watch for move above trends and any top above 168 that may sustain.
GLD has been on our bull list for the past year because gold bull markets are generally robust when they are thematically well-supported (by negative real interest rates and currency debasement) and underappreciated in terms of CFTC data in gold futures. Both of those factors continue to line up well. So, we continue to be fans.
Gold priced in Aussie Dollar, Yen, and Euro all well above their respective 2011 or 2013 highs. With all the "dismantling" of the US dollar talk - a weak dollar would certainly aid Gold's move to new all-time highs. For the past 2.5 years, we've seen a strong dollar and strong precious metals market. USD rolling over, could be the boost this space needs..
Gold closed at $1,780.3/oz this week which is the fourth highest weekly closing price in history. The highest weekly closing price was $1,876/oz set in August 2011 and the second highest weekly close was $1,788/oz set in November of 2011. The third highest weekly close was $1,780.8/oz in October 2012 which is jut .50c above where gold closed this week. If gold...
I am not presently in a gold trade, but I am watching it out of interest, to see if its price falls when the markets do (as I expect them to), just as it did in February and March. My hypothesis is that the economy is attempting to deflate at the end of a very long credit cycle, and that that process was arrested by Fed intervention. What I see on the charts is...
$GLD daily chart showing its markup phase after a multi-year accumulation.
Silver trapped in a range for Options with Straddles, Strangles and IC or BWB plays over next few days. A breakout or drop will happen with inverse correlation with SPY. If XAUUSD breaks to new highs (1790?) then see XAGUSD and SLV lag by a few days/hours as well...
💰 LET'S GET INTO SOME GOLD ANALYSIS!💰 1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤ (Overall Market Sentiment) 🐮 Bullish - Weekly Chart - Green Engulfing Candle - 3/3 EMA DOTS Green As of now we are still bullish based off the current indicators status. We need to keep in mind though that we are reaching the top of the...
Copper vs. Gold is an intermarket ratio highly correlated to US10Y. Inverse is true of Gold vs. Copper being highly correlated to Bond prices. Looking to commodities to gain insight into the direction of US T-Bond futures. So far nothing to write home about..
Taking Short AMEX:GLD Target $140 - 130 price range Reasons: RSI convergence over MACD signal cross
Ascending Wedge blows past previous peaks and form stronger higher highs. Wed show 1830 by July 20 to Aug 10 timeframes. GLD XAUUSD /GC
Showing strength for XAUUSD above 1780
Gold (USD) daily- $1,800 and $1,923 target levels.