In settling out the week yesterday at 1650, Gold recorded its lowest weekly close of the past four. And within the guise of the ongoing weekly parabolic Short trend , let's recall what herein was penned four weeks ago upon it all starting back then:That's just some 50 points further down from here, which given that Gold's EWTR is now 58 points means the sub-1600s can be reasonably reached with in a week or two. And no, we're not Short Gold.
Regardless of such colliding technicals , the Gold Story remains pretty much the same: lack of ownership interest plus the purported paper price suppression continue to keep the precious metals under wraps. But wait, there's more: You might recall this from mid-May when the S&P was over 4000: "...we see no sense fundamentally to be in the stock market..." --[deMeadville Prescient Commentary, Tue, 17 May].And what "this means" is that should there be no year-over-year S&P earnings growth, price at the mean is 2522, .
For the week just past, of the 11 incoming Baro metrics, nine were net positive , of which six were direct period-over-period improvements. And as we've pointed out over the years, inflation tends to work as an Econ Baro positive as it reflects demand for goods and services: ya just gotta pay more for 'em. This even as Chicago FedPrez Charles"Ever Upwards" Evans says the Federal Reserve need keep raising rates.
Why are they keeping this a secret
Why is nooboody talking about this