Gold Hits All-time Highs

JC Parets
March 5, 2024

The stock market is near new all-time highs and getting all the attention.

Crypto Currencies are breaking out and everyone is all hyped up for another Defi Summer.

Meanwhile, Gold is quietly hitting new all-time highs.

Never in history has Gold closed at a higher price than it did yesterday:

Completing this multi-year base would go a long way in getting the next leg higher started for Precious Metals.

I've actually been impressed with how well Gold has held in considering the stronger Dollar and elevated real yields.

But historically, if precious metals are doing well, you're likely to see Silver outperforming.

You haven't seen that, yet...

Here's the ratio between Silver and Gold trying to find support at exactly the 61.8% retracement of the entire 2020-2021 advance:

If you start to see Silver outpacing Gold here, that's likely happening in an environment where investors are (finally) making money in precious metals.

It's been a while.

This was a big topic we discussed last night during our Monthly Charts Strategy Session.

Premium Members can catch the replay here:

This is one of my favorite exercises.

It's the cheat code.

The ability to use multiple timeframes in our analysis is not something that can be done well outside of Technical Analysis.

This Monthly Strategy Session forces us to zoom out and identify the direction of primary trends.

THEN, and only then, can we drill down to shorter timeframes for more tactical opportunities.

Premium Members can access last night's video and slide deck here.

If you're not already a Premium Member, you can download our Technical Analysis Bootcamp video to get automatic access to our Premium Content, including last night's Conference Call.

Download that here and then let me know what you think.

JC

 

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