Gold Price - Where is it heading?

[finicky]

Arresting graphic I saw on twitter

 

[divs4ever]

i would prefer it meandering around like it is currently , but then i am carefully adding gold producer stocks ( i am biased )

 

[Garpal Gumnut]

Gold is being affected by Crypto, of that I have no doubt.

Should the stock markets crash, I would expect Crypto to crash as well as house prices while geopolitical tensions will rise.

Or any combination of the above.

Should this happen I would prefer to hold neither Crypto nor Tulips but gold as punters have done for millennia.

This is pure opinion and sentiment.

There are so many last chance saloon investment entities about atm it is impossible to keep up with them.

Gold will do for me.

gg

 

[divs4ever]

Gold is being affected by Crypto, of that I have no doubt.

Should the stock markets crash, I would expect Crypto to crash as well as house prices while geopolitical tensions will rise.

Or any combination of the above.

Should this happen I would prefer to hold neither Crypto nor Tulips but gold as punters have done for millennia.

This is pure opinion and sentiment.

There are so many last chance saloon investment entities about atm it is impossible to keep up with them.

Gold will do for me.

gg

i think cryptos fate will depend on who has leveraged assets , i know one young player that only trades/swaps cryptos and i would be surprised if he was playing with credit

before the crypto bubble , each crash had a reliable progression those with leverage/debt sold down what they could to resist a margin call/bankruptcy and the most liquid assets sold first , gold was among those assets , and the nervous sold as well into a falling market triggering stop-losses and attracting short-sellers

from what i have seen ( in history books ) on recent crashes the sellers rush for US dollars or what currency their debt is denominated in

( if they have no debt the panic-sellers , well the brave ones , try to buy more stocks somewhere close to the bottom )


( some of the shares i hold might not trade more than six times a year , but i have no leverage so that is fine by me , i am more likely to buy extra than sell )

now sure the crypto game has changed a bit with ETFs betting on crypto futures , but if you hold your cryptos in a cold wallet ( or your gold coins in a shoebox in your wardrobe ) only the dollar value changes and IF you can afford to wait until the dust settles , there might be a silver lining to all that fuss

houses might be the second punch as property doesn't normally sell ( settle ) quickly but the selling might cause the second wave of asset selling as those using the property as collateral will face extra challenges

this all sounds complicated , but if this economy goes pear shaped things are liable to get messy ( very messy )

 

[DannyB0000]

Bitcoin crashed again overnight, down more than 17% $10,000 in 24 hours.

 

[divs4ever]

watch out for sheer trickery since some ETFs are trading using BTC futures ( just like they do with silver )

 

[Telamelo]

US dollar is due for a pullback/correction as overbought stochastics/rsi etc. this in turn should be bullish for Gold imo

 

[Sean K]

First sign of a recovery to me. A break up and higher low.

 

[DaveTrade]

The light blue lines on this chart are Finonacci Time and Price lines. I haven't traded using these lines but I thought I'd post this for interest. As can be seen, time is running out.

 

[Sean K]

The light blue lines on this chart are Finonacci Time and Price lines. I haven't traded using these lines but I thought I'd post this for interest. As can be seen, time is running out.

This short term block of support looks important. If it breaks down then the fib lines might indicate a decent drop. If it holds and bounces, otherwise.

 

[Joules MM1]

New York Times:

BREAKING NEWS
Inflation hit the highest rate in a generation last month. Consumer prices rose nearly 7%, driven by supply chain woes, demand and housing costs.

Friday, December 10, 2021 8:35 AM EST

The rising costs spell trouble for officials at the Federal Reserve and the White House, who are trying to calibrate policy at a moment when the labor market has yet to completely heal from the pandemic.

The risk that price increases could become more lasting is increasing.

 

[DaveTrade]

Update on last post

 

[Joules MM1]

of the opine that we are seeing a concerted effort to shake out players who arrived recently and buying ($xauusd)
the never-ending dip that are betting on a rip north on inflation data



Reuters Business
@ReutersBiz
·
1h

WATCH: The S&P 500 and the Nasdaq tumbled after data showed producer prices increased more than expected in November and ahead of a potential decision on faster tapering from the Federal Reserve this week https://reut.rs/3yp3iCV

 

[Joules MM1]

UK inflation

 

[Sean K]

So, we're dropping down to a key support line now. Will the technical traders buy, or will the big banks/manipulators send it down?

At some point, it has to complete the upward trend after consolidation, as has been spelled out ad nauseam through the threads.

Looks like a H&S could be forming here. eeeek.

Another buying opportunity may unfold, for those who have been stockpiling $$$.

 

[divs4ever]

yes i am thinking they will suppress , suppress and suppress until their currencies have no purchasing power ( but will it result in substantially lower prices in the stacker's hands )

 

[DaveTrade]

 

[Sean K]

It's been a good bounce of that support zone, for the minute. 1835 is going to be tough once again, if it can even get above 1810-15. ??

 

[Garpal Gumnut]

Good posts all.

Once gold takes off it blisters. I wouldn't be surprised to see a Santa rally with the recent surge from $1771.

gg

 

[Sean K]

Failed at first resistance around 1810-15 as expected, but another OK day for goldies. Feeling positive after the bounce off tech support, but it might be shorts at JPM covering their butts too. Aug/Sep double bottom still in for now.