Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

mohsinqureshii

Gold Bullish or Bearish

Recommended Posts

Analysts Look For Gold To Consolidate Next Week Ahead Of FOMC Meeting

 

Friday January 23

 

Gold prices have ended another week with gains, but according to some analysts, a rally next week could be limited as more attention is focused on the Federal Reserve and the U.S. economy.

 

Howard Wen, commodity analyst from HSBC, said that because of its strong momentum, gold prices do have room to move higher, but he is expects the market to see a bit of consolidation after what has been a strong start to the year.

 

“Gold is still up more than 9% in the first three weeks of the year,” he said. “A consolidation period is expected at some time.”

 

Although gold and silver ended Friday in negative territory, they still held key support levels that some analysts suggest will be positive for the metals next week.

 

Ole Hansen, head of commodity strategy at Saxo Bank, said that gold should maintain its momentum as long as it holds above the 200-day moving average, which now comes in at $1,256.40 an ounce.

Share this post


Link to post
Share on other sites
:hmmmm:

 

More self evident desperation by bulls to hold 1203-1200 zone:

 

AGREE.

And while the stock market continues to make new highs, GOLD will stagnate..

Just one warning,.Greeks are hoarding Euros ....... and Gold.

Regards

bobc

Share this post


Link to post
Share on other sites
AGREE.

And while the stock market continues to make new highs, GOLD will stagnate..

Just one warning,.Greeks are hoarding Euros ....... and Gold.

Regards

bobc

Not in their banks though.

 

But the Greeks could buy all the gold that they can hoard. Still won't help this this :puke: from happening.

 

:)

 

IMO $950 level is still calling.

Share this post


Link to post
Share on other sites

The papergold this thread is about is currently way hooked up with JPY... ie (for any ‘plain speak challenged’ readers) it’s “highly correlated” .

So, what is “desperate market” about that?

Or How many more “desperate players” ( weak hands, etc.) are "desperate" than usual ?

 

... and Who in their right mind wants it to stay so high anyways?

...real bulls want it lower. ... the lower the better...

... and for the real bears, Martin Armstrong is back (and what did not kill him made him stronger) so relicgold at $285 is inevitable ...

...So, Sun, I still think an explanation of the word “desperation” would be helpful.

(Without explanation it might be taken a new technical term defined as support provided by horizontal trend lines that deliver the same quality of support as jet vapor trails to start with ...? etc ? etc.?) Thx

 

...and jmo BobC, papergold as a rule could not care less about who is “hoarding” gold.

... and more jmo, papergold doesn’t care quite enough even about who is lending or borrowing gold...

Share this post


Link to post
Share on other sites

That's a good answer -

to a different question.

 

So

"Desperately tried to hold support"

becomes

"Searching for why tried to hold support" ??

 

"More self evident desperation by bulls to hold 1203-1200 zone"

becomes

"More self evident searching for why by bulls to hold 1203-1200 zone" ??

 

Question remains - Where is the "desperate" on those charts?

 

Would not have questioned the use of milder "technical" /"chart" terms to insert some extra "why" into the posts... like for example '(It) disappointedly tried... ' and '...self evident disappointment' ...

Share this post


Link to post
Share on other sites

... primarily for the benefit of chart noobs ...

 

Re: “Desperate are those searching for why when the chart tells why/when/how.”

Charts are one possible way of representing bhvr of human ‘crowds’ ... and whether we like to acknowledge it or not, there is always a “why”. The bhvr of human ‘crowds’ is the central “why”. For the chart technician, it’s the only necessary “why”. ‘ Voice of trading’ chartist proponents as a rule unconsciously guide noobs into developing an illusion that there are no ‘whys’ to be aware of ...by sending the brains to focus on the chart instead of the human bhvrs that generate the basis for charts and other visual representations... Point is: that way is good only for a few - and not the many as some chartists would have us blve...

 

...

 

Since no good explanation for the use of the term “desperate” seems to be forthcoming let me go a little further and partially explain why I questioned its use.

‘Technically’*, there is often not much fight in herded bulls after the near parabolic, narrative based run-up like in late Jan. Not much fight means they can’t generate very much to be “desperate” about. So, pricechartwise, those blue horizontal lines mark/provide no more possible ‘support’ than jet vapor trails in the sky would... etc.

