Loading ...The Common Denominator
Fully, your chart reminded me of an older one that I had basically showing that Gold bulls only appear in major market consolidations. The peg hinders the historical ability to show further evidence unfortunately. I believe other things will eventually decouple this trend but thus far its not wrong. Just another way of looking at it.
Valid point, but something to remember is that when you view a log chart like this and call it a ‘consolidation’ it can in fact involve a drop of 50%. At the time, it doesn’t feel much like a consolidation. Much the same can be said when referring to golds rise from $100 to $1900 and back to $1000. On a very long term view, you can call a bear market a consolidation. Inevitably any price correction in assets and commodities is temporary by virtue of the fact that the currency unit you are measuring it in is on it’s way to being worth zero, nada. nothing.
I don’t think we disagree NS. It’s just a way of showing who’s turn it is. I’m concerned for metals into Feb 2019 but think Gold puts on a show in 2019 to add another piece to its consolidation puzzle. The only thing i’m confident in is that we all most likely have the current pattern wrong.
Thanks Schism – very clear “view from above”!
Thanks Patty, nice to hear from you. Would like to here what your latest thought are also.
Excellent