The one and only asset whose ascent I cheer continues to break to lifetime highs. Hurray, killer of central banking! Do that thing you do!

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The one and only asset whose ascent I cheer continues to break to lifetime highs. Hurray, killer of central banking! Do that thing you do!

Given my renewed enthusiasm for gold, I thought I’d go through my 48 charts of gold miners and pick out some favorites. They are below, but I’ve got to tell you, they are NOT great. It’s puzzling to me that such a promising sector has such lame-looking charts, because honestly, there isn’t a single one of these that’s slam-dunk amazing. They’re pretty much “B-“, but if gold rockets, I suppose they’ll all get dragged along, and I might as well show the ones that appear to be the most promising.

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In an era in which the notion of a “safe haven” seems, evidently, to be digital coins, the classic precious metals have been largely left in the dust. It’s nice to see that perhaps this is changing. Gold is, once again, making a real effort to escape the clutches of its resistance line, and it seems to finally have a real chance of doing so. Here are the continuous futures of /GC:

Back in August I wrote an article called Gold: The Anti-Bubble. The point being that if you want to consider an asset to be sound value in a world of ongoing plays boosted by inflationary policy, speculating upon it – especially at a time when the cyclical risk ‘on’ trades are in upside momentum mode – is illogical. As are expectations for it to perform up to par with said bubble beneficiaries (as noted previously, I define the bubble as monetary and fiscal policy and the stock market as a direct beneficiary) as long as… It’s a Bubble, and It’s Intact.
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