The strong handed bulls don’t even have to be ‘concerned’ until the 1160’s...

Permabulls are in physicals and are hedging with papergold, etc. etc...

...

in quick summary, very few bulls are “desperate” at this time - so the use of the term is questionable and could just be possible unnecessary spin** ...etc etc.

 

 

 

 

 

 

* and by god I’m using that ‘Technically’ term loosely - since we’re making “desperation” and “disappointed’, ’concerned’ etc. into ‘technical’ / chart terms ...

 

** ...and yes, some things could be said about spinning this kind of ‘CNBCese speaky’ into our posts - but we certainly can’t single out just SunBurst on this because we’re all guilty of it at one time or another ...and via the ‘internet’ that would just be pickin a fight.

The purpose is not to condemn “shorthand” either... look what damppenguin has to do to avoid it. See http://www.traderslaboratory.com/forums/wyckoff-forum/19107-trading-sla-amt-intraday-5.html#post196677

The purpose of my posts is to question questionable “shorthand”. So, for the benefit of the noobs, an explanation of “desperate” would still be appreciated

Share this post


Link to post
Share on other sites

“…The serious artist is the only person able to encounter technology with impunity just because he is an expert aware of the changes in sense perception… ” M. McLuhan

Share this post


Link to post
Share on other sites

“…The serious artist is the only person able to encounter technology with impunity just because he is an expert aware of the changes in sense perception… ” M. McLuhan

 

 

 

 

 

 

 

http:/CNBC.com/desperate-charts-suggest-sub- $1000-Gold-is-likely/

Thank you CNBC, suntrust, and BobcTwns for the great and helpful explanations.

You are the best lab partners EVER!

Now we understand. It really is best to be one of the entranced apathetics who swallow anything.

 

 

 

 

 

 

 

no promotions and links (we will monitor all threads)

http://www.traderslaboratory.com/forums/search.php?searchid=982824

Share this post


Link to post
Share on other sites

Gold Could Fall Next Week On Yellen, Tentative Greece Deal

Friday February 20.

 

Gold prices could see some more pressure in the near-term as the market ends the week in negative territory.

 

According to some analysts, last-minute reports of a potential agreement between Greece and its European creditors caused gold prices to end in negative territory for the fifth consecutive week. However no official announce has been made; a press conference is scheduled for 3 p.m. EST.

 

Comex gold futures settled Friday’s session at $1,204.90 an ounce, down $22.60 or 1.84% for the week.

Share this post


Link to post
Share on other sites

quick little break time from the chart 'technicals' and crowd 'sentimentals'...

 

It's advisable to crinkle your foil hat securely around your whole cranial region before reading... suspends the trance

Then please be on the watch out for treacherous ideas within

 

A Salvo in the Battle for the Gold Standard | Zero Hedge

 

We now return you to your regularly scheduled programming

Share this post


Link to post
Share on other sites

Gold Futures End Four-Week Losing Streak, Analysts See $1,200 Holding Next Week

Friday February 27

 

An early morning rally following a drop in fourth-quarter GDP growth, and disappointing manufacturing data from the Chicago region, helped gold prices end the week in positive territory, capping a four-week losing streak, according to some analysts.

Share this post


Link to post
Share on other sites
Opps, I've fallen and I can't get up - above $1200

 

Too many resistance on the way up, 1202/1207/1214. They need to be broken in 1 move to take this metal to the 1230-40 zone.

Share this post


Link to post
Share on other sites
Came close to daily S3 level and more than 100% of yesterday's range so a "oversold" bounce was expected.

 

Correction now underway and probably ending around 1180 area.

Should said ending, at most, 1180.

 

But its been so weak lately it only made it to 1170. :doh:

 

:)

Share this post


Link to post
Share on other sites

We now interrupt your technical programming...

 

The dollar is now “strong” and PM’s are ‘weak’ . But are PM’s really ‘weak’ ? Will an oz of gold still purchase pretty much what it always did in goods and services? Over decades and decades , has it lost anywhere near the purchasing power the USD, etc. has lost? The dollar is now “strong” and gold is ‘weak’ - but only if you have a very short memory or limited knowledge and understanding.

