On the heels of continued wild trading in global markets, you won’t believe what is happening in the gold market, plus historic, jaw-dropping moves that will take your breath away.
Gold Miners Are Top Performers
August 9 (King World News) – Jeroen Blokland:  “If you think gold is having a good year, check out gold miners, up 41% YTD. (See below).
Gold Miners Are On A Roll – Up 41% Year-To-Date!
What Is Happening?
Jeff Snider at Alhambra Partners:  “More important than “currency wars”, file this one away in the something-big-changed-recently drawer. (See below).
SOMETHING BIG HAS CHANGED: This Is More Important Than Currency Wars
We Haven’t Seen This Since The Great Recession
Jeff Snider at Alhambra Partners:  “Wholesale sales are now falling as wholesale inventories continue to rise pretty sharply (+7% YY last 3 months). The difference means that inventory has piled up to a level not seen since the depths of the Great “Recession.” (See below).
Massive Buildup Of Inventories – We Haven’t Seen This Since The Great Recession
Could The Surge In Miners Accelerate?
Graddhy out of Sweden:  “We are closing in on completing my expected symmetry move (small grey box). Once at the neckline we should get a pullback into an ICL. The enormous coming thin zone could make it go up even faster than my large grey boxes says. These are historical moves, do not miss it. (See below).
These Are Historic Moves In Gold & Silver Mining Stocks
You Know It’s Bad When…
D. Schrottenbaum:  “You know the economy‘s trend is south when mining is the only bright spot in the average weekly hours section of the jobs report…(See below).
You Know It’s Bad When Miners Are #1
India Joins The Party
D. Schrottenbaum, Chief Investment Officer at Austrian private bank:  “…India joins New Zealand and Thailand in aggressive „surprise rate cuts“ within 24 hours (see below).
The Real Reason Global Bond Markets Are Plunging
Robin Brooks, Chief Economist at IIF:  “Many link the drop in gov’t bond yields to medium- and long-term fundamentals like population aging & resulting saving glut. These things can explain gradual, long-term moves, but not the sudden drops we’ve seen recently. Those are due to trade tensions and global growth fears. (See below).
Read Above For The Real Reason Global Bond Markets Are Plunging
Financial Crisis Coal Mine
Stephanie Pomboy at Macro Mavens:  “At the risk of piling-on, the canary in the financial crisis coal mine has been singing loudly. The relationship between the metallic barometer of financial insecurity (gold) and the metallic barometer of economic activity (copper) has been a reliable predictor of trouble in the past. (See below).
GOLD: The Canary In The Financial Crisis Coal Mine Has Been Singing Loudly
We’ve Only Seen This 3 Other Times
Stephanie Pomboy at Macro Mavens:  “What a difference 10 days make! 10 year down 48 basis points(!!) or 22%. We’ve only seen this 3x other than fin’l crisis- first (perversely) on the US credit downgrade in 2011. Then on energy bust in 2014 and finally amid economic slowdown that was arrested by election (& anticipation of tax cut) in 2016. (See below).
REMARKABLE: US Treasury Yields Collapse 22% In Just 10 Days!
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