Gold's January? Ordinary!

Now before all y'all get yer boxers in a bunch over "How can you say 'Ordinary' when the likes of Franco-Nevada gained 10.6% for January?", remember: here at The Gold Update we tell it like it is. To wit:

For the first 18 years of this third millennium, (which for you WestPalmBeachers down there was 2001 through 2018), the average change in the price of Gold for January was +3.0% and the median change was +3.4%. Split the difference and what do we get? +3.2%, which was precisely Gold's net change for January 2019. That's as dead-center ordinary as it gets. Indeed with 19 of 'em now in the books, here is the table of Gold's respective January performances in descending order from +11.0% in 2012 down through -6.2% in 2011, again the centerpiece as framed being this past January's +3.2%:

'Course, it has felt much more exciting than that given Gold's having found its way back above The Box (1240-1280), sufficiently so that we can now morph such oft inescapable 40-point swath from resistance into support. In fact, add to price six fat points of April contract premium and for just the second time in over a year Gold has posted back-to-back weekly gains of better than +1% toward settling out this most recent one yesterday (Friday) at 1322. And in turning to Gold's weekly bars, the current parabolic Long trend of 21 ascending blue dots ties for fourth in duration since 2001 (with that ending 12 June 2009). Of marginal note as well, the ensuing week's price that would flip the trend from Long to Short is actually just atop The Box at 1283. Now if we can just get that nasty dashed regression line to rotate upward, we'll have the whole package sailing higher:

What's really sailed higher to start the year is Black Gold as we turn to the 2019 BEGOS Market Standings for one month plus one trading day year-to-date. Oil is, as they say, "crushin' it", up nearly 21% followed by the S&P 500 up 8%; only the currencies are in the red:

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