 

Have you held an oz of gold in your hands lately? It takes 1200 USD to buy that? I’m thinkin that one can buy 1200 USD with one little oz of the stuff says far, far more about the dollar (or whatever fiat/debt currency you’re ‘swapping’) than it does about gold.

 

Like - instead of at 2000 decibels, now it only screams at 1200 decibels in the canary mine. But that is still screaming bloody (money) murder.

 

Each of us is either pretending or not pretending that our (worthless) paper currencies have not lost any value since the exchange taxation / assassination / demonetization of PM’s. Each of us is either in denial or not in denial. Each of us is either herd supporting a lie, a fraudulent paper PM market, a ‘matrix’ of sorts - or NOT.

 

Just saw where Pension Benefit Guaranty Corporation says their guarantees of funds are uncertain / at risk / just may not be possible in over 50% of the un(der)funded pensions in the US. That, played on out, is how this fiat, keynesian rip-off , ultimately gets you - blatantly. If you are younger and paying/saving into this system, you are REALLY getting ripped off by unnoticable little bits and pieces every day.

 

...paraphrasing Francisco’s “money speech” in Atlas Shrugged - PM’s are an objective value, an equivalent of wealth produced. Fiat paper is a mortgage on wealth that does not yet exist, backed by a gun aimed at those who are expected to produce said wealth into existence. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it becomes marked: ‘Account overdrawn.’

 

Fwiw, for me re ” Gold Bullish or Bearish "

I have been bearish gold for years now in terms of silver. Over the years I have swapped gold for silver and just recently ‘finished’ - now (except for a selection of gold coins I want to keep) I’m entirely out of physical gold, entirely into physical silver (which has its own set up practical hassles, btw)

In terms of fiat, re ” Gold Bullish or Bearish" - I could not care less.

 

We now return you to your regularly scheduled technical analysis...

Share this post


Link to post
Share on other sites

Gold is a commodity.

All commodities closely follow the laws of supply and demand.

When prices rise, supply enters the market.

Historically, or normally, supply was physical, but we no longer live in normal times or we have a new type of normal. There are more ways to get involved in PM than one can list; most of which are paper gold that does nothing more than mimic the price of gold. More people have access to PM than ever before and that leads to bigger and deeper bull and bear cycles. Since we have seen the last sucker who bought, we are now looking for the last sucker who sold as we work through this incredibly oversupplied market. We are a long time away from the bottom. At this point we can expect gold to drop to lows not seen in at least a decade. A guess would be somewhere near $500 an ounce.

Share this post


Link to post
Share on other sites
well according to the history

... it seems that investing in gold still a better option :)

 

:helloooo:

 

"investing"

There’s that word again :)

 

gold is never a good investment

it is only rarely even among the best trades

its best purpose is as a (relatively) physically secure, easily transact able, etc. etc. store of (un-invested) wealth

 

 

:spam:

