EC We'll Soon Behold 1800 Gold


With respect to this week's title, in each of the prior three missives we've anticipatively penned:

  • March 20: "So clearly we see Gold as on the go through here: 1800 seems quite reasonable as an initial goal, however the 1800s in general could well be fraught with much to and fro."
  • March 27: "...we expect Gold to now be on the rise, even with 1800 as a reasonably near-term prize."
  • April 3: "This remarkable week of resiliency for Gold really fuels our recent reckoning that price is setting a near-term course for 1800."

So how come we're not there yet? "Patience, my friend, patience!" --[Sherlock Holmes, 'A Study in Scarlet', ACD, 1887]

"But you've suggested 'the when', as near-term..."

Duly noted is your diplomatic use of the word "suggested". Typically when we talk "near-term" we're thinking out about a month's time. However should we behold 1800 Gold even by mid-year, no one is going to say boo about it: rather, they'll gladly take it.

Moreover in settling this past week on Friday at 1744, price traded en route to as high as 1759, a mere 41 points below 1800. Further, given Gold's "expected weekly trading range" is now 61 points, 1800 is well within that range. Thus briefly here are Gold's weekly bars from a year ago-to-date, wherein a wee bit of sheer magnetism may be all that price needs: 

Now let's expound upon a driving Gold positive: this next bit is important. Anyone who understands the Gold story already knows that price is significantly undervalued (our opening Scoreboard valuation now reading as 3759, which is more than double the present 1744 level). That 3759 valuation is being aided and abetted by an unconscionable creation of faux dough having increased the U.S. money supply ("M2") at an annualized rate within the last year of over 25%. Worse, the essentially infinite universe of the 3Ds -- Debasement, Debt and Derivatives -- is such that if we all simultaneously tried to convert our so-called "assets" into cash, 99% of us would receive nothing, i.e. zero ("0").

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