Which way? A Gold Timing exercise

[themickey]

I'm about $50k underwater on gold atm of 22 gold & silver positions.
A few strong days of gold will evaporate that amount hopefully, howeve some I just bought recently, the majority are penny's.

I took 2 bites on a penny the other day, $500 @ $0.004 and $500 @ $0.002.

I have another horrid penny I bought nearly 2 years ago at $0.003, it has sat at $0.001 ever since.

 

[themickey]

What's interesting is where gold is atm, it is just now not far below the high of 2011 which was @ 1920 level.
Another 50 points and we'll be back at that level.

 

[themickey]

Hourly chart.

12 hours ago it was all looking promising, then wam bang thank you mam it collapsed.
Typical!

 

[fan27]

View attachment 271238
Hourly chart.

12 hours ago it was all looking promising, then wam bang thank you mam it collapsed.
Typical!

Gold Bug Life....lol

 

[xandman]

Yen and Euro making new lows against the dollar right now.

Dollar milkshake.

 

[themickey]

As the AUD/USD falls, gold in AUD rises

 

[xandman]

NEM and GOLD diverging.

 

[xandman]

Looks like a familiar distribution. All this buzz was triggered by that Nov 9 move that popped it above the MA. This will pass.

Gold had failed the 2020 Covid crash and it failed for all of 2021 to protect investors from inflation. The time to buy gold is during easing, not tightening.

 

[Poljot]

My gut says 1900 before 1800. On the Feb 22 contract.

P.S. Any cake without some form of chocolate is BS cake. WAY too many sprinkles.

Agree. I expect 1900 within 5 days.

 

[themickey]

NEM and GOLD diverging.

View attachment 271302

Newmont vs Barrick, I wouldn't put much relevence on them.
In Australia we have Newcrest which if I recall has the largest cap in Aust. gold stocks, also we have Northern Star large cap here, both are languishing.
I prefer Kirkland Lake of the whole bunch but I do not hold because its a CDI.