Let’s all clap for Dr. Copper!....................
As a Goldbug, this stuff actually interests me. It’s my only interest besides FOOD and gardening, LOL! :)
Beware the “economist” who wants to sell you gold. Retail gold is a fool’s game. You pay a commission to buy it, and another commission to sell it. The house always wins.
We have all heard how over the centuries an ounce of gold would always buy a tailored suit. This isn’t an wierd accident. There is an arbitrage between commodities+labor and gold.
Pundits right now are saying that it is puzzling that gold is up but gold miner stocks such as GOLD aren’t up more.
Many times when gold price rises from people speculating from charts and “tips”, and panicing out of stocks due to market rumors, gold miners do even better than gold itself.
I think when gold is up but gold miners aren’t “coining” :) money, it indicates you are really seeing monetary inflation. All the inputs to mining and refining are up - inflation is Leading gold. Energy needed to mine and refine, labor, land, food, machines.
So thats my take, copper may be a tell, but I think gold doing better than gold miner stocks is indication of gold responding to monetary inflation, which implies that it will not be retreating.