Gold Price - Where is it heading?

[ducati916]

From Zoltan Poszar



Internationally the arguments for gold's fundamentals are compelling.

jog on
duc

 

[Sean K]

I went to bed thinking $1950 ish had been shored up as a base....

Maybe there's something wrong with Trading Economics charting software.

Kitko might be a slightly better look...

 

[Sean K]

I went to bed thinking $1950 ish had been shored up as a base....

Maybe there's something wrong with Trading Economics charting software.

Kitko might be a slightly better look...

View attachment 157688

View attachment 157689

The TE chart is wrong, closed at $1947, still a $30 drop, but still around that $1950 support level which is OK.

 

[Telamelo]

Excellent article below well worth a read

https://www.mining.com/web/gold-revaluation-the-hidden-motive-behind-central-banks-gold-buying/

 

[rcw1]

Excellent article below well worth a read

https://www.mining.com/web/gold-revaluation-the-hidden-motive-behind-central-banks-gold-buying/

rcw1 enjoyed that read bloke. Nice one.

... Long story short, it can’t just be a coincidence that global central banks are buying this much gold, at the current pace, at a time when they’re making significant losses. Putting 2 and 2 together, we can conclude that a gold revaluation must be at least in the minds of central bankers, even if they don’t/can’t say it publicly ...

Gold is good.

Kind regards
rcw1

 

[Sean K]

Excellent article below well worth a read

https://www.mining.com/web/gold-revaluation-the-hidden-motive-behind-central-banks-gold-buying/

I wonder what our CB is doing/has done recently.

I think I remember they sold a truck load in the late 90s when gold was at about 300 bucks...

 

[wayneL]

I wonder what out CB is doing/has done recently.

I think I remember they sold a truck load in the late 90s when gold was at about 300 bucks...

Haha, only surpassed by Gordon Brown who flogged off tons at just over $250

 

[noirua]

Gold Price Forecast: XAU Steady Amid Weaker Dollar, Fed Rate Decision Looms

Steady gold prices amid weaker dollar and Fed rate uncertainty, with interplay of dollar, supply chain dynamics, and inflation shaping future.

www.fxempire.com

 

[noirua]

Episode 86 - Master Investor Sector Focus: Going for Gold 2023 - Master Investor

Listen to the Master Investors podcast episode #86 with Harry Anagnostaras-Adams, Charlie Morris, Alexander Scanlon, Natalie Bellis and Mark Child.

masterinvestor.co.uk

This is a UK based website.

 

[ducati916]

Another member of OPEC+ to trade in Yuan with China and settle in Gold:



jog on
duc

 

[DaveTrade]

This support zone is holding, so far, I'm waiting, waiting for a break to the upside.

 

[Sean K]

This isn't looking good for a pop up, IMO.

But, it's been so volatile, who knows.

 

[InsvestoBoy]

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.

down nearly 8% off the high, the post that got me blocked by the Gumnut for daring to say people were drooling over the price in early May.

Glad I rebalanced at the time.

 

[Captain_Chaza]

down nearly 8% off the high, the post that got me blocked by the Gumnut for daring to say people were drooling over the price in early May.

Glad I rebalanced at the time.

Welcome to the club
I was also blocked by the Gummut for similar thoughts at the end of the Cinderella year a few years back for GOLD
I just thought he had either did an Elvis and Left the building and then after a while I concluded he must have gone to heaven and done a James Dean
It was months and months later that I deducted that he had me Blocked!
Naturally
I Blocked him Back and his Supporting crew as well and it's the best thing I ever Did on any forum
It makes me feel really Good!

Salute and Gods' Speed

 

[eskys]

Gold down 1.09% but EVN only lost 2 cents, what's up?

 

[rcw1]

Gold down 1.09% but EVN only lost 2 cents, what's up?

A big hello to @eskys (Keyes).

EVN recently reported mine life extensions for Ernest Henry and Mungari mines, also a debt restructure. Market, as it does, forgot about that and has lost that gain. But overall yes, doing good, a far cry from 2 bucks a share not so long ago.



Have a very nice day, today eskys.

Kind regards
rcw1

 

[eskys]

Thank you, rcw1. I haven't been following gold for a couple of months....will keep a watch now.

Hope you're well and that your shoulder is good.

You have a great day too, rcw, take care.

 

[Telamelo]

Gee whiz almost back down to AUD$2,800 level

 

[Sean K]

Gee whiz almost back down to AUD$2,800 level
View attachment 158219

I was worried that I'd missed the boat on buying more physical gold in AUD. Another chance.

 

[Telamelo]

I was worried that I'd missed the boat on buying more physical gold in AUD. Another chance.

Any idea if gold close to bottoming yet ? Could it drop below AUD$2,800 ? as I'm bottom fishing around here? lol