Gold flies as FIN is in
This past Tuesday , Gold flew commensurate with affirmation of Finland having formally joined NATO. Indeed now that FIN is in, fast and furiously did Gold fly as is its wont upon implicitly negative geo-political alerts. Explicitly here, 'tis perceptively yet another step closer to enhanced expansion of military activity along the some 1,320km of Russo/Finnish frontier.
'Course, you long-time readers of the Gold Update well know that geo-political price spikes typically are short-lived. Gold faded come Thursday to as low as 2017 in settling out the week that day at 2024. And regardless of perhaps more price fade in the offing, Gold's broader picture looks as happy as a clam in turning to the weekly bars, their blue-dotted parabolic Long trend now four weeks in duration.
Buckling, too, of late is the Economic Barometer. For this past week's stream of 12 incoming metrics, eight were worse period-over-period, notably including March's Payrolls creation per both ADP and the Bureau of Labor Statistics , and the Institute for Supply Management's readings for both Manufacturing and Services. As well, February's Factory Orders shrank for the third month in the last four, whilst the month's Trade Deficit was the worst since last October.
We next yield to Gold's upward path per our two-panel graphic featuring price's daily bars from three months ago-to-date on the left, and the 10-day Market Profile on the right. In the latter, mind that 2039 apex at which 45,179 contracts traded in just these last three days...
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