Gold Behaves Like An Upset Friend - It’ll Get Over It

Based on gold’s recent behavior, mood swings cannot be ruled out, but hormone levels are going to level off after the end of the market holidays.

Gold rallied visibly yesterday (May. 3) as the USD Index gave away some of Friday’s gains, sparking questions about whether this is actually bullish for gold. And rightfully so, after all, if a given market reacts to what it shouldn’t react to, it often tells us that the market wants to move in a certain direction. Let’s start with one of the questions I received:

Hi,

Thanks very much for your detailed reports. I just have a few observations and queries. On Friday we had the USD going up and Gold dropping a few dollars. Today we have again the USD continuing to go up, which is what you have been saying in your reports, but we also have Gold up $10. If you could help me understand why this is happening and how it fits into Gold going down as the USD goes up.

Thanks very much.

Let’s imagine that you’re about to go fishing with your friends, but you can’t ignore the fact that one of your friend’s behavior is odd, to say the least. While they’re usually fine with your selection of the fishing spot and the time you arrived, today they are annoyed by both. They don’t even like the road that your GPS system set for the drive, not to mention your driving skills. Whatever you say, it makes them complain. You might be tempted to think that this person is actually not that friendly at all and perhaps this friendship’s status has changed.

But… What actually happened was they were up all night as their heater broke, spilling water on the entire apartment, and since it was this friend that insisted on mounting it themselves, they didn’t want to brag about this result. They also didn’t have time to eat anything before they met with you this morning.

What is obvious based on the context might have been very misleading without it.

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