27 May 2024 – 08:35 Central Euro Time

The two-day session for the BEGOS Markets is underway, (for Tuesday settlement given the StateSide holiday). The precious metals are getting the bid, both Gold and Silver at present above today’s Neutral Zones; the other six BEGOS components are within same, and volatility expectedly is quite light: only Silver has thus far traced in excess of 50% (55%) of its EDTR (see Market Ranges). The Gold Update acknowledges the most recent All-Time High (2454) as being at best “marginal” and cites what have become “habitual” moves lower typically following such post-COVID highs. The S&P 500 settled Friday as 13 days “textbook overbought”: the futs-adj’d “live” P/E is 39.7x. The Econ Baro anticipates just nine incoming metrics as the week unfolds, including on Friday the “Fed-favoured” PCE for April.