It will be a very busy week as the new month and quarter begin. Already we've seen a strong rally in the Comex PMs get full reversed and shoved back to UNCH as today's economic data came in stringer than expected. Again, though, the week is just getting started.
As you know, Good Friday was a market holiday. However, all .gov offices were open ahead of the Transgender Day of Visibility...which, of course, is today. I hope you were able to attend your local secular/pagan transgender worship services.
Wow, it's hard to believe that 2024 is already 25% over. That's crazy! Where does the time go? But it is what is and, later today, we'll wrap up the week, month and quarter with a look at the charts.
And the day has begun like the others from earlier this week. A rally on physical gold...
The Apr24 Comex gold finally goes off the board today and into "delivery" this evening. While this doesn't mean that price will go straight up beginning tomorrow, at lease we'll finally be done with all of the expiration-related selling pressure.
An overnight rally drove Comex Digital Gold to $2200 overnight, marking the third occasion that price has crossed that barrier. Unfortunately, the Comex soon opened and CDG was driven backward, marking the third occasion that price was not allowed to remain there.
A new week begins. Not only is it the last week of the month, it's also the last week of the first quarter. What the heck?!? 25% of 2024 is already in the books? That's crazy!
So, not only is it the end of the quarter on Thursday....yes, Thursday, as US markets will be closed for Good...
It has been a long and volatile week and I can't blame you for wanting to call it quits, get outside or maybe watch some basketball so go ahead and do it. I'll stay here and keep an eye on things.
It shouldn't be much of a day, however. We made it through the 8:00 ET "Goon Hour" and it...
A dovish/bullish FOMC allowed for a new all-time high close in spot gold late yesterday. You'll recall a similar all-time high back on Friday, December 1. The trading since has been eerily reminiscent of the trading on December 3-4 so we must be alert to where things may trade from here in the...
The long-awaited March FOMC meeting concludes today with the usual Fedlines and Powell presser. Back in December, it was widely expected that this meeting would bring the first rate cut of a new cycle. Today? That first rate cut isn't pegged until June or July. So what can Jerry say that will...
