You're sitting here up 1.29% for the week — that's not bad action at all. The swing line is sort of confirming that, having the higher lows and higher highs.
You can see how the gold has been coming back up, where the market came out and closed in the top quadrant of each day. It's carrying the market with higher lows, higher highs.
Gold served its purpose as an inflation hedge as investors piled into the metal after reports surfaced that Trump may fire Fed Chair Jerome Powell to force interest rate cuts.
It looks like all of wave $v$ of *iii* ended at the 3167.70 high, wave *iv* at the 2956.90 low and wave *v*, at the 3500.30 high, to complete all of wave -iii-.
Gold would be the “money” anchor of this new macro, along with, to a lesser degree, silver, which makes up for its less “moneyness” with much more widely used industrial utility than gold.
With present price (3356) now -93 points below the Short-to-Long price (3449), an ensuing firm week for Gold can flip the trend en route toward another All-Time High, (which presently remains 3510 from back on 22 April). “Get Gold!”
