by Mark Mead Baillie
GoldSeek
Gold’s Highs … Gold just recorded its 16th All-Time Weekly High within the 44 trading weeks that have completed the first 10 months of this year. Price by Gold’s “continuous front-month contract” (at present that for December) tapped 2800 for the first time ever in reaching up to 2802 this past Wednesday.
‘Course — as has been our ongoing take of late — Gold whilst still long-term vastly undervalued per the above Scoreboard’s 3738 Dollar debasement level vs. Friday’s actual settle at 2746, price near-term remains overvalued per our following Market Value gauge. Such measure assesses Gold’s typical movement relative to that of the primary BEGOS Markets (Bond / Euro / Gold / Oil / S&P 500) which at present shows the yellow metal as +96 points “high” above its smooth valuation line to which inevitably price reverses: