Gold is up 6 percent so far year-to-date, Silver is up better than 7 percent. Gold stocks (Market Vectors Gold Miners ETF (GDX)) are up 12 percent so far this year. That means that gold stocks are by far the top performing sector in sector. They were also the best performing sector in 2016. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV))
Jan 17, 2017
If you take a look at some of the other currencies, the Canadian Dollar (CAD) is up 2.50 percent so far in 2017. The Australian Dollar (AUD) is up 4 percent so far in 2017. These are some pretty big moves early in the year.
Remember, everybody was bullish on the U.S. Dollar. That was the trade. It was so crowded, everybody was in it. Every strategist that I saw on financial news at the end of last year, early this year, said something like, "I am long the Dollar, short Canadian or short the Aussie, or short the Japanese Yen..."
Meanwhile all these currencies are going up and I think they will go a lot higher.
at 4:15 AM
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