Higher Gold From Here


This headline might also be phrased as "Hire Gold from Here" (i.e. put Gold to work for you) or perhaps editorially construed as being "in our opinion" per the word "Here" rather than being specifically from the price of Gold at 1726 where it settled yesterday Friday.

But regardless your permutation interpretation, Gold has run a corrective course, checked the salient boxes therein, and has thus passed muster to resume its upside luster.

In fact, this past Monday with price having traded down to 1673 -- practically the precise low of the 1789-1672 structural support zone -- as the year unfolds we may find that 1673 level to be Gold's 2021 low. Check them out:

  • Confirmed come 19 February, Gold's weekly parabolic trend flipped to Short (price then at 1783); thus price went down as we expected -- Check.
  • How far down ought be down? We cited the 1789-1672 structural support zone, which as just noted has now been essentially traced in full -- Check.
  • The technical trading community then kicked into gear, Gold from 1673 leaping $65/oz. (+3.9%) in just 60 trading hours (2 1/2 trading days) to 1738 -- Check.
  • Gold completed a full reversion to (with some undershoot too) its mean of the stalwart supportive 300-day moving average (today 1785 and rising) -- Check.
  • President Biden just signed $1.9 trillion worth of faux dough into the system, the StateSide legislature pulling together an additional $2 trillion "starter" bill to turn everyone green, (which shall be the case when they can't afford anything) -- Check.
  • Nine years ago almost to the day (26 March 2012) the U.S. Money Supply (by "M2") was half what 'tis today; Gold then was 1689 -- Check.
  • Got Gold? -- Check.

Now check out Gold's noted weekly bars from one year ago-to-date. The "flip-to-Long" level is 1915, which is 189 points above the present 1726 price: Gold's expected weekly trading range is now 72 points. Within that vacuum -- should Gold have just bottomed -- we might expect to see the parabolic red Short dots flip to blue Long dots in three weeks' time. That may seem a bit of a stretch, but as you know when Gold goes, it GOES.

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