Gold Price - Where is it heading?

[qldfrog]

I keep a couple on hand to keep the fingers busy.

View attachment 189244

And these are not too heavy in the pockets

 

[Sean K]

It looks as if my prediction for a 1-2-3 reversal for gold is not going to occur and it is rallying higher after the consolidation.

It looks like EW theory is not fitting into this move at the moment. It's been a volatile 3 months. Still on the sidelines for peace of mind.

 

[Garpal Gumnut]

EW is very subjective @Sean K , isn't it. I'm in again but looking to add as that late October to mid November wave looks as if it may be repeated down to high $2400's.

I'm looking to add around $2500 as support should kick in there.

Then again we may be ........ lol. Maybe a dart is the best decider.

gg

 

[outback]

If I draw any more lines on a chart with this thing I won't be able you see a candle. I'd settled on a retrace to about 2480, but starting to think the ship has sailed.
I'll sit on the wharf and watch for a bit I think and see if I should have taken the plunge earlier.

 

[farmerge]

If I draw any more lines on a chart with this thing I won't be able you see a candle. I'd settled on a retrace to about 2480, but starting to think the ship has sailed.
I'll sit on the wharf and watch for a bit I think and see if I should have taken the plunge earlier.

Oh well, Sail away, sail away.

 

[DannyB0000]

If I draw any more lines on a chart with this thing I won't be able you see a candle. I'd settled on a retrace to about 2480, but starting to think the ship has sailed.
I'll sit on the wharf and watch for a bit I think and see if I should have taken the plunge earlier.

Bitcoin and Gold are speculation territory now, its anyone guess as how to high prices go now. Let the ship sail away. If there's a deeper selloff with Gold next year, I'll buy back into GOLD etf.

 

[divs4ever]

I'm not sure if it's possible, but the day someone replicates a bitcoin from nothing, a lot of people will lose their shirts.

Even the alchemists can't turn lead into gold.

easy to create a bitcoin ( they are created by 'mining ' ).. but very expensive to do between the computer hardware required ( for the current ones ) and the power consumption to run the computer hardware

after all a bitcoin is just a ( complicated ) computer algorithm

now creating a true competitor ( not a cheap copy of it ) that will take some thinking, effort and a lot of computer cycles ( and charisma to sell it to the masses )

effectively bitcoin started out as a reward points system , for folks donating idle computer cycles to selected mega-corporations

PS i checked out the 'mining ' angle and couldn't find a cost effective way to do it , after i factored in future power price increases ... so i bought into various utility companies as a lower hassle way to make some profit

 

[qldfrog]

easy to create a bitcoin ( they are created by 'mining ' ).. but very expensive to do between the computer hardware required ( for the current ones ) and the power consumption to run the computer hardware

after all a bitcoin is just a ( complicated ) computer algorithm

now creating a true competitor ( not a cheap copy of it ) that will take some thinking, effort and a lot of computer cycles ( and charisma to sell it to the masses )

effectively bitcoin started out as a reward points system , for folks donating idle computer cycles to selected mega-corporations

PS i checked out the 'mining ' angle and couldn't find a cost effective way to do it , after i factored in future power price increases ... so i bought into various utility companies as a lower hassle way to make some profit

It is true BTC is power, that's all.
In a way a bit similar to aluminium, once a rare and precious metal kept in ingots in safes, then transformed into a kwh equivalent as alumina, like iron ore is very common on earth and all it needed was the right electrochemical process.
Quantum computer would be the BTC equivalent to aluminium refining new process, yet BTC would remain limited in number so scarity (or is it scarcity?) would remain.
The issue would become ownership preservation, as would be deed, bank accounts and shares registry.
A bullion is quantum computing safe, as is a $5 banknote..just saying

 

[ducati916]

easy to create a bitcoin ( they are created by 'mining ' ).. but very expensive to do between the computer hardware required ( for the current ones ) and the power consumption to run the computer hardware

after all a bitcoin is just a ( complicated ) computer algorithm

now creating a true competitor ( not a cheap copy of it ) that will take some thinking, effort and a lot of computer cycles ( and charisma to sell it to the masses )

effectively bitcoin started out as a reward points system , for folks donating idle computer cycles to selected mega-corporations

PS i checked out the 'mining ' angle and couldn't find a cost effective way to do it , after i factored in future power price increases ... so i bought into various utility companies as a lower hassle way to make some profit

Mr divs (or anyone): a couple of questions:


1. If you were selling (say) your house/property, would you accept btc as payment (settlement)?

2. Could you purchase a property for btc (or any high value item)?

Replace btc with gold in the two questions. Any difference in your answers?

