February 8, 2022 - (Gold Market Wire) - In our last missive we got prepared to short on the failure of the trend line...and then it held. We didn't get the close below, so we held fire. That turned out to be a good thing, because we then promptly got a bounce. The market turned away from the sell-off nd moved up. After it moved up, yesterday, it has started to sell off. Net Outcome? "Same Old Story".

In a market like this - for those glued to the screen - small moves can appear like a big deal. But they aren't. We made it all the way to $1823 before we started back down again. As ever, only those who are short volatility are making money.

There's not a lot of play in the market, and certainly not here - mid-stream. On the assumption that we will be hemmed in here for a while...it has been almost six months now... we're going to have to exercise patience and wait to see one of the parameters reached. In the big picture we still see a market that is running out of momentum. If we are going to move higher, eventually, we will probably need a sizeable sell-off to garner the energy to make that move.

We are much more inclined to sell rallies than buy pull-backs.

...and that's about it for the snooze-fest call the Gold Market.