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Gold RIGHT NOW

  • #281
  • Jul 17, 2019 8:29pm Jul 17, 2019 8:29pm
Right now I see Gold being constant and Silver rallying, leading to a plunge in Gold/Silver ratio, which is largely along expected lines. Perhaps this is just the start of a larger trend.
  • #282
  • Jul 17, 2019 11:19pm Jul 17, 2019 11:19pm
Right now gold looks like a decent buying opportunity. Although it just retraced from earlier highs, the ~1421 support level held up nicely. If that support holds I think we could see gold rally overnight.

Support held up nicely. 15M chart:
Attached Image


Daily chart is looking like it's trying to test recent highs again:
Attached Image
We must learn who is gold, and who is gold plated
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  • #283
  • Jul 17, 2019 11:24pm Jul 17, 2019 11:24pm
Quoting EventsTrader
Right now gold looks like a decent buying opportunity.
Yep!

Trying to get in right now...
  • #284
  • Jul 18, 2019 2:32am Jul 18, 2019 2:32am
Quoting EventsTrader
Right now gold looks like a decent buying opportunity. Although it just retraced from earlier highs, the ~1421 support level held up nicely. If that support holds I think we could see gold rally overnight. Support held up nicely. 15M chart: {image} Daily chart is looking like it's trying to test recent highs again: {image}
Yup and in the second chart you posted, you can see Gold is trying to break-out and has a series of higher lows, making an ascending triangle.

Attached Image
  • #285
  • Jul 18, 2019 5:04am Jul 18, 2019 5:04am
Would really appreciate any advice on how to interpret the current situation on GOLD RIGHT NOW
Attached Image (click to enlarge)
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  • #286
  • Jul 18, 2019 5:05am Jul 18, 2019 5:05am
i think it is on side way. 1400-1430
  • #287
  • Jul 18, 2019 9:04am Jul 18, 2019 9:04am
Right now Gold is swinging between 1417 and 1419. I am playing the swings and patiently awaiting opportunities on each end of that range. General direction today feels downward.
If in doubt, paddle out!
  • #288
  • Jul 18, 2019 9:52am Jul 18, 2019 9:52am
Quoting SurfsUp
Right now Gold is swinging between 1417 and 1419. I am playing the swings and patiently awaiting opportunities on each end of that range. General direction today feels downward.
No more. Broke through and I am struggling to recover. Testing some resistance around 1423. Here's hoping the bears come out!
If in doubt, paddle out!
  • #289
  • Jul 18, 2019 12:02pm Jul 18, 2019 12:02pm
Quoting SurfsUp
Right now Gold is swinging between 1417 and 1419. I am playing the swings and patiently awaiting opportunities on each end of that range. General direction today feels downward.
Just out of interest, and if you don't mind sharing - what kind of tools/indicators are you using to play the swings?
  • #290
  • Jul 18, 2019 1:09pm Jul 18, 2019 1:09pm
Forgeting or getting TRADING aside, I still think GOLD is rather CHEAP atm.. to BUY it for (personal) RESERVES...
BUY and forget the price unless you would really need it.. Just to have some good FU position in life, some PEACE...
Have it LOCAL, physically. but also at least.. emergency fund somewhere "else

Trading wise.. gold renounced rather good today... but I wouldn't be fooled by the (trading) glamour just yet sine the USD might get
higher (slowly) by the day, specially maybe after much of the it's demise can be seen/verified after the "expected doomsday" at the end of the months, when FED
finally gives the GOLDEN decision
Can you afford to take that chance?
  • #291
  • Jul 18, 2019 1:29pm Jul 18, 2019 1:29pm
Gold is in rally mode and looks primed to make new highs. Here's the daily chart with the red line at previous highs earlier this month.
Attached Image
We must learn who is gold, and who is gold plated
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  • #292
  • Jul 18, 2019 1:35pm Jul 18, 2019 1:35pm
Quoting EventsTrader
Gold is in rally mode and looks primed to make new highs. Here's the daily chart with the red line at previous highs earlier this month. {image}
Yep, the higher lows we've been seeing make me suspect a breakout here.

As we know, bonds and gold are closely related. Gold (bottom) is coming up on resistance, but there's plenty of room above for bonds (top) to run. Without the bond resistance I think gold has a much better shot of heading higher.

