How the S&P takes shape over the coming weeks will likely tell us if we can get to a new all-time high before that long-term bear market begins in earnest.
For the foreseeable future, copper supply is 80% concentrated in just five mines, all of which have major off-take agreements with South Korea, Japan, or China.
CPM Group Founder Jeffrey Christian: "Investors should always have a portion of their wealth in gold and silver. How much depends on political and economic conditions."
26 of the past 48 Decembers have been net positive for Gold, including each of the last six: +2.6%, +4.5%, +3.4%, +6.4%, +2.9% and +3.8% from 2017 through 2022 respectively.
Gold’s big winter rally, with potential to grow bigger than usual, is fueled by outsized demand first from holiday jewelry buying, then New Year investment buying.
Regardless of whether the stock market’s Goldilocks flavored rally continues on to test or even marginally exceed the 2021 high, the negative signal by Copper/Gold is intact and waiting.
