Benzinga posted a very interesting comparison between gold prices and Apple Computer, as a measurement potential trend:
Gold investors have been waiting for this, The metal has been trending lower since August and after rebounding in April, it ran into resistance around $1,780. That put a halt on the rally…Now that resistance has been broken and a big move higher has been made….There’s a good chance it continues. With inflation here and a potential energy crisis on the horizon, a flight to safety has begun.
But the unexpected correlation: “One reason why the flight to safety has begun and gold is moving higher is the weakness in Apple Inc.” Apple has met resistance for months and the suggestion is that Apple, being so strong in earnings and organizational performance, yet underperforming as a security – could be a bearish signal overall.
Here is gold over the last year:
Of interest as well, the gold backed digital asset PAXG over the last three months: