Gold and Silver chart comments, and why with higher inflation and lower interest rates is gold not moving higher?
Jordan Roy-Byrne, Founder of The Daily Gold joins me for a look at the short term charts for gold and silver. We also compare the gold stocks, which really haven moved, to the slow rise in gold. As for Silver there is the potential of the metals setting up a bear flag in the short term.
Big picture is key here as we discuss the current environment of higher than expected inflation data paired with lower interest rates. This is typically an environment where precious metals do very well. However it’s all about markets being forward looking and this spike in inflation already priced in thanks to the major pop in commodities last year and early this year.
The same goes for SILJ vs stocks. It is far more appealing than any of the FAANGs…
https://stockcharts.com/h-sc/ui?s=SILJ%3AQQQ&p=D&yr=1&mn=3&dy=0&id=p47531580669&a=991875219
Looks like a great chart and MACD.
Not surprisingly, QQQ looks quite ready for a fall…
https://stockcharts.com/h-sc/ui?s=QQQ&p=D&yr=1&mn=1&dy=15&id=p65915165694&a=992339997
10 year dropping…
The QQQ looks better turning it upside down
TIPS are outperforming gold and the miners by a large margin. Doesn’t make any sense, but it seems all stocks including miners could go down further while bonds continue to outperform at least in the short term.
Know it is off topic but what do folks think of KOR being bought by AngloGold?
I believe Jordan is “spot on” with his assessment today.
Agreed. I’m happy to hold mostly miners with good options markets. At least it’ll provide some income while waiting.
Right, so does anyone think that the dimwit democrats give a flying f***g about inflation? Bring on the bear flag
Alex Jones has being going off lately.
Downside Dollar gap closed : https://saturationtiming.blogspot.com/2021/07/dxy-dollar-index-closing-hidden-gap.html
They should handcuff Powell and everyone with him. No more “hearings” are necessary.
Bitcoin is down about 5% since I warned about it two days ago.
https://stockcharts.com/h-sc/ui?s=%24BTCUSD&p=D&yr=0&mn=9&dy=11&id=p62683971483&a=977627074
long BBIG
This GDX low relative to stocks (instead of dollars), is obviously much more important than the March low and therefore much more exciting. The flow of funds into this space is likely to surprise all of us.
GDX vs QQQ
https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=D&yr=1&mn=1&dy=15&id=p32516420783&a=978546851