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Topic: Gold 2019 (Read 1071 times) previous topic - next topic

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Gold 2019
OK, I will start 2019 gold update thread by posting a link to a very good article by Clive Maund. He is very bullish gold and HUI and makes his points with chart support.


https://www.clivemaund.com/gmu.php?art_id=68&date=2018-12-30

  • ken
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Re: Gold 2019
Reply #1
Clive Maund is one of the guys I consider when choosing to read on the metals.

  • edthelorax
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Re: Gold 2019
Reply #2
That's a great way to start the new year!

For Entertainment Purposes Only.

Re: Gold 2019
Reply #3
the chart is gold priced in copper. I am not sure what it means, but I am going to have a longer look at it. For a quick take now, the moving averages are aligned, the reverse H&S looks more like it was a double bottom and the trend lines all confirm gold has broken out to the upside. My reason to chart the relationship was to see if there was an obvious relationship between the monetary metal and Dr. Copper, the industrial metal.



  • edthelorax
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Re: Gold 2019
Reply #4
I would go with double bottom.  Pattern was confirmed with the break of the high between them, Very interesting chart.
For Entertainment Purposes Only.

  • edthelorax
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Re: Gold 2019
Reply #5
Golden cross.
For Entertainment Purposes Only.

  • edthelorax
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  • Administrator
Re: Gold 2019
Reply #6
For Entertainment Purposes Only.

  • edthelorax
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Re: Gold 2019
Reply #7
For Entertainment Purposes Only.

Re: Gold 2019
Reply #8
I am nearly 100% convinced gold has made a secular turn. It has a 50 - 200 day moving average bull cross It has been riding rather consistently along the upper Bollinger Band, MACD curves and histogram (not shown) are bull oriented, and there has been a rounded bottom formed over the last several months. It has been a few weeks since I have written a covered call, fortunately, as the premiums have not yet reflected the incremental volatility so it is more profitable to just hold the underlying issue. Nearly all common name PM stocks have done well over the period while lesser known names have lagged. I will be investing new money in lesser known names as the momentum becomes more apparent, more investors will be looking for the most value. Also, high PE miners will give the most leverage to gold price. The last five trading days have been fantastic.



  • edthelorax
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Re: Gold 2019
Reply #9
For Entertainment Purposes Only.

  • ken
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Re: Gold 2019
Reply #10
Nice pin at 2 hours this morning.

  • edthelorax
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Re: Gold 2019
Reply #11
For Entertainment Purposes Only.

Re: Gold 2019
Reply #12
Ed, you are right about the gold discussion being misplaced under silver, I guess I just lumped PM's together somewhere along the line.

Here is your chart from the other thread:



And here is a chart I just made:



The heavy black curve is an arbitrary insertion that suggests at this time the rounded bottom seems to be in tack. Share price is in the upper half off the BB spread and curves are spread suggesting volatility can be expected at least for a while. MACD histogram is showing a slight negative shift but the curves are well above the mid line and RSI continues to trend up. The notion of a 45 day correction is not mine, but I thought the community should be exposed to alternate view points. I actually acted on the thought by selling one week covered calls on GDXJ (expired worthless) and GOLD (exercised at $32.50). Over the next year or two, maybe longer, I am extremely bullish PM stocks so plan to replace the Barrick shares with 2021 LEAPs and write weekly cash covered puts with the leftover cash, not sure of the issue yet.

Re: Gold 2019
Reply #13
linked is a very interesting article on gold and fiat all supporting a monster gold price increase soon, maybe w/n the next 90 days:

https://kingworldnews.com/greyerz-one-of-the-most-shocking-stories-you-will-ever-read/

Re: Gold 2019
Reply #14
There is a lot going on with gold if one looks at a longer term chart. a long term resistance is present at around $1360 to $1375 that has been unsuccessfully challenges several times; maybe it will be decisively penetrated on this run setting the stage for an indication secular bull market. It seems that the recent decline to $1200 minus was overdone and potentially the last opportunity to buy gold that cheap. the recent run up has been in a tight channel that will likely expand, but for now it gives confidence that the last several of down days are within the volatility of the current trend. MACD and RSI look fantastic.




The next one year chart shows gold over the last year has moved from solidly bear to bull orientation with the 50, 100, and 200 day moving average curves aligned positively. There will be volatility, but at this juncture I believe the worm has turned favorably for the PM sector.