Gold Price - Where is it heading?

[DaveTrade]

Yes, well, everyone has bought gold during mid last year to last month, The Russian cousins, The Chinese cousins, the Saudi cousins, The Indian cousins and me.

As far as I know I'm the only one to have sold mine.

I believe the buying is over and the price may drift south in $USD and the latter will strengthen.

That is not to say there will not be a quid made out of Gold in $AUD. But it won't be easy.

gg

@Garpal Gumnut you may be right in saying that it's going south, after all it is in a downtrend at the moment. I don't know because I rely on reading what the market is doing in real time for my final opinion. What I can see right now is strong short-term momentum to the upside and that makes me think that a trend change here is possible, which, by the way, would continue the longer time frame up trend.

 

[Garpal Gumnut]

@Garpal Gumnut you may be right in saying that it's going south, after all it is in a downtrend at the moment. I don't know because I rely on reading what the market is doing in real time for my final opinion. What I can see right now is strong short-term momentum to the upside and that makes me think that a trend change here is possible, which, by the way, would continue the longer time frame up trend.

I'd agree @DaveTrade

I'm calling $USD1600-1650 soon and a recovery in the $AUD via a rise in the $USD/AUD as instability begins to hit the US with less than 18mo. to go before the Bronze Loon says he was cheated out of a win again.

It will be a good opportunity to load up on PMGOLD...

That is if Perth Mint can resist putting too much Silver or Moon Water in to the bar.



gg

 

[explod]

For me GG, good pub on the corner too.

Not advice and I have no connection.

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Buy gold bullion in Melbourne from the most reputable gold bullion dealer - Sell gold bullion for the highest price, instant quotes and payment - Since 1948.

www.goldbuyersmelbourne.com.au

 

[DaveTrade]

That is if Perth Mint can resist putting too much Silver or Moon Water in to the bar.

Could be a supply shortage in Silver because Perth Mint is using all up in their Gold bars.

 

[Telamelo]

Gold price $ higher overnight

 

[ducati916]

Turkey, suffering hyper-inflation of the paper currency:



jog on
duc

 

[mullokintyre]

Turkey, suffering hyper-inflation of the paper currency:

View attachment 154151View attachment 154150

jog on
duc

Wonder where they bought it from, and how did they pay. In USD?
Mick

 

[Belli]

There may be gold down there but it looks like it cost too much to dig it out.

"The operator of Ballarat's last remaining gold mine has gone into administration after a string of setbacks in production.

The company has appointed Hall Chadwick to oversee the administration process.

Singapore-based company Shen Yao Holdings owns Balmaine Gold, which employs about 200 people."

Ballarat gold mine operator enters administration after production setbacks

Ballarat's last operational gold mine, Balmaine Gold, has gone into administration and appointed accounting firm Hall Chadwick to oversee the process.

www.abc.net.au

 

[InsvestoBoy]

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.

I came to gloat after looking briefly at the chart this morning, but not yet.

Get those 1 min charts out

Initiate gloating process...

I have found that 2-3 year resistance tops are irrelevant
No one, as far as I know leaves their Sell orders on for 2-3 years and becomes a resistance

You think this line is irrelevant?

Back above the irrelevant line.

Early in the month for a monthly chart but that's where the line is...

 

[DaveTrade]

Back above the irrelevant line.

@InsvestoBoy that line is mostly irrelevant because Gold is priced in US Dollars, that's the international standard at the moment.

 

[InsvestoBoy]

@InsvestoBoy that line is mostly irrelevant because Gold is priced in US Dollars, that's the international standard at the moment.

When you are going to patronise someone it's important not to be ignorant. https://en.wikipedia.org/wiki/Triangular_arbitrage

 

[DaveTrade]

When you are going to patronise someone it's important not to be ignorant. https://en.wikipedia.org/wiki/Triangular_arbitrage

I think you are patronising me not the other way around, I stand by my statement.

 

[Garpal Gumnut]

Well there you go.

I may have to change my mind about Gold falling, having lost a considerable profit since in $AUD by jumping ship 2+ weeks ago.

It's a joke, eh.

gg

 

[Telamelo]

Well there you go.

I may have to change my mind about Gold falling, having lost a considerable profit since in $AUD by jumping ship 2+ weeks ago.

It's a joke, eh.

gg

 

[Captain_Chaza]

What I meant By " Irrelevant" is that Age Old Tops would be sliced though like Butter

From the Oxford

adjective

1. "not connected with or relevant to something"
   "an irrelevant comment"
   "Immaterial"
   "Not Pertinent"
   
   As you can see below in the chart
   The Price of Gold in AUD sliced through that Conceivable Resistance Like Butter last night in NY
   
   • But in REAL DOLLARS ie: US $
     Gold still has a long way to go before we worry about previous tops

Salute and Gods' speed

Crikey ?
We might soon have Captain Sean tripping over to the Perth Mint and asking for $1000 $10,000 etc etc AUD Gold Coins

 

[rcw1]

Good morning
What's impressing rcw1? Gold up $67 in the last 33 hours ?...
Yeah!!

Have a great week

Kind regards
rcw1

 

[Sean K]

Good morning
What's impressing rcw1? Gold up $67 in the last 33 hours ?...
Yeah!!

Have a great week

Kind regards
rcw1

One impressive bounce off that 1800 level.

 

[rcw1]

Gold is good.

kind regards
rcw1

 

[Telamelo]

Gold is good.

kind regards
rcw1

Gold shot up another +$48 tonight & AUD Gold price almost @ $2,900!

 

[Sean K]

Gold shot up another +$48 tonight & AUD Gold price almost @ $2,900!

View attachment 154307

ATHs breaking through $2800.

I wish our Aussie gold stocks were doing the same... still in the toilet really. :-(