Gold Price - Where is it heading?

[explod]

The resistance at US$1400 has this week become support.

Based on my observations of chart behaviour in relation to gold against the days of the weeks fluctuations, particularly Fridays gold will finish the week below $1400, probably around $1385.

A steady acumulating rise is what I like to see. So the recent action is loooking good, IMHO.

 

[Trembling Hand]

The resistance at US$1400 has this week become support.

Based on my observations of chart behaviour in relation to gold against the days of the weeks fluctuations, particularly Fridays gold will finish the week below $1400, probably around $1385.

A steady acumulating rise is what I like to see. So the recent action is loooking good, IMHO.

Right on cue there goes the Illuminati attacking ya gold,

 

[Frank D]

GOLD Primary Cycles

Gold has continued up into the August levels @ 1411 and stalled, helped by a move back above the BUY
zone @ 1337 & the monthly 50% level in August.

The trend for the rest of the year is based on the September level @ 1397 (next week)...

It's either going to drift back down into the BUY zone @ 1337, as part of a larger Primary trend down into
the 2014 lows....

OR, there is a larger rotation upwards that could take place that sees gold rises, as part of a move
towards the 2014 Yearly 50% level :- 1491 to 1526.( Primary Cycles)

If the latter occurs, then there is still the view that GOLD will revisit the Primary lows in 2014, as part of
the Break & extend pattern from the 2013 Yearly lows (Dilernia Principle)

 

[Uncle Festivus]

Right on cue there goes the Illuminati attacking ya gold,

It's becoming just too obvious when you put your sell orders in TH!

How much physical do you have now? I hear JPM will pay you a premium for it

Gold is a currency - last one standing in a currency war?

This just in: Societe Generale Strategist Albert Edwards sees a massive market crash on the horizon.

The S&P 500 index SPX-0.32% will tumble to 450. Investors will bid up haven assets like gold, which will climb seven-fold, and the 10-year Treasury note, whose yield will fall below 1%, he writes in his latest note to clients.

Gold will soar to $10,000 per ounce, he said, while U.S. Treasurys will yield less than 1 percent and the U.S. S&P 500 will plummet over 72 percent to levels of 450. He did not give a time frame for these moves, however.

 

[G Gekko]

The resistance at US$1400 has this week become support.

Based on my observations of chart behaviour in relation to gold against the days of the weeks fluctuations, particularly Fridays gold will finish the week below $1400, probably around $1385.

A steady acumulating rise is what I like to see. So the recent action is loooking good, IMHO.

Nice prediction. I agree also, if it shoots to the sky then the only place for it to go is down. Hopefully we'll see a rebound as early as next week.

 

[notting]

DJ MARKET COMMENT: Gold Rise Fails to Lift Miners as Risk Appetite Falls

WTF!

Oh right. Gold is a safe haven but gold miners are risk assets. I see. That makes sense, they should move in contrast to each other.
If I were a drinker I think I'd do a full litre of gin at this point.

 

[MARKETWINNER]

Finally I think GOLD will have range bound from $1200 to $1500. There will be some support for gold due to new development. If gold break psychological barrier of $1500 it may trade in the range bound from 1400 to 1600.

The military coup in Egypt and the crisis in Syria have been stopped the collapse of the gold price.

I also think we may have biggest gain in some commodity stocks sooner than later.

In the long run both gold and oil may come down.

If Gold prices go down dramatically both India, China and countries over exposure to gold will hit hard. More consumption of gold in India will create more problems for India now. In rupee value Indian gold and silver are having good prices now. Indian gold market may have more volatility in the in the short run. Indian rupee may stabilize sooner than later.

Some gold players may profit when gold reach around $1400.

My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.

 

[Bintang]

My ideas are not a recommendation to either buy or sell any security, commodity or currency.

Thank goodness!

 

[Stratanu]

Gold has extended its setback, removing both the 20-day average at 1377 and former price support at 1373. This leaves the immediate focus now on more important levels at 1352/49 – channel, price and 40-day average support at 1352/46 – which we would expect to support a rebound. Bigger picture, below here and 1337 – 38.2% of the June/August rally – would suggest the broader bear trend is resuming, for 1277/72. Resistance moves to 1400, but above 1415/17 to retarget the 1434 recent high. Above here would see further strength to tougher resistance at 1463/1488 – channel and a cluster of retracement resistance.

