1) $Gold down > 2% today after bumping against breakout level for 2W. Just couldn't do it even with that 1 day WSB $silver push. And now back in middle of that channel.
But there's a silver lining. Outperformance of both $XAU ...
$SPY $QQQ $GLD $SLV $GDX
But there's a silver lining. Outperformance of both $XAU ...
$SPY $QQQ $GLD $SLV $GDX
https://twitter.com/ResearchQf/status/1355280150078828544
2) (PM mining index) and silver today is pretty rare and at least a very ST positive.
Both silver and PM miners have much higher beta on both up and down days. And today was a big down day for gold.
This happened 23 times since 1996. Miners (XAU) were up the next day 18 times.
Both silver and PM miners have much higher beta on both up and down days. And today was a big down day for gold.
This happened 23 times since 1996. Miners (XAU) were up the next day 18 times.
3) Most recent occurrence was 3/31/20.
Haven't had time to look at intermediate term returns, but eyeballing the chart, multi-month risk/reward skews positive when XAU is at lower end of a 6-9M range, even in late 2011 after the bull market's end and in 2013 during the midst ...
Haven't had time to look at intermediate term returns, but eyeballing the chart, multi-month risk/reward skews positive when XAU is at lower end of a 6-9M range, even in late 2011 after the bull market's end and in 2013 during the midst ...
4) of a steep downturn.
Silver also held key technical levels last few days.
Breakout levels are now even lower. Wait for gold to close above ~$1865-1870 and GDXJ to close above $55-55.5 to press.
Silver also held key technical levels last few days.
Breakout levels are now even lower. Wait for gold to close above ~$1865-1870 and GDXJ to close above $55-55.5 to press.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
