Gold A "Safe Haven" In This Market Decline?

so frustrated with GC! It just doesn't move1 Should I bail now? I feel like the breaking point is coming... Yet it doesn't come..
 
trader99 said:
so frustrated with GC! It just doesn't move1 Should I bail now? I feel like the breaking point is coming... Yet it doesn't come..
More...


gold day range has been rather bad.
It can hardly exceed 80 ticks day range.

Index futures have much better day range.
 
trader99 said:
so frustrated with GC! It just doesn't move1 Should I bail now? I feel like the breaking point is coming... Yet it doesn't come..
More...
Only you can answer the question as it depends upon an individual's circumstances and what they want to do with their trading style.
Gold has been a pig to trade since approx mid 2011, so that's 9 years, however as previously mentioned it usually manages a rally around Christmas/January.
A catalyst for a run is most likely a fall in USD but that is staying strong due to Fed's insistance on raising interest rates. Trump is attempting to convince them otherwise which I agree with, Fed is being too ambitious in too much of a hurry imo.
I think even a small fall in USD should see gold rally.
Next Fed meeting is Dec 18 & 19th.
The Rupee (INR) which is often viewed as a bellwether continues to gain strength after a nasty pullback but the bounce may just be a reactive correction from being oversold.
US gold companies atm certainly not looking optimistic as of yesterday's trading, but imo gold is not a safehaven in market declines, it rises and falls to its own moods with USD being a major influence.
 
themickey said:
Only you can answer the question as it depends upon an individual's circumstances and what they want to do with their trading style.
Gold has been a pig to trade since approx mid 2011, so that's 9 years, however as previously mentioned it usually manages a rally around Christmas/January.
A catalyst for a run is most likely a fall in USD but that is staying strong due to Fed's insistance on raising interest rates. Trump is attempting to convince them otherwise which I agree with, Fed is being too ambitious in too much of a hurry imo.
I think even a small fall in USD should see gold rally.
Next Fed meeting is Dec 18 & 19th.
The Rupee (INR) which is often viewed as a bellwether continues to gain strength after a nasty pullback but the bounce may just be a reactive correction from being oversold.
US gold companies atm certainly not looking optimistic as of yesterday's trading, but imo gold is not a safehaven in market declines, it rises and falls to its own moods with USD being a major influence.
More...

My Dec GC contract expires 12/27/18. Given the Fed meeting is 12/18- 12/19, I'll wait til then. Perhaps they will raise one more time and pause. That should be sufficient to stall the dollar rally and hopefully make gold rally.

It has been a poor safe haven play!

In the meantime, I've been trading PCG stock and cryptos. GC trade has become a long term position trade.

Now I realize I'm more of a swing trader rather than a long term position trader. Daytrading has very little appeal to me nowadays.

It's good to find one's niche.
 
maxinger said:
gold day range has been rather bad.
It can hardly exceed 80 ticks day range.

Index futures have much better day range.
More...

I don't daytrade GC nor index futures(anymore). Though the intraday range on NQ is quite appetizing...
 
I believe that gold, like a currency, can fall as well as grow. And at the moment, gold has all the indicators of decline, and there is no confidence in its growth, although a few years ago it was reliable.
 
I keep banging on about only index values having inherent positive buoyancy, so I suppose I'd have to say if you can go long and hold the major US indices themselves, these are nearest to a long-term safe haven. Though I quibble with the word "safe": "low risk" has more truth.
 
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