Gold Price - Where is it heading?

[Captain_Chaza]

This GOLD caper is well above my paygrade
I just can't see any sense in it other than "Just another Ponzi Scheme "

Exactly the Same as Bitcoin except that Bitcoin may in time have a Global Relevance

The Correct Tack IMHO is not to be caught at the top

 

[greggles]

This GOLD caper is well above my paygrade
I just can't see any sense in it other than "Just another Ponzi Scheme "

Exactly the Same as Bitcoin except that Bitcoin may in time have a Global Relevance

This is The Lydian Gold Coin, also famously known as "Croeseid". It was first minted around 550 BCE by King Croesus in ancient Lydia, modern-day Turkey, and was the first gold coin ever made.

Gold has been a store of wealth and a medium of exchange for over 2,500 years. That's the opposite of a "fad" or "Ponzi scheme". Every other currency (other than silver) has gone the way of the Dodo. But gold is still here, still growing in value, and still eagerly sought by peasants, pirates and Kings alike as a way of hoarding wealth. It isn't going anywhere.

 

[Garpal Gumnut]

Gee, I'm getting a lot of videos in my YouTube feed about physical gold and silver holdings, supply issues and that paper gold is in serious trouble. All increasing over the past few weeks. I'm not sure if it's the algo picking up that I'm watching them, so it's feeding me more, or if there's just more.

The U-Toob bot watches what we post in the "Goold Heading" thread and then slays the other billion investors with catch up vids from so-called experts. Where we go, there goes GOOGLE and all the others.

Gold is steaming today in Aus and Asia, it will be over $2900 before the sun rises again over Magnetic Island.

gg

 

[Garpal Gumnut]

This is The Lydian Gold Coin, also famously known as "Croeseid". It was first minted around 550 BCE by King Croesus in ancient Lydia, modern-day Turkey, and was the first gold coin ever made.

Gold has been a store of wealth and a medium of exchange for over 2,500 years. That's the opposite of a "fad" or "Ponzi scheme". Every other currency (other than silver) has gone the way of the Dodo. But gold is still here, still growing in value, and still eagerly sought by peasants, pirates and Kings alike as a way of hoarding wealth. It isn't going anywhere.


View attachment 193001

Thanks @greggles .

Aren't they just beautiful. A joy forever.

gg

 

[Garpal Gumnut]

Closed above $2900 just some minutes ago.



A $50 move since Sydney opened this morning.

gg

 

[mullokintyre]

And in AUD terms, the chart is even prettier.
Not bad for a 'Pet Rock".

 

[greggles]

The final stage of the rush into hard assets has begun. The Great Economic Crisis of the 2020s is looming and central banks, preppers, high net worth individuals and an assortment of nerds and oddballs are stacking furiously.

Frothy overhyped loss making AI stocks are going to get ruined when TSHTF.

 

[Garpal Gumnut]

Once gold gets through $3000 the Chinese cousins both in the Central bank and Retail will buy it as if there were no tomorrow. As members may be aware they do attribute good and bad luck to numbers. There may be a pause at $3240 and $3400 followed by retracements and again a major pause at $4000 with significant profit taking.

Three and four are significant, 3 for good fortune and 4 for bad. Please don't get too involved with the ins and outs of Chinese small numbers as the Chinese cousins though numerous are not the only nationality trading gold in large quantities. I would imagine though that there will be a significant price rise of short temporal duration between $3300 and $3399.

The following paragraphs are from a trusty Feng Shui site, on numbers.

Chinese Lucky Numbers and Unlucky Numbers

Chinese Lucky Numbers and Unlucky Ones - Do you know the meaning behind them or you already using the auspicious ones for your house and car?

fengshuibeginner.com

Three​

Three is considered as a positive and meaningful number as its pronounced as “lively”, thus the attributes of growth and eternity are linked to this number. A favourite magical Feng Shui symbol comprises of placing three coins under a healthy plant in order to nourish wealth. Three is assigned to human beings.

