Dec 5, 2016
Ned joined us today. The Trump rally has taken $100 off the price of gold. It's an irrational reaction to his election. He's not driving it down much more than that. The dollar's rally has probably has gone as far as it can. How much more can it possibly go? The ratio of gold to the S&P has hit a major low point. This isn't a time indicator, but rather a value indicator. At some point it will correct and correlate. The coming rate hike is baked into the price of gold so don't expect a major reaction on December 14, 2016 when the Fed meets.
New bull market in agricultural commodities is coming. Average gain for ag commodities from their lows is 22%. A good indicator. Worth keeping an eye on.