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Gold Price - Where is it heading?

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Gold looking very vulnerable.
Not even Kim Jong Un could get a bounce out of it today with a missile test.
Short term short opportunity me thinking.
Be watching and nibbling it over the next few days whilst looking and feeling for confirmation.
 
Given that the US has confirmed it was an ICBM that puts that ups the anti. So going short gold would not be a prudent move at this point! What will eventuate from the closed council meeting and what will Putin try to pull over Trump in their meeting.

"But bullion has risen 0.6 per cent in two days as North Korea's rocket launch revives geopolitical concerns. US Secretary of State Rex Tillerson called the act a "new escalation of the threat" and the United Nations Security Council plans a closed session later on Wednesday after the US requested a meeting. It's up 0.4 per cent to $US1228 an ounce in Asian trade today."

Without that however -

"If US unemployment keeps falling, and the Federal Reserve keeps raising interest rates no matter what the inflation data show, that will be negative for gold in the short term, Gordon said.

Still, solid demand this year and weaker output, coupled with a lower US dollar, are positive for prices, he said. If equity valuations start to drop, investors could turn to gold too, he added.."
 
Uncle Festivus said:
Ding Dong.......

Sweet Spot.......
Click to expand...
Short at resistance 1240? If you haven't already!
I shorted NST the day before it reported. On the day it went up a little then backed down pretty sharply. I only offloaded half on the fake up.
 
Signs are that the US dollar will continue to weaken which will add fundamental strength to gold in my view.

Short at your peril as upward moves in gold at the close of a trading week are unusual and bullish. Only time will tell of course but caution for now IMHO.
 
Gasoline jumped 6% and explod and zerohedge were silent....gold jumps 2% because some hermit launches a missile and explod crawls out from under a rock with zerohedge and all the other gold bugs..times are changing alright, heck they've already changed explod !
 
You cant really save gasolene but you can physical gold. And due to its deflation I'm not interested in hoarding money. $40 cash (equal to an ounce of gold) in the pocket in 1973 is still only $40. The ounce of gold is now worth $1650
 
I was expecting an even better day for gold and worse day for equities than we had.
People don't think Trump is going to do anything. That would be good.
But he may need to do something for his own kudos amongst his moronic base. Who don't understand.
The USSR was broken not with weapons but just letting them run dry trying to hold onto things that did not want to be held! China is the same and they know it.

Bigger question might be when is the US going to become less delusional about the strength of it's economy. The debt is huge, inflation is not inflating them out of it. GDP is not stella at all and if you think they are going to get meaningful tax reform through, think again.

It's a mess!
 
Nice little earner........from the ding dong post.



COT's have become a little less bearish but may be setting up for seasonal strength.

Gold doesn't believe the Fed - neither does The Market - the Fed has lost control of the monster it has created.....

Buy Crypto, gold is finished? No & no. The Establishment (TE) has been slow to nip this but have now taken steps to control Crypto, just like gold. Eventually TE will still like full control over your 'money' so a centralised Crypto would be TE's wet dream. Give it time and a full blown stock market correction, which is imminent, yet again!
 

The more it changes the more it stays the same.

All the Bear Bazookas are still here from 10 years ago, only multiplied by several factors now.

It's not going to take much to trigger a self reinforcing negative feedback loop. Pakistan is essentially a nuclear armed Islamic Caliphate now. Debt and the multitude of bubbles it has created are at records, and yet stocks are priced for perfection in a non perfect world.

The end is literally near.....
 
4 and a half years of consolidation is a long consolidation, remember all the bears with their 6, 7 and 800 talk? a break above 1400 in the absence of any disaster price driver should see the old high taken out eventually, will take 2 or 3 or 4 years but it would be pretty much inevitable i would think, a Saudi, Korean or Trump disaster would accelerate that rise.
 
Fortunately the Fed and it's bankster subs have a new kid to subdue in crypto's so maybe take the attention off gold for a while? Although right now it's looking like a USD play, and the COT's show another pullback is due?
It will take another fiat/crypto extinction event to break out from here. Inflation is everywhere the Fed isn't looking - funny that. The market has them utterly bluffed!
Even the jawboning from Fed members is having no effect - you can literally hear the nervousness in their voices about uncontained bubbles crashing all their good work ie equites.
 
Gold gained another A$23 overnight and is now at levels not seen since September 2016. All-time high was A$1821.32 on 6 July 2016.

 
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