“Good framing. When services stay strong and manufacturing stays weak, it keeps the soft-landing narrative alive even as jobs cool. Congrats on the gold breakout call, geopolitics plus real rates is a supportive mix. On US equities, I agree: AI is the dominant narrative and valuations are stretched, but without a catalyst dips get bought. CPI, PPI, and retail are the right tests.
Quick question: how does your SVC lens look on silver and copper here, and what would flip the view?
Hi Agisilaos, thank you for your feedback. The SVC-Framework is also indicating a strong conviction for further upside on silver and copper. I’ve been holding copper since July 31st and have sold a large portion of my silver longs. For the upside, I’m leaning more toward gold longs than silver, due to the gold-to-silver ratio and simply because I like gold ;)
Thanks David. Clear framework and I like the gold-over-silver expression given the ratio. I’m also a long-term gold investor and have recently added some copper exposure. I’ll keep tracking the same macro tests and the GSR.
“Good framing. When services stay strong and manufacturing stays weak, it keeps the soft-landing narrative alive even as jobs cool. Congrats on the gold breakout call, geopolitics plus real rates is a supportive mix. On US equities, I agree: AI is the dominant narrative and valuations are stretched, but without a catalyst dips get bought. CPI, PPI, and retail are the right tests.
Quick question: how does your SVC lens look on silver and copper here, and what would flip the view?
Hi Agisilaos, thank you for your feedback. The SVC-Framework is also indicating a strong conviction for further upside on silver and copper. I’ve been holding copper since July 31st and have sold a large portion of my silver longs. For the upside, I’m leaning more toward gold longs than silver, due to the gold-to-silver ratio and simply because I like gold ;)
Thanks David. Clear framework and I like the gold-over-silver expression given the ratio. I’m also a long-term gold investor and have recently added some copper exposure. I’ll keep tracking the same macro tests and the GSR.