Fundamentals still looks bearish for gold. This rally must be sold.
Wow! Who thought of this correlation?
bkx to spx is a measure of confidence to financial system
This chart is insanely good.
I might add that $BKS/$SPX looks quite toppish.
But you all knew that.
Can you think of a way to do this using European banks vs. STOXX/Gold??
I guess Europen banking system is in a problems, but it take 6 - 12 months to play out. So this gold rally is an opportunity to ligten positions in gold miners. Rise cash to use it for accumulation of gold miners when new lows comes.