by Pater Tenebrarum
No Correction Yet
Late last week the HUI Index broke out to new highs for the move, and so did the XAU (albeit barely, so it did not really confirm the HUI’s breakout as of Friday). Given that gold itself has not yet broken out to a new high for the move, it would normally be expected to do so, as Jordan Roy-Byrne argues here.
[…] The chart below shows the situation as of Friday (HUI, HUI-gold ratio and gold):