Investing.com investing.com 27 Dec, 2020 08:15 am

PM Update: Our Hope From Santa Was In Vain; Gold $1900 Still To Gain

PM Update: Our Hope From Santa Was In Vain; Gold $1900 Still To Gain
Commodities Analysis by Mark Mead Baillie covering: XAU/USD, XAG/USD, S&P 500, SPDR S&P 500. Read Mark Mead Baillie's latest article on Investing.com

To be sure, in turning to the three months of daily bars for Gold on the left and for Silver on the right, the "Baby Blues" of linear regression trend consistency have been firmly on the rise, those for both metals now nearing their respective +80% axis in confirming the uptrend as intact.Again, having the weekly parabolic Short trend flip to Long in the year's final week ought well induce a further upside streak: p And as for the 10-day Market Profiles for Gold (below left) and Silver (below right), price at present for both metals is right 'round the past two weeks' most dominantly traded levels, those being 1886 for the yellow metal and 26.Santa may not have brought us Gold 1900+, but for the past two weeks price has teased that level, reaching on Monday up to 1912, the highest level since 09 November.) Nonetheless, hardly are Gold and the S&P in negative correlation with one another; rather per this view of their respective percentage tracks from a month ago-to-date (21 trading days), 'tis more of an encore performance of their classic pas de deux: Gold Vs S&P So as the S&P 500 climbs merrily along without any substantive earnings support, neither is the economy providing same, the Economic Barometer being bruised for the third consecutive week.

Thus for the Baro, all is not well, (and for the S&P, pray don't tell): Economic Barometer As for the Federal Reserve and govermental stimulus train, their debasing activities ought well be working for further Gold gain.Remaining is but another brief trading week ahead to close out the year, indeed to close out this—the second decade—of the 21st Century.

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