Gold torn twice, refueled twice

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Surely this Gold-Yank n ‘Tank (in our most eloquent use of the local language) is a pain in the ass. And yet the abstract, shiny object goes back over $ 60,000 / crap that the Here Today Gone Tomorrow Dept has. still have to zap.

But wait a second: “Miss Gibbs? Any word on when these blockchain-destroying quantum computers will be available? What is it? Not in stores in time for the holidays? OK thank you Miss Gibbs. ”(She is a winner). Then we’ll have to wait a while. “Hey honey! I’ve lost our bit key!” It’s going to be a whole day, isn’t it? Add to this for the market and the economy FedGov Lael “The Brain” Brainard’s derivative “Climate Change Crash”, and with a wing and a prayer “can “Gold will quickly rise to at least the current scoreboard’s valuation of $ 3,958 / oz. … and beyond! But” should “it?

Let’s be honest and hopefully not hold our breath: “It is indeed an extremely challenging time for gold analysts, the price today where it was a decade ago, while the momentum – especially the 3”D.s of D.humiliation / D.ebt / D.erivatives – grow geometrically tall and favor a gold run into the sky. So when the hell is it going to start?

Reprise: The market is never wrong. But it can be terribly mispriced. Just as gold today (1768) is only valued at 45% of its proper dollar value (3958), the S&P 500 is now (4471) at 254% of its 64-year median price-earnings ratio (20.4.) . x or 1763). What WestPalmBeacher means for you down there to achieve an acceptable rating, the record saga continues: Gold has to be doubled and the S&P has to be halved.

“But the income looks really great, mmb …”

Also, Squire: Q3 profits should be comparatively “great” compared to a year ago when so much of the world was closed. And clearly the banks came through with BIG revenue over the past week. With 24 of the S&P 500 members reporting so far, 83% have improved their bottom line: “Party Time!” (Ie, “We don’t need a smelly crash season…”). Maybe not yet.

And then there is gold (stop snoring), which has just finished its 16th week of parabolic short trend, a tie for sixth place since 2001. 1768 today, the average weekly close in it is 1787. That’s a about as humble endless short trend as we’ll find. And to quote our wonderful futures mentor (a PFH) from three decades ago: “Well, if it can’t go down, it will go up.” No time like the present, eh? Here are gold’s weekly bars and parabolic trends since that time a year ago:

By and large, gold has basically retreated since hitting its all-time high at 2089 on August 7, 2020. So if you look at this view of daytime closing times for the past 11 years, the recent technical streak obviously doesn’t show the fundamentals that we are turning all thumbs for a dramatic price premium:


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