2024-05-31 09:05:00 ET
Summary
- It makes sense to analyse markets in gold terms as well as in terms of the US$ and other currencies.
- If past is prologue, then GNX won’t bottom in US$ terms until it has bottomed in gold terms.
- There’s a good chance that the bottom for GNX still lies ahead, and that the recent commodity rally is a countertrend move within an ongoing cyclical decline.
Editor's note: Originally published at tsi-blog.com on May 31, 2024
[This blog post is an excerpt from a recent commentary published at www.speculative-investor.com ] ...
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Commodities Versus Gold