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The question is ‘why?’. Why do Jerome Powell and the Federal Reserve continue to tilt against the fading enemy known as inflation?
Just as a standard financial insurance policy is meant to only pay out when bad things happen, gold will only pay out when bad financial things happen. Sure, it’s assigned price can rise with other asset markets, but it’s price related to risk assets will under-perform when said risk assets are in a bull phase or an unbroken bubble.
As you can see, the bubble in policy-making, and thus, risk assets, is unbroken. Insurance has not been needed, yet. Why would anyone want to speculate on gold when its relative performance is so poor?
(more…)Gold Stock Correction From a Seasonal View
We begin this article, which updates the gold stock correction, as a platform for providing information requested by two NFTRH subscribers. Below are the recent seasonal tendencies for GDX. I’ve elected to use only the years from 2018 to current in order to keep the graph clean and to show that 2023 is shaping up per the norm in the post-pandemic era.
I and NFTRH subscribers have been keeping well aware of the implications of a) USD following its daily chart downtrend, or b) painting the July plunge as a bear trap and going bullish again. We’ll leave the detailed implications aside in this post and simply note that the process is still evolving.
From this NFTRH+ video update (now public), that projected the up move on July 19:
USD can break through it [clear resistance at the time, now support] and test the SMA 50 and still remain in a downtrend.
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They are at it again. Articles catching on to the US dollar breakdown are appearing in the smaller media (e.g. blogs and websites that are ‘perma’ pro-gold, anti-USD, anti-stock market, pro-financial Armageddon, pro-emotional “analysis”), where the thickest bias and dogmatic views are aimed at less experienced investors through emotion.
Yes, gold is bullish. It has actually been bullish on the big picture since it took out 1378 (what NFTRH had targeted as the “bull gateway”) back in 2019. That began the next leg of the ongoing bull market that began in 2001. Yes friends, gold moves slowly. And why shouldn’t it? Bubbles, like the grand one that is still alive in stocks, move faster. They move faster on the upside and boy do they move fast when they burst.
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