All Quiet On The Golden Front

For all things Trump-affective going on out there, from Trump Tariffs, Trump Kim, Trump Putin, Trump Thumbs Up with the Wall, Trump Thumbs Down with Taxes, to all things otherwise-affective across the geopolitical and economic spectrum -- the list for which is both accelerative and inexhaustible -- it is remarkable that it is all quiet on the Golden front.

And in a sense, with May having fully passed without price getting summarily sassed is a sigh of relief for Gold's investors and traders. To be sure, Gold's "expected daily trading range" has fallen to nearly half (11.9 points per day) from what it was (18.1 points per day) just back in late February. Obviously it's better to have range narrow and price consolidate than see the latter dissipate. Still, the ratio of "Gold's price movement to the world's goings-ons" seems quite small, the best bit being there is no real impetus to sell.

Neither -- at least not yet nor at large -- does there appear much motivation to buy. For with the turn of the calendar's month (plus one trading day) we find Gold's year-to-date net change again one big nothingburger. Rather as we go to our BEGOS Market Standings, the year net thus far is USA all the way with Oil, the Dollar and the S&P 500 leading the charge. And note therein that Silver's net change is smack at the midpoint between Gold and Copper: one day it's adorned in its precious metal pinstripes, the next in her industrial metal jacket. Talk about going nowhere: Silver's "expected daily trading range" is now down to a mere 23.2¢, a tightness not recorded in better than a year. And for 2018-to-date, the white metal has settled 82 of 105 trading days in the 16s. Here's the whole lot from hot Oil to cold Copper:

For the time being, we'll acquiesce to Gold's price consolidating vs. its plummeting: especially when by supply-adjusted debasement alone the yellow metal (which settled out this past week at 1298) "ought be" by our gold Scoreboard on the verge of surpassing the 2800 level for the first time. Still, in turning to Gold's weekly bars, we continue to see the "dual barrier" of The Whiny 1290's and The Box (1280-1260 as defined by the purple lines) acting in defense against the sellers, shorters, naysayers, crypto-creatures and other negative features:

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