Jordan Roy-Byrne: Is Gold Going to Crash Like 2013?
The Daily Gold, Released on 7/11/22
In this video, we compare Gold at present to late 2012/early 2013. Gold "looks" similar on the chart but that is where the similarities end. The macro-market picture is completely different from that time. Stocks were very early in a new secular bull market. The S&P 500 was about to break out from a 13-year base, as Gold had just risen for 12 consecutive years. Gold is at the same level as 12 years ago and has been outperforming the stock market. The Gold to S&P 500 ratio is above a rising 200-day moving average today whereas that ratio was weakening before Gold's big declines in 1981 and 2013. All of this is not to say Gold's technicals are healthy or that it cannot decline below $1675 in a flush, like in 2008.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.
Jordan Roy-Byrne: Is Gold Going to Crash Like 2013? added by Herman James on 07/10/2022View all posts by Herman James ?+'