From the Desk of Ian Culley @IanCulley
What will it take for gold to make new all-time highs?
A weaker US dollar and falling real yields are likely candidates for leading catalysts.
We can also add a significant unwind in commercial positioning to the list.
Meanwhile, it’s a range-bound mess.
Let's stick to the basics. Uptrends – at the core – come down to more buyers than sellers. And risk-on/risk-off intermarket ratios provide excellent tools for tracking whether bulls or bears dominate a particular market.
After the recent bout of selling pressure, one precious metal risk ratio is approaching a potential inflection point…
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