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Gold Price - Where is it heading?

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It definitely looks that way. If it implodes big IF, or perhaps when. Then gold should run
 
Gold approaching a 12 month 50% level.






Gold and Silver are currently out of sink which doesn't usually happen for extended periods?





Thinking out loud, the punter in me says Long Gold/ Short Silver in the short term should be low risk based purely on past "equalization"?
 
Gold been very dissapointing since mid last year. Back then was working with the assumption that wave 4 was tracing out however it made a new high negating what I thought was a developing contracting triangle. Have not given up on the wave 4 count yet as current move down maybe wave c of an irregular correction.
Could also be that wave 4 complete and that the move up last 3 years was the wave 5 terminal wave. Irrespective not game enough to dabble in the miners atm.

 
Reactions: rnr
I'm no commodity trader, but I'd agree on the charts. Ag double top and Au set to bounce.

Thanks @barney

gg
 
Gold supplies have flipped from excessive to deficient. Similar situations in the past have sparked a rally in gold prices. Consequently, Wells Fargo has turned positive on gold, saying that the previous scenario is likely to be repeated now also. The diminishing supply growth is likely to take gold prices to up to $2,200 per ounce during 2021. Gold could be on the eve of a new commodity bull super-cycle, he added.


Gold to Brace Strongest Price Action in 2021

The supply had become excessive in 2011 as well. United States Gold News
www.scrapmonster.com
 
Sounds pretty fair
however, i have invested in commodity tokens which is pegged to gold (1:1).
Why do you think, investing in Bitcoin is a good idea now ?
 
frugal.rock said:
Dogecoin up 6x within 10 days...
All cryptos gone nuts as well.... all except BTC really....!
I hope the crypto world comes crashing down, HARD.
That's not even schadenfreud, just easy come easy go.
Click to expand...
I think crypto will be replaced by sovereign backed digital currency.
No assets back crypto so I am not sure how it can compete when that day comes.
But that's not my scene, so I will leave it to others to speculate.
 
Any truth to China trying to back its digital currency with gold?

Trying to sink the US dollar as the reserve
 
Lest we forget. It was back in 1997.The bright sparks down in the vault of our RBA looked at our 247 Tonne horde of the yellow stuff and figured,at $US 335/oz, it was a good time to flog most of it off,leaving just 80 tonnes! To be fair,the gold chart didn't look too promising at the time,but still.......
 
It is a difficult conundrum atm. Gold vs. Crypto.

All the usual nutters who give gold its volatility such as Musk seem to be providing that to crypto.

It would be interesting to know whether crypto could mirror, as gold does, regional significant wars such as Middle East, Taiwan, Balkans, SE Asia or the next Big War between larger powers.

gg
 
This from Brian Cox's now, 10 year old remarkable book. All the gold ever found would only fill about 3 Olympic size swimming pools.Not much compared to the size of the world,eh? That rarity extends further out into our milky way galaxy of a billion stars,where the conditions required to produce very rare elements like gold,only happen about 2 minutes in a century.So there won't be much digging for gold on mars,I suppose.
 
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