EC Gold Stalls On Nothing

Upon there being nothing in your petrol tank, (or for you Tesla-types out there nothing in the form of ions in your anode), your vehicular conveyance stalls. As well this past week, Gold found itself fuel-less with nothing to give it go.

On the heels of the prior week's dovish nothing from the Federal Reserve Bank, so next came nothing from the Brexit-foggy Bank of England as well as nothing from the recession-wary European Central Bank. Given the Lunar New Year, our celebratory Asian friends came with nothing other than a hearty "gong hei fat choy" in wishing us a prosperous one for the Pig. Why even the week's dose of metrics for the Economic Barometer on balance amounted to nothing. And you know how the song goes: "Nothin' from nothin' leaves nothin'..."--(Billy Preston, '74)

Therefore Gold's week essentially stalled on nothing, settling Friday at 1318, off a wee 0.3% (-4 points). Further to really rub nothing in, per the above opening Gold Scoreboard price a year ago was precisely 1318.1 ... today 'tis 1318.2, a year-over-year gain of 10¢. That's quintessentially nothing. How much did you broker garner in commissions throughout? Certainly more than a dime, indeed well more than nothing.

Notwithstanding nothing as we turn toward Gold's weekly bars, we do therein find something: the current parabolic Long trend of 22 rising blue dots now exclusively ranks fourth in duration millennium-to-date. That said, it has been a relatively weak parabolic Long trend compared to the only three that have endured longer: the low-to-high percentage gain for the 26-week trend ending 16 December 2005 was 30.2%; for the 25-week trend ending 23 December 2004 'twas 18.6%; and for the 23-week trend ending 07 February 2003 'twas 25.8%; but for the present 22-week trend the low-to-high percentage gain thus far is just 12.4%.

1 2 3
View single page >> |

Disclaimer: If ever a website needed a Disclaimer, this is it. Indeed, your very presence at any page within this Domain which is www.deMeadville.com has already bound you in the ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.