Oh my, oh May, oh me. What's happening with respect to Gold? Nothing.

To be sure, there have been some good earnings pops among the miners, but specific to the price of the yellow metal itself, the month of May thus far has been one big nothing. That said, the good news is — given our recent missives citing that May for Gold has been a month of malaise, demise and dismay –Gold's price hasn't flat out tanked.

Clearly, or perhaps better stated “murkily”,  it is a tug-of-war for Gold, but with very little movement in either direction, albeit its weekly parabolic trend did flip to Short a week ago. Yet elsewhere, there's plenty of something: Oil's been a-poppin', the Dollar Index for past three weeks has been rising, Mid-East tensions are as tight as they get, our best allies in the European Union are giving us the wry eye … and are the two Koreas, along with the u.s., really in that much of a loving ménage à trois? “Daaahlings, shall we rendezvous in exotic Singapore?”

Put it all together and through these first nine trading days of May, Gold presently sports an unnoticeable net gain of +0.2% (+2.3 points), settling out the week yesterday (Friday) at 1318. Indeed updating our chart of Gold's past Mays through today, 2018 doesn't even register as we see here, (the red axis being thicker than the current Gold bar):

In fact as we go to Gold's weekly bars, their aforementioned parabolic trend now being Short, the three rightmost weeks appear as a broken record. Gold's trading range in each of them has been: 21.8 points, 23.6 points, and 22.1 points respectively. And in all three cases price has settled near the center of each week's range. Remember the girl in the taupe miniskirt with the overnight bag in the bus station 

Goin' Nowhere”

? That's gotten a lot of airplay over the years here in The Gold Update: