Which way? A Gold Timing exercise

[themickey]

Still several trading days to go for this month, Thursday's gold and silver moves looked very strong, the vast majority still below MA50 which is a rough proxy for 2 monthly.
Once the majority above 50MA then we can become a tad more optimistic, following that, the majority above MA200 next target.

 

[Poljot]

1750 support defended as dollar weakened, thanks to the FED day coincidentally.
My current prediction is for gold to drift up for two weeks or more..

 

[themickey]

1750 support defended as dollar weakened, thanks to the FED day coincidentally.
My current prediction is for gold to drift up for two weeks or more..

Gold sort of works on parabolic curves.
Once the curve momentum is propelled it is difficult to stop.
We could be in a type 2008-2009 situation where it paused as part of a longer term uptrend, so long term, we are still in a strong upmove.
Our problem is we're impatient and can't appreciate the bigger picture until we stand back.

 

[Overnight]

Gold sort of works on parabolic curves.
Once the curve momentum is propelled it is difficult to stop.
We could be in a type 2008-2009 situation where it paused as part of a longer term uptrend, so long term, we are still in a strong upmove.
Our problem is we're impatient and can't appreciate the bigger picture until we stand back.
View attachment 273577

Evil mouse, you are insane. In essence, GC has been floating between 1200 and 1900 for a decade. The hell you think it is going to happen? A breakout above or below that range? That would take a Mad-Max scenario....Ahh, right, you're in Australia. Yep, Mad Max. You crazy fuck, lol!

 

[themickey]

Evil mouse, you are insane. In essence, GC has been floating between 1200 and 1900 for a decade. The hell you think it is going to happen? A breakout above or below that range? That would take a Mad-Max scenario....Ahh, right, you're in Australia. Yep, Mad Max. You crazy fuck, lol!

All I know is atm we are in chop and danged difficult to tell which ways it's stepping next.

Choppers
(How do you keep you're hat on?)

 

[Ed48]

Our problem is we're impatient and can't appreciate the bigger picture until we stand back.

The chart you posted looks a bit different if you include inflation.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

Not sure what it means mind you.

 

[themickey]

The chart you posted looks a bit different if you include inflation.

I should have presented as a log chart like this.

 

[Ed48]

What I meant was, if you include inflation, gold is worth less now than it was in 1980.

It would need to hit $2,500 to take out the 1980 inflation-adjusted high.

 

[easymon1]

GC 240 minute - https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-16#post-5507834

 

[themickey]

What I meant was, if you include inflation, gold is worth less now than it was in 1980.

It would need to hit $2,500 to take out the 1980 inflation-adjusted high.

I don't have an inflation chart, so I used the following. Gold versus....
Gold 545%
Copper 545%
Silver 386%
Nasdaq 680%
SPX 304%
DOWI 254%
From 2002 because that's the earliest copper chart I have.
Moving the chart's beginning dates has a large change on % returns.
All very theoretical because no one holds this stuff over these long periods.
But gold held up very well, Nasdaq outperforms everything.
At one stage silver outperformed, it all depends at what dates you are in the cycle.
Over all time frames, gold has performed ok, copper too.
Once gold goes really bullish, then silver flys more or less.