Video: Gold Needs Stock Market to Peak & 1998-1999 Comparison
The LT negative correlation between Gold and Stocks remains in place. Gold may not restart its bull until the stock market peaks.
The LT negative correlation between Gold and Stocks remains in place. Gold may not restart its bull until the stock market peaks.
That’s precisely my take.
But I have the bond market sandwiched in between as the key transmission link.
Gold has been down on rising yields.
Market topping suggests ‘flight to quality’ cough. Relative safety, anyhow. For now.
MANY EWers have a number of 4,5 unwinds ahead of a top. Each taking a few weeks. So perhaps by spring.
I can see one of them giving us a tradable retrace much sooner though … EOM or so.