Gold Price - Where is it heading?

[rederob]

What a difference a weekend makes!
Up $20 at open, and has now tailed off a tad as noted on the 15 minute chart below:

No doubt at all that gold is now finding itself as the asset to own in a crisis.

 

[Sean K]

Gold bugs rejoice.

But, there's got to be a correction at some stage. Maybe when Russia calls a cease fire and they go to the negotiation table for how much of the eastern side of Ukraine they keep.

$2070 should be the next stop.

 

[DannyB0000]

Gold $2000 usd now, just checked CNBC now, hopefully stays there for while. Exciting time for Goldies.

 

[DannyB0000]

Gold $2000 usd now, just checked CNBC now, hopefully stays there for while. Exciting time for Goldies.

Gold $2000 usd now, just checked CNBC now, hopefully stays there for while. Exciting time for Goldies.

Gold up 1.7 % in Asian trade

 

[rederob]

As you can see from the weekly chart below, the long term trend from 2015 nadir still has the present high price comfortably in range:

To break above the present trend would put POG above 2100.
I know some chartists will soon weigh in so let's see what fibonacci's and EWs suggest where the price is heading.

 

[Garpal Gumnut]

As you can see from the weekly chart below, the long term trend from 2015 nadir still has the present high price comfortably in range:
View attachment 138703
To break above the present trend would put POG above 2100.
I know some chartists will soon weigh in so let's see what fibonacci's and EWs suggest where the price is heading.

Thanks @rederob

The POG in $AUD imo is due to retrace a bit before the next big move. It has been in a more consistent uptrend than POG/$USD.

As to your chart.

On EW W1. 2017-218
W2. 2018
W3. 2018-2020
W4. 2021

W5. 2022 Has begun. Either a monster or a modest gain similar to W1.

gg

 

[mullokintyre]

I have taken a few profits on my gold shares today.
Still have shares in a number of them, but have sold most recent purchase that were bought between 10 and 15% below these levels.
The recent run up will retrace at some point , and I will buy back in.
Mick

 

[ducati916]

Clowns at LBMA



So with physical gold under tremendous pressure, the LBMA restricts further physical supply. The leverage is going to rise causing a dislocation in price...gold moves higher.

Which we saw today. The Bullion banks tried to tamp this morning, silver took a bit of a hit but gold just powered higher despite paper selling.

jog on
duc

 

[Telamelo]

Well waking up seeing Gold at US $2,002 equates to AUD Gold price $2,731 makes my morning coffee so much more enjoyable lol

Still holding all my regular Goldie's OGC, SLR, TUL, RED and RMS

Cheers tela

 

[bsnews]

The hard part will be when to sell. last time I had profit I failed to take it.
Will this time be different? I hope so but not yet for me.
I am in
EVN
NST
RRL shame here I got in at the high.

 

[Garpal Gumnut]

I'll be looking at more Gold when it retraces to $AUD 2669.

Don't ask me why, I believe I maybe did it on a retracement of a trend line of PMGOLD yesterday. For some reason that number sticks in my tiny hindbrain.

Bitcoin is very resilient and if it survives this year I may follow or invest. Otherwise I'm waiting for it to go to c**p when Gold will carry on to $AUD 3000+

I don't have the ability to chart gold in $ USA.

gg

 

[ducati916]

Some data:



So the COMEX is seeing an increase in Hedge Funds going long. This will be in contradistinction to the BB who (as we saw this morning) will be increasingly short on the COMEX.

They will (the BB) be long in the spot market via GLD etc. The reason being that they can use the unallocated GLD etc, physical as collateral on their COMEX short position as per Basel III NSFR requirements.

The 'thing is', that the actual gold bullion bought in the spot market can be made deliverable in the future, it possibly cannot be taken delivery of today, as there isn't sufficient gold available (certainly this is true of silver).

They can still however use the promise of future delivery to fund NSFR ratios.

Except that now the LBMA is not accepting Russian gold as 'good delivery'. China never exports its production.

In the Repo. markets:



We have another blow-up building. Banks having moved from $1T/overnight reverse-repo (too much cash) to not enough cash currently. Another liquidity crisis in the eurodollar market might only be days away.

A major Chinese bank couldn't make margin payments on the Nickel debacle this morning.

Pressure is building everywhere in the system.

jog on
duc

 

[DannyB0000]

I'll be looking at more Gold when it retraces to $AUD 2669.

Don't ask me why, I believe I maybe did it on a retracement of a trend line of PMGOLD yesterday. For some reason that number sticks in my tiny hindbrain.

Bitcoin is very resilient and if it survives this year I may follow or invest. Otherwise I'm waiting for it to go to c**p when Gold will carry on to $AUD 3000+

I don't have the ability to chart gold in $ USA.

gg

Try bullionvault.com. You find a gold chart at this website including Silver. You can download the app as well if you want

 

[rederob]

Below is a 5-minute chart for gold since yesterday. It looks more like a daily price chart over the past 6 months, given the trading range is over $70:

Looks like oil and gold are taking turns to make new near term highs.

 

[Garpal Gumnut]

Below is a 5-minute chart for gold since yesterday. It looks more like a daily price chart over the past 6 months, given the trading range is over $70:
View attachment 138787
Looks like oil and gold are taking turns to make new near term highs.

It looks as if my plan to buy some more Gold is just that, a plan. Gold seems to be on a tear.

$USD 2022 last time I looked.

No point in being greedy waiting for a retrace to $AUD 2669, I've got enough.

Although we are heading in to the London cousins trading session and they usually take profits and it falls.

gg

 

[rederob]

It looks as if my plan to buy some more Gold is just that, a plan. Gold seems to be on a tear.

$USD 2022 last time I looked.

No point in being greedy waiting for a retrace to $AUD 2669, I've got enough.

Although we are heading in to the London cousins trading session and they usually take profits and it falls.

gg

I know @peter2 was very disappointed in gold's trajectory last year, so I wonder if he saw this one coming and caught a ride.
I am very overweight gold and sold nothing since adding more in 2020. I realise I could have traded the ups and downs in between times but day to day POG is unpredictable.
And while you only posted minutes ago, POG is back down to $2006.
See what I mean!

 

[mullokintyre]

And Gold up another 1% to AUD2761.
Will it break 2800?
Will it keep going so I finally break even on DCN?
Exciting times!
Mick

 

[Garpal Gumnut]

I know @peter2 was very disappointed in gold's trajectory last year, so I wonder if he saw this one coming and caught a ride.
I am very overweight gold and sold nothing since adding more in 2020. I realise I could have traded the ups and downs in between times but day to day POG is unpredictable.
And while you only posted minutes ago, POG is back down to $2006.
See what I mean!

Those poms are thieving b*****ds.



gg

 

[Sean K]

Those poms are thieving b*****ds.

View attachment 138793

gg

does this happen at every single open? ?

 

[Garpal Gumnut]

does this happen at every single open? ?

No @Sean K , but at some stage during that session it happens more often than not. Or if not, more often than chance compared to other sessions.

I've looked at some way to profit from it, but it is beyond me. Slippage would cruel me.

Let me know if you have any ideas.

gg