Gold Price - Where is it heading?

[over9k]

NZ also has a lot of doomsday houses/bunkers owned by the uber rich too. It's their literal societal collapse plan.

It'd be mine too (or tasmania).

 

[bux2000]

and is guarded by anorexic looking Pākehā.

SSSSSSSH he is not your average looking NZ Security Guard, but probably makes sense it is next to Burger joint .....He will need to grow into his job.

bux

 

[againsthegrain]

SSSSSSSH he is not your average looking NZ Security Guard, but probably makes sense it is next to Burger joint .....He will need to grow into his job.

bux

There is nothing to guard no gold just a decoy, secret sauce for the burgers is the real hidden treasure there ok

 

[bux2000]

NZ also has a lot of doomsday houses/bunkers owned by the uber rich too. It's their literal societal collapse plan.

It'd be mine too (or tasmania).

I must admit I find this subject quite fascinating when you hear who floats in and out on a regular basis.

bux

 

[Sean K]

Back over $1880 but having trouble breaking $1900.
Downtrend broken and upward momentum continues.View attachment 124671

Interesting how gold stocks precipitated this. March was the bottom.

 

[rederob]

$1900 back on the table, with more to come...

 

[Garpal Gumnut]

$1900 back on the table, with more to come...
View attachment 124880

Yes, it does look bullish.

Every Elon and his Doge will be jumping their ship and in to GOLD as a safe haven.

I am strapped in for the ride.

gg

 

[rederob]

Yes, it does look bullish.

Every Elon and his Doge will be jumping their ship and in to GOLD as a safe haven.

I am strapped in for the ride.

gg

Next level of resistance is at $1962 (which did not fit on to my chart this morning).
Over the past few years these bullish uptrends have run nicely for periods up to 3 months before consolidation, so we may have another month more here.
Also, if traders recently got burnt with cryptos then they might prefer to dabble back into the safer haven of gold.
By the way, the correction in POG last year was not precipitated by Bitcoin's parabolic rise, as there was a gap of a few months between POG's descent and Bitcoin's ascent, as shown below (note that RHS and LHS scales are different to emphasise this point):

https://www.tradingview.com/x/pOaWAtQm/

 

[Garpal Gumnut]

I would not however be surprised @rederob if there is not a small retracement.

Remember the Chinese and Indian cousins are out of New Year and Religious Festival time yahooing. The latter are more riven by Covid and more concerned with offloading gold for protection and oxygen.

The DXY also seems to have some legs.

gg

 

[Bik]

Hi all, I made a video about all the factors that seem to be coming together for Gold (& Silver) which could send prices rocketing. I would really appreciate any subscribes to my YouTube channel as this would this would help me while I'm trying to set it up.



Gold price is holding right around the US1900 which is positive in my opinion and sets it up for a potential clear breakthrough of that resistance level.

 

[over9k]

Not trying to be awful but I ain't watching a 20 min vid on this. You got a short version?

 

[rederob]

Just over a year ago POG added over $250 in under 3 weeks before heading into a downtrent that ended on 31 March this year.
I have never been a fan of parabolic rises as the inevtable retraces tend to get nasty.
Since April we have seen a steady and sustainable return of POG towards its former high.
On the chart below you can clearly see the slope of lat year's trend was so much steeper than the current trend. The present trend suggests $2000 is achievable in July.


What we don't have yet is a period of consolidation. So I for one will be very happy if POG hangs around $1900 for a good while longer.
I suspect after watching @Bik's video that he is more optimistic.
This thread goes back almost 16 years and some of us posting to it now were around in the early days, so we have a good recollection of POG's ups and downs.
Right now POG's ingredients for further price rises cetainly look promising. I just don't want to see a repeat of last year's frenzy.

 

[Joules MM1]

Chart Image

www.tradingview.com

am short two PM's tonight*, this one needs to break the "most recent pullbacks" to give a hint we area bout to retest the low, maybe break the channel

def a quip in their, Scovid!

 

[Joules MM1]

Chart Image

www.tradingview.com

xauusd, enough done, price hits base of the channel and stops, makes for a decent long entry and an uncle point
local $xgd components on the coinbanking knee jerk, plenty of froth in local goldies

looks like standard fare atm, 1855 front month contract needs to hold (where the channel base falls apart)

 

[frugal.rock]

Have noticed the XGD whipsawing circa up to 4%
I had speculated with pog heading up so hard last year, every man and their dog were going to do their best on extracting it from the ground.

Long term mothballed projects were looked at and restarted where easy and possible while new projects and production ramp ups were the norm.... perhaps we are seeing the inevitable supply overcoming demand?

Don't want to be a pessimist, just looking at reality.

From keeping tabs on our agriculture sector, farmers are positive and getting massively better grain crops, underlying moisture levels are good and they are all seeding more than usual.
Markets displaced by China have found new homes and prices have well recovered.
They just need the good conditions to continue later in the year.
Can't eat gold... well you can, just get fancy poo's though. ?
Food for thought.

 

[Joules MM1]

current BTO
#observation

Chart Image

www.tradingview.com

 

[rederob]

Blues were on the money with a record winning margin last night.
Shame it hasn't filtered through to POG.

Anyway, sitting nicely on trend and consolidating within 1% of $1900, so just need to be patient!

 

[wayneL]

Keep an eye on the debt market and DXY for a lead into medium term gold trajectory... And of course the case for AUD dumpage is good for Aussie gold holders.

Disclaimer: Long both gold and silver on a HODL basis.

 

[sptrawler]

Keep an eye on the debt market and DXY for a lead into medium term gold trajectory... And of course the case for AUD dumpage is good for Aussie gold holders.

Disclaimer: Long both gold and silver on a HODL basis.

Question, if the world does decide on a universal crypto currency, to replace the Fiat system,could the gold standard come back?
The issue is, ATM gold is historically linked to the $US reserve currency, would it be valued up or down if it became the standard for a universal crypto.

What Is the Gold Standard? History and Collapse

Learn more about the gold standard, including its complicated global history and its connection to the fiat system and the U.S. dollar today.

www.investopedia.com

Just musing

 

[wayneL]

Question, if the world does decide on a universal crypto currency, to replace the Fiat system,could the gold standard come back?
The issue is, ATM gold is historically linked to the $US reserve currency, would it be valued up or down if it became the standard for a universal crypto.

What Is the Gold Standard? History and Collapse

Learn more about the gold standard, including its complicated global history and its connection to the fiat system and the U.S. dollar today.

www.investopedia.com

Just musing

It's London to a brick that there will be a *digital* reserve currency. I don't think it will be a crypto in the true sense though. Gold will simply tie to that, whatever is.

A Gold standard? Well it makes sense to the Austrians. But usefull to whatever central bank has control of the reins?

Dunno.

In that situation will gold be valuable to we schlepps?

Again, dunno. But I doubt that would be useful to the central bankers... So my best guess is probably less so than now.

I realise that's pretty pessimistic, but the reptiles in charge of things don't fill me with a great deal of confidence that they have our best interests at heart.