bride85
Long

Gold is in a minor correction before going above $1400

FX:XAUUSD   Gold / U.S. Dollar
93 1 2
Not much to say here really, anyone with half an brain can see the global macro trend on growth is indeed really slowing down if not come to an halt, so how is Fed gonna raise rate? so many CBs             are lower their rate based on their country's economic recession, what makes the US differently? please don't lose sight that the US is the world's largest debtor, they doing OK its only based on the dollar reserve currency status. and we can see many signs that countries is abondoning the dollar and move in to a new type of Gold             standard (digital based)
so it would make much sense that everyone wants a lower gold             price cuz             they want to accumlate as much as possible before the next global systemic collapse, and Gold             ( silver             ) is the only insurance out there to protect one's wealth(or nations), CBs             are the net Gold             buyer really proves it...
so don't focus too much on daily price movement(volatilities indeed increasing) rather look at the big fundamental down the road (10-30+ yrs)
Comment: well, we'll continue to see Gold rally, much CBs easing coming, QQE, NIRP, chopper money, etc....
we should expect price moving above $1400 easily by year end, possibly even above $1500 given the uncertainty of US election.

watch closely on USDCNY, further the RMB depreciated, more bullish for Gold because of the newly open Shanghai GOLD, when Rmb goes down, Gold priced in RMB goes up, the london and NY price has to match up with Shanghai....

so now the dollar has less impact on the price of GOLD, it will become lesser and lesser....it will come a day what influences the price of gold will be on the value of RMB....
the October to December decline is just ppl priced in the rate hike, but Gold took off as soon as the Fed raise their rate over 7+yrs, we have similar situation right now...but based on macro economic condition, Gold will go much much higher...
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out