"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Wednesday, February 3, 2010

Gold Monthly

Well given the improvement in CoT (and the likely continued improvement post-release) and given the recent stressful tenor of the markets, it is probably time for another calming look at gold.  Not silver, not copper... gold. 

Do not let the commodity bulls tell you it's all the same.  You know, the ones who talk about "the metals" lumping Au, Ag, Cu, Pd and Pt, Ni, Mo and whatever else all lumped into "the metals".

There is only one metal that is sought after during acute monetary stress and that metal is making strides toward reasserting its out-performance mode vs. "the metals".  That is because credit stress is popping up all around the globe post-crash and subsequent to the frenzied papering over of the damage that has gone on throughout the entirety of Hope '09.

So here's the gold monthly.  Reflect upon its calm and for crying out loud, don't worry about every little $50 move.