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%.

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