Four​

In the East, four is being labelled as the most negative number and to be avoided at all cost because the pronunciation of “four” sounds like the word “death”.

Some number combinations to avoid​

24: It is easy to die

74: Go and die

174: Die together

End.

This post will be subsumed quickly as gold becomes more attractive to doormen and taxi drivers and posts become more numerous but I thought it worth mentioning for the benefit of those members with an interest in "Where gold is heading".

gg

 

[Dona Ferentes]

Once gold gets through $3000 the Chinese cousins both in the Central bank and Retail will buy it as if there were no tomorrow. As members may be aware they do attribute good and bad luck to numbers. There may be a pause at $3240 and $3400 followed by retracements and again a major pause at $4000 with significant profit taking.

Three and four are significant, 3 for good fortune and 4 for bad. Please don't get too involved with the ins and outs of Chinese small numbers as the Chinese cousins though numerous are not the only nationality trading gold in large quantities. I would imagine though that there will be a significant price rise of short temporal duration between $3300 and $3399.

The following paragraphs are from a trusty Feng Shui site, on numbers.

Chinese Lucky Numbers and Unlucky Numbers

Chinese Lucky Numbers and Unlucky Ones - Do you know the meaning behind them or you already using the auspicious ones for your house and car?

fengshuibeginner.com

Three​

Three is considered as a positive and meaningful number as its pronounced as “lively”, thus the attributes of growth and eternity are linked to this number. A favourite magical Feng Shui symbol comprises of placing three coins under a healthy plant in order to nourish wealth. Three is assigned to human beings.

Four​

In the East, four is being labelled as the most negative number and to be avoided at all cost because the pronunciation of “four” sounds like the word “death”.

Some number combinations to avoid​

24: It is easy to die

74: Go and die

174: Die together

End.

This post will be subsumed quickly as gold becomes more attractive to doormen and taxi drivers and posts become more numerous but I thought it worth mentioning for the benefit of those members with an interest in "Where gold is heading".

gg

8888 and 8899 ... how many numberplates with those numbers do you see?

 

[ducati916]

jog on
duc

 

[Sdajii]

Once gold gets through $3000 the Chinese cousins both in the Central bank and Retail will buy it as if there were no tomorrow. As members may be aware they do attribute good and bad luck to numbers. There may be a pause at $3240 and $3400 followed by retracements and again a major pause at $4000 with significant profit taking.

Three and four are significant, 3 for good fortune and 4 for bad. Please don't get too involved with the ins and outs of Chinese small numbers as the Chinese cousins though numerous are not the only nationality trading gold in large quantities. I would imagine though that there will be a significant price rise of short temporal duration between $3300 and $3399.

The following paragraphs are from a trusty Feng Shui site, on numbers.

Chinese Lucky Numbers and Unlucky Numbers

Chinese Lucky Numbers and Unlucky Ones - Do you know the meaning behind them or you already using the auspicious ones for your house and car?

fengshuibeginner.com

Three​

Three is considered as a positive and meaningful number as its pronounced as “lively”, thus the attributes of growth and eternity are linked to this number. A favourite magical Feng Shui symbol comprises of placing three coins under a healthy plant in order to nourish wealth. Three is assigned to human beings.

Four​

In the East, four is being labelled as the most negative number and to be avoided at all cost because the pronunciation of “four” sounds like the word “death”.

Some number combinations to avoid​

24: It is easy to die

74: Go and die

174: Die together

End.

This post will be subsumed quickly as gold becomes more attractive to doormen and taxi drivers and posts become more numerous but I thought it worth mentioning for the benefit of those members with an interest in "Where gold is heading".

gg

Numerology is basically absurd nonsense. There actually is a little bit of basis to it in some contexts, but the Chinese absurdity you're describing is completely stupid.

But, it's very relevant, because you have billions of Asians and even a few non Asians who believe in 3 being good, 4 being bad, 8 being good, etc, which makes it relevant. I'm in Asia most of the time, and while I've never been to China, I constantly see things like building floors 4, 14, 24 being labelled as 3B, 13B, 23B etc. (I find it funny when 14 is relabelled as a 'more lucky' number 13).

