Breaking Down Gold vs Foreign Currencies, US Markets, and the USD
With all the recent talk of a weak USD you would think that the PMs would have been really benefiting. As Jordan Roy-Byrne, Founder of The Daily Gold points out gold has remained relatively weak against not only the USD but also foreign currencies. The bounce in GDX reached 10% but is not reversing. Most likely we will get some volatility after the Fed rate hike and announcement but what we really need is a significant trend change.
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Gold is riding its daily chart long-term uptrend line for the 2000-> gold bull.
Here’s a monthly version:
http://schrts.co/73W86h
For those who can access monthly charts, Fransix’s great gold chart
For those who can’t see it, it shows gold under the long-term Shadowstats inflation trend line for the fourth month now; these are the first monthly closes below that trend line since 2005.
Here’s an earlier version of that chart that implies 2 years below that trend. Maybe the angle needed an adjustment later?
http://schrts.co/CY7CSo
Ha, good question!
Perennial optimist and glass-half-full kind of guy that I am, you know which way I think it’s going from here 😉
Any time now 🙂
That would be nice GH, for a change.
Howdy
I warned years ago of this and of Bob Moriarty delusions.
http://www.avaresearch.com/articles/precious-metals/gold-has-no-intrinsic-value-this-is-a-fact-based-on-finance-and-economics
This “fact based on finance and economics” is clearly not based on reality. What a complete dope that guy is.
Matthew, 95% of all humans don’t know what an EMP bomb is and if they do they don’t care. The only thing that interests them are their smart phones that make them look like dummies, in fact their phones make them look like crash test dummies, I think they prefer the latter. LOL! DT
Ya Hell….Im really kicking myself for selling my door stops @ $49 oz..
As if that’s the point when you post your idiotic ava crap. DUH
He makes some good points.
From 1971 to 2018 is almost 50 years.
Thats alot of storage costs.
Real estate blows gold away, unless you do what Bills fellow suggests, but as he says, timing is everything, I guess it is with real estate too.
There are times alot of money can be made with JRs if you follow it, but those times seem rare unless your willing to do hours of research and watch screens daily.
No matter how you look at it, since the 1800 top gold has been terrible compared to a multitude of other investments.
This” no rally” from aug or sept does not bode well imo.
He says gold has no real economic value other than supply and demand, which pretty much goes for everything I would think, but then why are Russia and China buying so much?
Re: “No matter how you look at it, since the 1800 top gold has been terrible compared to a multitude of other investments.”
And THAT is completely and utterly meaningless. Is there an asset in existence that doesn’t go through bear markets? The fact is, gold is money and nothing else, and is up 34 fold versus the “mighty” dollar since 1971 (and almost 5 times since 2001). As a buy-it-and-forget-it store of value, no other asset comes even close to gold. Imagine buying Eastman Kodak and forgetting about it in 1975. Or how about almost anything but GE in 1930?
Gold gets compared to the Dow because it has done so well for such a low risk asset but it should not be compared with anything but government paper — which it smokes.
My comment had/has nothing to do with gold as/is money, but as an INVESTMENT since about aug 2011.
So I think what YoUr saying is completely and utterly meaningless.
Look at it however you want, but as an investment?
5-10% phyzz…90-95% sumtin else.
Yeah, ok little b.
Dont worry, gold will turn eventually, then you can say you saw it coming for years.
Yes, it will turn like it and all markets always do. I’ve known that for years. 😎
Bill:
You have sent me hundreds of emails, for years you acted as if I was you free advisor. You consistently invested using a rear view mirror and all your losses were somehow my fault.
I really hope you were long GGI when two days ago I warned about “Buy the rumor, sell the news” and I sincerely hope you dumped all your Novo when it was well under $1. I would just hate thinking that you made a cent off my and now all you can do is whine like a 10 year old cry baby.
By the way, your latest GURU is a liar when he said, “I even published an announcement in fall of 2011 that I was selling the last of my silver coins when the price was just under $50 an ounce.”
