US Thanksgiving week, 11 metrics come due for the Econ Baro, including 10 packed into Monday through Wednesday, the PCE data surely to get the lion’s share of interest.
In a real bull phase (e.g. 2018-2020) gold sentiment can get very overdone, reset, and then resume bulling after the MOMOs, FOMOs and various and sundry other cling-ons have been shaken out.
We are for the week up, 4% percent. So that is impressive. You still have the pattern of lower highs and lower lows. The market rallied to the 18-day average.
The market has held that challenge on a weekly basis of hitting the 18-week average zone of $2585. For the week, you're up 3.19%—that's a good gain at this point.
The Silver Institute noted that record industrial demand and a recovery in jewelry and silverware will lift demand to 1.21 billion ounces in 2024, while mine supply will rise by just 1%.
