Gold price made a new all-time high overnight of $1,945/oz breaking the old record of $1,920/oz set back in 2011. Price is currently holding above $1,930/oz and close to making July a record closing month as well if gold holds above $1,825/oz into August which looks likely. Price has been on a steady rise with bullish momentum since mid-2019 as indicated by the green and yellow candles after price broke above the red $1,400/oz resistance level. Price is currently breaking to new all-time highs on a yellow candle which indicates that there is bullish momentum volatility behind price, or extreme optimism by traders.
The Relative Strength Index(RSI) shows the green RSI line rising and trending above the purple signal line which indicates bullish short-term price momentum, with both lines rising and trending above the 50 level which is the midpoint of the total RSI range. An RSI reading above 50 indicates bullish intermediate-term price momentum while a reading below 50 indicates bearish intermediate-term momentum. The RSI currently shows bullish short and intermediate-term momentum for gold price.
The Price Percent Oscillator(PPO) shows the green PPO line rising and trending above the purple signal line which indicates bullish short-term price momentum, with both lines rising and trending above the 0 level. A PPO reading above 0 indicates bullish intermediate-term price momentum while a reading below 0 indicates bearish intermediate-term momentum. The PPO currently shows bullish short and intermediate-term momentum for gold price.
The Average Directional Index(ADX) show the green directional trend line trending above the purple directional line which indicates that the short-term trend direction for price is bullish. The histogram behind the green and purple directional lines is green and rising which indicates that the strength behind the bullish price trend is increasing. The ADX currently shows a bullish trend behind price.
The view this year has been bullish on gold with the expectation that price would make a new all-time high by year end, and now that price has officially set a new all-time high the view remains bullish going forward.
Current gold and silver stock/ETF holdings are: GPL, HL, EXK, AG, KGC, MUX, CDE, NGD, GDXJ, GDX.
The Relative Strength Index(RSI) shows the green RSI line rising and trending above the purple signal line which indicates bullish short-term price momentum, with both lines rising and trending above the 50 level which is the midpoint of the total RSI range. An RSI reading above 50 indicates bullish intermediate-term price momentum while a reading below 50 indicates bearish intermediate-term momentum. The RSI currently shows bullish short and intermediate-term momentum for gold price.
The Price Percent Oscillator(PPO) shows the green PPO line rising and trending above the purple signal line which indicates bullish short-term price momentum, with both lines rising and trending above the 0 level. A PPO reading above 0 indicates bullish intermediate-term price momentum while a reading below 0 indicates bearish intermediate-term momentum. The PPO currently shows bullish short and intermediate-term momentum for gold price.
The Average Directional Index(ADX) show the green directional trend line trending above the purple directional line which indicates that the short-term trend direction for price is bullish. The histogram behind the green and purple directional lines is green and rising which indicates that the strength behind the bullish price trend is increasing. The ADX currently shows a bullish trend behind price.
The view this year has been bullish on gold with the expectation that price would make a new all-time high by year end, and now that price has officially set a new all-time high the view remains bullish going forward.
Current gold and silver stock/ETF holdings are: GPL, HL, EXK, AG, KGC, MUX, CDE, NGD, GDXJ, GDX.