Probably THE most important ( and the most Depressing) Gold Ratio Chart in the Goldosphere

My email bud Chris in Ontario just sent me a chart he has been watching and he feels it is at an important inflection point.

Chris’s Comments :

Hi Fully

As you know, I keep an eye on the XAU:Gold ratio, and for 30 years it has been a depressing sight. Have a look at the chart below and continue that top trend line into 2020/2021…

Ans where are we now? The ratio only has to rise a small amount from here and it will be up against that top rail. Sooooo…. is that a 30 year bullish declining wedge? We may soon find out. Of course the miners could head south at any time, and we would have to sit and watch that horrid ratio fall further as the trend line sends it reeling downwards again, but, it seems that the stars may just finally be in alignment to break the trend and confirm the 1st true bull market in miners since the last one that ended in 1996!

This would be a good one for Patrick to chart.”

………..

I took a look at it and slowly recognized it was a chart I did a couple years ago…but had completely forgotten.

Looking for it to up date in my Stock Chart Files it appears I have deleted it !

I copied it from Chris’s email ..looks like it was created in Jan 2019 . It tells a woefully sad tale of Gold Stocks as compared to Gold fora very long time…including ALL through the Great Bull Run from 2001 to 2011 ! The Gold Stocks UNDER PERFORMED ever since the great Bre-X Scandal…when the head geologist jumped ( or was pushed) out of a Helicopter in Borneo , taking Gold stocks down with him !

Here it is recreated…

This is a HUGE deal. Thanks to Chris for bringing it !!!

Will we hit that top line and bounce back a little before gathering energy to finally end this Grizzly Bear ?

OR will we Just Blow thru it and cut out the heart of this Thing ?

Or will this just be another Bear Market rally and we bang off this resistance and plunge toyet Lower new Lows…HORROR of HORRORS !
…

For some clues lets look at the daily chart

woah !