{"id":53378,"date":"2020-12-02T11:01:18","date_gmt":"2020-12-02T16:01:18","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=53378"},"modified":"2020-12-02T11:01:18","modified_gmt":"2020-12-02T16:01:18","slug":"metals-ratios-continue-to-indicate-inflation","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2020\/12\/metals-ratios-continue-to-indicate-inflation\/","title":{"rendered":"Metals Ratios Continue To Indicate Inflation"},"content":{"rendered":"

And that is welcome for monetary and fiscal policymakers of course since inflation is the only trick they have up their sleeve to bail this mess out once again. And this is no comment on COVID-19. The economy was slowly decelerating last year well before COVID-19 showed up.<\/p>\n

The yield curve bottomed and turned up in August of 2019 as manufacturing was slipping, long-term yields were tanking and other economic signals were fraying in the wake of the trade war. So please, no convenient COVID excuses.<\/p>\n

See:\u00a0Yield Curve Hits New 2019 Steepener Today<\/strong><\/a><\/p>\n

They were preparing to inflate because the Continuum told them to prepare. COVID-19 dropped the final hammer on the situation and brought the inflation on quicker and more intensely than might have otherwise been the case.<\/p>\n

\"30<\/a><\/p>\n

So anyway, on to the lovable Amigos.<\/p>\n

\"\"<\/a><\/p>\n

The\u00a0Copper\/Gold<\/strong>\u00a0ratio is getting hysterical (despite nominal gold\u2019s big day today) and overbought on the daily chart.<\/p>\n

\"copper\/gold<\/a><\/p>\n

The weekly chart shows the congestion area that could at least temporarily halt the furious climb.<\/p>\n

\"copper\/gold<\/a><\/p>\n

The\u00a0Silver\/Gold<\/strong>\u00a0ratio has thus far held its breakout through the entire precious metals correction. As it stands now, that\u2019s pretty impressive\u2026 and still inflationary. Gold is more monetary while silver has more commodity (and thus, inflationary) characteristics.<\/p>\n

\"silver\/gold<\/a><\/p>\n

The weekly chart shows the longer-term picture of this still-constructive status.<\/p>\n

\"silver\/gold<\/a><\/p>\n

Bottom Line<\/strong><\/p>\n

While Copper\/Gold looks like it could blow off and either blow out or correct for a while, Silver\/Gold has hung tough. Silver\/Gold began to move in early March, before the hysterical rally in Copper\/Gold was even a twinkle in the optimistic reflationary market\u2019s eye.<\/p>\n

It\u2019s time to watch the Silver\/Gold ratio for new forward indications, and let the industrial metals hysteria play itself out. But make no mistake, Copper\/Gold is the tail and Silver\/Gold is the dog. Not the other way around.<\/p>\n

Check back to see my next post!<\/p>\n

Best,
\nGary Tanashian<\/a><\/p>\n

For \u201cbest of breed\u201d top-down analysis of all major markets, subscribe to NFTRH Pre<\/strong>mium<\/strong><\/a>, which includes an in-depth weekly\u00a0market report<\/strong>, detailed interim\u00a0market updates<\/strong>\u00a0and\u00a0NFTRH+\u00a0<\/strong>dynamic updates and chart\/trade setup ideas. You can also keep up to date with actionable public content at\u00a0NFTRH.com<\/a>\u00a0by using the\u00a0email form on the right sidebar<\/strong>. Follow via\u00a0Twitter<\/strong>\u00a0@NFTRHgt<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

And that is welcome for monetary and fiscal policymakers of course since inflation is the only trick they have up their sleeve to bail this mess out once again. And this is no comment on COVID-19. The economy was slowly decelerating last year well before COVID-19 showed up. The yield curve bottomed and turned up […]<\/p>\n","protected":false},"author":31,"featured_media":53382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6920],"tags":[3438,2082,31375,4273,23,9526,294,14537,102],"class_list":["post-53378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ino-com-contributors","tag-chart-analysis","tag-copper","tag-copper-gold-ratio","tag-gary-tanashian","tag-gold","tag-notes-from-the-rabbit-hole-nftrh","tag-silver","tag-silver-gold-ratio","tag-technical-analysis"],"yoast_head":"\nMetals Ratios Continue To Indicate Inflation - INO.com Trader's Blog<\/title>\n<meta name=\"description\" content=\"The\u00a0Silver\/Gold\u00a0ratio has thus far held its breakout through the entire precious metals correction and that\u2019s pretty impressive.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2020\/12\/metals-ratios-continue-to-indicate-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Metals Ratios Continue To Indicate Inflation - 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