03 October 2023 – 09:02 Central Euro Time

The gutting of Gold (1839) continues, the Dollar Index approaching its 107 handle, a level not seen since November 2021. However, Gold by Market Values is (in real-time) -115 points below its smooth valuation line, a fairly historical extreme: such prior deviation (per 01 July 2021) then found Gold move up by better than +200 points into the start of the 2022 RUS/UKR conflict, even as the Dollar strengthened across the same stint; (more on that in next Saturday’s edition of The Gold Update). At present, Gold is below today’s Neutral Zone, as are the Swiss Franc and Copper; none of the other BEGOS Markets are above same, and volatility is again moderate. At Market Trends, Oil’s “Baby Blues” are (in real-time) accelerating their drop: with the two recent daily lows in the 88s having been breached, the next structural low is 85.49. The Econ Baro is quiet today ahead of 10 metrics due tomorrow through Friday. And Q3 Earnings Season begins this morning.