When you have literally billions of people believing in something which will guide their decisions, no matter how ridiculous it is, it's relevant to us. Asians are extremely superstitious and this guides their decisions particularly heavily when it comes to anything to do with what they do with money. In most of Asia, gold is very heavily coveted. It hadn't occurred to me that US$3,000 would be so relevant in this way, or that $4,000 may actually prove to be significant resistance, but once pointed out, I can clearly see it - being based in Asia myself it's impossible not to see once you see it, it's surprising I didn't join those dots for myself.

$4,000 being a tricky resistance level isn't a big problem when buying/holding around $3,000. Might set $3,887.99 as my new target!

We're a long way away, but $8888 will be a big one when it gets there!

 

[Sean K]

Two months of FOMO. $5K isn't all that far away for AUDPOG.

Must be profit taking / consolidation soon.

 

[mullokintyre]

Numerology is basically absurd nonsense. There actually is a little bit of basis to it in some contexts, but the Chinese absurdity you're describing is completely stupid.


We're a long way away, but $8888 will be a big one when it gets there!

You have to get past $4444 first, and thats really bad!
Mick

 

[Sdajii]

You have to get past $4444 first, and thats really bad!
Mick

Haha, indeed, that will be quite a hurdle, but it'll be a great buying opportunity.

 

[Sean K]

Relatively calm trading in risk assets belies signs of concern about the potential impact of a worsening trade war on the global economy as gold prices continue to hit record highs.

Markets have been less reactive to trade war escalation this week and gold continued to soar after US President Donald Trump announced 25 per cent tariffs on steel and aluminium.

Amid unprecedented demand from central banks and fear of a global trade war as the US continues to increase tariffs, gold has risen six weeks in a row.

It’s heading for a seventh straight weekly gain — something it hasn’t done since mid-2020.

Gold was already the top performing major asset class after rising 2.2 per cent last week amid a rollercoaster ride for global risk assets after the US President ordered, then delayed, 25 per cent tariffs on Canada and Mexico and went ahead with 10 per cent tariff increases on China.

After hitting a record high of $US2942.68 per ounce on Tuesday after Trump went ahead with steel and aluminium tariffs, gold was up as much as 2.9 per cent for the week and 12 per cent for the year.

(It’s worth noting volatility in gold is increasing as it nears the psychological $US3000 mark Citi set as its three-month target last week. Volatility can be an early sign of turning points.)

It was perhaps telling to see gold briefly erase all of a 1.2 per cent intraday rise in the space of 10 minutes in the normally quiet Asia-Pacific market on Tuesday.

However, liquidity would have been a fraction of normal levels, with Japan closed for a public holiday.

Citi is wary of a pullback in gold around late March or April — perhaps on certainty over whether any broad tariff may include gold or not and further progress is made towards ending the Russia-Ukraine war.

 

[Garpal Gumnut]

Numerology is basically absurd nonsense. There actually is a little bit of basis to it in some contexts, but the Chinese absurdity you're describing is completely stupid.

But, it's very relevant, because you have billions of Asians and even a few non Asians who believe in 3 being good, 4 being bad, 8 being good, etc, which makes it relevant. I'm in Asia most of the time, and while I've never been to China, I constantly see things like building floors 4, 14, 24 being labelled as 3B, 13B, 23B etc. (I find it funny when 14 is relabelled as a 'more lucky' number 13).

When you have literally billions of people believing in something which will guide their decisions, no matter how ridiculous it is, it's relevant to us. Asians are extremely superstitious and this guides their decisions particularly heavily when it comes to anything to do with what they do with money. In most of Asia, gold is very heavily coveted. It hadn't occurred to me that US$3,000 would be so relevant in this way, or that $4,000 may actually prove to be significant resistance, but once pointed out, I can clearly see it - being based in Asia myself it's impossible not to see once you see it, it's surprising I didn't join those dots for myself.

