Gold
Investment Thesis
GLD confirmed a death cross and trades nearly 7% below its 200-day MA while the GLD/SPY ratio has broken below both its SMA50 and SMA200 — with equity breadth at 68% and a risk-on options market reinforcing the rotation of capital away from gold and toward equities.
Catalysts to Watch
GLD printed a confirmed death cross (50-day MA at $405 crossed below 200-day MA at $410), and the GLD/SPY relative strength ratio (currently 0.509) broke below both its SMA50 (0.549) and SMA200 (0.593), signaling a sustained structural shift away from gold toward equities — while equity market breadth surged to 68% above the 50-day MA, reinforcing the risk-on backdrop.
Why It May Work
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Timeline
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