As I mentioned in a previous comment, I'm on a brief sabbatical from STFU. But I see our friend Gary requested a chart a while back, so here are six (no financial repression here!).
First, a big picture view of gold.
Looking at 5 wk exponential moving averages in 5 major currencies, we see (1) the 2013 crash was minor in the big picture, but (2), (as I've been saying since then) that marked the end of the bull market of 2001-2011, and consequently, it would take some time before the next up-leg. Regarding which (and I'm in complete agreement with the most rabid gold bugs here) is on its way. Just not yet.
Incidentally, I have to laugh at the establishment types and apologists who think gold has no tie-in to macroeconomic fundamentals anymore. I.e. the blinkered ones who willfully refuse to see the tie-in between the growing debt (and consequent income inequality) since the 1970s and the jettisoning of what was left of the gold standard.
... e.g. note when the wage curves actually flatten, and where the New York Times puts the vertical demarcation here:
|If you integrate under (Productivity - Wage), you get ($$ stolen by Financial Parasites)|
|As I predicted it would do when I unveiled this chart many months ago, gold hit the MA-rainbow and has turned, just as it has done in previous corrections. Keep your eye on the horizontal green RSI line above.|