$4,000 being a tricky resistance level isn't a big problem when buying/holding around $3,000. Might set $3,887.99 as my new target!

We're a long way away, but $8888 will be a big one when it gets there!

Thanks for the insight on numbers "on the ground, or higher" for the Chinese cousins @Sdajii . I never realised the re-numbering was so pervasive as I haven't been to China since QE2 ruled the New Territories and I ventured around about the border when Mao was still wooting any skirt or troos that moved with a little red book.

gg

 

[mullokintyre]

Numerology is basically absurd nonsense. There actually is a little bit of basis to it in some contexts, but the Chinese absurdity you're describing is completely stupid.

But, it's very relevant, because you have billions of Asians and even a few non Asians who believe in 3 being good, 4 being bad, 8 being good, etc, which makes it relevant. I'm in Asia most of the time, and while I've never been to China, I constantly see things like building floors 4, 14, 24 being labelled as 3B, 13B, 23B etc. (I find it funny when 14 is relabelled as a 'more lucky' number 13).

When you have literally billions of people believing in something which will guide their decisions, no matter how ridiculous it is, it's relevant to us. Asians are extremely superstitious and this guides their decisions particularly heavily when it comes to anything to do with what they do with money. In most of Asia, gold is very heavily coveted. It hadn't occurred to me that US$3,000 would be so relevant in this way, or that $4,000 may actually prove to be significant resistance, but once pointed out, I can clearly see it - being based in Asia myself it's impossible not to see once you see it, it's surprising I didn't join those dots for myself.

$4,000 being a tricky resistance level isn't a big problem when buying/holding around $3,000. Might set $3,887.99 as my new target!

We're a long way away, but $8888 will be a big one when it gets there!

Numerology is probably no more nonsense than a lot of other superstitions, like religions, astrology or modelling.
Mick

 

[Dona Ferentes]

In Chinese culture, "homophone numbers" refer to numbers that sound similar to other words, giving them additional meanings based on pronunciation; for example, the number "8" (bā) sounds like the word for "wealth" (fā), making it a very auspicious number in Chinese culture.

Key points about homophone Chinese numbers:

• Lucky Numbers:
  Numbers like 2 (balance), 8 (wealth), and 9 (longevity) are often considered lucky due to their homophones.
  
  
• Unlucky Numbers:
  The number 4 (sì) is considered unlucky because it sounds similar to the word for "death" (sǐ).
  
  
• Cultural Significance:
  This phenomenon is deeply ingrained in Chinese culture, influencing how people interpret numbers in everyday life, such as choosing phone numbers or dates.

 

[Garpal Gumnut]

While it is good to see gold doing so well there is always the chance of a retracement but none of the usual supsects who appear on kitco.com for example are considering this seriously.

The main attraction for me in holding gold is it's long term store of value. I am more risk averse than greedy, although as greedy as most, and it suits my needs to see it in a bull run and anchoring my investments. Should it fall, which I doubt, there will always be someone to buy it, unlike other assets.

Hoards of gold are still being discovered in England from Viking times when the Norse were frightening everyone in to hiding it as opposed to hosting their natural enemies on social security as they do now.

gg

 

[qldfrog]

In Chinese culture, "homophone numbers" refer to numbers that sound similar to other words, giving them additional meanings based on pronunciation; for example, the number "8" (bā) sounds like the word for "wealth" (fā), making it a very auspicious number in Chinese culture.

Key points about homophone Chinese numbers:

• Lucky Numbers:
  Numbers like 2 (balance), 8 (wealth), and 9 (longevity) are often considered lucky due to their homophones.
  
  
• Unlucky Numbers:
  The number 4 (sì) is considered unlucky because it sounds similar to the word for "death" (sǐ).
  
  
• Cultural Significance:
  This phenomenon is deeply ingrained in Chinese culture, influencing how people interpret numbers in everyday life, such as choosing phone numbers or dates.

Missing floors in buildings too and room numbers