Wednesday, January 9, 2008
Interesting Gold Ratios
While gold is currently trading [rightly] as if it is the best currency on earth - including oil, it is also beginning to take on a bearish tinge measured against the industrial metals and importantly, silver. It is still technically bullish vs. the other metals but the ratio charts are at least hinting that we could get a dose of 'it's really not as bad as the headlines (and stock market action) would have us believe' sentiment somewhere in here over the next several weeks. I surely think that the dangerously (and immorally) levered up 'something for less than nothing (debt)' financial economy is still in deep trouble, but real (productive) industries are well intact - for now.