Below is a brief excerpt transcribed from Thursday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough.

McCullough: Why Gold Continues to Make Higher Highs - Gold cartoon 07.23.2014

Gold finally lost that 31 handle on Gold volatility (GVX) if you were watching that intra-day yesterday.

This provides the runway for gold to make its fourth set of higher highs from the low end of where we got it.

For a lot of you who are new to our process,  we’ve been buying gold since 1200 back in October of 2018. That’s when the peak of the U.S. Economic Cycle was in. Now you know that historical fact. That’s when you should have started buying Treasuries, buying Gold, and buying Utilities.

There are four specific ramps in Gold going to new highs, and you could have risk managed them the whole way.

Now some people who are new to this, and some people who don’t do what I tell them to do, end up getting stuck buying the top end of the range which is nonsensical.

Then they turn to me and say “Keith I’m not getting the low end of the range!”

Well that’s really not my problem. Unfortunately you weren’t following us back in 2018.

This has been a core position and it’s all systems go.

McCullough: Why Gold Continues to Make Higher Highs - 4 9 2020 10 36 08 AM