Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

mohsinqureshii

Gold Bullish or Bearish

Recommended Posts

Ill stop buying when they stop printing money. I'll continue to buy on weakness. This is a long term position, not a trade. Rather have gold than worthless dollars.

Maybe 2020 they will turn off the printing presses. :D

 

Central Banks wish your hyper-inflationary theory is correct. In fact that is what they are trying to do because they fear that they cannot prevent asset prices from falling. When all the gold bugs realize that the opposite of what they were expecting is occurring, we will see gold at $12 an ounce.

Share this post


Link to post
Share on other sites

For those Gold traders who consider fundamentals, there is a positive correlation between the gold price and FOOD prices. When there is food price inflation, the price of gold rises.

Now over the last week CORN has gone up big time because of drought conditions in parts of the USA.

Expect a correction in gold .......UP.

Caution. Corn is only a small part of the food chain . Not all foods are going up, so expect the gold correction to be small.

regards

bobc

 

PS Better still, BUY CORN Futures

Share this post


Link to post
Share on other sites

Gold has been following Silver's lead since the double top last Aug/Sept.

 

Gold made slightly higher swing high while Silver made a slightly lower swing high.

 

Silver having more practical uses in industry is falling with the slowing growth rate in the world economy. Nothing more complicated than that.

Share this post


Link to post
Share on other sites

The best analysis i've seen was by Cullen Roche at pragcap.com

 

Lots of folks still think many governments are printing to much money and somehow gold would be safer... (not sure why gold has more value than anything else if it is armagedden ;-).

 

There used to be a strong correlation of gold to US inflation, but not so much the past decade or so. Money creation doesn't necessarily lead to hyperinflation, and the US has been more in deflation, but gold still goes up.

 

it is because the demand for gold is from India and China. Watch the CPI in China and you'll see the most curent influence on gold prices.

Share this post


Link to post
Share on other sites

yes great chart to prove a point :roll eyes:......what happens when you put them on the same vertical axis.

 

I was unfortunately previously associated with someone who used to claim....

 

Gold is a great inflation hedge.....(and in the same breath)

If gold were to be inflation adjusted it would be worth $5000.

 

amazing when you change the horizontal axis as well to prove a point, or go back 100 years to show a short term trend.

Share this post


Link to post
Share on other sites
yes great chart to prove a point :roll eyes:......what happens when you put them on the same vertical axis.

 

I was unfortunately previously associated with someone who used to claim....

 

Gold is a great inflation hedge.....(and in the same breath)

If gold were to be inflation adjusted it would be worth $5000.

 

amazing when you change the horizontal axis as well to prove a point, or go back 100 years to show a short term trend.

 

It is funny to hear both, especially when it is from the same person, but I suppose your associate is right about the inflation adjusted price of gold. The comment about the inflation hedge is that it is the commonly used hedge against inflation. Gold and other precious metals are seen as being good stores of value. Inflation erodes value in intangible assets. Gold is a good store of value, but by no means is it a great or perfect store of value and, therefore not a perfect hedge against inflation.

Share this post


Link to post
Share on other sites

exactly.....how with a straight face you can say....

 

this instrument is a great hedge against inflation,

and then in the next breath say,

it is cheap - because it has been such a poor hedge against inflation in reality.

 

If you find chart to back your idea then its all good.....extend the chart or change the comparison.....different story

 

sales pitch, sales pitch, sales pitch.........:doh:

Share this post


Link to post
Share on other sites
weekly, daily, 4h..all bearish

 

 

(who cares about corn's future? its the same old corn) :roll eyes::cool:

 

Gold now trading at 1590,an increase of 1.76% for the day.:missy:

I suggested to my wife I close my position and we go out for supper.

Or I hold over the weekend and we have soup.:crap:

I wont tell you my decision. It could influence the gold price:haha:

regards

bobc

Share this post


Link to post
Share on other sites

What was today's high?

 

Oh that's right - right in the resistance zone I've mentioned repeatedly.

 

On the biggest volume in weeks. Looks like distribution to me.

 

Maybe it breaks it ..... and maybe it doesn't.

Share this post


Link to post
Share on other sites

Perhaps a buying opp will present itself. Who knows. No sign of the bailout easing, just throwing more printed money at the bad debt. Only means one thing for gold.

Up up up. 🎉🎉🎉

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.