Gold Price - Where is it heading?

[Garpal Gumnut]

So what does FMG stand for, F$#@ Me Garpal??
Mick

All the posts where people discuss their piles, breakfasts, interests of no interest to me usually clog up the FMG thread.

They have now migrated to this Gold thread.

I believe my right big toenail needs trimming and that Gold is headed under $USD1900 tonight.

gg

 

[mullokintyre]

All the posts where people discuss their piles, breakfasts, interests of no interest to me usually clog up the FMG thread.

They have now migrated to this Gold thread.

I believe my right big toenail needs trimming and that Gold is headed under $USD1900 tonight.

gg

Hope you are right - about the gold bit I mean.
mick

 

[eskys]

Too many booboo dates this morning, in other threads too....I'm quitting

 

[Garpal Gumnut]

Hope you are right - about the gold bit I mean.
mick

Probably more correct about my right toenail.

If I were a punter I'd be betting on a large retracement in Gold.

gg

 

[eskys]

Gold is neither here nor there atm

 

[Sean K]

Gold is neither here nor there atm

I'd say it's here and there.

You'd expect this zone of support around $1950 ish to perhaps hold it up, well above to 200dma, but with such rapid moves to any news, including GG's toe clipping exploits, who knows.

 

[Garpal Gumnut]

Gold is neither here nor there atm

This is in large part due to the lack of spine by the Sydney cousins tasked with trading Gold during the New York night.

These private schoolboys follow rather than lead, for enormous salaries.

Then again, they may disappear like the Swiss cousins in the snap of a failure.

Tonight will be interesting.



gg

 

[ducati916]

Well that didn't go so well for risk assets. The market had priced in a pivot. When they got a raise, out of the pram came the toys:



Gold higher.

As a side issue, the smaller banks are still under significant pressure as they hold a lot of non UST debt, which is not good collateral at the Fed Window, BTFP, etc.

jog on
duc

 

[Sean K]

Gold's fourth or possibly sixth attempt to go through the $2000-75 ish level. It's either a trigger for selling and taking profit, or if it goes through a risk of FOMO and a significant run. Come on gold, you can do it!

 

[InsvestoBoy]

The last leg up to test 3000 has been a very steep ascent.

To me it's preferable for XAUAUD to rest here and establish some range in the 2800-3000 area if it is to continue higher, or at least a less steep ascent.

Steep moves are the most prone to retracement and failure, in my experience.

 

[DannyB0000]

Gold at $2000 usd now. the banking system in America and Europe is in trouble. Interest rates have risen to steeply. Deutsche Bank looks like it’s in trouble next after Credit Suisse

 

[divs4ever]

Have watched quite a few 'experts' talking about the shift away from USD as the reserve currency for everything. It's hard to see this transition happening overnight, but the BRICs seem pretty keen to follow this up, and obviously when a nation goes to war and the international community can turn off their access to Swift and freeze money in USD accounts then it's a worry for them. I think China will be much better prepared than Russia was before they invade Taiwan. Watch this space.

am thinking a disconnect rather than a transition , maybe a BRICS Curtain instead of an Iron or Bamboo Curtain this time , with MAYBE gold as the intermediate currency between the two economic systems

the other option is someone like Indonesia or Singapore becoming the world's trading exchange ( both commodities and currencies ) ( both neutral and open for business )

 

[divs4ever]

Gold at $2000 usd now. the banking system in America and Europe is in trouble. Interest rates have risen to steeply. Deutsche Bank looks like it’s in trouble next after Credit Suisse

am surprised DB didn't tumble earlier ... too big to 'merge' maybe ?

either prop it or throw it to the international wolves and vultures

another option is get the ECB to swallow it ( and 'restructure' later)

 

[divs4ever]

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

i haven't been buying physical gold recently , only gold producers and other physical commodities , fearing governments will freeze ( and attempt to confiscate ) physical gold under some 'emergency directive '

that doesn't mean i won't swap my commodities for gold or silver in the future ( and stash it in unlikely place )

call me paranoid if you like , but i see the potential for bank withdrawal restrictions , and asset seizures

 

[rcw1]

i haven't been buying physical gold recently , only gold producers and other physical commodities , fearing governments will freeze ( and attempt to confiscate ) physical gold under some 'emergency directive '

that doesn't mean i won't swap my commodities for gold or silver in the future ( and stash it in unlikely place )

call me paranoid if you like , but i see the potential for bank withdrawal restrictions , and asset seizures

Good evening my friend
You need a rum

Kind regards
rcw1

 

[divs4ever]

Good evening my friend
You need a rum

Kind regards
rcw1

good evening

not particularly wise for me , the current medications hit me like two bottles of whiskey a day

however both my parents grew up in the Great Depression and spent their teenage years during WW2 ( in their respective home countries ) so remembered what EACH leader inflicted on their citizens 'in the name of the war effort '

are we heading for a major war ( i am planning , just in case we are )

sleep safely

 

[Sean K]

Gold's fourth or possibly sixth attempt to go through the $2000-75 ish level. It's either a trigger for selling and taking profit, or if it goes through a risk of FOMO and a significant run. Come on gold, you can do it!

View attachment 154895

Tried three times late this week, but each time....

 

[qldfrog]

Tried three times late this week, but each time....

View attachment 154947

Might be self perpetuating. I buy now and put a sell order at 1999..pretty good odds..

 

[mullokintyre]

Nah, eventually the buyers give up and it retreats further.
The final capitulation.
THEN we pile in.
Mick

 

[Garpal Gumnut]

Nah, eventually the buyers give up and it retreats further.
The final capitulation.
THEN we pile in.
Mick

Well I've been all cashed up for a while and await

1. A rise in the USD/AUD
2. A fall in the POG in USD.

Then I'll be in like Flynn and await another attempt to breach $USD2000.

It is done for now.

gg