GOLDBUGS AMEX Goldbugs Index (GOLD)

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Benchmarks & Precious Metals
By: Marty Armstrong | February 18, 2021

While silver made its high precisely on the target week with its Benchmark, now we head into the gold benchmark next week. This is so far providing a mixed-signal that has been on track for what we have been suggesting that silver would outpace gold. A bull market typically reflects making highs on the benchmarks, but gold is weakening rather than breaking out to the upside. We clearly see something is brewing in May. It is hard to say what the fundamental will be because there are just so many. Biden's approach has been to impose this Build Back Better/Great Reset by tyrannical decree denying even the conservative Democrats the right to debate and vote on these drastic issues. Cutting off fossil fuels when we are staring at higher volatility in weather and the prospect of a severe drop back to very cold periods post-2032, is just following the agenda of Gate and Schwab while people have to understand that the United Nations is seeking to become the one-world government using climate change as the excuse. They argue that no single country can fix the climate so everyone needs to surrender sovereignty to the UN to save the planet.

The fundamentals are just too insane to accurately predict other than just opinion guessing. What we do show is early May will be interesting and in the metals, the benchmarks converge in mid-June. The last such convergence was in 2018. This is suggesting that 2021 may provide to be another important turn in the metals in general.

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