Checking Up on That Bad Idea: Rebar Over Gold

About two weeks ago I posted: Bad Idea: Chinese Buying Steel Bars Instead of Gold. Rebar looked like a big topping pattern. It may be breaking down already.

In contrast, here's GLD (gold ETF) divided by CYB (a Chinese yuan ETF). The dip at channel bottom was right around the time this article came out. This ratio is up about 8.4 percent since that article came out.