Gold Price - Where is it heading?
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Stockbailx
"Profit Compoundd" Rules
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Tell him he's Dreaming! Not possible given the economic price weigh in. Gold should stay a float, Unless we see the dollar rise in an impossible fashion...He be on the magic mushrooms?
Garpal Gumnut
Ross Island Hotel
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Harry probably has subscriber's who pay him for doomish advice and trades Gold.
If POG does crash to USD$250 you will be knocked over in the rush for people buying it. I'll be out front.
gg
Garpal Gumnut
Ross Island Hotel
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I suppose if everyone is saying POG is heading down, it must be about to go up.
I might buy some more this arvo once I have supervised Švejk cleaning the dust and dirt off the Arnage, detailed inside and restocked the fridges.
gg
I might buy some more this arvo once I have supervised Švejk cleaning the dust and dirt off the Arnage, detailed inside and restocked the fridges.
Gold, silver and copper are ripe for short covering - analysts
Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com
gg
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he's probably done his revised Gold to Silver ratio projections on the assumption that silver is currently where it should be and a ratio of 15:1 is fair ?
Ok did a little digging and he seems to be wrong a lot and losing bets. Can pretty much do the opposite and make bank.
So gold $250 seems to be based on a 1929 style crash and bubble popping. So it's basically asset armageddon.
So gold $250 seems to be based on a 1929 style crash and bubble popping. So it's basically asset armageddon.
Don't like posting these videos but he seems to have called this crash 5 months ago (was it already crashing?) or possibly longer. Seems convinced this is the big one.
Some of his statements are true. But that doesn't mean a lot. Government will still print and he will be chasing his tail again.
Some of his statements are true. But that doesn't mean a lot. Government will still print and he will be chasing his tail again.
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Gold prices did manage to find support last week as the US Dollar pulled back, with Thursday’s false break of 1700 a potential indication of significant demand around this level.I suppose if everyone is saying POG is heading down, it must be about to go up.
I might buy some more this arvo once I have supervised Švejk cleaning the dust and dirt off the Arnage, detailed inside and restocked the fridges.
Gold, silver and copper are ripe for short covering - analysts
Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals priceswww.kitco.com
gg
However, like with all other asset classes this week, near-term direction will likely come down to the FOMC Meeting. With another 75bps rate hike still widely expected, Chairman Powell’s press conference may have a greater impact on markets.
If emphasis is placed on the potential recession risks, the USD could extend its recent pullback and open the door for gold to push higher. Whereas continued focus on getting inflation under control could boost bets on further aggressive tightening, supporting the greenback higher, and, in turn, pushing gold lower.
All trading carries risk, but it should be interesting to see how this all-important week shapes up.
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And obviously, here in oz, the all important test is Gold vs AUD, so fine tuning between Gold in USD, and AUD vs USD.
I gave up trying to forecast these 2...
wayneL
VIVA LA LIBERTAD, CARAJO!
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Important point re exchange rate risk. ?
bluekelah
StockFan
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I think market is hoping for a FED pivot in language this FOMC. After all the technical recession is going to be confirmed on thursday night and FED HAS to ease up on rate rises as they cant really afford high rates with the 30trillion debt load.
Having said that, Janet Yellen did just say there are no signs of recession, thats in the face of negative -1.6% GDPnow data from atlanta FED. lol.... Not sure but they sure are trying to sound as optimistic for as long as possible. Probably trying to stabilise the market for one final sale by their friends and they will start shorting everything on thursday and make a pile.
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or take it and convert it into silver at these high levels of the GSR nudging 93x again
Good evening signalFollower,
Silver in the drawer above. Large safe
Kind regards
rcw
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what will a dollar be worth in 2027 ?? there is every chance a zero or two ( or three or four ) will be lopped of the currency ( ala pre-war Germany )
now if Harry would say an ounce of gold will only buy you a loaf of bread or packet of cigarettes , that is entirely different ( remember 'trillion' is a commonly used word now , unlike in say the year 2000 )
one should always compare gold to the physical goods it can be exchanged for , 1971 broke the peg to currency
BTW all that debt revolving through the global economy has to disappear for a global economy to have a chance to regain a healthy status
( gold is an inert , lifeless metal , that is it's curse and also it's blessing )
Good evening
Gold hits 3-week high: Despite a tough month for gold, dropping to as low as 1682.70, it has gathered strength as it ends the month at 1724.64, rising 2.12 per cent this week
Silver back in the fight: The silver spot price has increased by 5.82% to come to $19.92 USD contradicting last week’s pattern of decline
Have a very nice weekend.
Kind regards
rcw1
Gold hits 3-week high: Despite a tough month for gold, dropping to as low as 1682.70, it has gathered strength as it ends the month at 1724.64, rising 2.12 per cent this week
Silver back in the fight: The silver spot price has increased by 5.82% to come to $19.92 USD contradicting last week’s pattern of decline
Have a very nice weekend.
Kind regards
rcw1
Dona Ferentes
A little bit OC⚡DC
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It's all a mystery to me.... According to some, everyone is buying:
Central banks were net buyers in June quarter, growing global official reserves by 180 tonnes.
Net purchases over the six months totalled 270 tonnes which, when coupled with the 234-tonne inflow into ETFs, helped support gold at prices much higher than they would have been, for all the fears generated by Russia’s invasion of Ukraine in late February.
The WGC said its recent central bank survey saw 25% of respondents said they intended to increase their gold reserves in the next 12 months.
Central bank first half purchases of 270 tonnes were in-line with the five-year first half average of 266 tonnes, according to the WGC.
Turkey was the biggest buyer during the first half, adding 63 tonnes to its gold reserves (32% of total reserves). Egypt was the second largest purchaser in the half, reporting a 44-tonne (+54%) increase in March. The country now holds 125 tonnes of gold, or 21% of total reserves.
In June, the Central Bank of Iraq announced that it had bought around 34 tonnes during the month – its first significant purchase since September 2018 – lifting its gold reserves to just over 130 tonnes
India continued its buying throughout the half, with gold reserves rising by 15 tonnes over this period.
Ireland was another notable purchaser during the first half of 2022, adding nearly 3 tonnes of gold to its reserves during Q1.
The WGC said Ireland was the only active buyer among developed market central banks, although its monthly additions have been modest and no purchases were made in the second quarter; since it began buying gold in August 2021, its total gold reserves have almost doubled. Ecuador also added almost 3 tonnes as well.
Mine production was also solid in the quarter and the half as Chinese production recovered from a number of mine closures in 2021 for safety reasons.
Mine production for the first half of the year hit record highs reaching 1,764 tonnes, up 3% on first six months of 2021.
Production was boosted by some companies mining higher grade deposits and the Chinese mining industry returning to normal output levels after safety stoppages last year. The production data is imprecise as many companies around the world are, at the moment, reporting their June quarter production and sales figures.
Meanwhile gold bar and coin demand remained stable year-on-year at 245 tonnes in the second quarter.
The WGC said “growth in demand came notably from India, the Middle East, and Turkey which helped to balance weakness in Chinese demand that was partially driven by continued coronavirus lockdowns..."
And yet..
Garpal Gumnut
Ross Island Hotel
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It would not surprise me to see Gold go ballistic tonight when it hits NY Nymex and Comex trading.
gg
gg
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yeah I have been studying up and scrutinising the Futures COT's data which is at 52 week highs for both Gold and Silver in terms of the leats shorts (least pessimistic)
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