June Gold...
- Thread starter Realist
- Start date
sure enough, buyers stepped in just as cash gold got to 683 and silver to 13.85. gold is trading over the february high now and RSI looks very positive after waffling around for the past 3 weeks. 700 is a nice round psychological number but in reality, breaking over 730 will attract some attention. Once we get up to 730, the move to 750-760 will likely occur very quickly with latecomers that finally want to get long on the breakout. However, I think we will top out at 750-760 on this run which is where I plan to exit long positions. The pullback should take gold back down to 670-680 in June/July timeframe before heading to all-time highs later this year. Of course this is all my opinion but this is the way I am playing it...
http://www.kitco.com/market/
^^ Spot gold prices
http://www.futuresource.com/quotes/quotes.jsp?s=gc
^^ futures price
try this 4 live quotes
kitco's quotes whack out at least once a week
someday they'll be sued for inducing cardiac arrest
once they had silver a dollar lower than it was!
no warning, no "price unavailable"--no message or indication that their data feed is out of whack so a user could go hours before realizing the price is wrong. well, occasionally they put a notice saying they are having a problem, but only a few times.
so try this:
http://www.netdania.com/QuoteList.asp
kitco's quotes whack out at least once a week
someday they'll be sued for inducing cardiac arrest
once they had silver a dollar lower than it was!
no warning, no "price unavailable"--no message or indication that their data feed is out of whack so a user could go hours before realizing the price is wrong. well, occasionally they put a notice saying they are having a problem, but only a few times.
so try this:
http://www.netdania.com/QuoteList.asp
http://charts3.barchart.com/chart.a...&vol=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=
Ive posted december, because its the one to watch imho, usually is.
For fantastic eod electronic contracts, with fantastic technicals,
Prorealtime is sensational.
Clutching at straws here, but you have seen the $AU right? Im damn certain this is gravy lowside, what that means for gold, well-you can figure it out.
Intermarket stuff clearly not acting favorable for gold at the moment. Copper running up, Dollar running down. Possible pullback to $680-$685 area on june gold is a probability. XAU/HUI seems to be taking a break now even though the broader indexes remain strong today. GLD pulled a reliable drop indicator by showing the RSI of over 70 yesterday and today pulling back under it, this has marked some kind of short-term high from the past year anyway.
Short-term bearish by all means. Still holding long.
We've typically seen the EUR and GBP moving higher in tandem with gold in recent months and gold's performance thus far has lagged in comparison. (i,e. EUR/GBP are at or near record highs against the dollar). The move in copper has been very impressive since February and throughout the entire bull trend in the metals, copper and gold have generally moved in tandem. There seems to be a disconnection right now between the two during the seasonal timeframes here. Copper is way outperforming actually. Silver continues to drag it's feet around 14 or so.
There could just be the entire aspect of price suppression in the PMs which seems to be delaying the inevitable breakout in gold and silver as well.
As long as the uptrend stays intact, pullbacks should be bot.