Strategy: Short, stop above 1435. Take profit at 1280.

 

[notting]

Down 2.5% last night to 1320 ish.
As tapering starts it will be interesting to see if gold can get back down to 1275 and will be even more interesting to see what it does then.
Syria has been such an annoying distraction from the rhythm of main game.

 

[Frank D]

Gold Primary cycles

GOLD remains around the BUY of 1337, as it consolidates within the monthly cycles.

It may continue to do so for the rest of the year, as it moves into 2014...

but the Primary cycles continue to suggest a Primary trend down into the 2014 Yearly lows, and
long term BUY zone.

 

[notting]

Debt solution and tapering will end golds shine for quite some time, unless some other risk starts dominating speculative thinking.

 

[young-gun]

Debt solution and tapering will end golds shine for quite some time, unless some other risk starts dominating speculative thinking.

By tapering I assume you're referring to the fed. They won't be tapering any time soon, in fact I'd put money on never.

 

[skc]

By tapering I assume you're referring to the fed. They won't be tapering any time soon, in fact I'd put money on never.

How much? I think plenty of people will be willing to take the other side of the bet.

 

[zac]

By tapering I assume you're referring to the fed. They won't be tapering any time soon, in fact I'd put money on never.

When you say soon, what time frame? ie weeks, months, next year?
I personally expect early next year.

So you're putting money on it from a trading point of view? Whats your money on?

 

[young-gun]

When you say soon, what time frame? ie weeks, months, next year?
I personally expect early next year.

So you're putting money on it from a trading point of view? Whats your money on?

By 'anytime soon' I meant I personally don't think they will ever taper. If they were to taper it will be very short lived. Bernanke simply hinted at tapering a couple of months ago and yields started to spike and markets fell. As for what my money is on, I'm not much of a trader, and don't have enough knowledge to comfortably day trade or anything. Long term I don't see holding stocks as a good option. Naturally I own bullion, despite all the naysayers, I am aware it doesn't return anything.

If I was a trader I think it would be very difficult to judge where too from here. We're in the unknown. You would suspect markets will continue to creep in an upward trend, however more stimulus will be required shortly to maintain the desired effects. This is clearly evident just by looking into recent history and how every other QE has failed/ended. I would short term trade in advance of big announcements relating to QE. Rather not dive into how I would trade it as I wouldn't want it to be misconstrued for advice, and they may not be the best ideas for trades to place.

The second they taper rates spike = bad for government = hit debt ceiling even faster = more of the same until we reach a breaking point.

JMO of course.

 

[Uncle Festivus]

Right on cue there goes the Illuminati attacking ya gold,

View attachment 54131

Deja Vu? Right on Q? Perzactly 1 month later........you'd think they would get the work experience kid to change the sell algo once in a while??

 

[Tano]

Deja Vu? Right on Q? Perzactly 1 month later........you'd think they would get the work experience kid to change the sell algo once in a while??

Would you able to explain the graph in relation to the attack? Is it the sudden drop in price in the dying minutes of the last day of the month?

 

[Uncle Festivus]

Would you able to explain the graph in relation to the attack? Is it the sudden drop in price in the dying minutes of the last day of the month?

Who knows these days, could be -

• a major fund was said to be rebalancing its gold position
• end of qtr window dressing
• CFTC gone home due to government shut down
• yet another fat finger, several times, right at the same time
• a Fed lickspittle creating a low buffer for the debt ceiling fiasco to be bought into
• all part of the scheme to break the resolve of anything not $USD because the $USD is fast losing the global reserve status.

 

[Porper]

Who knows these days, could be - all part of the scheme to break the resolve of anything not $USD because the $USD is fast losing the global reserve status.

Doesn't your last comment go against everything you have been saying over the years Uncle? If the $USD is not recognised as a safe haven then what is? Still Gold I suppose but there continues to be this manipulation...gee the manipulators have a lot to answer for!! It couldn't just be normal market forces could it?