Is gold a commodity?

Make no mistake about it. Gold is a commodity and peaked at the same time as all the other commodities (the CRB on the graph does not include gold) (click on graph to enlarge). As long as the business cycle heads down, commodities will remain weak.

Commodities will strengthen when the business cycle turns up and the economy grows at an above average pace.

Gold and crude oil and interest rates (the price of the commodity money) follow the trend of all other commodities, from metals to agriculturals.

More, much more when you read older posts and subscribe to The Peter Dag Portfolio by going to https://www.peterdag.com/.

George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977