Investing.com investing.com 10 Jan, 2021 06:30 am

The Gold Update: Gold Leaps—Then Cascades—To Start The New Decade

The Gold Update: Gold Leaps—Then Cascades—To Start The New Decade
Commodities Analysis by Mark Mead Baillie covering: XAU/USD, XAG/USD, S&P 500, Boeing Co. Read Mark Mead Baillie's latest article on Investing.com

" Meanwhile good old Gold—an actual tangible currency—priced today at 1850 is but 51% of its supply-adjusted, Dollar-debased value of 3625 as we update weekly in the above Gold Scoreboard.With time at a premium for us this weekend, let's swiftly move through our key graphics, beginning with Gold's weekly bars from one year ago-to-date.The rightmost fresh blue dot is there, but Gold's end-of-week fold makes for a rather inauspicious start to it all: Gold Weekly Bars And Parabolic Trends Then here across nearly ten years we've Gold's daily closes vis-a-vis its 300-day moving average.2% every three days), would've found Gold reaching our 2401 target on 04 February.

(Fortunately there remain 51 weeks in 2021 to achieve our Gold target of 2401).p Gold closed out the Second Decade of the 21st Century this past 31 December at the price of $1902, after which we penned our missive " Seeking Gold 2401 (+26%) in 2021 ".

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