Garpal Gumnut
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Gold Price - Where is it heading?
- Thread starter guycharles
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- gold gold price
It's in investing.com
Today's graph looks like upside down icicles, sharp points and lots of them......I tried to copy and paste the graph but it didn't work. I've never seen it like this and had a hard time trying to work out what this meant. Obviously good, cos the share prices have gone up today.
Day's range:
Day's Range1,926-1,945.95
This is the technical for gold at this moment.
Technical Summary
| Type | 5 Min | 15 Min | Hourly | Daily | Monthly |
|---|---|---|---|---|---|
| Moving Averages | Strong Buy | Strong Buy | Strong Buy | Strong Buy | Strong Buy |
| Technical Indicators | Strong Buy | Strong Buy | Strong Buy | Strong Buy | Strong Buy |
| Summary | Strong Buy | Strong Buy | Strong Buy | Strong Buy | Strong Buy |
Garpal Gumnut
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This is traditionally a good time of year for Gold.
All the Indian and Chinese cousins are out yahooing and celebrating Religious Festivals and New Year Holidays and buying gold jewellery.
It may not seem like an important aspect of the Gold market compared to US Funds, Fed, Cousin Putin's haemorrhoids and fear of knuckler war but if every 20th Indian and Chinese cousin buys a piece it all adds up. There are quite a lot of Indian and Chinese cousins, approaching 2bn I'm told.
gg
Just saw your post re investing.com, I don't use it but will have a look sometime this evening.
gg
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The intraday charts show a nice bounce from near 1900, which seems to have been fuelled by the USD’s reversal after wage inflation data came in soft. It will be interesting to see what sort of move tomorrow’s Fed meeting inspires.Gold finished up strongly overnight @US$1,944
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Timing of the next move is the issue, the market still seems undecided at the moment, may be waiting on interest rate decision as @CityIndex mentioned.Gold price backtested US$1,900 level earlier this evening only to bounce back up again now @ $1,923 .. equates to AUD$2,738
Meanwhile, with situation sadly escalating in Ukraine - think we'll see Gold moving higher during 2023 imo
Garpal Gumnut
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Unfortunately I have to disagree atm.
Bitcoin has been much more resilient since my good friend Kevin O'Leary, a fellow horologist, nearly lost most of the right leg of his pants in the FTX kerfuffle.
Kevin, his friends and big funds have managed to move BTC impressively to around $22 when I was expecting it to crash.
Gold has been the victim, with much funny money and other ill-gotten gains associated with war having gone in to crypto rather the yellow metal. This is a worldwide phenomenon with so many wars, arms trading, evasion of sanctions and other malfeasance.
Even many colourful characters in property in Sydney and Melbourne, cricketers, TV identities and other rich bogans ( and wives and girlfriends and wives , and I say that advisedly ) are getting back in to BTC, I am told.
The recovery in Gold recently mirrors that of BTC and I must admit, barring a complete destruction of BTC, I'll be selling a good proportion of Gold once it peeps over $USD2000, no matter what the AUD/USD is doing.
It was all so much easier years ago. Nobody ever had to say :
gg
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The Central Banks know:
That gold is the answer to the issue:
jog on
duc
That gold is the answer to the issue:
jog on
duc
Garpal Gumnut
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Thanks @ducati916
I would agree that Central Banks ( Good Actors ) are buying Gold in large quantities.
However Bad Actors traditionally have played a significant role in the buying and selling of Gold. And thus its price.
These now use Crypto for its supposed untracability, although I am told Exchequers worldwide are chasing crypto transactions down more efficiently.
gg
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When gold rises into rising rates...you know the bull is real:
jog on
duc
jog on
duc
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If the US dollar keeps falling below 1$ it should keep the bullish trend intact for Gold.
Garpal Gumnut
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Thanks @ducati916
I do wish BTC would crash and be done with it.
This move for Gold looks like a consolidation at $USD1950 with a decent conversion to aussie $AUD2743.
I do like greed and fear.
I may hold on to all my Gold depending on momentum through $USD2K.
gg
I do wish BTC would crash and be done with it.
This move for Gold looks like a consolidation at $USD1950 with a decent conversion to aussie $AUD2743.
I do like greed and fear.
I may hold on to all my Gold depending on momentum through $USD2K.
gg
Sean K
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I wouldn't dig up your stash till $2400, GG. Then we buy the RIH.
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