As the S&P makes its way to and past 2000, we had a retreat in the gold market today.
Whatever the reason one wants to pin on the decline today, one things for sure. If Janet Yellen mentions that inflation is tame (which they always do), the gold would have been down today on the anticipation that inflation would be tame tomorrow. Of course, that’s tongue and cheek, but mainly accurate nonetheless.
We remain in the dog days of summer, leading right into the Labor Day holiday weekend. Volume will remain light. News flow will remain scarce and the will to send the market heavy in one direction or the other just doesn’t exist right now.
The remainder of my thoughts can be found in today’s video, enjoy.