Gold Monitoring Thread $ (USD) only

[Martlet]

1 hour ago, vand said:

The gold price action since 2016 has been the early adopters, but IMO we are now moving into the main phase of the bull market where institutional investors get on board. This will last another few years during which the price should at least double.

There have been a number of banks putting out buy gold news, with high targets.  

[5huggy]

LOOKs like wonger could be right 😉

serious attack to lower price of "spot" this morning!

[KRO]

Bullion Banks stuck with large short positions, regardless of what Wonger says😀

they need to keep trying to get spot below $1740

before time runs out

[Kman]

Because it's struggling so much with $1810 this is my guess

$1810 down to $1750-60 for a short period before stabilising back on $1775, then bouncing a little between $1785-$1796 then up to $1840 by mid August

Or maybe it will just bounce between 796-1810 for a little while longer and actually break out 

 

 

 

Edited July 15, 2020 by Kman

[ChrisSilver]

Recent off topic posts hidden and to avoid this topic becoming a covid discussion topic. Please keep any covid related posts exclusively to the non PM section of the forum in the related topics there.

[Kman]

Superrrr strong move up to $1840

[dicker]

11 minutes ago, Kman said:

Superrrr strong move up to $1840

Yes - just seen that.....I thought the EU stimulus would have had a bigger impact earlier in the day - but I guess the market priced it in...

[DarkChameleon]

1 hour ago, dicker said:

Yes - just seen that.....I thought the EU stimulus would have had a bigger impact earlier in the day - but I guess the market priced it in...

Silvers rise had to do something to gold eventually.

[KRO]

the dollar is weakening against all major currencies, bullish for gold
so as one safe haven weakens
the  immediate alternatives are Gold and CHF

Edited July 21, 2020 by KRO

[Kman]

Gold made a $20 move up in 15 minutes at 2am, lightening fast

$1860 now

Maybe the dollar will rally and gold will come down a bit but who knows

It's moving so fast I haven't been able to put in a leveraged buy, I need a pullback first, it's running away from me 🚀

 

 

 

 

[HerefordBullyun]

Just now, Kman said:

Gold made a $20 move up in 15 minutes at 2am, lightening fast

$1860 now

Maybe the dollar will rally and gold will come down a bit but who knows

It's moving so fast I haven't been able to put in a leveraged buy, I need a pullback first, it's running away from me 🚀

 

 

 

 

Unfortunately I think a pullback is going to take some time - the rally is just starting for gold and silver

[Kman]

11 minutes ago, HerefordBullyun said:

Unfortunately I think a pullback is going to take some time - the rally is just starting for gold and silver

They're moving almost unnervingly fast atm

I don't know if it's the US dollar or EU recovery fund or what's going on any idea?

I've heard people say check the bond market or swiss franc or japense yen for ideas on fear/volatility 

Stocks seem ok though so it doesn't seem to be fear

Edited July 22, 2020 by Kman

[HerefordBullyun]

Just now, Kman said:

They're moving almost unnervingly fast atm

I don't know if it's the US dollar or EU recovery fund or what's going on any idea?

I've heard people say check the bond market or swiss franc or japense yen for ideas on fear/volatility 

 

The asian market went crazy today on PMs - humans follow suit - watch today infact this week! Espically silver!

[cornishrich]

All that money printing is taking effect 🖒

[dicker]

@cornishrichI agree (long term) although why Gold and Silver are spiking at this point is not clear to me at the moment. 1860 at the moment....

[dicker]

Worth a read in relation to the current rise in Au https://seekingalpha.com/article/4359356-gold-short-squeeze-is-getting-physical-beware-others

[KRO]

excellent article@dicker

interesting comment from todays CaxtonFX bulletin

Another haven, gold, also rallied yesterday, with futures prices for the precious metal hitting their highest levels since 2011 up by more than 1.5% on the day. Silver also surged, gaining 7% and hitting a 6-year high. I would jest that maybe the Fed are now considering buying precious metals – as that’s the only reason things rally these days – but with the nomination of Judy Shelton having been advanced yesterday, that may worryingly become closer to a reality.

[DarkChameleon]

One story filling the headlines is the chinese consulate closing as they grt k8cked out ofamerica, added to the hacking for covid vaccine, russia is also at it but trump would never punish russia...so asia might be buying up gold before sanctions or offloading some american debt which would have the same effect...weaken the dollar and raise pms.

[Kman]

I'm expecting a pull back soon, it seems too fast, too overextended 

Maybe up to $1900 then a bounce before down to $1820

It's weird, I've not been looking at indicators long but usually the price sings with them but they say to me gold should have topped out at $1840 yet here we are at $1877 

I guess might depend if the dollar can really

Edited July 23, 2020 by Kman

[Auricsstash]

Can it break the all time USD high today $7 to go...

[maminzlaten]

It's the final countdown

we are heading for Venus...

[Kman]

It's because the dollar is falling, it's about as weak now as it was in March

Just how low can it go 

[dicker]

Not a conspiracy theory, but I suspect there is a fair chance that China will punish the US in terms of the dollar, on that basis I think it is going to go lower.  Good in the short term for US Competitiveness....

Best

Dicker

[Kman]

1 minute ago, dicker said:

Not a conspiracy theory, but I suspect there is a fair chance that China will punish the US in terms of the dollar, on that basis I think it is going to go lower.  Good in the short term for US Competitiveness....

Best

Dicker

I don't know anything about currencies really, do you think it will reverse back as quickly as it's going down at some point? 

[dicker]

I am not an expert either, but think this is what is happening, along with QE and a less than rosy US growth picture.

Can it snap back quickly - yes.  Will it - I really don't know.  I just think the US is not in great shape at the moment and looking at the big picture I think weaker dollar.

I have only ever had success in predicting when stepping back and looking at the very big picture (which means long term investments).  Tomorrow and next week are way too hard to predict!

Take care 

Dicker