Gold Hits New 52-week Highs?
Three weeks ago we thought these developments were worth a long entry.
And now we're seeing new 52-week highs.
This is an area we continue to like moving forward, ESPECIALLY with the strength we're seeing despite a stronger US Dollar.
Didn't see that one coming!
Never a dull day in public markets.
Who new JC would turn into a gold bug?
But hey, if an asset is going up in price and I own it, you can call me anything you want!!
Look at that chart. Doesn't it look like a clean stair step higher?
This is the price of Gold relative to the entire CRB Commodities Index. Remember, Commodities (ex-Gold) had been the best asset class on earth since the market bottomed after covid Spring 2020, even better than stocks.
So if Gold is EVER going to bottom out relative to Commodities, this looks like a logical place for it to do it.
I think this is a big chart to be watching right now.
Can they dig in here?
I think they can.
What about relative to stocks?
Again seems like a perfectly logical place for Gold to FINALLY start to outperform stocks.
It's been a minute
What do you think?
JC