Gold traded lower on Friday, moving towards a third straight week of losses on the heels of a recovering, better then expected, US economy. This caused investors to put their money in other “risk-on” assets like equities,etc. ES average trade size has drifted notably lower and was its lowest in nearly a week today suggesting a decrease in institutional buying. Can this indicate that we are close to a near-term “top?” Also, investors will keep a close eye on the steepness of the VIX Yield Curve and not so much the deceiving, low, front month prices. Industrial Production Misses and capacity utilization declines for the first time since early April.Industrial production was unchanged in February after having risen 0.4 percent in January.
