The one area I can claim to have been persistently bullish – – precious metals – – continues to thrive. As we approach a new trading day, gold futures are at their highest levels in history, with $2600 within reach and a full $100/oz under its belt in just a few days.
Percentagewise, silver is doing even better, gaining about 10% in just the past few trading sessions. I think metals could be due for a “pause that refreshes” right about now, but medium- and long-term, I think they’re going to be standouts.
I say that because of the ratio charts, which is my go-to evidence when it comes to precious metals. Here we see gold versus the US dollar index, and it is definitely breakout time.
In a similar fashion, here is silver divided by the consumer price index. Once again, this is a bullish setup.
Hang on to your real money, folks! It’s going to just get more real!
