For the first time since late August of 2018 palladium futures pricing has broken below its 50-day moving average. Palladium’s historical rise began on August 14th, 2018 after pricing bottomed to $815 per troy ounce.

Considering that since the beginning of March when gold futures were trading at a low $1280 per ounce, gold has gained some real distance in value during the month.

On Friday’s report I spoke about the fact that the major central banks have been quietly accumulating and adding to their gold reserves.