by Mark Mead Baillie, Gold Seek:
Our having taken on more of a bullish bent these last few weeks, we ~finally~ can open with some pleasing news: Gold just recorded an up week.
“Well, it really wasn’t much of a big deal, mmb… ”
True enough, Squire. Yet thus far through the year’s 29 trading weeks, Gold just recorded only its fourth positive one in the last 14: 
“Happy days are here again…”
–-[Milton Ager & Jack (not Janet) Yellen, ’29].
TRUTH LIVES on at https://sgtreport.tv/
Indeed en route to settling this past week yesterday (Friday) at 4056, price rocketed higher from Monday into Wednesday, at one point up +3.7% to 4171. But we’ll gladly accept the week’s net gain — wee as ’twas (+0.8%) — after all the recent fits and starts — dare we say “derring-do” — that Gold’s been through.
Further, Gold (serendipitously or otherwise) has been fostering friendship with Fair Value.
“That’s ’cause you’ve been pointing it out a lot, mmb… ”
Squire, we appreciate the supportive comment. Either way, Fair Value remains our favoured — albeit the most particularly ponderous measure — for reasonable Gold valuation. To be sure, Fair Value shall be a bit of a laggard to the actual price of Gold upon the Federal Reserve having to bail out both the U.S. Treasury’s debt and to fund investment banking coffers (thus avoiding your receiving an I.O.U. instead of cash upon selling your stock) given the ratio of the S&P 500’s market capitalization/liquid money supply is now 2.8x (per the opening Scoreboard). In the offing then comes five-figure Gold, as previously we’ve herein foretold.
But again, the beauty of Fair Value (barring a deflationary depression and a sapping/reinvention of the money supply) is that it rises over the long haul. Yes, since President Nixon nixed the Gold Standard back on 15 August 1971, the price of Gold has typically trailed Fair Value, only to have dramatically caught up — and then some (understatement) — upon Gold last year having “morphed into a meme stock” as the trading herd changed the yellow metal’s status from “Relic” to “Must have it!”
All that said, we oft think of Gold as an attractive, very long-term buy when trading at or below Fair Value. Here from one year ago-to date are Gold’s daily bars and gradually rising Fair Value line. Note therein Fair Value’s rightmost “supportive” nature of late:
‘Course, from the “Double Negative Dept.”, Fair Value presently appearing “supportive” doesn’t preclude Gold not going down. The war is weary on Gold as the Dollar rises toward accommodating the transaction of Oil. Thus here we’ve the percentage tracks war-to-date of Gold, Oil (West Texas Intermediate) and the Dollar “Dixie” Index. The latter’s line lacks alacrity based on how ’tis priced by ICE (Intercontinental Exchange); but since the war’s commencement on 28 February, “Dixie” is up nearly +4%, which historically across any 101-trading day range (per this case) is fairly exceptional:
