Commodities Analysis by Jordan Roy-Byrne, CMT covering: XAU/USD, Gold Futures. Read Jordan Roy-Byrne, CMT's latest article on Investing.com
’s breakout in March from a 13-year cup and handle pattern as extremely significant and the major turning point for a new secular bull market in precious metals.A breakout and strength in real terms is imperative for capital to flow beyond only Gold and large gold producers.
Gold has exploded through the cup and handle pattern and $2100, but Gold against the 60/40 portfolio continues to meander below the red line. Next, we plot the Inflation-Adjusted Price of Gold and the Barron’s Gold Mining Index below.Gold vs. CPI is close to breaking out of a 45-year base. If the next move higher is strong enough for the inflation-adjusted Gold price to break to new all-time highs and Gold to break out against the 60/40 portfolio, it would be a far more significant development than breaking $2100.Importantly, I hold quality companies poised for huge returns in that environment. We shall move down the risk curve only when a new secular bull is confirmed.
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