Gold Just Hit AU$2,000

Discussion in 'Gold' started by GoldenEye, Jun 20, 2019.

  1. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Correct. My old shop, was a multinational with large UK / Euro ops and they started preparing back in 2016 for this by setting up new entities in the EU to ensure no impact once Brexit was real. All other insto's would have done same.

    Will there be some level of turmoil just after Brexit, yes but I think the financial markets have sorted out any issues thus I think it'll come down to commerce and trade issues to be ironed out due to re-instated customs border. Watch the UK news play that a treat with lines of lorries waiting at customs points.
     
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  2. mrsilverservice

    mrsilverservice Well-Known Member

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    Market Closed - $2,204.01

    AUD - $0.68

    I now firmly believe that Gold will struggle to go over $2,300 again soon unless :confused:

    I am not saying it won't or even go "much higher" maybe sooner than later but I expect that a real world shock like we have never seen before will doing the trick o_O and if it does what kind of world will you be living in :eek:

    But saying that Gold like everything else has it's limits and will run out of benefit eventually not giving you what you had hoped like peace of mind,or even food,water and shelter.

    If you want to find hope for all seasons read below -

    -

    The Book of John Chapter 3 verse 16

    For God so loved the world that He sent His one and only begotten Son,that whosoever believes in Him shall not perish but have ever lasting life :)
     
  3. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    Just a wee tinker for all you gold bulls. Bullish pennant on the weekly that will make you feel good about your stack! Now, what will be the trigger to spark its next leg up?

    Opera Snapshot_2019-11-07_084629_www.marketinout.com.jpg
     
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  4. Slimey

    Slimey Well-Known Member

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    Unfortunately looks similar to the setup in October 2016 if you look at the chart. It will be interesting to see how it pans out.
     
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  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    As someone who is mostly cash and bonds, the economic situation today is nothing like 2016. What am I going to buy today? Apple stock? Tesla? Uber stock? Bitcoin? Oil stocks? Eurobonds?

    HK is the leading indicator, first to blow up, other countries will follow.
     
    Last edited: Nov 7, 2019
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  6. openeyes

    openeyes Well-Known Member Silver Stacker

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    Buying gold in late December 2016 wasn’t so bad although you would have to get out again. Of course there were other thing’s providing better returns. Depends on your objectives. Then and today.
     
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  7. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    Excuse my ignorance, but what was that chart setup like? I was oblivious to PM’s until just last year, if you’re inferring a potential downtrend then let me grab my keys so I can back the truck up...
     
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  8. Slimey

    Slimey Well-Known Member

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    Well If you look at the chart at the low of late 2015, the chart does a leaning lamppost followed by a double doggie do-nothing until May. The fake-out lamppost which followed made it abundantly clear that the pennant forming would be a half-master and what do you know..a reverse zorro formed, just as predicted. Eeeeeeaaasy.
     
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  9. alor

    alor Well-Known Member Silver Stacker

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  10. mrsilverservice

    mrsilverservice Well-Known Member

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    Market Closed - $2,126.04

    AUD - $069.00

    Golds performance over the last 3 months reminds me that Gold is "only" insurance although probably the best hand held insurance other than knowledge :D

    The Book of Proverbs Chapter 16 verse 16 (part A)

    How much better to get wisdom than Gold :)
     
  11. JOHNLGALT

    JOHNLGALT Well-Known Member

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    History of Gold Controls in Australia.
    PRESS RELEASE No 29

    EMGARBO 6.00pm

    STATEMENT BY THE TREASURER, THE HON PHILLIP LYNCH, M.P.

    PRIVATE OWNERSHIP AND SALE OF GOLD BY AUSTRALIAN RESIDENTS
    SUSPENSION OF PART IV OF THE BANKING ACT
    The Treasurer, Mr Phillip Lynch, said today that Commonwealth restrictions on the freedom of Australian residents to own, buy and sell gold in Australia had been removed.
    He added that current restrictions on the purchase of gold coins had also been removed.
    You would be aware of this 1976 release @bron.suchecki I presume.
    https://www.perthmint.com/info-historycontrols.aspx
     
    Last edited: Nov 26, 2019
  12. ozcopper

    ozcopper Administrator Staff Member

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    The most important word is SUSPENSION....
     
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  13. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Gold closes at Xmas at :

    USD1499.00 (+13.80)
    AUD2166.00 (+20.00)

    But AUD against USD also up from 0.6840 to circa 0.6920 in last week.
     
  14. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Still too early to know for sure how it will pan out. I've been watching on this pattern, and is the reason why I didn't backup the truck. Some differences from 2016. In 2016, the Fed stopped QE and started QT and rising interest rates. Today, there is Repo Madness and trade war and falling rates. The fundamentals are not the same.

    [​IMG]
     
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  16. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Gold still having a wee rally.

    USD1524 (up 25.00 since Xmas)
    AUD2179 (up 16.00 since Xmas)

    and the AUD has climbed to near 0.70.
     
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  17. openeyes

    openeyes Well-Known Member Silver Stacker

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    And more. Definitely a breakout of trend. I thought we would see lower levels before this but one can never be disappointed about upward movement. May there be more.
     
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  18. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Looking back, I think the forum is too pessimistic on not just silver and platinum, but also gold surprisingly.
     
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  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Too many broken hearted individuals who miss out on returns. Too many gamblers looking to get rich quick. Too many who don't understand the purpose of stacking precious metals.
     
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  20. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I dont know why anyone should be pessimistic. Gold has outperformed everything this last year. Theres been plenty money to make if you wanted to sell as investment gold.
    I can understand pessimism in the fake bubble markets but not in gold.
     
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