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Re: Long-term chart

By: micro in GOLD | Recommend this post (0)
Thu, 02 Jun 22 2:29 PM | 228 view(s)
Boardmark this board | Gold 		Msg. 00016 of 00028
(This msg. is a reply to 00015 by Decomposed)
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Hi De!

You are officially "The GOLD Standard" ! lol!!!

Seriously, the chart is a great place to begin. I will point oiut that gold has risen $600.-$700 in 4 years.. Considering that it was around $1200 in 2018 that's not a BAD Rate of return

Around 32 percent over 4 years. That is 8 percent per annum.
That said, its expensive to get into because of the cost per ounce . Zim might could buy 100 ounces as an initial buy but he has wisely invested in sticks that pay dividends, which is the gift that keeps on giving.. I like that move..

I do not own gold or silver.. I have thought about it but can't quite seem to pull the trigger...

I am guaranteed a minimum 7 percent annual increase on my investments.. It matters not what the markets do, its seven percent per annum at the low end.


So, with these things in mind, as the resident Gold investor and researcher, WHY should someone BUY GOLD and what do you do with it if you buy Physical gold when you want to sell it?

I mean, I can't go to the store and use Gold coins to pay for things.. And I need to worry that my own government would likely try to confiscate my physical gold as it has become more of a tyranny than a government.


Anyway, I have bookmarkeed tis site and look forward to reading more.. As you know, I am not a huge poster due to time constraints.

Best wishes on this new board De !!

micro...


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The above is a reply to the following message:
Long-term chart
By: Decomposed in GOLD
Thu, 02 Jun 22 1:00 PM 		Msg. 00015 of 00028

I'll start here, with gold's 30-year chart. Does it show a pending breakout? I think so. In fact, I'd say it already DID break out, hitting a new high in 2020. But the chart is anything but usual. How could the metal break through NINE YEAR resistance but have such weak momentum that it promptly fell back again? Perhaps due to manipulation. You'll recall that in 2020, a vast sum of money was printed and used to prop up the stock market. Investors who might have otherwise been tempted to put money into gold took advantage of that opportunity instead. In fact, gold repeated its head fake in 2022, topping at the same level it did in 2020. That's a double top. As any technical analyst worth his salt could tell you, double tops are common but triple tops are exceedingly rare - so the next time gold gets into the ~$2050 range, it SHOULD break through substantially, for real.

But that's based on T.A. A technical analyst worth his salt would also tell you that T.A. takes a back seat to fundamentals. It's a good tool, but the fundamentals should always come first. It's something to keep in mind.

With gold, the main fundamental that has to be kept in mind is the outlook for the U.S. economy. Since dollar strength is a proxy for the economy, its outlook inversely correlates to gold's. I'll post more on these topics as well. But not today. I've got some reading to do.

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