Is gold set to run higher? | Metals Mine

  • Is gold set to run higher?

    From blog.hycmlab.com

    The recent run higher in gold looks set to continue based on the following reasons. 1. There are some very strong seasonals in play with the Chinese Lunar New Year approaching. See chart above. Gold tends to do very well at the start of the year and this point is being confirmed by the rise in ETF flows that are coming in at the start of the year. 2. Gold ETF flows start to rise again after bottoming out. The holdings in SPDR gold shares, which is the largest bullion backed ETF, grew by 17.2 tons on the first day of this week. That is the biggest amount of inflow since September. The last run higher in gold was ... (full story)

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Gwen11
Jan 8, 2021 12:17pm
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Erf... bad timing to post such an article... ;-)
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Trader#4FA1
Jan 8, 2021 12:43pm
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Quoting Gwen11
Erf... bad timing to post such an article... ;-)
Won't blame him not sure many saw this coming and those who did like me (many may have assumed a shallow drop given that spectacular gap up on New year open). It will stop (for now) about 1827 and everyone will need to recalculate their positions if caught off guard. One thing though we have the following average price lines a) weekly1887 b) monthly 1858 c) quarterly 1874 and annual 1806. Seems to me a (simultaneous) multi frame mean-reversion move that is driving this fall. Lets see where it stops circa 1806? Else we would be in reversal which does not sound likely at this stage. Massive drop though on the day.

The Crow (-_-)
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