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Gold Ratios

For your viewing pleasure, some pictures that readers of this site and NFTRH.com have been aware of for some time now and NFTRH subscribers are repeatedly kept aware of (whether they like it or not).

Gold is not just another metal...

GLD:DBB

Gold is not Palladium, a flipped over version of which (weekly PALL-Gold) gave us a DOWN signal months ago.

GLD:PALL

Gold is not just another commodity...

GLD:DBC

Gold is much different in its best investment environment from the things previously promoted to have been beneficial for oil...

GLD:USO

Silver is not gold either. But it's much closer, which makes it a sensitive component of the metallic credit spread (Hat tip, Hoye) to economic, financial and monetary events...

GLD:SLV

And of course Gold vs. US Stock market, making a move but still technically in a big picture downtrend...

GLD:SPY

Gold vs. Euro-hedged Europe...

GLD:HEDJ

Gold vs. Yen-hedged Japan...

GLD:DXJ

Gold is none of these things, because gold does not do anything other than sit there as a solid, pretty rock that irrational humans have alternately over obsessed upon and ignored for long stretches. That is what makes it a marker or barometer. Its very lack of utility and income distribution make it the anti-asset. In that resides its value when the levered up games start to unwind.

Other than that, I have no strong opinions on gold.

 


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