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Post by stockpicker on Dec 20, 2013 10:26:16 GMT 7
Gold has decided last night that it wanted to go lower after having broken the support as shown in the attached chart..
The chart showed that the neckline was broken after having formed the lower lows and lower highs cluster in April 13. It is due for recovery.. now that the Head and shoulder target is bleached, it will want to go down to test the 2 lower support.. as there is a lower lows and lower highs cluster formed, there is a high probability that Gold might want to extend the 3rd wave before completing the IV wave.
Gold is being used always as a hedge for Fed monetary policy.. if there is a injection of fund, Gold will rise and vice versa.. it would appear that Gold is not going along with the Fed monetary policy.. so is the US 10-year yield, which has risen over 1.4% to 2.938, the highest since Sept 13.
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Gold
Dec 20, 2013 11:18:25 GMT 7
Post by puregold on Dec 20, 2013 11:18:25 GMT 7
Devaluation of money does not seem to drive up the price of gold. The more central banks print money, the more Gold drops,  . From the valuation point of view, gold has even higher intrinsic value now?? |
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Gold
Dec 20, 2013 20:04:26 GMT 7
oldman likes this
Post by zuolun on Dec 20, 2013 20:04:26 GMT 7
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Gold
Dec 23, 2013 5:50:08 GMT 7
Post by zuolun on Dec 23, 2013 5:50:08 GMT 7
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Post by zuolun on Dec 25, 2013 6:14:39 GMT 7
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Gold
Dec 25, 2013 12:06:45 GMT 7
oldman likes this
Post by zuolun on Dec 25, 2013 12:06:45 GMT 7
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Gold
Dec 29, 2013 23:13:09 GMT 7
oldman likes this
Post by zuolun on Dec 29, 2013 23:13:09 GMT 7
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Gold
Dec 30, 2013 12:24:45 GMT 7
oldman likes this
Post by zuolun on Dec 30, 2013 12:24:45 GMT 7
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Post by zuolun on Dec 31, 2013 7:21:42 GMT 7
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Post by oldman on Jan 1, 2014 5:51:35 GMT 7
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Post by zuolun on Jan 1, 2014 11:32:05 GMT 7
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Post by zuolun on Jan 1, 2014 17:09:30 GMT 7
Gold Elliott Wave Technical Analysis — 27 Dec 2013  Spot Gold to revisit June 28 low of US$1,180.71 in 3 months — 3 Oct 2013
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Gold
Jan 2, 2014 5:08:13 GMT 7
Post by oldman on Jan 2, 2014 5:08:13 GMT 7
Appears that institutions are selling gold and consumers are buying them. When the worldwide economy tanks, I will not be surprised that consumers liquidate the gold that they have accumulated and gold will then collapse very rapidly. Hence, even if gold drops to US$1,000, I will still remain cautious as I fear this second round of dumping which will be much more drastic as I doubt institutions will rush to collect the metal.
Only time will tell if I read the gold market correctly.
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Post by zuolun on Jan 2, 2014 8:03:53 GMT 7
Appears that institutions are selling gold and consumers are buying them. When the worldwide economy tanks, I will not be surprised that consumers liquidate the gold that they have accumulated and gold will then collapse very rapidly. Hence, even if gold drops to US$1,000, I will still remain cautious as I fear this second round of dumping which will be much more drastic as I doubt institutions will rush to collect the metal. Only time will tell if I read the gold market correctly. oldman, I'm bearish on gold...its chart pattern looks like "The Flying Guillotine".   |
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Post by oldman on Jan 3, 2014 10:30:05 GMT 7
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