Gold - 1600s Brushed!

Meanwhile the Federal Reserve -- the oft-overlooked role of which is to maintain a steady valuation of the Dollar (stop laughing) -- is looking to "keep prices well in check" even as Chairman Powell adamantly desires sticking to "easy money" all 'round.

And as for the Economic Barometer, its week was chock full of "better buts": February's Payrolls (Bureau of Labor Statistics) grew, but those per ADP fell; Hourly Earnings grew, but the Average Workweek fell; the Institute for Supply Management's Manufacturing Index grew, but its Services Index fell; whilst for January, Factory Orders grew, but so did the Trade Deficit, and Construction Spending increased, but Consumer Credit decreased. Dump it all into your Osterizer, press "purée", and voilà, here's the Baro along with the S&P (red line) commencing what we believe ought be a long overdue journey lower:

Lower of course remains Gold as to our proprietary technicals we go, the last three months-to-date of daily bars on the left and 10-day Market Profile on the right. Neither panel is pretty, Gold's baby blue dots of linear regression trend consistency declining ever more so, whilst in the Profile some supportive defense has been created 'round the denoted 1696 level:

As for Sister Silver (SLV), the like dual-panel drill finds her "Baby Blues" only barely below their 0% axis, albeit looking to accelerate lower into the new week; Silver's 26.13-to-24.04 support area (below left) is thoroughly being tested, with the key trading supporter per her Profile (below right) at 25.25:

To wrap it all for this week, we saw the Dow Newswires report that (according to the Congressional Budget Office) StateSide national debt is projected to be some 202% of Gross Domestic Product by 2051. Should we make it that far, we'll be nearly 100 and the price of Gold (by regression extrapolation) up beyond 5000. Which put us in mind of this graphic from away back in our 18 February 2012 missive:

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