Gold Monitoring Thread $ (USD) only

[DarkChameleon]

Gold is back upto $1960 which is great, no surrender like silver has done today, still see $2000 by weeks end.

[mr-dead]

[JunkBond]

$2000

[Kman]

[Goldmansacks]

Hold on to to your hats...🤑

[DarkChameleon]

26 minutes ago, Goldmansacks said:

Hold on to to your hats...🤑

Well preferablygold, sell thehats to buy gold...iwastwo days out..dam.

[Zhorro]

31 minutes ago, Kman said:

Watch out for the take down?  And it has been so quiet for the past day and a half!

[Kman]

1 minute ago, Zhorro said:

Watch out for the take down?  And it has been so quiet for the past day and a half!

I don't know if I even want to guess anymore, I keep getting it wrong lol

I thought it might burst through and go to $2020-240 before falling back to lower $1900 

Something about this burst upwards atm feels a little too quick, I don't trust it, feels like a trap

 

 

[DarkChameleon]

I had it down crossing $2000 by the end of last week....i was so close.

[Empire]

It's spiking today because of what's going on in Beirut and the unknown cause of the blast.

[Goldmansacks]

10 minutes ago, Empire said:

It's spiking today because of what's going on in Beirut and the unknown cause of the blast.

Think it was a fire in a Fireworks storage facility,think it's just demand that is causing the spike.

[KRO]

32 minutes ago, Kman said:

I don't know if I even want to guess anymore, I keep getting it wrong lol

I thought it might burst through and go to $2020-240 before falling back to lower $1900 

Something about this burst upwards atm feels a little too quick, I don't trust it, feels like a trap

 

 

agree @Kman seems too far too fast, just to get the price past $2000

One reservation I would have is the "Robinhooder's" haven't really latched on yet
The leading  GLD ETF still only has 36,000 holders, up just 6,000 in a month
When you see TESLA has over 500,000 it puts it into perspective as to what could happen

[Empire]

1 minute ago, KRO said:

agree @Kman seems too far too fast, just to get the price past $2000

One reservation I would have is the "Robinhooder's" haven't really latched on yet
The leading  GLD ETF still only has 36,000 holders, up just 6,000 in a month
When you see TESLA has over 500,000 it puts it into perspective as to what could happen

When you think about it the price isn't that surprising. Most bonds yielding negative, massive amounts of money being printed by central banks, massive layoffs incoming once government support winds down, possibility of a second wave, geo-political tensions with USA / China. It's getting scary.

[Kman]

1 minute ago, Empire said:

When you think about it the price isn't that surprising. Most bonds yielding negative, massive amounts of money being printed by central banks, massive layoffs incoming once government support winds down, possibility of a second wave, geo-political tensions with USA / China. It's getting scary.

Not the price just that it only took 2 hours to go up 1.3%, that's rapid 

When it goes up quick instead of steady it seems like it can drop  off just as quick but who knows 

[Kman]

Reminds me of this last week where it went up 2.3% very quickly but then down 3.6% 

 

But maybe we're on the first leg up 

 

Edited August 4, 2020 by Kman

[Airhead]

39 minutes ago, Goldmansacks said:

Think it was a fire in a Fireworks storage facility,think it's just demand that is causing the spike.

I’m surprised that fake news hasn’t accused Israel of going nuclear in Beirut. The secondary blast did look a bit mushroomy.

[Bratnia]

Just one prediction of what could happen (blue line = actual, red line = projected). Much depends upon how much money is printed. IIRC Congress gave the OK to print up to $8Tn to buy up to 70% of each/any series of bonds (and as bond prices rise with cash injections, so pension funds etc reduce bonds to add to stocks - so stock prices rise).

Could flatten, can't see much however in the way of tightening/yields rising. Inflation could very well rise whilst treasury yields remain suppressed i.e. even more negative real yields (that tends to uplift the price of gold).

JMHO

[Kman]

My predictions so far haven't been the best but I'm feeling very good about this one

For some reason I've only just found/drawn in some beautiful trend lines

Gold I think it's going to hit around $2060 then come down to probably $1935-$1945 and the trend line it's been following up will become a point of resistance, that would be a 5-6% drop

Comparing gold and silver moves in 2011 this seems very plausible 

It could also just fall back to the bottom of the trend at $1980 and continue on the strong path up, make another leg up to the top before falling out 

 

 

Edited August 5, 2020 by Kman

[Cointreau]

Even I am surprised by this latest uptick.

[DarkChameleon]

Just hit $2050, good thing i mingled my stack.

Edited August 5, 2020 by DarkChameleon

[BobnotTed]

21 hours ago, Kman said:

My predictions so far haven't been the best but I'm feeling very good about this one

For some reason I've only just found/drawn in some beautiful trend lines

Gold I think it's going to hit around $2060 then come down to probably $1935-$1945 and the trend line it's been following up will become a point of resistance, that would be a 5-6% drop

Comparing gold and silver moves in 2011 this seems very plausible 

It could also just fall back to the bottom of the trend at $1980 and continue on the strong path up, make another leg up to the top before falling out 

 

 

Kman, may I ask which software package you are using to produce your snazzy charts?

 

[Kman]

18 minutes ago, BobnotTed said:

Kman, may I ask which software package you are using to produce your snazzy charts?

 

Tradingview

To edit the trend lines in tradingview you right click on the trend line, then settings to get colours/thickness/opacity

Edited August 6, 2020 by Kman

[MancunianStacker]

Bloomberg Anchor “I cant afford Gold”, “I wish I could but I can’t find an entry point”.

MSM sounding like they are trying to put off the public from dipping a toe in the water.

Collegue did however say “I’m trying to find an entry point in any asset class at the moment”.

PLUS 

Turkish Lira against the 🇺🇸 $ is also taking a dive!!! 

[mr-dead]

Gold has now exceeded the inflation adjusted ATH

 

[DarkChameleon]

In being put off trading silver for gold, gold is rising but silver in on a tear.