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I realize that trading hours can influence the net percentage change of different financial instruments, particular when it comes to precious metals. I was struck, however, by the fact that palladium futures are up 6.22% as of this moment whereas PALL is up only 4%. I then decided to look at a ratio chart of the two, which I figured would be a straight line across the screen, but……….nope. Any ideas on this strange relationship?
Although the equity futures such as the /NQ are continuing in their directionless, meandering, maddening drift, day after day………
Let’s take a fresh look at the long-term ratio chart of XME/GDX. It illustrates how, over a period of decades, the relative value of these two metal-related ETFs tends to oscillate with some regularity. It seems to me that XME is presently heading for some serious weakness relative to GDX.
Although I’m a big fan of precious metals (particularly palladium these days), and there are a couple of individual metals miners that I think are terrific long positions…………
I was looking at CME GC Gold Futures, August 2025 expiry, 2 weeks down and reached a price area that my model considers oversold:
