evening wrap, may 6

market vibes

If a thing is worth doing, it is worth doing slowly... very slowly. Gypsy Rose Lee

Gold rallied $100 on the highest non-roll volume in several weeks on Tuesday, and remains well maintained on the highs in the post-pit session. As of the close tonight, June gold is less than a single ATR (average true range = $99) from an ATH.

Late news: Bessent to meet with China this week, gold down $11 (chart hourly data) on the news as I write.

Yen weaked as much as 3% on the Besent meeting with China.

Continuing the wrap with FX in daily data prior to the news of a meeting with China, a deeper look at the rally in oil today and the furure in a few weeks. Followed by stocks and bitcoin and the vibe…