Gold Price - Where is it heading?

[aus_trader]

Not sure if you guys noticed, somethings a little odd though...

Normally Gold strengthens on the back of a weakening US dollar. Just look at the USD weakening while the POG rose in the last couple of months (see below charts). But in this occasion, they are moving up together !

 

[ducati916]

Not sure if you guys noticed, somethings a little odd though...

Normally Gold strengthens on the back of a weakening US dollar. Just look at the USD weakening while the POG rose in the last couple of months (see below charts). But in this occasion, they are moving up together !

View attachment 151195

View attachment 151196

Which indicates that the end game for the USD is fast approaching:



Money supply (growth) has turned negative. This drives liquidity issues. Demand for the USD rises. Paradoxically, a rising USD indicates that the liquidity crisis draws closer. The only way to alleviate the liquidity crisis is to reverse and create huge numbers of USD, which of course destroys the USD.

Those that understand are moving to safety: Gold & Silver.

The Central Banks have been doing so for some time.

jog on
duc

 

[rcw1]

Good morning

GOLD Strategy Today JANUARY,3TH| XAUUSd latest Analysis Today| XAUUSD Forecast Today #trading #fx​

Onwards and upwards 1855 -1920 US; according to this author, well then, here's hoping ...
Personally, irrespective of these comments made most excited about gold prices northerly direction, have been so for some time now.
Like everything in this game, prices go up and prices go down ...

Interesting times, hopfully everybody get to fulfil their 2023 goals in making coin.
Have a very nice day today.

Kind regards
rcw1

 

[InsvestoBoy]

Wow what a daily bar.

View attachment 150542

No squeeze!

Todays session high is also the opening price, meaning not a single offer in the global OTC book was lifted.

In a sense, I am happy about this.

It's been interesting journey since that "wow" daily outside bar, resolving in last night's crazy move where gold was up and the AUD got smoked and it all seemed to happen so fast during the London session before NY opened. COMEX didn't bring any willing sellers at all.

I think we could test the 2766 monthly closing swing high from Jul/Aug 2020 and it'll be interesting to see what happens when we get there.

Let's see what happens I guess. Before last nights action, it still seemed like the wall of supply between ~2600-~2700 that capped the price for all of 2022 was intact. Anyone who has gold to sell in AUD would be laughing at these prices, an absence of supply here sends its own message.

 

[Garpal Gumnut]

It's been interesting journey since that "wow" daily outside bar, resolving in last night's crazy move where gold was up and the AUD got smoked and it all seemed to happen so fast during the London session before NY opened. COMEX didn't bring any willing sellers at all.

I think we could test the 2766 monthly closing swing high from Jul/Aug 2020 and it'll be interesting to see what happens when we get there.

Let's see what happens I guess. Before last nights action, it still seemed like the wall of supply between ~2600-~2700 that capped the price for all of 2022 was intact. Anyone who has gold to sell in AUD would be laughing at these prices, an absence of supply here sends its own message.

View attachment 151211

That is a positive looking chart for Gold in $AUD.

However I would still exercise some caution for those new to accumulating Gold ( I've been since the early 1980's and in differing currencies depending on where they have washed me up ) and am well ahead.

I prefer to look at the Gold chart in $USD, and it looks as if it will eventually convincingly break $USD 1850 and upwards to 2000 or even 3000 this year.

Small events can change the supply of Gold though. An example is @peter2 's pick of GCM over the last 2 months. It is a graphene/graphite outfit and I like graphene but the buggers are drilling perilously close to some of my stashed Gold on the Barkly. I may have to wake Švejk up and get him to drive me in the Arnage through some floodwaters over that way and dig some bar up. The last thing I want is some half wit assayer to assay some of my bar and cause both @peter2 and my stake in GCM to rocket at my expense.

Also I am not too sure how long ole Joe Biden has got left on the coil and the crooner Kamahl will spook every market known to god and man when he/she gets in. ( How did an Aussie crooner become VPOTUS ?? ). I don't like to be ageist but really, if Ole Joe came looking for a job at the Hotel he'd be lucky to get a job as a yardman and even then we'd have to insert a GPS in to him in case he wandered off.

Finally remember that supply and demand for Gold is largely hidden. In Croesus' day he cornered the market. However the cousins in Russia, Saudi, China and US Hedge Funds and Fed these days could change the balance instantly.

Nonetheless I remain optimistic.

gg

 

[Sean K]

This has been a pretty good run through some significant resistance points after the triple bottom last Sep/Oct. Nice rounded bottom on the GDX continues to climb the right hand of the cup.

 

[againsthegrain]

That is a positive looking chart for Gold in $AUD.

However I would still exercise some caution for those new to accumulating Gold ( I've been since the early 1980's and in differing currencies depending on where they have washed me up ) and am well ahead.

I prefer to look at the Gold chart in $USD, and it looks as if it will eventually convincingly break $USD 1850 and upwards to 2000 or even 3000 this year.

