Gold May Face Peak Inklings Akin to Crude in 2008 Gold's hangover from the parabolic rise to its roughly $5,600-an-ounce peak in 1Q may mirror crude oil's apex in 2008. The up-too-much factor can be a powerful force in autocorrelated commodities. My graphic highlights crude making lower highs and lows vs. its 60-month moving average following 2008's peak, which reached the greatest premium to this mean since 1973-74's OPEC oil shock. Gold's surge to about a 2.2x premium to its 60-month mean in February was last matched in 1980, but the velocity was unprecedented in a noninflationary environment. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tks6h8kgzaje {BI COMD} #gold #crudeoil #inflation @BBGIntelligence(Mike McGlone)