Perhaps 4th time lucky if we do at cracking US$2,100+?
Gold Price - Where is it heading?
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Sean K
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It's off to the races if that happens. There might be another pause, a peek through, test and then .... You'd want to catch that move very early, or be set before hand.
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GLD is now trading above it's 50day SMA but has been moving sideways in the same price zone that it was churning in back in late May early June. On a positive note, it is making higher lows and higher highs as it moves up. A close above 184.5 would be a breakout from this price zone and signal more upside.
Sean K
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LOL. Fell 40 bucks in a couple of hours on NY opening.
(Kitco News) - Gold prices are solidly lower and hit a two-week low in midday U.S. trading Thursday. Silver is down sharply, too. Modest overnight gains in both metals were erased after the release of upbeat U.S. economic data this morning that beat market expectations. August gold was last down $27.10 at $1,943.00 and September silver was down $0.645 at $24.325.
U.S. economic data Thursday morning fell squarely into the camp of the monetary policy hawks, suggesting at least one more interest rate hike may be necessary to further cool the U.S. economy and choke off problematic price inflation. The first estimate of second-quarter U.S. gross domestic product came in at up 2.4%, year-on-year, which beat market expectations for a rise of 2.0%. The internals of the GDP report were also solid. Meantime, U.S. durable goods order were reported up 4.7% in June versus expectations for a 1.5% gain. Also, weekly U.S. jobless claims came in lower than expected. The data sharply boosted the U.S. dollar index and pushed U.S. Treasury yields up—both of which are daily bearish elements for the precious metals markets.
(Kitco News) - Gold prices are solidly lower and hit a two-week low in midday U.S. trading Thursday. Silver is down sharply, too. Modest overnight gains in both metals were erased after the release of upbeat U.S. economic data this morning that beat market expectations. August gold was last down $27.10 at $1,943.00 and September silver was down $0.645 at $24.325.
U.S. economic data Thursday morning fell squarely into the camp of the monetary policy hawks, suggesting at least one more interest rate hike may be necessary to further cool the U.S. economy and choke off problematic price inflation. The first estimate of second-quarter U.S. gross domestic product came in at up 2.4%, year-on-year, which beat market expectations for a rise of 2.0%. The internals of the GDP report were also solid. Meantime, U.S. durable goods order were reported up 4.7% in June versus expectations for a 1.5% gain. Also, weekly U.S. jobless claims came in lower than expected. The data sharply boosted the U.S. dollar index and pushed U.S. Treasury yields up—both of which are daily bearish elements for the precious metals markets.
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Geez, for all the political problems that the US has, the race issues, the gender issues, the neocons issues, the Trump supporter issues, a deeply divided society etc etc, it is still the most productive economy going around.
everyone else is on the slide, but they manage to keep on going.
For all its faults, Capitalism still seems the least worst option for running an economy.
Mick
everyone else is on the slide, but they manage to keep on going.
For all its faults, Capitalism still seems the least worst option for running an economy.
Mick
You forgot to add/mention drug dealers, corruption etc.
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Conservatives are a problem in the U.S? They're the solution.
Garpal Gumnut
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Quite a fall on Economic Data which was well flagged.
Worth remembering that for the future.
Sorry to interrupt the FMG thread LOL.
gg
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Hasn't it shown to be pointless by now - trying to read the daily or even weekly gold price chart? Everyone who's exposed knows the nasties can paint it any time they want with intrinsically worthless paper contracts. They can't let something simple and incorruptible rule the cesspool of the current power structure in the U.S
(switches off portable microphone)
(switches off portable microphone)
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GLD still in the zone in which it's been moving sideways. The latest heikin-ashi candle has printed a red body with no upper wick, the interpretation of this candle is momentum to the downside, we'll see what happens in tonight's session. There was a lot of volume last night (not shown) so it may go lower.
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Gold increasingly tied to energy. Energy is moving higher.
jog on
duc
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Could be trouble
Don't jinx us goldbugs lol
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If GLD breaks down tonight then I think it's going down to that 177 zone. I am hoping it will hold this level but I think that tonight will be telling.
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@Telamelo thanks for putting this guy's video up, I think that this guy knows what he is taking about and comes across as a genuine person that is trying to help people.
Garpal Gumnut
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No recent posts.
Gold must be due for a spurt in $AUD.
I may buy some bar today.
gg
Gold must be due for a spurt in $AUD.
I may buy some bar today.
gg
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This video is basically a sales pitch but it talks about the future of Gold.
the Fed's most recent bombshell decision.
the Fed's most recent bombshell decision.
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