Small events can change the supply of Gold though. An example is @peter2 's pick of GCM over the last 2 months. It is a graphene/graphite outfit and I like graphene but the buggers are drilling perilously close to some of my stashed Gold on the Barkly. I may have to wake Švejk up and get him to drive me in the Arnage through some floodwaters over that way and dig some bar up. The last thing I want is some half wit assayer to assay some of my bar and cause both @peter2 and my stake in GCM to rocket at my expense.

Also I am not too sure how long ole Joe Biden has got left on the coil and the crooner Kamahl will spook every market known to god and man when he/she gets in. ( How did an Aussie crooner become VPOTUS ?? ). I don't like to be ageist but really, if Ole Joe came looking for a job at the Hotel he'd be lucky to get a job as a yardman and even then we'd have to insert a GPS in to him in case he wandered off.

Finally remember that supply and demand for Gold is largely hidden. In Croesus' day he cornered the market. However the cousins in Russia, Saudi, China and US Hedge Funds and Fed these days could change the balance instantly.

Nonetheless I remain optimistic.

gg

wow u been holding gold as long as I have been alive, I guess being a very LT holder there is no price range that you would sell it all at? I guess its like money in the bank dig out a withdrawal when you need one.

I am just a young punk to the game holding 1 or perhaps 2 kg for last 2-3 years but if the prices were to double it would be very hard not to sell, at least half

 

[ducati916]

Possibly an under-appreciated headline:



Which of course also means eliminating UST as a reserve asset.

The Saudi's are also playing this game:



Again, under-appreciated.

While (most) eyes are on the Ukraine, the currency war goes largely un-reported. It is the currency war that will have the greatest repercussions for the little guy unless of course the hot war goes nuclear.

jog on
duc

 

[Sean K]

TA discussion on POG from 14.37.

 

[Roller_1]

does anyone here use Commsec and buys a Gold ETF? Someone asked me and I don’t use commsec but was curious what people use

 

[Sean K]

does anyone here use Commsec and buys a Gold ETF? Someone asked me and I don’t use commsec but was curious what people use

Most brokers should allow you to buy gold ETFs. Check the PMGOLD and GOLD threads for more info.

 

[rcw1]

does anyone here use Commsec and buys a Gold ETF? Someone asked me and I don’t use commsec but was curious what people use

Good morning Roller_1,
Twice. thrice now in 48 hours, people will talk ha ha ha ha ha

yes

What is an Exchange Traded Fund?

2017.12.12 - Find out more about the benefits and risks of an ETF

www.commsec.com.au

How to buy and sell ETFs with CommSec

If you’re looking for a tool to help you choose an ETF, you can try the CommSec ETF Screener. Once logged in, click on “Quotes & Research”, followed by “Tools” and then “ETF Screener”. From here, you can browse ETFs by asset class, region, market cap, and sector.

Before you invest in a particular ETF, you should research the fund, read the PDS and make sure you understand the potential risks. If you have any questions, contact your financial adviser.

In terms of buying and selling ETFs, the process is much the same as buying or selling shares. Simply log in to your online trading account and place an order.

Have a very nice day, today.

Kind regards
rcw1

 

[DaveTrade]

 

[Roller_1]

people will talk ha ha ha ha ha

Thanks he got the info he needed. I wasn't sure of commsecs offerings.

Cheers

 

[Sean K]

I remember $1850 was a critical level some time ago where we thought it was a break out point. That might have been about a year ago...

Interesting USD gold and EURUSD correlation. What happens when USD appreciated again...

USD indexes all up around 2%, hopefully a good day for gold stocks on Monday.

 

[Telamelo]

Overnight saw a strong rally! Gold looks headed back up to re-test US$2,000 level again imo

 

[eskys]

Our dollar now over 69 cents. To be precise, it's 69.08 and gold up $12 at 1881.60..............going places today........

 

[Sean K]

Our dollar now over 69 cents. To be precise, it's 69.08 and gold up $12 at 1881.60..............going places today........

Strong correlation between various currencies and USDPOG.

 

[aus_trader]

All the local Gold stocks in my watchlist were up today, Resolute Mining Ltd (RSG) by a lot...

 

[ducati916]

Gold



Wait, there's more!

Mr McLeod:

Macleod - This Is The Word Out Of Asia As Gold Price Approaches $1,900 - King World News

Today London analyst Alasdair Macleod spoke with King World News about what he is being told by his contacts in Asia as the price of gold approaches the $1,900 level.

kingworldnews.com

The rise of gold into a hiking environment from the Fed. is/was the signal that a huge surge from gold is on the cards.



The ETFs are actually selling gold as the price rises. This is the exact opposite of how they 'should' operate. It is more easily seen with silver.



It is also happening with gold.

Simply, the BBs responsible for suppressing the 'paper price' need to hold as much physical as possible to contain the leverage. With CBs buying so much, Russia and the Saudi's pushing oil for gold, the physical is fast disappearing and needs to be supplemented from the ETFs that hold physical. Hence, as the price rises, sales of physical from the ETFs will also rise.

jog on
duc