RE: No news,but19 Oct 2021 12:00
I get it guys, I really do :)
Gold is rich men's, er Gold - Silver is poor man's Gold.
BTC is young people's Gold and incredibly retail because of that so always a red flag but ...
It's just set a new ATH weekly close so you can't afford to ignore that whilst big miners - particularly ARB - are at a really very nice place on the chart right now.
Which is the best shout right now? I've no idea but inflation is the driver for sure - I suspect we'll be into an industrial downturn narrative in the coming weeks/months and that'll hurt Dr Copper for sure hence my shout for a top around now but if it sets a new high then go with the mo obviously.
Copper inventories being emptied is a standard pump narrative at the top - why are they empty? Because the powers that be have offed it all onto the market to drive inflation but ...
Only so much inflation via real-world prices can be managed before it all blows up - so - the next inflation driver as I see it, and on the back of the industrial downturn narrative, is YCC in the new year when Powell is replaced by Lael "YCC" Brainard to kill bonds and ensure that inflation stays at their targeted 15-20% pa in the real world but this time it'll be monetary policy that drives it, not artificial pumping of commods via artificial "supply constraints".
As long as the inflation narrative keeps going then both Gold and BTC will do very well - Copper and Silver are likely to be hurt by the industrial downturn narrative as and when it arrives.
FWIW - that's my read.