Just so you know, silver entered the fall of 2011 at $32 and left at $28 and came nowhere near $50. But if you want to know who called the top 100 times more accurately that that lying fool go here.
http://www.321gold.com/editorials/moriarty/moriarty042511.html
With no exception that I know of you are by far the biggest loser and whiner on the board. If your guru thinks gold isn’t ever going up, go buy some cliptocurrency.
Bobbo. ” the dollar is used toilet paper….BUY GOLD!”
Gold topped and the Dow entered a massive bull market. End of story.
I was right here and told MANY friends getting ready to buy CRAPTO to run for the hills days within the top.
I also said BUY WEED. Put up a chart of WEED to ZJG for the July 2016. Hope some pick some up….a trade worth doing. Not like watching pain dry. THOSE ARE FACTS. Fool
Bill:
You have a clear agenda which is “try to make Moriarty look stupid because that makes me look smart” and the problem is that it doesn’t work. You are too stupid to understand that a lot of people on this board are well away I have nailed a lot of calls. Like anyone that is honest, I don’t make 100% perfect calls. Those who claim that they do, such as you and your latest fool, are liars and conmen.
Markets go up, markets go down. If you think you discovered that or your lying GURU did, I’m sorry but it’s not so.
Keep making a fool of yourself by opening your mouth. It’s entertaining. I like it best when you post after you have had too much to drink. That’s really entertaining.
Rates going up will put a damper on Real Estate……
Gold was $35 in 1971………is now $1200……
From the language is offset by the dots which show the FOMC is full speed ahead for four hikes this year and three hikes in 2019.
I think we’ve got a head-and-shoulders bottom in the works for the gold miners:
http://schrts.co/S1wjf4
Nothing scary here:
http://schrts.co/w9wa1e
Or here (miners priced in gold):
http://schrts.co/WABEQs
Miners down 36% 1yr. Maybe a dead cat coming but new lows today…
Bill is here. Bottom’s near.
I think so BDC but not BS bull.
Hey super star Matty. Where can you invest, leverage, get a large paycheck retire rich pretty much guaranteed? No need to gamble and guess and live off hope.
Common dough head?
Common? Oh, you mean “come on” or c’mon. Are you absolutely sure I’m the idiot? Of course you are Mr. Dunning-Kruger.
Buller…..Buller……Matty?
You want to take a run at me? AVA has a shit ton correct. I use to talk to Sprott years ago and send market info that went to their morning sessions…I was always invited to their private broker meets. I bailed before they blew up. Don’t believe me… hunt down James Foxx….head of marketing and sales way back…good guy and conservative…There’s NO guarantees in this BULLSHIT you call investments that you are so obsessed with…. you fricken idiot. Ive seen the best of the best blow themselves and mega innocent people. Take a walk off a short pier smart ass.
Buller? lol How about Bueller?
No dumb ass that’s your new handle and spelling.
ANS the Q DUMB shit.
So, time will tell
Guessing / gambling and hope is not the biz I’m in. That’s just exactly what you said.
Ill tell dip shit what works. I signed a new tenant. 10-15 y the biggest cell company in the country. Pretty happy about that. Recession, depression, boom…people will give up food and toilet paper before they get ride of their cell. HUGE pay cheque go to BED.
Bill:
If you are so rich and so smart, why would you care about posting here? All you do is make yourself look like a whining loser.
Mr Bob,
Its simple I read and watched for years and then you see there a couple of people that even have a clue on the planet. If anyone has any sense here they should now see that…….Your fear mongering over the years is nuts. Still sleeping on your money?
I pointed that out eons ago. fool
I made a lot of money on EVERYTHING that you said would blow up. FACT.
Bill:
If you found a sure thing that worked for you every time, you wouldn’t be whining about how smart you are and how dumb everyone else is.
You would just shut up and keep smiling.
For example, every time you open you mouth and puke some more stupidity I know you have just nailed another low in gold. I sit back and smile.
FACT
LOL Bob
That’s why I spend 4 mins every couple days here.
Did you not read what I said. I said people HATE gold so it is probably due for a good run. Doofus. Why do I have to repeat myself?!
under $1000 could still be coming.
Was I ever wrong following historical s this year.