Gold Price - Where is it heading?

[Garpal Gumnut]

Just hold on to your horses.

It is going to be a bumpy ride, not counting currency AUD/USD which will make it even bumpier.



gg

 

[mullokintyre]

Most of my gold stocks down today.
WAF down 5%, SSR down 4%, Tie down 5%, despite the increase in gold since last Fridays close.
Methinks that the Big Banks will have had their instructions from the FED to bring in the paper shorts and cause a sell down of gold in US tonite.
Mick

 

[CityIndex]

Most of my gold stocks down today.
WAF down 5%, SSR down 4%, Tie down 5%, despite the increase in gold since last Fridays close.
Methinks that the Big Banks will have had their instructions from the FED to bring in the paper shorts and cause a sell down of gold in US tonite.
Mick

The current decline in gold seems to be coming from a rotation out of safe-havens, with riskier assets, like equities, rallying on news of a potential Biden-Putin meeting this week. If it begins to look like a more diplomatic solution can be reached, the precious metal might be at risk of a significant pullback.

However, reports suggest that the meeting has only been agreed by Biden in principle, subject to Russia not invading Ukraine before then. With gold prices hovering just below 1900, if the potential for a peaceful agreement does breakdown, we could still see a strong rally above this key resistance level.

All trading carries risk, but it will be worth keeping an eye on gold as the situation develops.

 

[eskys]

Most of my gold stocks down today.
WAF down 5%, SSR down 4%, Tie down 5%, despite the increase in gold since last Fridays close.
Methinks that the Big Banks will have had their instructions from the FED to bring in the paper shorts and cause a sell down of gold in US tonite.
Mick

US not trading tonight, as far as I know, Presidents Day

 

[Sean K]

The current decline in gold seems to be coming from a rotation out of safe-havens, with riskier assets, like equities, rallying on news of a potential Biden-Putin meeting this week. If it begins to look like a more diplomatic solution can be reached, the precious metal might be at risk of a significant pullback.

However, reports suggest that the meeting has only been agreed by Biden in principle, subject to Russia not invading Ukraine before then. With gold prices hovering just below 1900, if the potential for a peaceful agreement does breakdown, we could still see a strong rally above this key resistance level.

All trading carries risk, but it will be worth keeping an eye on gold as the situation develops.

Now the winter olympics rock show is over China will start buzzing Taiwan again, so we may have two things to worry about. I wouldn't be surprised if that was the deal Vlad and Xi agreed on before the olympics. Just hold off until we get the last ski bunny off the pistes.

 

[stanwell]

Now the winter olympics rock show is over China will start buzzing Taiwan again, so we may have two things to worry about. I wouldn't be surprised if that was the deal Vlad and Xi agreed on before the olympics. Just hold off until we get the last ski bunny off the pistes.

Unless Taiwan does something to provoke it, China is not ready to have any action against Taiwan any time soon. Both Xi and US senior military officers (past and present) openly said it.

China will only take over Taiwan when it's chip industry can survive boycott and it's economy can live without the west. Not yet.

 

[Sean K]

Unless Taiwan does something to provoke it, China is not ready to have any action against Taiwan any time soon. Both Xi and US senior military officers (past and present) openly said it.

China will only take over Taiwan when it's chip industry can survive boycott and it's economy can live without the west. Not yet.

Agree, but they can start doing a lot of other stuff to Taiwan short of storming the beaches. May not provide the same excitement as 150,000 Russians at the border though.

 

[ducati916]

Central Banks have a permanent bid under gold:



jog on
duc

 

[DaveTrade]

GLD is still showing upward momentum but it is entering a resistance zone coming from the Jan '21 gap so in the absence of some external stimulus I would expect some reaction in this zone.

 

[Sean K]

Disregarding the end of the ski bunny displays, geopolitics and inflation/interest rate excuses for gold movement, I still keep USD1850 POG as the break up point and short term support. If it consolidates between 1850-1900 and develops a base between these levels I will be happy.

 

[DaveTrade]

It's actually easier to see what is happening in the gold market via the silver market

I thought it was interesting how the SLV market was reacting to the 200 day SMA, so for interest, have a look;

 

[signalFollower]

I thought it was interesting how the SLV market was reacting to the 200 day SMA, so for interest, have a look;
View attachment 137985

this is also a good read with commentary from mltiple Analysts, covering both Gold and Silver

https://www.lbma.org.uk/articles/forecast-survey-2022

 

[signalFollower]

this is also a good read with commentary from mltiple Analysts, covering both Gold and Silver

https://www.lbma.org.uk/articles/forecast-survey-2022


View attachment 137987

with my investment in Antilles Gold (AAU) I've found myself reading up quite a bit onGold and Silver prices / trends / sources of demand etc etc etc

 

[rederob]

Just posting this chart for the record:

As can be seen, POG has risen $133 since 28 January, so its ascent has been strong.
With the likelihood of Russian issues muddying global markets over coming weeks it's reasonable to think POG should continue its uptrend for a while yet. Jumping its next hurdle will signal a push to recover its previous record high and continue.
But as always, it's a choppy ride getting there.

 

[CityIndex]

Gold prices are surging past $1920 with safe-haven assets rallying on reports that Putin has authorised a special military operation in Donbas.

Could we now see the rally extend to to the $1950/60 resistance zone as the market braces for the potential economic and political consequences that may follow?

All trading carries risk, but this is definitely going to be worth watching heading into the end of the week.

 

[rederob]

Gold prices are surging past $1920 with safe-haven assets rallying on reports that Putin has authorised a special military operation in Donbas.

Could we now see the rally extend to to the $1950/60 resistance zone as the market braces for the potential economic and political consequences that may follow?

All trading carries risk, but this is definitely going to be worth watching heading into the end of the week.

Yep - POG got a speeding fine for not slowing down at $1920:

It's just settled down a tad from $1926 but the big action usually happens around NY opening times, so let's see what they reckon.

 

[Sean K]

CNN reporting live that there's bombs dropping near Kiev.

 

[gartley]

My Long Term EW 2c worth on POG. Presently tracing out wave 5 of 5 with a potential terminus @ around 2550 upper parallel TL. Remembering ofcourse that wave 5's in PM's being fear based should result in blue wave 5 being extended and the longest wave.

Having said that, if wave 5's in PM's are usally extended then the question begs will it go a lot higher than that as red wave 5 itself may result in an extension?!

 

[mullokintyre]

So now there is actually a real crisis on our hands, with the possibility that large chunks of the world are at war, its educational to look at what is happening to those assets that people turn to in times of crisis.
Gold seems to be the sset class of choice.
Mick

 

[Garpal Gumnut]

If one goes to the Kitco.com site for the POG Charts one sees this interesting table on the RHS of the page.


Once the 30d percentage increase becomes > 6m percentage increase in POG it is hang on to your hat time. It has been approximating and when it crosses over hang on to your hat.

gg