The above chart is and end-of-day chart from yesterday. Gold closed at $1484.
At 11:30 AM Central, gold was at $1520, up $36 on the day.
Gold vs Copper
by Mish Shedlock, The Maven:
The above chart is and end-of-day chart from yesterday. Gold closed at $1484.
At 11:30 AM Central, gold was at $1520, up $36 on the day.
Gold vs Copper
What’s the Message?
Stephanie Pomboy at Macro Mavens nails it.
steph pomboy on Twitter
“at the risk of piling-on,the canary in the financial crisis coalmine has been singing loudly. the relationship btw the metallic…
twitter.com
Gold Not an Inflation Hedge
As I have pointed out numerous times, and contrary to popular belief, gold is not an inflation hedge. Gold fell from $800 to $250 with inflation every step of the way.
Rather, gold is a measure of faith in central banks that everything is under control.
Gold vs Faith in Central Banks
Everything Under Control?
Clearly not, and I have easy-to-understand proof.
If you believe gold tracks inflation or is some kind of inflation hedge, you need to think again.
Only in hyperinflation or its mild form, stagflation, is gold an inflation hedge. But even then, both are synonymous with central bank stress.
Hello Treasury Bears
Let me make it simple: It’s the debt, stupid!
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