Gold/Silver Ratio Very Close to Clearing Nearly 30 Years of Down-Trend Resistance

Gold/Silver Ratio Very Close to Clearing Nearly 30 Years of Down-Trend Resistance

In the chart below I plot the ratio of gold vs. silver on a monthly basis, a thematic I highlighted in this recent post. Since the ratio peaked in 1991 it’s secular impulse has been one of incessant weakness-to-sideways action amid…...

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History Being Made Everywhere: Ratio of Gold Miners vs. Gold Breaking Below 80-Yr Support Shelf

History Being Made Everywhere: Ratio of Gold Miners vs. Gold Breaking Below 80-Yr Support Shelf

Another crazy chart/data point below that’s consistent with much of the other mind-melting (i.e., 200-yr-type historical anomalies) stuff I’ve been putting on the site lately… The ratio of gold miners as an industry vs. gold itself has broken below an…

Commodities: Eerily Similar to the Late 1920s

Commodities: Eerily Similar to the Late 1920s

In the chart below, note the significant break-down from a well-defined, decade+ flag pattern on the Thomson Reuters Equal Weight Commodity Index this month. That looks pretty bad.  Further, a similar pattern formed in the ~1915-1930 time period, with a…...

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Equity/Gold Ratio Too Elevated, Suggests Heightened Risk of Mean-Reversion Event

Equity/Gold Ratio Too Elevated, Suggests Heightened Risk of Mean-Reversion Event

In continuing the commodities > equity thematic that I’ve been building out on the site in recent months, this evening I dug into historical SPX/gold cycles. Specifically, I analyzed the three historical secular peaks in the ratio of the SPX/gold…...

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PM VOL Compression

PM VOL Compression

Below I plot gold and the spread b/t its 48 month high-low price range, which now stands at < 22%. Note that historically such a low spread is quite uncommon. In fact, there are only three other environments  in which…...

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Trust: How Low Can you Go?

Trust: How Low Can you Go?

Occasionally I venture over to the Pew Research Center and review some of their polling data and related commentary covering a myriad of different issues of concern to US citizens.  Numerous Pew polls go back many decades, making some of…...

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What is Bitcoin Discounting?

What is Bitcoin Discounting?

On 2/24/17 I presented the site’s first post on Bitcoin (Bloomberg: XBT).  In it, I compared silver’s set-up over the 1971-1980 period to XBT’s since 2010.  In concluding I suggested the chart-based similarities of the two assets made XBT well-positioned to enjoy…...

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Macro Round-Up

Macro Round-Up

Let’s start with FX as it’s ultimately the most important driver when it comes to major inflection points and cycles in global macro. Here, as I noted in early August, the USD (via the DXY Index) continues to appear as if…...

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Multiple Years of USD Work Suggests Another Secular Peak in Place

Multiple Years of USD Work Suggests Another Secular Peak in Place

Back in March-2015 we highlighted the chart below when the USD was approaching ~100 and noted that at this price level the currency was nearing major long-term resistance line (1) and that it had spent very little time above that resistance…...

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Gold, Finally Ready to Shine?

Gold, Finally Ready to Shine?

If the answer to the title of this piece is “no”, I swear to god it’s the last time I ever write about this god-forsaken metal. Anyhow, in the chart below I plot CHFUSD alongside gold through history.  Note how…...

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