Why The S&P Is The One To Watch For The Gold Price
Jordan Roy-Byrne, founder and editor of The Daily Gold joins me today to share his thoughts on why gold investors need to watch the S&P more closely than the USD. These comments are also tied into a bigger picture look at where the PMs are heading to the end of the year.
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Click here to visit Jordan’s website for more valuable metals commentary.
The author has it backwards. SDRs would be pegged to gold, not the other way around.
Thanks for the comments Jordan.
I like the idea of what you say about the S&P being more important to the direction of gold rather than the dollar. I think this was one of your better commentaries.
SLV:GLD is trying to take back the 200 day MA and the so-called golden cross is coming soon…
http://schrts.co/RoSZCi
In case it’s not obvious to everyone, the above chart shows silver in a very bullish pattern versus gold since the April low and that is bullish for the whole sector.
Nothing scary about silver vs gold:
http://schrts.co/V8reYx
Has China Pegged The $Gold Price To The Value Of SDRs? Jim Rickards has recently opined that the price of gold has been pegged by China at 900 SDRs per ounce.
https://seekingalpha.com/article/4185877-china-pegged-gold-price-value-sdrs