฿ Donate using Bitcoin! 1LYHyG1WiJsKvxf1p4CA5ApNrniCE26Hns Ξ Donate using Ethereum! 0x6E225E2D29BEB9533Fd36C467981Ea15b8714C24
Skip to main content
Topic: Gold 2021 (Read 2530 times) previous topic - next topic
0 Members and 1 Guest are viewing this topic.

Re: Gold 2021

Reply #60
During the great recession, holding gold has been better than holding gold stocks but it looks like that worm may be turning.



Gold had a massive run up during the early years of the great recession than painted a massive multiyear cup followed by a handle still in formation but the bottom might be formed. Can we expect a run up to follow? I do not know but it seems probable.



My take from these two charts is gold stocks have underperformed gold for a long time but that appears to be reversing. Gold looks to be on the upside of a handle paint. That seems like a plus for gold and potential bottom on the ratio chart is an additional plus for gold stocks.

Have a great week folks

Re: Gold 2021

Reply #61
For Entertainment Purposes Only.


Re: Gold 2021

Reply #63
It does not look like gold has suffered serious technical damage as it is above the longer term green up trend line. Values coming off the 50 day MA are around the middle of July so it is expected a little time is required to get it up sloping and above the 200 day. I am still optimistic.



Re: Gold 2021

Reply #65
Not to quibble with Ed's $1746 black lines matter, rather support the general TA key number, I'm looking at the longer term up trend in light green, $1740 is today's value. Also, not shown, but on the futures market volume was 9400 contracts over a 30 minute period following the 8:30 unemployment claims announcement on a huge drop; who knows how many sell orders were thrust on the exchanges.