3 charts from the macro perspective
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The gold/silver ratio, DXY and the US 10-year bond yield; regular readers would be familiar with charts of all three dating back to September 2022 (at least).
The below weekly chart shows that rates may still have lower to go – toward the yellow support zone we have shown. Gold may be in the process of sniffing lower rates out already, and stock indices too may be stubborn about falling any lower.
A look at the weekly DXY chart shows it is finally approaching the highlighted support zone we have been showing for months. As of now, the price looks ready to make contact with the bottom Bollinger band, which is directly in the support zone.
And the gold-to-silver ratio shown below on a monthly basis looks ready to make contact with the bottom Bollinger band as well.
Metals bulls have had a relatively unchallenged move up from the bottom in September thus far; participants would do well to anticipate increased volatility (in either direction) as the above shown support levels come into play.
Thanks and have a nice day.