Gold/Platinum ratio (for the past six hundred trading sessions) tells us that it needs to trade over 2.50 for Platinum to be bullish. Current Gold/PL ratio is at 2.56. Not a very hyper short term bullish scenario for PL.
More stress could be on the way, potentially resulting in negative consequences the broader financial system if losses on the bonds trigger a cascading effect that trickles into the stock market.
Gold is moving in a multi-decade incomplete impulsive fashion, from the 35.20 low made back in 1970. Within this impulsive move, we have the following count, which we have now updated within wave (iv)...
Market manipulation are the most likely explanation for the BIS' unaccountability since the bank has advertised to central bank members that its services include secret interventions in the gold and currency markets.
Gold’s price appreciation tracks the exponential expansion of global M2 money supply. Central banks can print trillions of dollars, euros, or yen via quantitative easing, but they cannot print physical gold.
Ira Epstein discusses the current state of the metal markets, noting their stability following a significant sell-off in stock indices.
The precious metals market remains bullish. Can’t rule out new lows for silver, but gold and the gold stocks appeared poised to go higher.
