Gold Price - Where is it heading?

[Captain_Chaza]

So quiet I can hear a pin drop.

Seems to me that everyone has fallen out of love with their Pet Rocks

Go Figure?
Love is so fickle!

 

[eskys]

A tricky situation with our dollar and rising yields. It's trading at 6 month low or more....what do you say? Stay out or ?

You gonna have a day off tomorrow? It's a public holiday in Vic, Captain.

 

[Captain_Chaza]

A tricky situation with our dollar and rising yields. It's trading at 6 month low or more....what do you say? Stay out or ?

You gonna have a day off tomorrow? It's a public holiday in Vic, Captain.

Did you ever know me to Set Sail in the Face of a Storm on a Friday ?
I have been there and done that
It is Not a good Tack IMHO

 

[eskys]

eskys said:


Seems to me that everyone has fallen out of love with their Pet Rocks....did I say that? Naughty me.

Thanks for your reply, Captain......I was starting to succumb to the glittering charm....not in, but will keep an eye on it....have a lovely long weekend, hope the weather holds.

 

[InsvestoBoy]

On a very short term market structure basis, I feel that 2912-2925 is critical support, inability to hold that zone in context of the medium term pattern of the last 6 months, is negative.

View attachment 161045

blugh.

 

[Sean K]

Geesh, POG is testing my patience, but the longer it curls sideways the more explosive the move - up

Sideways for 3 years now. How much longer can it trace between $1650 and $2050...

Maybe once US Fed stops raising rates or actually lowers them, weakening the USD, we'll have our time in the sun.

There's been opportunities with individual stocks along the way but a few of the juniors have really struggled with the rising costs and harder to get debt to keep drilling.

 

[DaveTrade]

World Class Financial and Commodity Analsyis from Gann Global Financial

Gann Global’s stock market forecasting and commodities trading insight has helped thousands to enter and exit trades profitably; daily stock market forecasts

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[InsvestoBoy]

blugh.

This blugh brang me no joy.

I would say initial support starts here in a zone down to 2862 or so, but the price action has the hallmarks of indiscriminate dislodging out of a vault, historically those kind of moves have gone on for some time...

I was pretty much at my portfolio weight around 3000 so slowly becoming underweight as this carries on, got to decide when to next rebalance.

 

[noirua]

 

[noirua]

08-25-2023, 09:53 AM#1
aberdeen

Hope for the best but prepare for the worst​

Over the many years I have been investing in gold and silver, I have come to the realization that anything good or bad can happen at any time so it's best to be prepared for disaster. I wouldn't be surprised if within the next month (or even week) that silver crashes to fifteen an ounce and that gold goes to 1500. My gold mining fund could easily decline 20% or more from here. The broader stock market - Why not another Great Depression where the market crashed almost 90%? Will the government nationalize my mining and global resource funds? Again, why not? Will they attempt to outlaw or even confiscate my gold and silver coins? I really wouldn't be surprised at anything that happens. I am not leveraged on any of my investments, so even if the prices go way down I know that it will be temporary and I might even be able to pick up more coins and shares on the cheap. What are your worst case concerns?

https://gold-forum.kitco.com/newreply.php?do=newreply&p=2796826

 

[noirua]

 

[divs4ever]

GOLD PRICE FORECAST 2023 - SATORI TRADERS​

a BRICS settlement currency is my thinking , say an annual trade settlement in gold bullion ( and actually delivered to the national reserve bank ) this i suspect might not be so cumbersome as many nations would try to balance their trade balance (more likely try for a small surplus rather than a deficit )

( China already encourages direct swaps of goods between trading partners )

 

[Telamelo]

Somewhat surprised by recent weakness in Gold price as didn't expect it to dip as much as it has done so (on strengthening USD & ongoing inflationary pressures).

Perhaps a blessing in disguise/yet another opportunity to load up on precious metals here imo

 

[divs4ever]

Somewhat surprised by recent weakness in Gold price as didn't expect it to dip as much as it has done so (on strengthening USD & ongoing inflationary pressures).

Perhaps a blessing in disguise/yet another opportunity to load up on precious metals here imo

am watching , watching , watching at worried it is a sign of liquidation of 'winners by those who use a lot of leverage

the other answer could be Fed/Treasury trying to scare investors into bonds

but can you take physical possession at those prices ??

 

[wayneL]

If my macro thesis plays out, Gold has a lot more downside, but then a ton of upside from there. (Am a holder at various prices from $1200's.

Apart from a 1oz Krugerand I've had for 41 years

 

[Sean K]

Is there any hope that the past week's pause is actually a longer term pause and potentially a floor?

What do we need for a reversal?

 

[DaveTrade]

Is there any hope that the past week's pause is actually a longer term pause and potentially a floor?

What do we need for a reversal?

GLD is at an important level IMO, I think that it needs to hold this level to stay long term bullish. On the daily time frame it has a lot of work to do in order to turn around it's down trend but it is oversold at the moment and I'm waiting to see if this bounce turns into a recovery of the long term up trend.

 

[noirua]

Attack on Israel could boost appeal of gold, safe haven assets
Reuters
October 8, 2023 1:10 PM GMT+1
Https://www.reuters.com/world/middl...ost-appeal-gold-safe-haven-assets-2023-10-08/
Rising geopolitical risk could see buying in assets like gold and the dollar and potentially boost demand for U.S. Treasuries, which have been sold off aggressively, analysts said.

 

[Sean K]

Attack on Israel could boost appeal of gold, safe haven assets
Reuters
October 8, 2023 1:10 PM GMT+1
Https://www.reuters.com/world/middl...ost-appeal-gold-safe-haven-assets-2023-10-08/
Rising geopolitical risk could see buying in assets like gold and the dollar and potentially boost demand for U.S. Treasuries, which have been sold off aggressively, analysts said.

Oil been given a boost as well. I wonder how long the move to a perceived safe haven lasts? Russia invading Ukraine didn't seem to last that long.

 

[divs4ever]

Russia v. Ukraine

Russia took it's commodities and traded them through other markets (like those doyens of transparency China , India and non-Saudi Middle-East ) some maybe 10% of global commodities have gone 'dark ' , not counting the rumor that 90% of gold processed in Russia goes straight to their Central Bank