This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

Gold Price - Where is it heading?

Jump to new
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.
 
explod said:
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.
Click to expand...
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.

 
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 said:
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.
Click to expand...

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

 
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

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.
 
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?

 
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?

 
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.

 
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.

 
greggles said:
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.

View attachment 87381
Click to expand...

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
 
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.
 
Hi all,

I'm pretty knew to the markets and couldn't help but ask any reason for the Gold selling off ?
 
You must log in or register to reply here.

Similar threads

M
Investing in Gold
3 4 5
Replies
81
Views
12K
qldfrog
SGD - Siguiri Gold Corp.
Replies
1
Views
768
Dona Ferentes
GMIN - G Mining Ventures Corp. (TSX)
Replies
1
Views
527
mullokintyre
US Election 2024 : Stock and Economic Comment
7 8 9
Replies
171
Views
10K
divs4ever
  • Sticky
Resources Rising Stars 2024 Conference Gold Coast
Replies
7
Views
2K
Garpal Gumnut
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...