Attached Image (click to enlarge)
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Self-sufficiency is the greatest of all wealth. - Epicurus
  • #293
  • Jul 18, 2019 1:38pm Jul 18, 2019 1:38pm
FED Williams: better to take preventative measures on rates than to wait for disaster to unfold


This is giving a solid boost to gold right now. It might even trigger and overnight rally up to the 1440 levels.
Through the light of enlightenment, darkness unveils the path of truth.
  • #294
  • Jul 18, 2019 1:57pm Jul 18, 2019 1:57pm
Quoting Vorenzd
FED Williams: better to take preventative measures on rates than to wait for disaster to unfold This is giving a solid boost to gold right now. It might even trigger and overnight rally up to the 1440 levels.
Agreed. He's a voting member too. Williams has historically been somewhat of a centrist, but slightly hawkish. That could be adding some extra fuel here. Very surprising statements from him.
We must learn who is gold, and who is gold plated
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  • #295
  • Jul 18, 2019 1:59pm Jul 18, 2019 1:59pm
I got this from a Bloomberg article not too long ago. It's useful when Fed members are speaking.
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We must learn who is gold, and who is gold plated
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  • #296
  • Jul 18, 2019 1:59pm Jul 18, 2019 1:59pm
Well gold seems to be playing out
  • #297
  • Jul 18, 2019 2:06pm Jul 18, 2019 2:06pm
Goooooooooold!!
  • #298
  • Jul 18, 2019 2:09pm Jul 18, 2019 2:09pm
Quoting EventsTrader
I got this from a Bloomberg article not too long ago. It's useful when Fed members are speaking. {image}
That's very useful, thanks for sharing!

Quoting EventsTrader
{quote} Agreed. He's a voting member too. Williams has historically been somewhat of a centrist, but slightly hawkish. That could be adding some extra fuel here. Very surprising statements from him.
Yeah, exactly, this is the kind of thing i'd expect to hear from Bullard, and when he says it it usually doesn't have much impact... but when Williams said it it should have a much greater impact simply because it differs from his general stance on monetary policy. And we're in a time of great uncertainty


Just look at this... the markets are pricing in a 60% chance for a 50bps rate cut... which doesn't sound quite right to me... that's why if we see a 25bps rate cut we might even see gold fall on the release of such data.
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Through the light of enlightenment, darkness unveils the path of truth.
  • #299
  • Jul 18, 2019 2:16pm Jul 18, 2019 2:16pm
Quoting Vorenzd
{quote} That's very useful, thanks for sharing! {quote} Yeah, exactly, this is the kind of thing i'd expect to hear from Bullard, and when he says it it usually doesn't have much impact... but when Williams said it it should have a much greater impact simply because it differs from his general stance on monetary policy. And we're in a time of great uncertainty Just look at this... the markets are pricing in a 60% chance for a 50bps rate cut... which doesn't sound quite right to me... that's why if we see a 25bps rate cut we might even see gold fall...
Wow, thanks for sharing. I was just looking at the CME watchtool a few hours ago and it was 30% for 50bps and 70% for 25bps. Things certainly have changed!

You're probably right about gold falling on a 25bps cut. The thing is, we might get a 25bps cut AND the Fed announcing an early end to the balance sheet runoff so gold could still rally in that case. Also, if they hint at a lower rate path going forward gold could take off. The next FOMC meeting will be tough to trade. I'm looking to fade a 50bps cut and bet on 25, but I'll probably trade the 30 day Fed Funds Futures instead. That way I won't have a problem if the Fed does a dovish 25bps cut.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #300
  • Jul 18, 2019 2:22pm Jul 18, 2019 2:22pm
Quoting Vorenzd
Just look at this... the markets are pricing in a 60% chance for a 50bps rate cut... which doesn't sound quite right to me... that's why if we see a 25bps rate cut we might even see gold fall on the release of such data.
That is absolutely unbelievable. Since you posted that it's even gotten more in favor of the 50 basis point cut at 64.8%. I'm shocked and still don't see the case for it. I predict next week we will regress to the mean. Things will normalize. Moves in gold and the USD will probably occur prior as the market prices in/out the cut. On the release, I'm not sure what to expect yet. It will depend on where the market is at with these expectations.
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We must learn who is gold, and who is gold plated
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