฿ Donate using Bitcoin! 1LYHyG1WiJsKvxf1p4CA5ApNrniCE26Hns Ξ Donate using Ethereum! 0x6E225E2D29BEB9533Fd36C467981Ea15b8714C24 P Donate using PayPal! paypal.me/mamastinky
Skip to main content
OpenID

News

  • Anyone having problems using the site - please send an email to admin@silverstocker.com with a description of your issue.
  • Please use quoting (or at least make references) in responses so people can understand what comments or charts you are responding to!
  • Newly registered members - If you cannot log in, check your email to activate your account!

Topic: Gold 2020 (Read 615 times) previous topic - next topic

0 Members and 1 Guest are viewing this topic.
Gold 2020
Comparing gold prices last quarter to prices in the previous quarter suggests about a hundred dollar increase using a least mean squares fit. Miners not affected by the Wuhan flu too much should see a positive earnings report, but guidance might be problematic.


  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #1
Will we see a short term correction....

Re: Gold 2020
Reply #2
"If you think gold has jumped about 10 percent in a couple of days to $1,638 an ounce, the official price quoted on Wall Street, think again.
The real price? Nearer $1,800 -- if you can get it."

more on paper gold vs. physical price discrepancy:

http://www.gata.org/node/19999

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #3
"If you think gold has jumped about 10 percent in a couple of days to $1,638 an ounce, the official price quoted on Wall Street, think again.
The real price? Nearer $1,800 -- if you can get it."

more on paper gold vs. physical price discrepancy:

http://www.gata.org/node/19999
Gold will be like toilet paper when this passes in a few months. Trying to return it.

Re: Gold 2020
Reply #4
On the EQX thread it was observed that gold was due for a correction and how far might that correction be. Support for the correction commencing today comes in the form of COT reporting foe the week ended yesterday so whatever the bullion banks do today will not be reflected until Friday a week and then they may get camouflaged with subsequent trading. Fundamentally it looks like market participant are resigned to inflation in the short run about everywhere but the credit markets and they no longer are markets but means of transferring freshly printed dollars into the economy, unfortunately where the fed and government decides, not allocated on a best use basis.

Looking at the chart, RSI got to 67 and is turning down and MACD has gone way above the midline supporting the thought of a short term correction. Horizontal support looks at about $1645 first then $1575 is a little more robust. The 20 day MA and midpoint of the BB's is at $1617. Given the resignation of near term inflation, I do not see a plunge like we saw in mid March, maybe more like we had at the end of February, so any of the three numbers mentioned could be near term bottoms. Overall, it does it matter too much as PM's have entered a major secular bull market.



  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #5

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #6
India's gold consumption in 2020 could fall as much as 50% from a year ago to the lowest level in nearly three decades as a nationwide lockdown has closed jewelry stores during key festivals and the wedding season.
https://www.armstrongeconomics.com/market-talk/market-talk-april-17-2020/

  • Nikko
  • [*][*][*][*][*]
Re: Gold 2020
Reply #7
I had sold some calls on both GOLD and NEM over the past 2 weeks. ( April strike )
My NEM 60 calls : collected .85 premium
My NEM 57 calls : I am now short at 58.50 as shares were taken
My GOLD 25 calls : collected .50 cent premium
My GOLD 24 calls: Am now short at 24.50 as share taken

I have to decide what to do...do I stay short or cover.
Im leaning to hold them with a stop loss as they have been trading much more with the general market than with gold lately. I do see another dip in the miners with gold coming so hoping for a correction.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #8
Weekly chart:


4 hour chart the same:
  • Last Edit: April 24, 2020, 01:00:06 PM by ken

Re: Gold 2020
Reply #9
Gold might be in for a short term slowing of the uptrend while all the news of the economy returning to 'normal' and a successful virus vaccine being developed. Chart supports this thought as True Strength indicator is rolling over as is MACD and trend lines are suggesting a little weakness.


  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #10
Gold might be in for a short term slowing of the uptrend while all the news of the economy returning to 'normal' and a successful virus vaccine being developed. Chart supports this thought as True Strength indicator is rolling over as is MACD and trend lines are suggesting a little weakness.
It will be after the opening where the bad news starts to roll in. A lot of people ain't going back to work.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Gold 2020
Reply #11
I think gold will start by selling off with the stock market in an attempt to give the illusion that gold isn't a safe haven.  They have a whole month before they have to think about how many first day delivery demand notices they get. How many traders buying at 1700 with the intent of taking delivery in May are going to change their mind and not take delivery at 1700 or roll it over for another month as gold goes toward 1600 versus how many extra traders will buy at 1600 intending on taking the physical?  I have no idea but someone with good computer modeling does. As long as they can keep the price down with the metal they have access to, they will.
INCREASED PRICE=INCREASED DEMAND
For Entertainment Purposes Only.

Re: Gold 2020
Reply #12
I too think gold has a little correction to face, mostly driven by algos and big banks trying to save face for the dollar and the shenanigans wrt monetary policy. The chart shows two sigma bands around gold price for 2 years and two horizontal support lines that are not particularly strong as volatility has been high. I do not think the price will drop below the lower band and if it should, it will probably be short lived as it was last March. From the chart, I do not envision gold going below $1575.


  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #13
I too think gold has a little correction to face, mostly driven by algos and big banks trying to save face for the dollar and the shenanigans wrt monetary policy. The chart shows two sigma bands around gold price for 2 years and two horizontal support lines that are not particularly strong as volatility has been high. I do not think the price will drop below the lower band and if it should, it will probably be short lived as it was last March. From the chart, I do not envision gold going below $1575.
I think we will see that this month. If it goes below that lower 15 number than it could crash, but not for long. This election cycle is going to reap violence.

Re: Gold 2020
Reply #14
There are some really large influences on election this time around. Evaluation of handling pandemic, bailouts for mismanaged states over the years having the crises giving cover for bad decisions, Trump's tough stance with foreign countries, and defacto endorsement of monetary policy stealing voter wealth (double digit inflation?) as cover for political mismanagement over the years by federal politicians. Those are emotional issues, particularly wrt the pandemic and folks w/o jobs have time to demonstrate and if they are hungry or have nothing to lose, do so violently. I think you are right, this summer and fall could see some serious rioting.