Garpal Gumnut
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Gold has fallen towards $USD 1625 but in the Aussie it is ...
gg
gg
Gold Price - Where is it heading?
- Thread starter guycharles
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It's coming:
So in a week where CBs buy 400 tonnes of gold, a CB stating that it is the backstop (revaluation) to a default, rather lets you know where you should be placing some of your hard earned.
If, and probably when, debt has to be backstopped by gold reserves, on a global basis, you are looking at $50K/oz. Outrageous? You may think so, but this is just how much piss taking western governments have engaged in for the last 40yrs.
jog on
duc
So in a week where CBs buy 400 tonnes of gold, a CB stating that it is the backstop (revaluation) to a default, rather lets you know where you should be placing some of your hard earned.
If, and probably when, debt has to be backstopped by gold reserves, on a global basis, you are looking at $50K/oz. Outrageous? You may think so, but this is just how much piss taking western governments have engaged in for the last 40yrs.
jog on
duc
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Momentum is turning up for GLD so now would a good entry long for an aggressive trader, but in view of overhead resistance zones nearby and volatility in the markets at the moment, a more conservative trader may choose to wait for confirmation before going long. The first retrace after confirming strength to the upside would be a safer bet.
Sean K
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I’m in two minds, especially because a lot of other metals spiked. Could be just a commodity bear rally, or something fundamental is about to change. Perhaps a swing to risk is on. China needs to reopen for general metals to restart. Not sure if gold is trading independently to that narrative after one good day.
Garpal Gumnut
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We will need to wait and see. Everything points to a proper rally, CB's buying, short covering of paper gold, etc.
The "experts" say that $USD 1735 will be resistance and this is borne out by @DaveTrade 's chart.
I'm comfortable atm. I took out a 10% holding as an insurance policy in Gold on the total value of my SMSF earlier this year and it's just about even steven in $AUD atm. This is apart from my private bar holdings.
( taps head to touch wood ).
Yeh, so, no worries atm.
However crazy times.
gg
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Gold surges 50 bucks.
the question is why?
Is it the capitulation by the paper scammers?
Is it a precaution ahead of US midterm? (thats Kitcos idea not mine).
Is it a FOMO response to some fat finger trade?
Is it because bigger traders see retail buyers and CB's hoovering up gold like there is no Tomorrow?
Is it because the non western countries and their CB are going to release a digital international reserve currency backed by gold?
Is it a right wing terror plot to destroy the US government?
Is it a left wing plot to destroy the US government?
Is it all of the above.
I am open to further suggestions.
Mick
the question is why?
Is it the capitulation by the paper scammers?
Is it a precaution ahead of US midterm? (thats Kitcos idea not mine).
Is it a FOMO response to some fat finger trade?
Is it because bigger traders see retail buyers and CB's hoovering up gold like there is no Tomorrow?
Is it because the non western countries and their CB are going to release a digital international reserve currency backed by gold?
Is it a right wing terror plot to destroy the US government?
Is it a left wing plot to destroy the US government?
Is it all of the above.
I am open to further suggestions.
Mick
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@mullokintyre sometimes it's easy to see why the market moves sometimes no so easy, The backbone of my trading philosophy is focusing on reading what the market is doing within the environment that it's currently in. There usually are numerous opinions as to why it moved or will move so I try to just focus on the facts that I can see in front of me.
Good morning
For mine, demand in light of the US political landscape. The question is where did the demand originate from??
Kind regards
rcw1
Sean K
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Switch from crypto.
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If Cpi comes in hot again on Thursday night Gold could drop again. Don’t think Central Banks are done raising interest rate just yet.
Don’t get me wrong I like the current trajectory of gold prices, but it could be temporary move higher.
Don’t get me wrong I like the current trajectory of gold prices, but it could be temporary move higher.
H
Hope not as been patiently waiting for "Gold price to rocket to the moon" so to speak... would love to wake up one morning & see that Gold shot up $1K lol
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I still think we have more down side yet.
No where near enough blood has been spilt to convince me to put a lot off money back on the table.
As the man at live traders said, when BTC hits 13,00 and tesla sits at 150 bucks, then we may have exhausted the markets.
Mick
Garpal Gumnut
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Where is Gold going to next?. A refrain from all posters.
I have absolutely no idea to be honest what with the $USD, Ukraine, Fed, Russian Oil, China, Taiwan, US House and Senate elections, MAGA, The Democrats, De Santis, Old Boy Biden ( the Democrats really don't deserve to win a toad race at the old Airlie Beach hotel for picking him), Trump, Putin and all the other F-wits leading major nations in very troubled times.
The 3 month chart looks hopeful for a breakthrough $USD1735 which will put $USD1800 within reach and then all the experts will be looking for $USD100 jumps through $USD2000.
I doubt if it will collapse down to or below $USD1600.
So, my guess is UP or RANGE.
gg
I have absolutely no idea to be honest what with the $USD, Ukraine, Fed, Russian Oil, China, Taiwan, US House and Senate elections, MAGA, The Democrats, De Santis, Old Boy Biden ( the Democrats really don't deserve to win a toad race at the old Airlie Beach hotel for picking him), Trump, Putin and all the other F-wits leading major nations in very troubled times.
The 3 month chart looks hopeful for a breakthrough $USD1735 which will put $USD1800 within reach and then all the experts will be looking for $USD100 jumps through $USD2000.
I doubt if it will collapse down to or below $USD1600.
So, my guess is UP or RANGE.
gg
No one knows where gold is heading but looking good for now is good enough for me. I'm not brave enough to make a call........the world looks like a scary place to me........I'm holding tightly to my retarded money.....
Have a kind of a wind fall today. Was back at our stone cottage and saw a patch of unmowed grass. Thought it very odd of the gardener to miss a patch under the apricot tree, I went to investigate....lo and behold, a swarm of bees.......heading back tonight with my brother and his gear to scoop our honey bees (hope they haven't flown since I left them)...........have a great evening, everyone. May gold shine again tonight.........please.
Have a kind of a wind fall today. Was back at our stone cottage and saw a patch of unmowed grass. Thought it very odd of the gardener to miss a patch under the apricot tree, I went to investigate....lo and behold, a swarm of bees.......heading back tonight with my brother and his gear to scoop our honey bees (hope they haven't flown since I left them)...........have a great evening, everyone. May gold shine again tonight.........please.
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