Gold on the cusp of a really big move up ? perhaps so according to below from 8:03 onwards
Gold Price - Where is it heading?
- Thread starter guycharles
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Hope that the lad, hasn't 'jinxed' us mate ...
butttttttttttttttttttttt .... certainly liked what rcw1 heard though, nice...Kind regards
rcw1
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Aussie gold price hits all-time high:
Sean K
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Garpal Gumnut
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Very nice.
Onward and up.
gg
Onward and up.
gg
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Lol went to make a coffee & toast.. came back & gold already shot up to AUD $3,093 ?
Just a low liquidity short squeeze between COMEX close and Tokyo open, to run stops above 3020, I reckon.
Nothingburger. All the drooling on here proves it
Shanghai was happy to sell it.
Probably time for me to rebalance out a bit and buy some equities with the difference, maybe I will buy something utterly unloved like commercial realestate REITs.
Garpal Gumnut
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Sometimes I see a post which makes me feel sad and sorry for the poster and their sad little life.Just a low liquidity short squeeze between COMEX close and Tokyo open, to run stops above 3020, I reckon.
Nothingburger. All the drooling on here proves it
Shanghai was happy to sell it.
View attachment 156634
Probably time for me to rebalance out a bit and buy some equities with the difference, maybe I will buy something utterly unloved like commercial realestate REITs.
Just that, nothing else.
This is one of them.
gg
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Sean K's got a crease in his thighs from sitting on the edge of his seat - get a life Sean.
Sean K
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Too busy with the popcorn. ?
Garpal Gumnut
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Don't feel sorry or sad for me GG, have a happy life, I'm happy, I just post the chart and call the droolers how I see 'em, been working for me since my first gold sovereign in October 2008.
Have a nice day.
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Oil and energy are the critical component (cheap energy) in driving the world economy. US shale oil provided 90% of the marginal growth in supply. That model is dead.
OPEC+ are no longer going to store oil revenues in UST due to the inflationary losses. They are storing them in gold.
So as the oil/energy markets are x15 larger than the gold market and gold production is limited to what is mined, the only way that gold can accomodate the x15 oil/energy market is through a x15 price increase.
Of course the US (via JPM) will fight that price increase as they did in 1968 and the Gold Pool. Again as occurred in 1968 they will fail. Last time it was the French that broke it on the margin, this time Russia/China et al (BRICS+) will/are breaking it.
Debt is at all time highs world wide.
The US weaponised the USD against China. The plan being that China would run out of USD before the US would be killed by its own deficits. Which is why China moved to price energy in Yuan. China no longer needs as many USD to balance its Balance of Payments trade accounts. Therefore the US will break long before China does, even though China is very highly leveraged also. Which of course means that Powell pivots again. Highly inflationary, which is another tailwind for gold.
There is a massive deflationary force on the horizon which is AI. But that is another story.
The paper price means jack on gold and oil.
jog on
duc
OPEC+ are no longer going to store oil revenues in UST due to the inflationary losses. They are storing them in gold.
So as the oil/energy markets are x15 larger than the gold market and gold production is limited to what is mined, the only way that gold can accomodate the x15 oil/energy market is through a x15 price increase.
Of course the US (via JPM) will fight that price increase as they did in 1968 and the Gold Pool. Again as occurred in 1968 they will fail. Last time it was the French that broke it on the margin, this time Russia/China et al (BRICS+) will/are breaking it.
Debt is at all time highs world wide.
The US weaponised the USD against China. The plan being that China would run out of USD before the US would be killed by its own deficits. Which is why China moved to price energy in Yuan. China no longer needs as many USD to balance its Balance of Payments trade accounts. Therefore the US will break long before China does, even though China is very highly leveraged also. Which of course means that Powell pivots again. Highly inflationary, which is another tailwind for gold.
There is a massive deflationary force on the horizon which is AI. But that is another story.
The paper price means jack on gold and oil.
jog on
duc
Sean K
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GLD monthly break to ATHs. ?
Weekly high at $1.91 not far off. ?
AUD POG another ATH hitting $3110.
I'm not sure if there's going to be profit taking around here for some well needed consolidation or run away FOMO kicks in.
Weekly high at $1.91 not far off. ?
AUD POG another ATH hitting $3110.
I'm not sure if there's going to be profit taking around here for some well needed consolidation or run away FOMO kicks in.
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I offloaded a few yesterday. Locked in some profits.
My earlier AUD $3,600 Gold call definitely on track with 7 months still remaining in 2023
P.S. I know @InsvestoBoy last time I said this you replied to me saying "Dude.."
P.S. I know @InsvestoBoy last time I said this you replied to me saying "Dude.."
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Tonight's session on the NYSE is critical for me, unfortunately we're going into the weekend so if it does start to pullback then it will have a free run over the weekend before I can get to it. I'm in the miners (GDX) and it still looks good to me but a guy that I respect is saying that GDX could pullback to $30. That's trading for you, I can hold for the long run as I have a very long term options position but I like to also trade the short term swings but the market has hit resistance just at the start of the weekend so I'm hoping it doesn't pull back right now.
Sean K
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It's at another tipping point on that mythical long term C&H that if broken to the upside runs to $2700 ish. Might all depend on whether JPM is long at the moment.
Good evening DaveTrade
Just sitting back watching the footy, Sea Eagles v Broncos. 50 077 people packed into Suncorp Stadium, great stuff. Sport is alive and well in Queensland.
If something is going to happen it will be on the weekend - Murphy's Law ...
and cannot do a thing about it ... ):Luv to know why your mate is suggesting that GDX could pull back to $30, of course anything is possible, who would know for sure... but, rcw1 don't think so, cannot foresee that happening anytime soon, Crystal Ball methodologies cloudy but positive ...
Have a very nice weekend.
Kind regards
rcw1
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