Gold Twice Yanked Twice Tanked

Nothing like living the prior week all over again, eh?

First it was the lousy StateSide September payrolls number as we nauseatingly documented a week ago. Thus as you already know, that report rightly yanked Gold up some +20 points in less than an hour... only to then see price tank from whence it came during the following hour.

Second this past Wednesday into Thursday came the cavalcade of wholesale inflation worries, Dollar weakness, mixed musings of FOMC minutes, and Gold trading volume exaggeratively reported as "massive" (but not really), that all double-yanked Gold up some +40 points during said two-day stint ... only to then see it tank from whence it came during Friday. Two yanks, two tanks, and the dust settled yesterday with Gold at 1768, essentially where it all started two weeks ago.

Be it influenced by the M word or otherwise -- given the market is never wrong -- here is the trade of Gold across the past two weeks. And NO its does NOT look NORMAL:

To be sure, this Gold yank n' tank is (in our most eloquent use of the vernacular) a pain in the ass. And yet, there goes the abstract shiny object bits**t back over $60,000/crap, which the "Here Today Gone Tomorrow Dept." has yet to zap.

But hang on a sec: "Miss Gibbs? Any word on when those blockchain-bustin' quantum computers are going to be available? What's that? Not in the stores in time for the holidays? OK, thank you Miss Gibbs." (She's a winner). Well then, it looks like we'll still have to wait a while. "Hey Honey! I lost our bit key!" That'll be quite the day, eh? Add to that for the market and the economy FedGov Lael "The Brain" Brainard's inferred "Climate Change Crash", and on a wing and a prayer Gold "can" swiftly ascend to at least the present Scoreboard's valuation of $3,958/oz. ... and beyond! But "shall" it?

Let's be honest and hopefully not be holding our breath: 'tis indeed a most challenging time for the Gold analyst, price today where 'twas a decade ago, whilst the impetii -- notably the 3Ds of Debasement / Debt / Derivatives -- grow geometrically high favoring a Gold (GLD) run to the sky. So when the heck is it gonna get going?

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