You Think You're An Investor? I Think Not | Zero Hedge

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • Thx for reminding us... I don't bang that drum often enough anymore Another part for consideration is who that money initially went to...
    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • How long does it take to receive HFM's withdrawal via Skrill? less than 24H?
    • My wife Robin just wanted some groceries.   Simple enough.   She parked the car for fifteen minutes, and returned to find a huge scratch on the side.   Someone keyed her car.   To be clear, this isn’t just any car.   It’s a Cybertruck—Elon Musk's stainless-steel spaceship on wheels. She bought it back in 2021, before Musk became everyone's favorite villain or savior.   Someone saw it parked in a grocery lot and felt compelled to carve their hatred directly into the metal.   That's what happens when you stand out.   Nobody keys a beige minivan.   When you're polarizing, you're impossible to ignore. But the irony is: the more attention something has, the harder it is to find the truth about it.   What’s Elon Musk really thinking? What are his plans? What will happen with DOGE? Is he deserving of all of this adoration and hate? Hard to say.   Ideas work the same way.   Take tariffs, for example.   Tariffs have become the Cybertrucks of economic policy. People either love them or hate them. Even if they don’t understand what they are and how they work. (Most don’t.)   That’s why, in my latest podcast (link below), I wanted to explore the “in-between” truth about tariffs.   And like Cybertrucks, I guess my thoughts on tariffs are polarizing.   Greg Gutfield mentioned me on Fox News. Harvard professors hate me now. (I wonder if they also key Cybertrucks?)   But before I show you what I think about tariffs… I have to mention something.   We’re Headed to Austin, Texas This weekend, my team and I are headed to Austin. By now, you should probably know why.   Yes, SXSW is happening. But my team and I are doing something I think is even better.   We’re putting on a FREE event on “Tech’s Turning Point.”   AI, quantum, biotech, crypto, and more—it’s all on the table.   Just now, we posted a special webpage with the agenda.   Click here to check it out and add it to your calendar.   The Truth About Tariffs People love to panic about tariffs causing inflation.   They wave around the ghost of the Smoot-Hawley Tariff from the Great Depression like it’s Exhibit A proving tariffs equal economic collapse.   But let me pop this myth:   Tariffs don’t cause inflation. And no, I'm not crazy (despite what angry professors from Harvard or Stanford might tweet at me).   Here's the deal.   Inflation isn’t when just a couple of things become pricier. It’s when your entire shopping basket—eggs, shirts, Netflix subscriptions, bananas, everything—starts costing more because your money’s worth less.   Inflation means your dollars aren’t stretching as far as they used to.   Take the 1800s.   For nearly a century, 97% of America’s revenue came from tariffs. Income tax? Didn’t exist. And guess what inflation was? Basically zero. Maybe 1% a year.   The economy was booming, and tariffs funded nearly everything. So, why do people suddenly think tariffs cause inflation today?   Tariffs are taxes on imports, yes, but prices are set by supply and demand—not tariffs.   Let me give you a simple example.   Imagine fancy potato chips from Canada cost $10, and a 20% tariff pushes that to $12. Everyone panics—prices rose! Inflation!   Nope.   If I only have $100 to spend and the price of my favorite chips goes up, I either stop buying chips or I buy, say, fewer newspapers.   If everyone stops buying newspapers because they’re overspending on chips, newspapers lower their prices or go out of business.   Overall spending stays the same, and inflation doesn’t budge.   Three quick scenarios:   We buy pricier chips, but fewer other things: Inflation unchanged. Manufacturers shift to the U.S. to avoid tariffs: Inflation unchanged (and more jobs here). We stop buying fancy chips: Prices drop again. Inflation? Still unchanged. The only thing that actually causes inflation is printing money.   Between 2020 and 2022 alone, 40% of all money ever created in history appeared overnight.   That’s why inflation shot up afterward—not because of tariffs.   Back to tariffs today.   Still No Inflation Unlike the infamous Smoot-Hawley blanket tariff (imagine Oprah handing out tariffs: "You get a tariff, and you get a tariff!"), today's tariffs are strategic.   Trump slapped tariffs on chips from Taiwan because we shouldn’t rely on a single foreign supplier for vital tech components—especially if that supplier might get invaded.   Now Taiwan Semiconductor is investing $100 billion in American manufacturing.   Strategic win, no inflation.   Then there’s Canada and Mexico—our friendly neighbors with weirdly huge tariffs on things like milk and butter (299% tariff on butter—really, Canada?).   Trump’s not blanketing everything with tariffs; he’s pressuring trade partners to lower theirs.   If they do, everybody wins. If they don’t, well, then we have a strategic trade chess game—but still no inflation.   In short, tariffs are about strategy, security, and fairness—not inflation.   Yes, blanket tariffs from the Great Depression era were dumb. Obviously. Today's targeted tariffs? Smart.   Listen to the whole podcast to hear why I think this.   And by the way, if you see a Cybertruck, don’t key it. Robin doesn’t care about your politics; she just likes her weird truck.   Maybe read a good book, relax, and leave cars alone.   (And yes, nobody keys Volkswagens, even though they were basically created by Hitler. Strange world we live in.) Source: https://altucherconfidential.com/posts/the-truth-about-tariffs-busting-the-inflation-myth    Profits from free accurate cryptos signals: https://www.predictmag.com/       
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.