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Here is the planetary representation I came up with called the Macrocosm. The larger the planet, the more positively relevant to gold mining macro fundamentals.
Just about the only sector whose ascent I celebrate is precious metals, and we have a positive event this morning in that regard as GDX blows past resistance.
As big a fan as I am of gold, I’d like to point out that it seems to have exhausted itself for now. GLD has a price gap at 310.31. Considering that the other “anti-dollar” trade, Bitcoin, is up thousands of dollars to a record high, this is a pretty dismal performance from gold. Shorting GLD with a tight-stop seems like an intriguing risk/reward ratio.
