The Vault

Every issue, in order.

The full run of Gold Flow. Free readers get the read on each; the levels and the plan are for members. Start with the two below.

Free · the proof

Receipts

Every signal we published, graded against what the tape did. Wins and misses.

See the receipts →

Free · the manual

How to Read Gold Flow

Every term we use, in plain English. Read it once and every issue reads faster.

Open the glossary →

All issues · newest first

Aug 6

ISSUE #25

FLAT INTO PAYROLLS · 2/5

Tuesday put 870 contracts at a price gold had never traded. Gold ran 120 points the other way, failed twice at 4,325, and came back. Now three separate measures all land on 4,200, and payrolls hits on expiry day.

Flat

Aug 2

ISSUE #24

FADE 4,100 · LOW CONVICTION

The 10-year broke to a fresh high Friday and gold lost 4,100. The dollar had its worst week of the cycle, the curve steepened, Japan intervened. Three of those favour gold. It fell anyway.

Fade

Jul 29

ISSUE #23

NO LEAN · ONE PRINT DECIDES

Gold rose 27 points with the 10-year yield after a hold with three hawkish dissents, the first three-way split since 2016. Tomorrow's real-yield print decides if the credibility bid is real.

No lean

Jul 28

ISSUE #22

BOX INTACT · FOMC GATED 13:45

Every macro input turned gold-friendly Tuesday and gold closed flat anyway. The book is positioned for Thursday and Friday, not the Fed, with Warsh's testimony deciding which way September breaks.

Box

Jul 27

ISSUE #21

BOX HOLDS · 4,050–4,100

Oil crashed 8.68% and September hike odds didn't move an inch. Gold gapped +49, closed +6.2, giving back 87% of the pop to real yields grinding toward a fresh cycle high.

Box

Jul 22

ISSUE #20

STANDOFF · 4,100 DECIDES

Real yields re-fired to cycle highs and hike odds tripled, yet gold bought every dip into 4,100. The rate model says fade. The tape says floor.

Gold ripped 66 points through every bear channel on a breakeven-led squeeze, then stalled into a fresh balance band. The move earned respect, not trust yet.

Three bear macro channels confirmed and gold closed down just seven points. Sunday's break stays rejected, not confirmed.

Gold sold the Sunday reopen and broke 4,000 on the first US combat deaths of this cycle. The break isn't confirmed yet.

Four days of balance broke. Gold accepted below 4,020 and settled 3,979.9 on the week's highest volume.

Soft PPI popped gold and the fade paid, but real yields printed a fresh cycle high. Pinned 4,020 to 4,090.

Jul 14

ISSUE #14

NEUTRAL INTO PPI

Soft CPI popped gold, then Warsh killed it. The war routes through rates, not safe-haven flow.

The war sank gold instead of lifting it. Real yields lead, and 4,000 is the line into Tuesday's CPI.

Gold sold its own weekend open. Real yields confirmed the drop. Sell rallies into the broken levels, into Tuesday's CPI.

Yields broke out and gold fell on a missile strike. Sell rallies into the broken shelves, into Wednesday's minutes.

Monday proved the bounce, but the real-rate tell caps it. A coil into Wednesday.

A bear-market bounce inside an intact downtrend. A range week between the walls.

The squeeze failed and faded. Bear intact but suspended under the NFP gate.

Relief exhausting at the gate. Positioning leans bear. Loaded week ahead.

Relief, not a pivot. The 4000 floor held. Friday pins.

Jun 25

ISSUE #05

FLAT INTO 8:30

Pinned at 4000. The print decides. Don't carry a position through the number.

The target's hit. Now the setup flips. A one-sided short book is fuel.

The crowd is short into the catalyst. Sell rallies toward the 4000 magnet.

Bearish

New issues land at the top every session. Bookmark this page, or better, get every issue in your inbox before the open.