Curious.

jog on
duc

 

[Captain_Chaza]

I don't Buy GOLD and I don't Sell PROPERTY!

However I Would Sell GDX and Buy another VBTC TOMORROW!

 

[bsnews]

I don't Buy GOLD and I don't Sell PROPERTY!

However I Would Sell GDX and Buy another VBTC TOMORROW!

Wait up Green is good Red is not so you would buy anytime?

 

[qldfrog]

Mr divs (or anyone): a couple of questions:


1. If you were selling (say) your house/property, would you accept btc as payment (settlement)?

2. Could you purchase a property for btc (or any high value item)?

Replace btc with gold in the two questions. Any difference in your answers?

Curious.

jog on
duc

Actually i would buy sell a property on btc as long as there is a stability clause: i do not want to sign a contract and then see the value fall by half 3 months later on settlement date;
On the other hand, after experiencing the drama to get my own cash from the bank received at settlement , i would feel more comfortable having some btc and be free to move it as and where i want...
Understanding that the key character checking for transfer would be a bit nerve wrecking
And if getting physical gold for a million plus property, i would need to check the strength of the backpack to walk to the safe

 

[Captain_Chaza]

Academics always come LAST in every field of endeavour
I think the answer was to be a Yes or a No

 

[qldfrog]

Academics always come LAST in every field of endeavour
I think the answer was to be a Yes or a No

So yes on btc, no in gold..does not mean i would keep the assets as gold/btc after settlement

 

[Student of Gann]

If we make Top into Dec 11th we could be down till X where Low is indicated.

 

[Student of Gann]

Gold : Counter trend Low is indicated for Dec 16-17th

 

[divs4ever]

Mr divs (or anyone): a couple of questions:


1. If you were selling (say) your house/property, would you accept btc as payment (settlement)?

2. Could you purchase a property for btc (or any high value item)?

Replace btc with gold in the two questions. Any difference in your answers?

Curious.

jog on
duc

although NOT a bitcoin fan ( i consider it a glorified system of reward points )

1. MAYBE , it would depend on if i could then exchange those BTC for a suitable tangible asset later on , for example one plus is the international portability , try getting 20 kg of gold ( or 100 kg of silver ) through most international entry gates , without some hassles/costs

for many decades illegal transactions were done with cut diamonds or gold coins ( or silver bullion )

now if i wasn't intending to journey far after the sale , gold or silver might be my preferred option ( provided i could take physical possession of it )

now buying a large asset will always depend on what the seller will accept as payment

IF your transaction is a legal one ( where you need to pay taxes/duties etc. ) BTC may become problematic there as you might need a different settlement mechanism to pay official fees/charges/commissions

but that is just an artifact of a system of regulation .

now one thing to watch with cryptos , is that big instos ( like Blackrock ) are creating fancy derivatives instead of exchanging the actual crypto ( ie a 'promise to pay on demand ' )


for example US dollars have limited use in Russian , but Chinese yuan or Japanese yen might provide the acceptable transaction liquidity

my choices would heavily depend on what i planned to do next after the asset sale

 

[moXJO]

In theory gold should go up if US interest rates drop. Really depends on how much inflation has been tamed though?

 

[Dona Ferentes]

Felix Zulauf :::: ( he's Swiss)

Gold and oil are two important commodities. The base metals are sloppy. They're not doing so well, because 50% of those base metals is consumed by China and the big infrastructure boom is over. Gold is money, unlike dollars or euros that are credit. They have a liability on the other side. Gold doesn't.

Gold is money and gold is a reflection of the fiat currency system. What I described at the very beginning that we go deeper into state capitalism and repression, and things like that mean that we continue to debase our paper currencies, and that is very bullish for gold.

I think the uptrend in gold continues. Around 2,800 it was a little bit pricey and the big central banks stopped buying from 2,400 to 2,800. That was Western investors. I think gold is probably in the trading range between 2,800 and 2,400. I would be biased as it comes closer to the lower end of the range, because I see it eventually over 3,000 and way beyond that...

excerpt from Global Macro Update

 

[Garpal Gumnut]

It is interesting that Gold has maintained it's price above $2500 for the past 6 months. Me and half the world are waiting for a dip to there to either get in or add.

It even held firm against the Trump effect which was the biggest geopolitical event of recent times. We seem less reactive to wars.



gg