GOLD

[dumbass]

there was a nice long entry on gold last few days , looks like a triangle may have printed with heavy support area and a morning star candlestick pattern

double long position on , will see how price develops to determine target.

[dumbass]

i cant quite put my finger on it but im a little sceptical about the strength of this move higher, no target and will bail when it turns lower.

triple bottoms have a slightly fragile look to them, its just too transparent where the stops will be, but profits are the name of the game.

[Pumice]

This could go either way, I'm looking at a short position if it breaks below 1500 myself.
uptrend has lost momentum,.

[Valuegrowth]

Some of the biggest gold investors and gold reserve holders may sell gold to overcome current financial pressure from lower oil prices.

Big gold investors like Russian Central Bank may sell gold to save rouble

The biggest gold investors such as China and Russia may sell their gold reserves to overcome temporary financial difficulties.

DYOR.

[Daytr]

Same BS that's been circulating for months. For Russia gold has been one of their best investments.
China, what crisis?

[pak]

To me looks like gold is now forming a pennant on the daily chart. In which case another strong uptrend is increasingly likely in the coming weeks. Maybe its waiting for a trigger like another breakdown in oil prices. Been trading this short term lately both long and short with a lot of success but now waiting on some sort of comfirmation. Keen to hear other thoughts.

[wizAlvin]

gold indecision type candle at the highest ever price


silver indecision type candle

[Daytr]

gold indecision type candle at the highest ever price


silver indecision type candle

Reasonable correction with Mid / East tensions easing. I still think most of gold's gains are still to come, once the US eases rates.

[FTG]

A misconception held by many is that the POG always moves in the inverse direction to LT IR's. I wonder if this belief derives from another even greater misconception? The one in which folk believe that the POG only increases during inflationary periods, and decreases during deflationary periods.

When pulling back and looking at the longer term picture, charts clearly show that the POG often entirely invalidates the mainstream narrative. The following chart (courtesy of goldchartsrus) perfectly portrays the actuality.

POG chart.jpg

[Daytr]

Yep agree thought the same thing yesterday.