Gold Great? Or Sedate?

Then too on the FedSide, there are musings of slowing their stimuli as the past week's FedSpeak found both Vice Chair Richard "Clearly" Clarida and Dallas FedPres Robert "Cap it" Kaplan leaning toward asset purchase reductions. The point is: if "it" isn't really as plentiful as thought, and moreover "it" via the Fed isn't being as sought, just make sure 'tis Gold that you've bought.

'Course if you'd bought Gold at this time a year ago, you're ahead of the game. Here is its percentage track from then-to-now along with those of these key metals equities, their performances being: Franco-Nevada (FNV) +6%, Gold itself +9%, Agnico Eagle Mines (AEM) +12%, both Pan American Silver (PAAS) and the VanEck Vectors Gold Miners exchange-traded fund (GDX) +15%, Newmont (NEM) +26%, and the Global X Silver Miners exchange-traded fund (SIL) +35%:

Next let's assess the "Rising Tide of Inflation Lifts All Boats Dept." In going 'round the horn for all eight components of the BEGOS Markets across their past 21 trading days (one month) we find every diagonal trendline as positive, albeit barely so for the Bond and Copper, (their baby blue dots of trend consistency being anything but). But which market shows the best trend consistency? Gold, (which for you "r-squared" fans out there at present reads as 0.94: that's pretty close to perfection). 'Course for the contrarian, such shan't last, and combined with Gold trading at the big round number of 1900 may be cause for some shoving about through here:

Now to our 10-day Market Profiles for Gold on the left and for Silver on the right. As denoted, the key trading support area for Gold near-term is the 1870's whilst same for Sister Silver is the upper 27s (SLV):

So it being month-end means 'tis time once again for Gold's broad structure graphic by the month from some 10 years ago-to-date. Several more "candles" like the rightmost one for May and our upper right 2401 forecast can come into play:

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