Gold Price - Where is it heading?

[Telamelo]

For anyone interested in ASX options - I suggest the following

https://www.ozstockstats.com/company-option/all/

 

[divs4ever]

I don't trade options either, divs, goodnight

good luck , and happy dreams

 

[sptrawler]

I think a lot of people are banking on gold becoming a standard to underpin currencies again, what I wonder about that is, how do you compensate countries that dont produce gold and regulate those that do?
I think with computer technology today a fiat system tied to digital currency is more likely, but just my thoughts.

 

[divs4ever]

if i had gold or silver , i would be using it as a parallel ( or supplement ) to a barter system

what if they can't keep the power supply reliable ( try using digital currency but only in ' off-peak hours ' )

 

[divs4ever]

Andy Schectman warns Mike Adams: The dollar DIES when energy exporters ABANDON the petrodollar status

https://www.brighteon.com/34fd03ad-5aeb-42aa-ae78-c697872a6830

a wide-ranging video , touches on several currency ( and crypto ) topics

 

[qldfrog]

I think a lot of people are banking on gold becoming a standard to underpin currencies again, what I wonder about that is, how do you compensate countries that dont produce gold and regulate those that do?
I think with computer technology today a fiat system tied to digital currency is more likely, but just my thoughts.

Why compensate?
Does not really matter if you produce gold or not..
Work creates gold from mining there but the next country will barter(buy) that gold against fish, computers, cars..whatever.
No change from current situation

What a gold back currency creates is a currency system which is representative of your actual economic output.
You can not hide a basket case economy behind an historical or political pretence..aka USD Euro current situation
Having local gold mines does not change anything as long as the metal market is open.

 

[noirua]

20 May 2022

 

[Garpal Gumnut]

Due to the present pandemic and need for so many bits of apps and paper to travel from Townsville to Davos, not to mention all the waiting in First Class Lounges, I have decided to forego that fest of fools and instead meditate on the markets, particularly commodities, and gold especially.

The big problem that I have with gold is that I am sure it will go well above $US2000 oz, but the problem is when.

Now we are in a time of war, pestilence, plague and famine in many parts of the world. These factors throughout history have necessitated rulers to dip in to their treasuries for Gold to pay for arms, men and equipment to vanquish their foes and rob their treasury in turn.

Gold is in limited supply, I am told one swimming pool full, which I find hard to believe, but it is rare, moveable, buryable ( is that a word ? ) and I am told fungible ( whatever that means ? I thought it only applied to mushrooms ).

Some of the machinery of war that I see getting blown up on twitter costs upwards of $100m. Each one. That is a lot of deficits to run up and of course arms suppliers do not work on debt.

So there will be a transfer of gold from the battling nations and their allies to the arms making nations, and on down the chain.

I reckon we are about 25% through this war, with a good amount of arms to be bought and sold and some treasuries about to increase supply to pay for it. There being only one swimming pool for these budgie smuggling nations to dip in to or out of, it would appear to this simple soul that the price will appreciate.

So the rise in POG will be soon.

So I am buying more.

btw. If you should ever get an invite to Davos avoid the Hotel Waldhuus. The last time I was there it was a tad damp, it caters for children which is a nono for me, and it is too far to walk to the action and one must wait forever for a taxi. The Hard Rock Hotel is best.

gg

 

[Garpal Gumnut]

On the chart above I can see little resistance at $USD1900, but some at $USD1950. After that it is anybody's guess. $USD2000 as a number will resist some.

Downside if there is a miracle and nations and people start practising their Godbothering chants and tropes and behave with some couth towards each other, $USD1775-1825 looks like a reasonable base.

Although the AUD/USD will play some havoc with profits or losses for Aussie buyers in $AUD.

gg

 

[mullokintyre]

Some of the machinery of war that I see getting blown up on twitter costs upwards of $100m. Each one. That is a lot of deficits to run up and of course arms suppliers do not work on debt.

