It’s like the country is sleeping soundly in its convention while at the same time it is splitting its seams with growing anger and division. Inflation has created this mess.
On a closing basis, if this were the end of the week — which it's not — gold would be up 2.34%. There is no trend; you have a lower low and a higher high.
Auto manufacturers have been substituting platinum for palladium, but that trend could begin to reverse, with palladium now trading nearly $400 per ounce cheaper than platinum.
On a weekly chart of closes — not the highs and lows — the gold market can fall all the way back and challenge, at some point, this 18-week moving average of closes, which is sitting at $3197.
