David Rosenberg offers us this thought provoking chart comparing the Gold rally with, well everything else.

The implication being, Gold has much further  to run:

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GOLD RALLY IN CONTEXT WITH PRIOR SECULAR BULL MARKETS
measuring trough-to-peak percent change

courtesy of Gluskin Sheff

Category: Gold & Precious Metals, Technical Analysis

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “Gold vs Other Secular Bull Markets”

  1. scrawny ain’t he?

    The yellow dog is acting like the runt of the litter

  2. investorinpa says:

    In breaking news, Al Gore & Tipper split! Looks like it is a bit of Global COOLING happening….Al Gore’s wife is kicking him to the curb! She prolly got tired of all of his hot air BS polluting the climate around her! Tipper probably said here’s an inconvenient truth…I’m tired of your hanging chad… or maybe Tipper kept leaving the lights on inside the house..or Al got tired of her “growing carbon footprint”

  3. constantnormal says:

    If this time around all the other asset categories have performed in a similar manner to their past (which I don’t believe we can say from the above chart), then this makes all those gold big … what is the word? Oh yeah, “losers”.

    The future, of course, is an unwritten (or at least unread) book. But if we are considering the performance of the yellow metal against a lot of other stuff since the point in time of the Great Inflection in March 2009, “Losers” would seem to be the appropriate term.

  4. ronin says:

    You’d be scrawny looking too if you had JPM and GS putting their boot on your neck for all their buddies at the Fed.

    If gold wasn’t such a disaster and shining light on the US Ponzi scheme you’d see that little reject trounce them all!!!

  5. constantnormal says:

    that’s “bugs”, not “big”. My computer has this feature where I am instantly able to see all my typos the moment that I click the “submit comment” button.

  6. thumbcharts says:

    This is certainly a comprehensive list of bull markets but the comparisons are inaccurate since the graphic is missing:

    1) Local currency inflation adjustment
    2) A time/duration component

    The inflation adjustment is of utmost importance, which is why it can be difficult to compare U.S. bull markets with with bull markets from Japan or Hong Kong. I prefer to stick with U.S. data since we have plenty of bull markets and bubbles to use as context.

    The following chart is designed to compare both the trough to peak % change as well as the duration of the bubbles using the headline CPI to adjust for inflation:

    http://www.thumbcharts.com/1300/gold-at-3000-only-if-bubbles-repeat

    This one uses standard deviation to compare the inflation-adjusted level (headline CPI again) of the four primary U.S. asset bubbles of the last 30+ years:

    http://www.thumbcharts.com/1311/asset-bubbles-since-1976

  7. Arequipa01 says:

    A good source of info on LATAM mining, and in particular, gold production, is:

    http://incakolanews.blogspot.com/

    The author is currently offering free access to his weekly, which has some interesting info on gold production in Peru and its recent downturn. Worth a click.

    Disclosure: I read the blog and appreciate the granular info it presents (case in point Eike Batista’s recent shares acquisition in Ventana Gold via his 63x master fund). The craythur is in the details… I receive no benefit from shilling for the guy, whom, truth be told, is from perfidious Albion! In fact, I owe him a lomo saltado and an indeterminate amount of Pilsen.

    As an aside, BVN is not broadly known in the US, but maybe of some interest to people who follow this sector. I would recommend a look…as far as other actions, you’re on your own.

  8. mjslpl says:

    Looks like gold has been in a bull market since 2005 at a minimum. 5 years * 365 = 1825 days. A little different than the chart

  9. Diamonic says:

    This comparison isn’t completely correct ’cause it should be adjusted to asset volatility.

  10. VennData says:

    Daft statistical nonsense of tail events.