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CONVEXWORLD signal update 30th June, 2017
30th June, 2017
Almost one year and a half has passed since GOLD ON signal was trigged on December 31, 2015.
June 2017 was a difficult month for GOLD (-2,15%) and closed around 1241$; since the beginning of the year its gain is +8,20%.
Even if the dollar (DXY) was weak (-1,34%), GOLD was even weaker. In this case decorrelation between them was not working.
The undeperformance of GOLD was entirely due to rising real rates: Treasury 10 years tips rose to 0,56%, a level which is near the top of the last 5 years.
The good news are the COT numbers which indicate that commercials are at one of the lowest level in its history, not interested in shorting GOLD.
CONVEXWORLD model is still GOLD ON, so this is just a long ACCUMULATION in a bull GOLD market that started last year.
Since 31st December 2015, when last GOLD ON signal was triggered, the model is up +17%, which is not bad at all!
Maybe, there is still a long way to go and have fun!
CONVEXWORLD tries to make a sense of financial markets!
PS. Please read carefully our Disclaimer
On 30th June, 2017 CONVEXWORLD model confirmed the signal GOLD ON.
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