23 April 2024 – 08:15 Central Euro Time

All three elements of the BEGOS Markets’ Metals Triumvirate are at present below today’s Neutral Zones; the other components are within same, and volatility is light-to-moderate. On the heels of the current Gold Update’s near-term negative stance, Gold yesterday suffered its third-worst intraday high-to-low loss (-2.7%) since February a year ago; (’twas Silver’s fourth-worst [-5.7%] across the same 14-month stint). We expect to see lower near-term levels still for both precious metals as (in real-time) their respective “Baby Blues” are crossing below their key +80% axes (see Market Trends). Gold vis-à-vis its smooth Market Values line has essentially halved the recent +200-point gap, but still (in real-time) price is +99 points above valuation. The Econ Baro awaits March’s New Home Sales.