Gold Price - Where is it heading?

[Miner]

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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Greggles mate
You are not only on the money but also being correct to stand up with vetting your analysis.
Good work and good for my gold stocks too

 

[explod]

And very volatile in the last week or two which is in step with the markets.

However gold is going up in the opposite direction to the vale of the super funds.

Interesting times.

 

[greggles]

And very volatile in the last week or two which is in step with the markets.

However gold is going up in the opposite direction to the vale of the super funds.

Interesting times.

Gold bounced back hard in the last 24 hours after China announced retaliatory tariffs on a range of U.S. imported goods.

However, gold in AUD is still having difficulty breaking through resistance at A$1,755.

 

[greggles]

Gold in AUD has been range trading between $1725 and $1750 for the past few weeks but just can't break through $1750 with any conviction.

With the U.S. and Russia at loggerheads over Syria, the impetus might finally be there for a strong move north. Just gotta wait for those missiles to start flying in Syria.

Watching with interest.

 

[greggles]

With the U.S. and Russia at loggerheads over Syria, the impetus might finally be there for a strong move north. Just gotta wait for those missiles to start flying in Syria.

Missiles started flying in Syria but gold wasn't trading. Should see a move north on Monday morning. The geopolitical landscape should be tense for a while. There will be an expectation of a Russian response.

 

[noirua]

Gold appears to have stalled in price just as cryptos collapsed in price. I'm not sure what the correlation is really. Maybe if they rise quickly again gold will too. Gold backed cryptos by the many hit the blocks in the second quarter of 2018 onwards. Demand for gold will, well should, rise but gradually. US$1,500 looks like a 2018 target.

 

[greggles]

Gold still struggling to find direction.

 

[Joules MM1]

Gold still struggling to find direction.

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would be inclined to err on the side of longs, very slow squeez upwards ...usd is slumping

 

[Joules MM1]

Gold still struggling to find direction.

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silver leading the way
gold/xau eating its way higher

 

[explod]

Seems set for a positive move now, even Kitco are publishing bullish articles.
However as gold is mainly comprised of paper contracts anything can happen.

 

[greggles]

Gold in AUD taking another crack at $1,750. It's like it wants to push through, but just can't find the momentum.

 

[greggles]

Egyptian billionaire Naguib Sawiris puts half of his $5.7 billion net worth into gold

https://www.bloomberg.com/news/arti...ight-spot-for-billionaire-who-forecasts-crash

He said in an interview Monday that he believes gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now, while “overvalued” stock markets crash.

“In the end you have China and they will not stop consuming. And people also tend to go to gold during crises and we are full of crises right now,” Sawiris said at his office in Cairo overlooking the Nile. “Look at the Middle East and the rest of the world and Mr. Trump doesn’t help.”

That's a sizeable wager. I agree with his logic somewhat, but geopolitical wrangling has a way of turning out differently to how we expect.

 

[greggles]

Gold in AUD is still in an uptrend. The big question is, can it finally break through $1,750 which it has been flirting with for a month and a half now? Perhaps this week?

 

[greggles]

Gold in AUD has finally broken through $1,750 and has done so convincingly. Should see a nice lift in the share price of ASX-listed gold mining companies today, especially those that are largely unhedged.

Next stop $1,800 and then all-time highs?

 

[greggles]

Gold in AUD looking very bullish and primed to take on all-time highs. Not far to go until it is in blue sky territory and I think it has the momentum to get there very soon.

 

[greggles]

Well, gold has broken down and gold miners are tumbling down with it. My hopes and dreams dashed by a broken trend line. I really had some optimism for gold in the short term but it was not to be. For now at least.

 

[Joules MM1]

Well, gold has broken down and gold miners are tumbling down with it. My hopes and dreams dashed by a broken trend line. I really had some optimism for gold in the short term but it was not to be. For now at least.

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not necessarily if youre playing based on AUD, the USD is killing everything so any horizontal play in gold in USD is likely to translate into upwards price action in AUD

here's an alternative way to see this chart

 

[greggles]

Thanks for that different perspective Joules. The reason I follow gold in AUD is because I follow ASX-listed gold miners and AUD gold has a bigger impact on them than USD gold.

It does work as two channels, although AUD gold looks ready to break down through the support line of the top channel, so it will be a struggle for it to stay above it.

 

[Gringotts Bank]

Well, gold has broken down and gold miners are tumbling down with it. My hopes and dreams dashed by a broken trend line. I really had some optimism for gold in the short term but it was not to be. For now at least.

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Daily gold futs looks ready to bounce upwards off support trendline.

 

[kokonut]

Hi all,

I'm pretty knew to the markets and couldn't help but ask any reason for the Gold selling off ?