06 January 2023 – 09:23 Central Euro Time

Gold and Silver are the two BEGOS Markets at present above today’s Neutral Zones; the balance of the bunch are within same, and volatility is again light-to-moderate. The leading aspect of the S&P’s MoneyFlow remains weak across all three of our timeframes, the weekly read suggesting 72 points lower, the monthly 235 points lower and the quarterly 481 points lower: recall during 2022 that the Index did not reach all the way down to the base of its 3600-3200 support zone, which we anticipate to be in the offing this year, if not lower still should the P/E revert to its mean (as graphically depicted in last Saturday’s edition of The Gold Update). Six metrics hit the Econ Baro to complete its first week of 2023 including December’s Payrolls data and ISM(Svc) Index, plus November’s Factory Orders.