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Precious Metals Update - 2/2/18

xau/yahoo gold silver breadth precious metals

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#1 fib_1618

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Posted 03 February 2018 - 05:38 PM

I just thought I would swing by and give a quick update on the XAU/Yahoo data as of Friday's close..

 

Since the December 11th lows, you can see that the rally in gold never quite had the underlying breadth leadership that one would like to see if this were to be an important turning point, though the PM McClellan Summation Index's forecast of a December bottom allowed for a tradable turn anyway (no less the bearish sentiment at that time). With the interest rate sensitive issues now screaming for higher rates over the next 6 months, the bearish divergence point seen on January 24th could turn into a significant downside event for this asset class as higher rates is gold's number one enemy. Another problem here is that this same Precious Metals breadth MCSUM wasn't quite able to move past the +308 level on this latest run, and a failure like this to move up and through the +500 level re-enforces the larger bearish trend of the last 6+ years.

 

At this point, the next window for a tradable bottom remains sometime in the late spring, but if we see continue to see interest rates rise even further over the next few weeks, we might not see another window until sometime in August.

 

Fib

 

xauyahoo020218.png

 


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#2 jacksterr

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Posted 03 February 2018 - 07:03 PM

Thanks for the update, it's appreciated!



#3 dougie

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Posted 03 February 2018 - 09:34 PM

So Fib: I take it you are not invested in Miners or Gold?

THanks!



#4 MaryAM

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Posted 05 February 2018 - 05:37 PM

I bought all of my gold many years ago below $500 - some in the $350 range.  When it got above $500 I thought it was too pricey for me.   I don't give a darn what the price does, I only care about how many ounces I own.  Same with silver, I loaded up a long time ago at well under $10.  Just sit and hold.  



#5 dharma

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Posted 06 February 2018 - 11:28 AM

I bought all of my gold many years ago below $500 - some in the $350 range.  When it got above $500 I thought it was too pricey for me.   I don't give a darn what the price does, I only care about how many ounces I own.  Same with silver, I loaded up a long time ago at well under $10.  Just sit and hold.  

in the same boat. i do have a trading account where i buy and sell miners.  but for the metals . i havent done a thing since 05

dharma







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