REAL PRICE OF TSX Real Estate & Gold Indexes
Nominal Prices divided by Bank of Canada $CAD Commodity Index

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The chart above shows the "real" price of the TSX real estate index (RE/CCI green dotted plot line) and the "real" price of the TSX gold index (Gold/CCI yellow dotted plot line).​​
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In December 2018, the CAD$ Commodities Index (CCI blue solid plot line) ticked up after bids in crude oil reversed the seasonal energy selloff. The nominal price of gold is elevating its real price as the dropping nominal TSX Real Estate Index puts pressure on its "real " index plot.
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​The real price of the TSX Real Estate Index (green dotted plot line) spiked in June 2017 but the test of last month is breaking down and the plot is dropping after putting in a lower high. This "real" real estate index plot metric produced a veritable head and shoulders in the heat of the 2014-2017 FOMO frenzy but it now looks completely detached from its long term trend. 

The summer of 2016 rally in the real and nominal prices of gold was followed by a plunge into 1Q 2017 and the plots continue to work on a new base level support. War and the rumours of war as well as headlines out of the Middle East, Russia, Europe, China, North Korea, energy producers, the Fed (interest rates) and the Trump administration produced a slippery wall of worry in 4Q 2017.​​ Anxiety is growing and an apparent renewal of interest in the gold sector.   
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​In the 1929 stock market crash, Homestake Mining, the representative gold miner of the day, outperformed the DJIA. 
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This ​Gold Miners/Commodities RATIO link is ​a live chart of the $HUI:$CRB ​ratio.
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​Gold miner's profitability depends on the nominal price of gold but also the cost of getting the metal out of the ground. 

When the cost (fuel, and industrial materials) goes down, the real price rises even in the absence of a nominal price rise. Gold mining share prices rise as the real price of gold rises.
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