True to form as described a week ago, Gold continues down into December, so much so that it briefly slipped below The Box (1280-1240) before eking out a net weekly gain of 8 points in settling yesterday (Friday) at 1258. Rounded to the nearest point, Gold also settled at 1258 on six other trading days this year, as well as on 29 January 2015 — and say it ain’t so — too on 18 June 2010. To which with a wry eye one might mockingly muse that were Gold not a tradeable entity, we’ve had seven years of nothing.

Or as an ardent Gold investing friend put it this past week: 

“It’s hard to keep writing about something that never changes.”

 But in a sense, that is the story. Among the actually rational Gold hype week-in and week-out to otherwise flatly write that price really isn’t materially moving might make the late, great Howard Cosell exclaim in his best brash Brooklyn accent: 

“Now you’re tellin’ it like it IS.“

 Indeed analogous to the present state of the National Football League, perhaps for Gold we ought cue the rendition by The Danderoo of “Turn out the lights, the party’s over…”

Of course, from the “Cooler Heads Prevail Dept.”, we’re quite cognizant that since Gold first achieved this 1258 level back in 2010, the StateSide money supply (M2) alone has increased 61% (from $8.61 trillion to today’s record high level of $13.82 trillion). Linearly applying that increase to Gold values its price at 2020, not to mention our present Scoreboard’s broader time and supply-based valuation of 2770. Still, from “The Market’s Never Wrong Dept.”, Gold is back to being box-bound as shown here in the weekly bars graphic, the red-dotted parabolic Short trend now eight weeks in duration:

To be sure, expected tax relief, a firming Dollar Index, and comparably strong economic data have been boding brilliantly for the stock market while wresting resiliency from Gold. The 21-trading day (one month) percentage tracks for Gold vs. the S&P 500 give us quite the mirrored view: