Let’s admit it right off the top: did not reach our anticipated near-term target of at least 1800.
“Well the week’s intra-day high of 1790 was pretty close, mmb…”
Very sporting of you there, Squire. However: we’ve been leaping and pom-pomming about now for better than a month toward Gold returning to 1800 and it hasn’t happened, even with the Triple Top setup for a pop per our prior missive. And arguably your noting 1790 having just traded, one might opt that ’tis a quadruple top.
But at the end of the day (in this case the week), Gold per yesterday’s (Friday’s) settle at 1769 reflects price having lost some of its shine.
Moreover, a bevy of Gold technicals have just turned negative, although we just cannot conceive in any fundamental way too much of a material price decline.
Worse, the “in thing” this Spring is some compelling urge amongst analysts et alia to compare Gold with bits***t as a store of value!...read more...