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June 5, 2026

Gold: too much focus on the 200d, not enough on correlation to equity beta.

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We may need to see weak hands give up on a break of the 200d. The biggest catalyst for us will be seeing the correlation of the Metals disconnect from increasing connection to equity beta (we’re seeing whiffs of the that the past few days). Reminder: Metals correlation to equity beta has risen over the past 12mo from 0.25 > 0.35, and as high as 0.75. That level has backed off the past 10 days …

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All rights reserved. RBJR LLC 2026
  • Based In North Carolina
Disclaimer: This publication is for general informational and educational purposes only. It is not investment advice, does not take into account individual circumstances, and should not be relied upon for making investment decisions. The views expressed are solely those of the author and do not represent the views of any employer or affiliated institution.
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