From the Desk of Ian Culley @IanCulley
Precious metals represent an opportunity cost.
The entire complex – gold, silver, platinum, and palladium – has gone nowhere for the past few years.
Yet I can’t overlook the resilience of gold and silver as interest rates and the US dollar rise – two significant headwinds for these shiny rocks.
Perhaps they deserve the benefit of the doubt.
I believe they do.
But extending these lackluster metals with a favorable outlook does not equate to taking a long position.
It’s far from it.
Price must prove buying precious metals offers a rewarding proposition.
The following two intermarket ratios will undoubtedly rise if and when it does.
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