The big smash in gold on Friday was instructive. It has had zero follow-through here this week on either Monday or Tuesday, and this is atypical (to say the least. The usual thing would be for sustained follow-through for much of the week to the downside finally settling out at some punishingly lower number.
The point of all these interventions? Send the right signals to the little people that ‘all is well’ and ‘you can trust the dollar and dollar-based financial assets!’
Something has shifted…I’m still not sure what.
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