All of the above imo.Was the spike in POG overnight a direct response to inflation numbers, or USD moves, or did they move at the same time?
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I am not a technical short term trader but from what I head Gold was in a cup and handle pattern and was poised to breakout soon.Fair call. Interesting prospective, looking at the negatives, may be to early to say but things look to be moving in a positive direction. Certainly expect some down turn early in terms of movement, but I'm hoping bullish momentum should carry on though for the month.
thinking of buying some lots on the next swing up? See how it pans out, but as you say it could well be exhausted...
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The only people to my knowledge who trade on a cup and handle pattern are on hotcopper. From my knowledge of charting specialists attached to large funds the cup and handle is a bit of a joke as a set up. As is the shoe and sock, and the Amber and Johnny.I am not a technical short term trader but from what I head Gold was in a cup and handle pattern and was poised to breakout soon.
HIstorically gold has gone down with stocks in recession times as everything is sold down but does a big recovery when financial market condition somewhat improve (usually with some loosening of credit and when money printing starts.)
in addition, the "free markets" are a basket case now and theres a lot of manipulation going on with paper gold. So it really makes it hard to predict what happens next.
you are right about gold going up during recessions. I should have said during start of recession gold can go down together with other assets as there is a general sell-off but yeah as the recession goes on, money will generally find its way to gold as investors look for a safe haven.The only people to my knowledge who trade on a cup and handle pattern are on hotcopper. From my knowledge of charting specialists attached to large funds the cup and handle is a bit of a joke as a set up. As is the shoe and sock, and the Amber and Johnny.
Also with respect, gold does not go down with recessions, gold stocks do go down with the market, but not gold bar.
I would agree about the paper markets, though when all else about you are losing their heads, then is the time to make a profit. I see other people losing their heads and their money as opportunity.
gg
Wonder where the money from digital gold is going
As in those who have just lost their shorts? Or, others on the side line waiting to deploy capital?
Thanks @bluekelahyou are right about gold going up during recessions. I should have said during start of recession gold can go down together with other assets as there is a general sell-off but yeah as the recession goes on, money will generally find its way to gold as investors look for a safe haven.
Along this line of reasoning, given the 99% surety that we are in a global recession + hyperinflation => Stagflation. Isnt it a no brainer to be hoarding gold as the price dips with crashing markets, before everyone else tries to get it? I really dont see how the FED can dig its way out of both inflation and recession this time.
There was never ever CashAs in those who have just lost their shorts? Or, others on the side line waiting to deploy capital?
With Due Respect gg
What is the use of GOLD?
ie: What is it good for?
Ie; Why would anybody want it?
There are so many other things I Want in Life Much More Than Gold!
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To quote Publilus Syrus, whom I am sure you have heard of.With Due Respect gg
What is the use of GOLD?
ie: What is it good for?
Ie; Why would anybody want it?
There are so many other things I Want in Life Much More Than Gold!
View attachment 142841
Great points. I have one thing to add regarding America. Their debt levels have hit ~30.5 Trillion this may 2022. Simple math says 10% rates means 3 trillion. 1 % rate hike means 300billion in interest repayments. FED is indicating they will be probably 2% by year end? thats 600billion interest bill for the treasury to pay!! and at 3% thats 900billion++!! With already a massive budget deficit, probably made worse now that they have to spend more to try cushion the coming big recession, I do not see how they can afford even a 5% rate hike.Thanks @bluekelah
It depends on many fundamentals.
I believe it is a no-brainer and have been accumulating Gold. I did sell my gold stocks when the market in the US started turning against my liking.
Gold will appreciate if the war in Ukraine continues. It will be negative for Gold if one side wins decisively.
Gold will appreciate if the Republicans win the mid-term elections, as we are looking at having the Bronze Loon Trump back in power and every proud boy between Maine and Monterey shooting children in class.
Gold will appreciate in AUD as the USD strengthens, unless the Yuan becomes stronger as a possible global currency.
Inflation will get worse and I see no reason why rates won't reach 10-12% as people in the West are conditioned to spend by the televisions and the internets. So the economy won't grow, people will still spend and the government will stop printing money.
And I will hold Gold which in a year or two which I believe will be well over $AUD4500 per oz.
Oh and gold stocks, don't forget those, watch for an upturn but I don't believe myself it is yet.
gg
Nobody wants gold and money they just want thehookershappiness it buys
With Due Respect gg
What is the use of GOLD?
ie: What is it good for?
Ie; Why would anybody want it?
There are so many other things I Want in Life Much More Than Gold!
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AUD Gold still at a relatively healthy $2,637as I was just saying, Gold will follow markets down like in march 2020. SnP500 is down 3.7% now, and gold is down 2%, damn its gonna be a brutal week
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