So there will be a transfer of gold from the battling nations and their allies to the arms making nations, and on down the chain.

gg

You might be better buying the likes of Raytheon, Boeing, and Lockheed Martin.
They will be the major beneficiaries of the $40bill emergency war package for Ukraine.
Mick

 

[signalFollower]

the data continues to show that funds keep flowing into the bullion backed ETPs and therefore the ounces of bullion held per precious metal is on the increase

I for one, beleive this is inidicative of the wider investment community and their desire for bullion so that equates to demand increase and taking supply out and into storage

 

[signalFollower]

this is quite an interesting and clear interview from Stansberry Research

 

[divs4ever]

You might be better buying the likes of Raytheon, Boeing, and Lockheed Martin.
They will be the major beneficiaries of the $40bill emergency war package for Ukraine.
Mick

no joy with BIS ( in the tipping this month ) i would have thought armor-plating+ steel would have at least kept me in positive territory

 

[divs4ever]

this is quite an interesting and clear interview from Stansberry Research

yep , and that is why i like gold and gold stocks , less sharks it that pool

 

[Student of Gann]

Gold update containing three important turning dates extending out towards the end of June . If we continue moving higher we could see counter trend Top into the 30th May then down till the X June where main Low is indicated then back up till the X June for another Top . I have calculated three important prices to watch and if we continue to move higher and the market demonstrates that it is setting up for Top into the 30th May we should be able to refine these targets down further .
Complete Forecast available at studentofgann.com.au
Student of Gann twitter

 

[signalFollower]

thoughts ?

to me this suggests we're at the inflexion point where businesses and households will start to soon feel the effects of interest rates and any contractionary effects to flow on from that

except this time, there's a stack more debt being held by most participants

 

[qldfrog]

thoughts ?

to me this suggests we're at the inflexion point where businesses and households will start to soon feel the effects of interest rates and any contractionary effects to flow on from that

except this time, there's a stack more debt being held by most participants

View attachment 142166

If IR are high,why not move to cash?
Gold after all is just a lump of metal and does not return anything.
The real issue is trust.
Trust in government and their fiat currencies.
I personally have lost that trust and so am a gold bull, but if the average punter is believing there is a good vs evil war in Ukraine, is lining up for his 4th covid shot and believe that he will solve CC by driving an EV as he is being told..then gold will fall or underperform.

 

[rederob]

I think a lot of people are banking on gold becoming a standard to underpin currencies again, what I wonder about that is, how do you compensate countries that dont produce gold and regulate those that do?
I think with computer technology today a fiat system tied to digital currency is more likely, but just my thoughts.

An EM pulse - whether nuclear or solar - can remove the "1" from crypto currencies' digital 0 and 1 logic structure, so that they have zero value, and return to the crypts whence they came.
For that reason alone sovereign nations need tangible "stores of wealth" to ensure they can ride through the most dire situations and have a credible means of financing trade at every level.

As to where gold is headed, we see the medium term trend (back to March 2021's low) fully intact as bullish:

However, mid-February's breakout returned to earth a fortnight ago and needs to maintain plus$1850s if we want follow through momentum.
Clearly pandemic issues affecting global supply chains, chip shortages, high oil prices, inflationary pressures, global food insecurity, and a war in Ukraine that seems to be settling-in, are throwing more spanners into the works that can be accounted for in diving POG's future.

 

[signalFollower]

If IR are high,why not move to cash?
Gold after all is just a lump of metal and does not return anything.
The real issue is trust.
Trust in government and their fiat currencies.
I personally have lost that trust and so am a gold bull, but if the average punter is believing there is a good vs evil war in Ukraine, is lining up for his 4th covid shot and believe that he will solve CC by driving an EV as he is being told..then gold will fall or underperform.

this one touches on systemic manipulation and mistrust of the Federal Reserve, Frank Giustra also goes on to give his views of gold prices longer term - interesting

 

[Student of Gann]

If we get counter trend Top into the 30th May the three key price levels to watch are 1879 1882 and 1894 . After this point trend should continue down into the X June where main Low is indicated .