dicker

Always goes down faster than it goes up!

Ouch! Hard correction now incoming.

Same with gold!

Interesting that a number of banks are predicting Gold hitting USD2k shortly.  The media variously agreeing, but not sure they really describe all of the drivers for the price increases well. There is a perfect storm for Gold prices at the moment;
US China relations
QE
 Bad numbers from the US economy
Covid - particularly in the US
As these drivers dissipate, Gold in USD may well fall back for a while is my guess.
 
QE however is not going away... 

I forgot to mention that governments need inflation, and I think they are going out to get it which will of course support Gold in all currencies

Gold volatile at Asia opening this morning - 1535 when I was on my first call and back to the 1513 level.  
 
I will be watching the US stimulus news today / tomorrow, but giving US citizens 1200 bucks each (helicopter money) is particularly interesting

Helicopter money straight into the real economies since covid-19. This creates real inflation in the real economy. Govs will be looking to tax the bejeesus out of everyone once this ends......inflation plus taxes coming...so bye bye the middle class, hello reduced upper class....and tough luck on the poor ........if pension money starts to enter the gold market, watch out.....it will move it enormously as big institutions like pension funds have to pick and choose their moment and get in in tranches.
Governments are now just propping up their economies with endless free cash now. Will it stop ? Can they stop ? Once a vaccine has been proven to work, there will be a sigh of releief in economies but the damage has been done....print to infinity in the real economy to stop increasingly destitute populations or cut everyone without a job adrift and hope there aren’t riots ? Not exactly a great choice, either of them. Trust in governments continues to be eroded day by day. 
Gold price and 30 year treasury bonds are a decent correlation btw.

its $1950 so its looking at $2000...more likely to effect a drop when it hits that.

It was settling @dicker but as I write this at 12:19am UK time it’s now £1,517.09.
Where is this going. 😳

Please keep the thread on topic, previous posts moved to:
 

Dollar cost averaging is a perfectly respectable method of drip feeding money into the market.

come on Wonger where is the COT Chart??😀 I must have missed seeing it today😎

Problem is you never look at the other side of the trade

 
 Commerzbank analyst Carsten Fritsch.
 
“The fact that the rise in the gold price has been hardly driven by speculation at all argues against any excessive correction. Net long positions held by speculative financial investors increased only slightly in the last reporting week, and still remain significantly short of their early-March level,” he said.

A horrible burning smell has been bugging me for days and I couldn't figure out what it is?  Now I know, it is the shorts, they are on fire!  Burn shorts burn 🙂

China bought another 10 Tons of gold at 4am this morning to meet the demand for the Xi Jinping lucky charm manufacturing industries.
Great Britain strikes the first Gold Sovereign with a hole in the middle as stocks of Gold fall .
 

Another friendly bump, just in case anyone is tempted.
Yes, gold has just taken out its old USD highs. So what? The inflation adjusted equivilent would be about $2300 compared to its 2011 price. The Dow/gold adjusted price would be $4400.
If we are truly in a secular bull market then gold will easily take out both those targets.
 
 

Can we rename this thread @ChrisSilver it needs to be called The coming Gold Boom. We have broken intraday the all time high price of Gold.

https://www.google.co.uk/amp/s/www.cnet.com/google-amp/news/senates-new-1200-stimulus-check-reveal-for-monday-everything-we-know/

i see the helicopters are ready for another round
it's funny that the USA are paving the way in this
in my country they only offer 0% interest "covid" credits, but you actually have to fulfill some requirements
next stop: 3000

Worked up for work (have.a 5am meeting with people in Asia) and genuinely am surprised to see Gold at 1505.  Thought it would stabilise / pull back.  

Worked up for work (have.a 5am meeting with people in Asia) and genuinely am surprised to see Gold at 1505.  Thought it would stabilise / pull back.  

Reached $1944 absolutely smashed the record with ease wow
Silver and bitcoin also flying, what a start to the week
I'm not sure exactly where it is I'm not a too familiar with forex but I think the dollar has either broken or is very very close to breaking a 2011 trend line which is huge, very weak 

Thanks, not far away now

I think this is the day it breaks £1,500 and I predicted that by Christmas. 🤷🏻‍♂️ 😂

Golds going strong in the first 20 minutes getting up to $1910, could be headed for an all time high today
I'm not actually sure what the all time high is? I googled and it says $1920 some places & $1921 another 
 

OK stop obsessing about closing out your position. I agree, it's different to hedging. It's irrelevant anyway; a closed position can easily be re-opened.
You still haven't addressed my primary point about once you start hedging you are effectively locking in your loss. Simply trying to muddy the water and trying to bamboozle me with option traders' jargon doesn't wash.