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Topic: Gold 2019 (Read 1865 times) previous topic - next topic

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  • edthelorax
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Re: Gold 2019
Reply #30
Touching the 50DMA here. A break above this would be very bullish. It would not be surprising to see a bounce lower off of it first.
For Entertainment Purposes Only.

Re: Gold 2019
Reply #31
MACD curves and histogram have turned up as well. It would be nice to see $1360 resistance violated.


  • edthelorax
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Re: Gold 2019
Reply #32
  • Last Edit: April 10, 2019, 10:11:26 PM by edthelorax
For Entertainment Purposes Only.

Re: Gold 2019
Reply #33
"From 1971 through to 2019, gold has gone from $35 to $1280, which comes out to 7.8% per annum - an astounding gain, just spectacular." The other way to look at that quote is wrt gold being real money that holds its value since it is inert, the dollar has lost value at an equal rate and in a commensurate amount. So the real inflation rate over the period can be approximated at 7.8% if gold is used as the measuring tool. I have posted many times that using the dollar as a measuring tool is like using an elastic yard stick. The government goes to great pains to be sure consumers are protected via accurate weights and measures for goods, but not for the dollar, the most used tool.

Another thing to consider, this has occurred while the fed has had a stable price mandate. Even their redefinition of stable being 2% inflation with no congressional approval, they have still messed up royally. Their are no penalties for anything in any legislation concerning the fed, isn't that convenient!

Link to article containing the quote:

https://mailchi.mp/wealthresearchgroup/america-is-losing-ground-fast-533613?e=53ac4df37c

  • ken
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Re: Gold 2019
Reply #34
On a side note of gold, something you may not believe is posted on Silver Stocker we have this:

According to Nature Communications, Australian researchers found a new type of fungus with a unique obsession: gold. This strain of Fusarium oxysporum collects the precious metal from its surroundings, dissolves it, and precipitates it in order to coat itself in gold.Although fungi often interact with other materials, both organic and inorganic, Dr. Tsing Bohu described this unusual relationship as something that "had to be seen to be believed." Scientists are not sure yet why exactly the fungus does this, but initial observations suggest that the fungi coated in gold grow larger and spread faster than their non-auric counterparts Researchers believe that the discovery of these new fungi could prove to be a real boon for the gold mining industry, as their presence could possibly indicate untapped gold deposits. Others go a step further and opine that the fungus could be used to retrieve gold from waste products such as electronics. It could even be used as a "pathway" to transport gold from the depths of the planet to higher, shallower soil.....

https://www.theguardian.com/science/2019/may/24/fungi-that-draws-gold-from-its-surroundings-discovered-in-western-australia
  • Last Edit: June 02, 2019, 08:50:49 PM by ken

  • edthelorax
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Re: Gold 2019
Reply #35
1320 then 1340 and 1365. Above those is blue sky.
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  • edthelorax
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Re: Gold 2019
Reply #36
For Entertainment Purposes Only.

  • edthelorax
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Re: Gold 2019
Reply #37
Gold is looking like it wants to break out of this consolidation.
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  • ken
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Re: Gold 2019
Reply #38
Gold is looking like it wants to break out of this consolidation.

Ya think.? Look at the weekly. We might have a party going into July!
https://www.tradingview.com/chart/GOLD/YhJEY6T0-Gold-Trend/
  • Last Edit: June 06, 2019, 04:27:36 PM by ken

  • edthelorax
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Re: Gold 2019
Reply #39
It hit those lines nicely. Now it's ready for the BO! once it goes, it will go very fast IMHO.

For Entertainment Purposes Only.

Re: Gold 2019
Reply #40
It would b good to break through the $1360 resistance that has been in play for about five years. We have the fed meeting this week and a read on GDP, either could be the catalyst to get us through. Once that happens, efforts to suppress PM prices will proceed toward futile.


Re: Gold 2019
Reply #41
In another thread, Nikko posted "For those not in precious metals, IMO, everything is perfect for a massive move." I think he is spot on and so does the linked author.

https://mailchi.mp/wealthresearchgroup/america-is-losing-ground-fast-533801?e=53ac4df37c

Very encouraging for PM longs

  • andre171
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Re: Gold 2019
Reply #42
Gold passed this night the technically very important level of 1365-1370.
It is still necessary that this increase is maintained and "interventions to reduce the price" are to be feared tomorrow evening in particular

  • ken
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  • Global Moderator
Re: Gold 2019
Reply #43
Got up at 2:30 this morning, signed on a had a 'holy shit" moment. I figured Iran had something to do with it.
Personally I don't think there is going to be another war that once again, the USA loses.

  • Nikko
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Re: Gold 2019
Reply #44
have to admit Im selling some covered calls today on Barrick. Sold my SIL just now for a quick scalp as well.
This is really bullish action, but it should come back somewhat as today is simply too big a gain in gold and miners...( unless Trump bombs Iran )...How moronic would that be.