R-Star Vs. Real 10 Year Bond Yield

The R-Star from the New York Fed gives a measure of the natural real interest rate.

For example: On May 2023, the R-Star was 1.14% while the real 10 year bond yield was -1.5%. This means that the 10 year bond yield should rise further OR the CPI inflation rate should come down.

 

Michael Pento Secret 20 Point Inflation-Deflation Model

Michael Pento shares his secret model. 

In Gold We Trust Report

In Gold We Trust Report 2023: https://ingoldwetrust.report/wp-content/uploads/2023/05/In-Gold-We-Trust-report-2023-english.pdf 

Bank CDS Spread Vs. Gold

When banks fail, gold soars.

 

OPEC oil cuts Vs. Gold

OPEC oil cuts are good for gold. 

DUBAI, April 2, 2023 (Reuters) - Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million

OPEC+ to cut oil production by 2 million barrels per day to shore up prices, defying U.S. pressure. PUBLISHED WED, OCT 5 2022

OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers PUBLISHED WED, NOV 30 2016

OPEC+ reaches deal to cut oil production by 9.7 million barrels per day Updated 10:01 AM EDT, Mon April 13, 2020

OPEC will cut another 1 million bpd in July 2023.

Sprott Holdings Update

Sprott Holdings update:

Buys: Triple Flag Precious Metals, Equinox Gold.

Sells: Maverix Metals, Sibanye, Mag Silver, SSR Mining.

 

Gold as a percentage of international reserves

Gold has a long way to go.

Oil supply and demand

Oil should be moving higher. 

Update:

Update:

Gas rig counts Vs. Gas production

Gas rig counts are correlated to gas production.

Gold Miner Valuations

Comparison of gold miners Vs. Soma Gold. 

Near Term Forward Spread Vs. GDP

 The near term forward spread is a predictor of a recession.

Also works with gold.

Oil rig counts dropping

 Oil production will start dropping.

But this will happen around 500 rig counts. When oil production starts to drop, oil will bottom out.

Gold vs copper cost

Gold should head higher.

Copper grades are declining

Lower copper grades means higher copper prices. 

However, mining costs are manageable.