving despite intraday swings?
It's caught between a well defined 6M channel and uptrend from Mar lows.
As mentioned before, the first move above was a false breakout but ...
$SPY $QQQ $GLD $SLV $GDX
https://twitter.com/ResearchQf/status/1351937010609610755
Wondering why gold isn't moving despite intraday swings?
It's caught between a well defined 6M channel and uptrend from Mar lows.
As mentioned before, the first move above was a false breakout but ...
$SPY $QQQ $GLD $SLV $GDX
https://twitter.com/ResearchQf/status/1351937010609610755
2) pattern in this pullback is very different.
At closing prices, gold held intermediate trend in channel unlike other corrections (dashed line), the uptrend from Mar, and the top of the channel - all quite precisely.
Gold/silver ratio are at new lows today. PM miners have ...
At closing prices, gold held intermediate trend in channel unlike other corrections (dashed line), the uptrend from Mar, and the top of the channel - all quite precisely.
Gold/silver ratio are at new lows today. PM miners have ...
3) also begun to outperform, with several miners at multiyear highs. This is just bullish.
Resolution probable next week. Next breakout with GLD closing > ~$175 or gold > ~$1875 is unlikely to be a fake out.
Also, inflation expectations are rising as fast or faster than rates.
Resolution probable next week. Next breakout with GLD closing > ~$175 or gold > ~$1875 is unlikely to be a fake out.
Also, inflation expectations are rising as fast or faster than rates.
4) 5 year real rates hit an all time low of -1.84% today. 10 year real rates are just 7 bps above its all time low.
Don't forget the long term picture for gold but wait for that breakout to press.
Don't forget the long term picture for gold but wait for that breakout to press.
5) And GDXJ still targets > $80 with a close above ~$56.
