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Re: Gold 

By: Decomposed in POPE 5 | Recommend this post (1)
Wed, 07 Aug 19 5:36 AM | 36 view(s)
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Msg. 37397 of 62138
(This msg. is a reply to 37390 by Decomposed)

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If you look at the chart below, you may notice that gold is a little below $1,500 right now, that it is in an uptrend, and that nothing whatsoever of note happened the last time it was at $1,500. That's one of the reasons to think that gold's uptrend will continue for a while. The charts provide no technical reason why anyone should expect the trend to end.

In September 2012, gold tried but was unable to break through $1,750. $1,750 is therefore the most meaningful resistance point that technical analysis can identify. Several months earlier, gold found SUPPORT as it fell to $1,546. Since past support points also tend to be future resistance points, this is the second place where I might expect to see gold's uptrend stall. I wouldn't, however, expect $1,546 to put up much of a fight.

That's the ten-second T.A. tour. IMO, T.A. should always take a back seat to FUNDAMENTALS when making investment decisions. Trump might negotiate an end to the trade war. A shooting war with Iran might break out. A Democrat might be elected. Those are all fundamental reasons why gold might soar or collapse, and there's a limitless supply of them. Fortunately, in the very long run, the fundamentals for gold are also extremely bullish. U.S. currency is based on nothing but hope and promises. Those things will be seen for what they are one day and the dollar will assume room temperature, where it rightfully belongs. Gold's value in dollar terms is therefore infinite. Relative to most other items, it is also severely undervalued.




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: Gold
By: Decomposed
in POPE 5
Wed, 07 Aug 19 5:08 AM
Msg. 37390 of 62138

Gold hit $1,490 a couple of hours ago.


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