No Surprise Tuesday

64
Tue, Nov 16, 2021 - 10:16am

In a not surprising development, Comex gold was slammed backward a full 1% this morning, just after Comex trading began. Why was this not surprising? Let's count the ways.

So, anyway, yes Dec21 Comex gold rallied overnight all the way up to that important $1870 level and, at that point, things looked rather promising. However, let's sum up a few of the things we've been warning about for the past few days before we go any further...

  1. Last Wednesday, we noted that any Goon mutterings about rate hikes could reverse price pretty quickly.
  2. Yesterday we warned
  3. ...

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Key Economic Events Week of 12/6

12/7 8:30 ET US Trade Deficit
12/7 8:30 ET Productivity
12/7 8:30 ET Unit Labor Costs
12/8 10:00 ET JOLTS job openings
12/10 8:30 ET CPI
12/10 10:00 ET UMich consumer sentiment
12/10 10:00 ET Five-year inflation expectation

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