Gold Price - Where is it heading?

[rcw1]

Good morning and Happy Easter,

Nice summary to listen to. Gold is good.



Have a very nice day today.

Kind regards
rcw1

 

[DannyB0000]

Isn’t Peter Schiff always predicting the worst will happen though ?.

Everytime the stockmarket looks shaky, people like him seem to come out of the woodwork and predict doom and gloom.

 

[Sean K]

Isn’t Peter Schiff always predicting the worst will happen though ?.

Everytime the stockmarket looks shaky, people like him seem to come out of the woodwork and predict doom and gloom.

Yes, he's predicted 1000 of the last 1 crashes.

 

[divs4ever]

Isn’t Peter Schiff always predicting the worst will happen though ?.

Everytime the stockmarket looks shaky, people like him seem to come out of the woodwork and predict doom and gloom.

well if my books looked like the Feds , i would probably hang myself

also certain BRICS nations have been buying physical ( and not in US dollars )

 

[Sean K]

Has FOMO kicked in? Looks like JPM have released the breaks anyway.

 

[ducati916]

Still rising:



Still a bit early in the day for the JPM boys to try and sell it down. Normally occurs around 4am or so NY time.

jog on
duc

 

[qldfrog]

The guys are in weekend, wait for tomorrow

 

[Sean K]

The guys are in weekend, wait for tomorrow

Gotta be some profit taking soon, shirley...

 

[peter2]

Gold, silver, copper, uranium ETFs all opening gap up this evening (US morning).

 

[Garpal Gumnut]

Gold appears to have some momentum at evening's close in NY.

$USD 2448.90

gg

 

[Bailxtrader]

• Gold is seeing a notable rally to record highs despite otherwise quiet trading conditions.
• Expectations of a Fed rate cut this quarter are supporting the bullion.
• XAU/USD’s technical outlook remains bullish above previous-resistance-turned-support near $2200.

With most of Europe still out of the office for the long Easter holiday, markets are playing an April Fool’s Day trick on any traders expecting volatility today.




Source: TradingView, StoneX


Turning our attention to the chart, Gold has clearly broken out of March’s 3-week sideways range between $2150 and $2200, hinting at the potential for another leg higher from here. For now, the near-term bullish momentum will remain the dominant feature of the chart as long as prices hold above previous-resistance-turned-support at $2200, and with prices already at record highs, there’s little in the way of meaningful resistance until above $2300.

 

[Garpal Gumnut]

• Gold is seeing a notable rally to record highs despite otherwise quiet trading conditions.
• Expectations of a Fed rate cut this quarter are supporting the bullion.
• XAU/USD’s technical outlook remains bullish above previous-resistance-turned-support near $2200.

With most of Europe still out of the office for the long Easter holiday, markets are playing an April Fool’s Day trick on any traders expecting volatility today.

View attachment 173874


Source: TradingView, StoneX


Turning our attention to the chart, Gold has clearly broken out of March’s 3-week sideways range between $2150 and $2200, hinting at the potential for another leg higher from here. For now, the near-term bullish momentum will remain the dominant feature of the chart as long as prices hold above previous-resistance-turned-support at $2200, and with prices already at record highs, there’s little in the way of meaningful resistance until above $2300.

Thanks for the chart @Bailxtrader

Should this bull run continue this week I can see from TA, juggling the range values from $USD2000.00, that $2500.00 is achievable soon. If so that will be a 25% gain in 1 mo., and not to be sneezed at.

I believe the Israeli and Persian cousins are upping the ante in the Middle East. Two probable knuckler powers going at each other should give gold some fundamental steam.

gg

 

[mullokintyre]

From BTL ,

The Chartists among us will be able to interpret this far better than I can.

But if I was pretending to be one, I might suggest that a pull back is on the cards to replicate the last two times it popped close to the top of that channel.
mick
View attachment 173398

Well I got that one wrong didn't I.

Mick

 

[Sean K]

Well I got that one wrong didn't I.

Mick
View attachment 173881

Well, BtL got it wrong.

 

[ducati916]

While physical is currently being driven higher by its adoption as an oil currency, miners are more the recipients of the inflation trade.

Equity markets are 'starting' to view good news as bad news. Good news tends to delay the need for rate cuts (that seems to be the psychology currently) which of course may actually turn out to be a really bad thing for equities anyway.

Miners catch up.

jog on
duc

 

[ducati916]

The selling started at 4am NY time and continued through the open. Couldn't hold it down.

jog on
duc

 

[greggles]

View attachment 173906

The selling started at 4am NY time and continued through the open. Couldn't hold it down.

jog on
duc

I have been watching silver trade and it also feels like this at the moment. There are waves of selling that drive the price down but there is a strong undercurrent of buying pressure that starts to build take hold as soon as the price dips far enough. This buying pressure feels very strong, like a rising tide, much stronger than the selling, which feels like profit taking combined with a very weak attempt to keep a lid on the price.

 

[DaveTrade]

View attachment 173898

While physical is currently being driven higher by its adoption as an oil currency, miners are more the recipients of the inflation trade.

Equity markets are 'starting' to view good news as bad news. Good news tends to delay the need for rate cuts (that seems to be the psychology currently) which of course may actually turn out to be a really bad thing for equities anyway.

Miners catch up.

jog on
duc

A big picture starting from the Sep 2011 top.

 

[DaveTrade]

I have been watching silver trade and it also feels like this at the moment. There are waves of selling that drive the price down but there is a strong undercurrent of buying pressure that starts to build take hold as soon as the price dips far enough. This buying pressure feels very strong, like a rising tide, much stronger than the selling, which feels like profit taking combined with a very weak attempt to keep a lid on the price.

A chart of SLV with some support & resistance lines, I agree it's looking bullish and ready to break out to the upside.

 

[Sean K]

My Kangaroos are feeling anxious. Parabolic moves end up with parabolic corrections. Be prepared for some significant profit taking - at some point. In the meantime, my Kangaroos are anxious.