Gold/Silver Ratio - Confirmed August-1929 Style Break-Out & Cross-Asset Implications

Gold/Silver Ratio – Confirmed August-1929 Style Break-Out & Cross-Asset Implications

Below I plot the ratio of gold vs. silver.  August closed with a clean break above resistance dating back to the very early 1990s. A longer-term look at the ratio is even more revealing.  It shows that the bear cycle…...

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Gold Miners: Historically Asymmetric Long Opportunity?

Gold Miners: Historically Asymmetric Long Opportunity?

Below I plot the long-term ratio of the ratio of the FTSE-JSE Gold Miners Index (USD) vs. SPX along with a linear trend and its regression equation.  Data dates to the late 1800s. As you can see, price is well,…...

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Glimmers of Hope Amid the Worst Gold Miner Secular Bear Market in History?

Glimmers of Hope Amid the Worst Gold Miner Secular Bear Market in History?

GFD has a FTSE-JSE Gold Mining Index that dates back to the 1800s.  Within that data I count three major secular bear markets: 1888-1931 (~42 yrs) 1946-1971 (~25 yrs) 1980-Current (~38 years) In USD-terms I analog index price data for each…

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…

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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Heightened Prospects of a Material Single-Day Plunge in Gold

Heightened Prospects of a Material Single-Day Plunge in Gold

In a recent post on gold we highlighted its generally bullish position with respect to our historical framework but added the caveat that it faced a significant near-term test – i.e., the 1993 analog comparison which showed how it had traded…...

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A Look at Gold Miners

A Look at Gold Miners

I’ve relentlessly made the case for gold on this site over the past year or so, believing a major bottom was approaching. Less focus has been placed on the miners, but it’s worth visiting that group as the rally they’ve…...

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Miners Held Steady as Gold Reached a New Low this Week

Miners Held Steady as Gold Reached a New Low this Week

Courtesy of ST the following occurred this week: Even with gold itself hitting a new low, the gold mining stock indexes are at least 5% above their own lows. The only other times this has happened, using the HUI Gold…...

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PMs Appear Green-Lit to Advance

PMs Appear Green-Lit to Advance

In the chart below take note of the simple fact that the DXY index (USD) appears poised to break down from a consolidation/flag pattern formed by lines (1) and (2) through much of 2015 at inset (A) while at inset (B), it is…...

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