Gold On The Go And We Review 'The Crow'

For here's another promising view, the year-over-year graphic of Gold's price versus (in the upper panel) its smooth valuation line, and therefore Gold's price less valuation (in the lower panel). As you website followers know, the smooth valuation line suggests a level for Gold based on how its price is changing relative to the price changes of the other primary BEGOS Markets (Bond / Euro / Gold / Oil / S&P). The graphic puts Gold at 49 points below this method of valuation, i.e. price near-term is "too low". (Interesting how that matches the aforementioned 49 points "average" ensuing 10-days increase). 'Course by the opening Gold Scoreboard, price today at 1744 is 1978 points "too low" below its 3722 currency valuation level: but that is to where Gold need catch up over the ensuing years. Here is "the now":

Speaking of increasing, what's not of late is the Economic Barometer. Oh there were some positive metrics received during this past week, including an ample rise in March's New York State Empire Index and a better than doubling of that for the Philly Fed Index. But here's the but: the month's National Association of Home Builders Index slipped as did February's Housing Starts and Building Permits, and worse, that month's Retail Sales actually shrank (-3.0%) as did Industrial Production (-2.2%) along with Leading (or if you regularly follow the Econ Baro, lagging) Indicators hitting the brakes (decelerating from +0.5% to +0.2%). Bring it all together and the Baro suffered its largest week-over-week loss in the last half year (since that ending 18 September). Still, few really want to hear, see or talk about it, the Biden Vaccine more than mitigating all the negatives (at least per our views of the "news"):

And we had a wry chuckle over this one. As herein penned a week ago: "Scarier still: We know, and you know, that Federal Reserve Chairman Powell, his Fed Presidents and FOMC all know, the stock market is horribly due for a massive blow ... And the FedFolk cannot prevent it." No sooner had our ink dried there than Dow Jones Newswires declared: "Powell Can’t Let Markets See Him Sweat" with respect to our otherwise being told the "turbocharged economy" under the new Administration has returned to form; (clearly Chair Powell is eying the Econ Baro rather than the FinMedia).

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