Australian (ASX) Stock Market Forum

Gold and Silver in free fall

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Next stop $1600.... hopefully we have a trigger for a hard reversal before that. Buy oil, sell gold?
Ducati or Hartley have the why.

Screenshot_20210305-070553.png
 
I have been buying bullion since the very peak, paid 4.6k for 2oz (62g) this week almost the same 4.4k for 50g late last year. Still buying and accumulating all the way down, not much to go
 
Unless you are in the US, what matter os tha aud per oz price.now i coukd see another down phase for gold on usd, bit ..and i could be wrong, i believe we are not far from the bottom in aud. Either usd rises, and gold go down but a relatively level price in aud or usd rises, aud falls back to it 60ish normal price and you mske a killing especially with gold minor.
I stated putting money in miners in the last month.too early i know now but i do not have a crystal ball, and a month or 2 will make no big difference in 3y time if I am right,or even if wrong.
 
qldfrog said:
Unless you are in the US, what matter os tha aud per oz price.now i coukd see another down phase for gold on usd, bit ..and i could be wrong, i believe we are not far from the bottom in aud. Either usd rises, and gold go down but a relatively level price in aud or usd rises, aud falls back to it 60ish normal price and you mske a killing especially with gold minor.
I stated putting money in miners in the last month.too early i know now but i do not have a crystal ball, and a month or 2 will make no big difference in 3y time if I am right,or even if wrong.
Click to expand...
its just the bond rates creeping up due to inflation/hyperinflation expectations. As soon as the new stimulus is fully passed and FED steps in to suppress bond yields, we will see more negative real rates and gold will spike for sure. I am buying perth property stock but will nibble at my fav gold miner stocks soon :D, getting cheap for the amount of cash flow they bring in even at AUD$2200 for gold, gold miner AISC is only $1400 or so, big big profits there.
 
stealth rotation upon hitting the base of the larger channel
current larger structure is very bullish, proviso, the base of the channel, yesterdays lift, holds...
xauusd has already started a smaller structure and channel, breaking down this channel and 1679 would be enough to confirm the bear trend, price breaking thru the larger channel base distribution would be heavy,
based on previous activity we should reach the minimum of mid larger channel, my guess is we're headed a lot higher than that, everything required is in the auction, confirming we have new leg up would be satisfied by snapping the regular series of lower highs n lower lows thru
1751's xauusd

 
As you know I'm bullish POG. I'm concerned that the pull back in the POG Thurs-Frid wasn't corrective. I think Friday's rally is wave B and we may see a wave C back down to 1700. If 1700 holds or wave C is truncated or price charges through 1740. We're off to the races.
 
peter2 said:
As you know I'm bullish POG. I'm concerned that the pull back in the POG Thurs-Frid wasn't corrective. I think Friday's rally is wave B and we may see a wave C back down to 1700. If 1700 holds or wave C is truncated or price charges through 1740. We're off to the races.
Click to expand...

technically everything is in place for more upside but jeez talk about lame ....
 
1751's taken out on an impulsive bid, local stock buyers had an ah-ha moment this morning

the channel upwards now has several qualifiers so first signs of fake a lift will be a breaking of this opening channel
the larger downsloping channel still dominates so bulls still have a lot to prove but given where we're bouncing from more
upside looks good to at least the mid of the downchannel altho i suspect a lot higher

a chase is on but is it the start of another bull leg .....the bulls in here are pretty quiet
 
Joules MM1 said:
1751's taken out on an impulsive bid, local stock buyers had an ah-ha moment this morning

the channel upwards now has several qualifiers so first signs of fake a lift will be a breaking of this opening channel
the larger downsloping channel still dominates so bulls still have a lot to prove but given where we're bouncing from more
upside looks good to at least the mid of the downchannel altho i suspect a lot higher

a chase is on but is it the start of another bull leg .....the bulls in here are pretty quiet
Click to expand...

Picked up 4oz of gold bullion total this week.... back to being quiet
 
Jordan Roy-Byrne's current take on the gold market and gold stocks, Mar 12
(abridged) showing conviction but patience and is accumulating gold stocks for himself and clients now.
--‐‐---------------------‐------------
"Given where the Gold to S&P 500 ratio and the CAPE is (near an all time high and almost twice as high as in 2011), we know the real move in Gold is still ahead of us.
(As you can see, major peaks in the stock market & CAPE lead to major moves higher in the Gold to S&P 500 ratio). See linked article

At present, Gold has been correcting its big move (along with gold stocks) but has been weakening in real terms. That reflects that current fundamentals are not quite bullish for Gold. The market anticipated higher real rates and a dollar rally and anticipated that inflation will remain under control, at least for most of this year. Nevertheless, the setup for huge gains over the next few years remains in place.

Take a look at the important sector ratios in the chart below (goes on to chart
GDX vs Gold, GDX vs SPX (S&P500), Gold vs SPX)
These ratios are in position for huge upside moves. Breakouts would signal capital moving from stocks and into Gold, from stocks and into gold stocks, while gold stocks dramatically outperform Gold.

Gold itself is correcting and building the handle on a very bullish cup and handle pattern, which projects to an upside target of $3000/oz. The breakouts in those ratios should coincide with Gold breaking past $2,100/oz.

At present, the catalyst for that move is unclear.
It could be accelerating inflation, a move to yield curve control, or a peak in the stock market, which has become negatively correlated with precious metals.

While none of these things appear imminent and could be a few quarters away, note that the market will move in advance before the catalyst becomes obvious.

Because nothing appears to be imminent, we can buy quality and high-quality juniors that have corrected 30% to 40% and more.

As an investor, I’m positioning myself in the highest quality companies with the most upside potential. I’m looking for and investing in companies that have a defined value, fundamental quality, and have the potential to be 5, 7, and 10 baggers when the real bull market begins, and this sector makes its next impulsive advance.

In our premium service, we continue to identify and accumulate those quality juniors with considerable upside potential over the next 24 months."
thedailygold.com

The Gold Bull Market Has Barely Started

Gold's severe correction and weak performance in relative terms has led many to ask if the bull market is over. While Gold is correcting the ...
thedailygold.com thedailygold.com
 

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