Gold Taps Two Thousand

 

On the off chance that you missed yesterday's (Friday's) Prescient Commentary, here is its opening sentence: "Front month (Dec) Gold has topped 2000 for the 1st time ever, price at present 1993", Gold settling out the week at 1994, but not before having made another All-Time High at 2005. (GLD)

Gold's having tapped Two Thousand is price's most major milestone in history. 'Tis as well a major milestone for The Gold Update. Recall this brief commitment from our 200th Edition as penned a-way back on 14 September 2013:

"... after writing the 100th Edition in 2011, a month following Gold's having peaked at 1923, I gave some thought as to how long I'd keep producing these Saturday missives. I decided 'twould be until Gold reached a price of 2000 or until this 200th Edition, whichever came first. However: The warm, gracious and encouraging testimonials that so many of you have sent my way have only compelled me to now change that to whichever comes second. So: given that Gold will reach 2000 -- let's keep going. Allons-y!..."

Et voilà, now some seven years (and 359 missives) hence, Gold indeed has ~finally~ reached Two Thousand. We can now wipe our hands and say "Our job is done here."

However: Gold has not as yet actually settled out a week above Two Thousand; rather its having only temporarily tapped that milestone seems rather unofficial, non? Thus we shall stay the course ... and upon Gold finally finishing a week above Two Thousand, we shall then have a Big Announcement.

But enough about us. Moreover, let's get into this month-end edition with a tip of the cap to one Kit Jukes (from our old haunt at SocGen, albeit yours truly was long-gone from there prior to KJ's coming on board). Year-to-date, Gold has had a long overdue but nonetheless substantive up run be it measured by days, weeks and/or months. And as is typical, Gold has had very little leading mention in the FinMedia until having broken above 1800 just five weeks ago. Since then, every doggone radio analyst (at least to whom we've listened) has suddenly become a Gold expert in explaining "The Why": none of whom have nailed it, save for KJ, who in Thursday's wee hours (Pacific Time) via Bloomy radio pointed to the Federal Reserve Bank's having issued (in his two words) a "bumper crop" of money. Spot on perfect.

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