InterMarket Gold & Silver Analysis
Kevin Klombies
Excerpts from Klombies Inter-Market Relationships Analysis
Below we show gold times the dollar (DXY). Dollar and gold weakness has taken the product of the two back to channel support. If we get a bounce here then the chart argues that the gold mining stocks should be 1 to 3 months away from a 15- 20 point price spike (if the 1999 and 2001 relationship is repeated).
Below we show gold futures and the ratio between the XAU and Barrick (ABX). Very close to an upside break here. Bottom we show the gold/XAU ratio (scaled upside down) and gold. Once again... very close to a positive signal on gold that could take it back towards 400. Keep in mind that 'very close' is not a buying signal.
May 6, 2003
A Daily Review of Global Capital Market Trends
Kevin Klombies Editor/Publisher
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