24 May 2024 – 08:28 Central Euro Time

The precious metals are getting a grip, both Gold and Silver at present above their respective Neutral Zones for today; the other six BEGOS Markets are within same, and session volatility is quite light ahead of the StateSide long weekend. In recent years, Gold after recording All-Time Highs has habitually, indeed materially, pulled back somewhat swiftly: more on that in tomorrow’s 758th consecutive Saturday edition of The Gold Update; too, the yellow metal finally has returned to its smooth valuation line (see Market Values) for the first time since 28 February. At Market Trends, the Spoo’s “Baby Blues” of trend consistency have (in real-time) kinked lower (but not so much as to yet penetrate their key +80% axis); still the S&P itself technically remains “textbook overbought” and is overwhelming expensive given its cap-weighted lack of earnings support. The Econ Baro concludes its quiet week with metrics including April’s Durable Orders.