Gold And Silver Are Outperforming Stock Market
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Gold and Silver are outperforming the stock market as it remains in a bear market. Gold against the S&P 500 closed at a 5.5-month high while Silver against the S&P 500 closed at a 9-month high. Each ratio has two important resistance levels coming up which could mark turning points for precious metals. Silver against the S&P 500 is only a few hairs away from breaking a new 52-week high. The Gold to S&P 500 ratio needs to gain another 4% before it breaks to a new 52-week high. Each ratio would then have a path to reaching 8-year resistance. If that resistance were to be broken, the bull market in precious metals would accelerate.
Video Length: 00:08:16
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But they aren’t recession proof. Which is still on the way. I wouldn’t stack anything strongly just yet. In and out until the market 2023 crash occurs. The fed has plainly said they want to crash the markets more.
A recession is not a given - the jury is still out on that. Despite all the beating drums about a recession, much of the data (e.g. jobs report) that keeps coming out, seems to indicate the opposite.
True, I can't argue with that.