Gold Price - Where is it heading?

[ducati916]

I'm thinking $123.47

 

[Triple B]

Looks like Gold is trying to break out of this stinkin range its been in for months tonight.
Strong push up after being sold into mid range , and sellers unable to get back to range support . Asian session today was all bulls. Right near highest price in range now . I expect some resistance over london and the NY vol to Help bust through R , Hitting shorts stops on the way up mmmm juicy bear stops.
Already scaled in through the range and all BE . (tiny lots)

 

[explod]

The low in August is pretty well confirmed now. Gold is certainly back on the way up. Yes there will still be some paper drops but the run for fundamental value is beginning. Property and the markets very fragile and trembling in my view.

 

[Triple B]

Will Gold bust through the 1250 mark tonight and stay there? I m seeing higher lows under 1250 after being rejected the first time . strong buying at the moment

 

[InsvestoBoy]

XAUAUD has been doing a good job at moving inversely with the XJO, hedging both AUD weakness and XJO weakness.



If you're running a portfolio including the two, plenty of opportunity here to rebalance.

 

[greggles]

Will Gold bust through the 1250 mark tonight and stay there? I m seeing higher lows under 1250 after being rejected the first time . strong buying at the moment

Good call, just a little early. Gold broke through $1,250 on the 17th and looks like it is headed higher, at least as long as the US government is shut down and the market is plunging. It's a perfect storm of political and economic uncertainty at the moment and as usual, traders are turning to gold.

 

[greggles]

Gold in AUD at $1,800 and nearing all-time highs. Still in a long term uptrend despite the volatility. 2019 might be a good year for Australian gold miners with low AISC.

 

[Ann]

This is my ancient quarterly chart again, the POG is still locked below, well below 1325 long term resistance which I find quite remarkable with the markets doing a bit of a down down trick. I really thought this weak market would spur gold up and through the resistance. I am seeing a weak response, certainly well off what I thought the case would be at quarter's end. This is not inspiring me for 2019 as far as gold's direction.

 

[Ann]

Ahh dear, here I am back again to upset everyone. I just looked at the chart for gold with the Aussie dollar and I reckon it is going to bang its head into the long term overhead resistance line of 1821 get concussion and fall down because it is a triple top coming from 2011. Let's see how it goes. As I like to say, I may be wrong.

 

[greggles]

I just looked at the chart for gold with the Aussie dollar and I reckon it is going to bang its head into the long term overhead resistance line of 1821 get concussion and fall down because it is a triple top coming from 2011. Let's see how it goes. As I like to say, I may be wrong.

Hey Ann, it's gone and busted through $1,821 and is now sitting at $1,832.27. If the Aussie dollar keeps sinking, who knows where the AUD gold price could end up this year?

 

[InsvestoBoy]

XAUAUD traded as high as 1902.61 on ICE this morning on AUD flash crash.

Now trading 1878 on that exchange.

 

[Triple B]

With XAU USD climbing strong towards $1300 and AUD/USD probably now stuck Below 0.70

 

[explod]

Aussie Gold hitting $1,860 atm, close to the top now.

 

[gartley]

Aussie Gold hitting $1,860 atm, close to the top now.

I think short term top maybe, but ultimately higher to 2400 based on the measured move of the ascending triangle in play. Gold has further to go over the next 1-2 years.

 

[Ann]

greggles said: ↑
Hey Ann, it's gone and busted through $1,821 and is now sitting at $1,832.27. If the Aussie dollar keeps sinking, who knows where the AUD gold price could end up this year?

As we have all seen now it fell back hard to $1800 after its major effort to break through the $1821 level, may still advance upward but such a solid drop will now see $1821 as a tougher resistance. If the Aussie dollar keeps sinking so to will gold, they appear to hold each others hand.

gartley said: ↑
I think short term top maybe, but ultimately higher to 2400 based on the measured move of the ascending triangle in play. Gold has further to go over the next 1-2 years.
Possibly but at the moment I am just feeling weakness from gold when I should be feeling strength when markets are weak. I am not sure that an ascending triangle will trump a triple top. Let's see!

 

[explod]

The chart here suggests gold will continue its rise. Fundamentals also support this in my view and is why the markets all over are falling atm. Of course that fed by financial media I find is often devoid of fundamental substance. Cannot see our dollar falling much more either as we are one of the growing few countries who are productive, coal, iron ore, wool, meat, grain and gold to name some.

 

[Ann]

The chart here suggests gold will continue its rise. Fundamentals also support this in my view and is why the markets all over are falling atm. Of course that fed by financial media I find is often devoid of fundamental substance. Cannot see our dollar falling much more either as we are one of the growing few countries who are productive, coal, iron ore, wool, meat, grain and gold to name some.

explod, I am not sure looking at an hourly chart will be particularly predictive for a rise or fall. It is the last price before close which is the only real indicator. Anyway I have put up a matching hourly chart to yours and I am just seeing the POG falling as I suggested it would.

 

[daytradeprofit]

gold position map shows a similar sign to what happened in early 2016
http://www.daytrade-profit.com/2019/01/gold-position-map-show-similar-sign-to.html

 

[explod]

Yes, could be right Ann, but the daily still gives me confidence that the rise will continue. Looks like a move to impeach Trump could be on too and that will put pressure on the US dollar also. We'll see.

 

[greggles]

I'm a gold bull for now, but I'd be happier if it could break through US$1,3000 and stay above it. It's been a good couple of months for gold but I get the feeling that we're in for some consolidation between US$1,275 and US$1,300. I think the U.S. government shutdown and Trump troubles will keep it above US$1.275 for now.