Gold bullion has not done what it did during the past month since 2008. The Midas metal GC00, +0.34% shows rapidly rising relative performance against the CRB Index as industrial commodities are crashing due to the coronavirus effect. Gold bullion is staying firm, close to a multiyear absolute high. This dynamic has caused bullion to register a relative all-time high compared with the CRB Index (see chart). What happened to gold bullion after it registered its previous all-time high relative to the CRB in 2008? It doubled in absolute terms to peak above $1,900 in 2011 (see chart). We have a similar environment at the ... (full story)