Australian (ASX) Stock Market Forum

Gold Price - Where is it heading?

So you reckon there maybe some heavy lifting involved to get the gold price going up. I think it may be a timing issue, there is a big unknown in the next week with regard to interest rates.
I was thinking if interest rates go up in the US, our dollar will weaken. But having said that, I don't know which way it's heading. 1700 is a long way to fall, so I'm inclined to think this won't happen right now.........all guess work, Dave. What are your thoughts?
 
I was thinking if interest rates go up in the US, our dollar will weaken. But having said that, I don't know which way it's heading. 1700 is a long way to fall, so I'm inclined to think this won't happen right now.........all guess work, Dave. What are your thoughts?
I don't know either mate so I just wait and what happens.
 
I just thought I'd post a 3 mo. chart of Bitcoin BTC with a Spot Gold chart overlaid.

I looked at it to see what effect a rise or fall in BTC or Gold had on the other.

It would appear that Crypto is not affected by the Gold price but that Gold is affected by a fall in Crypto.

Gold will hopefully stay above $USD 1800 and Crypto will crash, then I'll be happy.

When I kneel by my bed tonight I will bother god with a prayer, as if Crypto crashes and Gold keeps on moving up the next test will be $USD 2000


1670988212781.png

gg
 
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