Gold A "Safe Haven" In This Market Decline?

Stockolio said:
https://goldprice.org/

I was bullish on gold but this is crazy...
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why is this crazy? If it goes up by $50-$100 a day then that will be crazy. So far it's a pretty normal move.

Reading Market Wizards, the last great bull market in gold was the late 70s when prices were moving several hundred points a day! This is definitely not those crazy times(yet).
 
I remain on sidelines, cautiously bearish.
On the one hand feel like gold is going to continue on up, but technically the evidence on my algo is gold is topping out at this point.
So for the meantime I'm out of all gold positions and sitting pat.
Edit: short term, if you think ETF's are good bellwethers, not so.
 
themickey said:
I remain on sidelines, cautiously bearish.
On the one hand feel like gold is going to continue on up, but technically the evidence on my algo is gold is topping out at this point.
So for the meantime I'm out of all gold positions and sitting pat.
Edit: short term, if you think ETF's are good bellwethers, not so.
More...

I am riding my Gold Mining call until early-mid Jan, US dollar topped out, it can only go down from here, and has been doing down so steadily... High 80s/very low 90s guaranteed in upcoming months due to area of economic cycle were in, I would be shocked if it got a push upwards, some are selling stocks and placing into gold as well, pushing momentum
 
https://finviz.com/futures_charts.ashx?t=ALL&p=m1

look at this.Besides paladium there is no single bull market. Stocks down, commodities down, bonds down, energy down, metals down. Gold isn't in bull mode until 1350 is cracked.

I personally don't like gold as a hedge and this time it looks like we're crashing but gold isn't doing anything.
Figure out why the market has trouble (hint: corporate bonds/share buy back programs) and find a specific hedge for this.

Buying gold is like "meh, I don't know what else to do, so I'm buying maple leafs and canned meat and duck and cover"
 
MrMuppet said:
https://finviz.com/futures_charts.ashx?t=ALL&p=m1

look at this.Besides paladium there is no single bull market. Stocks down, commodities down, bonds down, energy down, metals down. Gold isn't in bull mode until 1350 is cracked.
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Amen to that statement.
1) Where's the hyper-inflation ?
2) Where's the wage-inflation ?
3) Where's the Chinese demand ?
With "none" being the correct answer to each of the above, can we conclude this rally is strictly short-covering ?
I watch Copper closely as a proxy for worldwide economic conditions.
Look at the upside failures around $2.85 on this chart: https://www.cmegroup.com/trading/metals/base/copper_quotes_globex.html
 
" In time of crisis, people buy USD (and sell gold).", says the experts.

also


" In time of crisis, people buy gold (and sell USD).", says the genuine experts 100 years ago.
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