Why is gold rising so steeply?

Discussion in 'Gold' started by TreasureHunter, Aug 14, 2019.

  1. alor

    alor Well-Known Member Silver Stacker

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    opium productions in Afghanistan increased 10 folds since American soldiers are guarding them
    [​IMG]
     
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  2. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Bought to you by the Central Irrigation Authority.
     
  3. TreasureHunter

    TreasureHunter Well-Known Member

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    Gold will keep rising.

    And interesting interview with technical explanations, trends included:



    The dollar will probably take a dip, but I'm unsure this will happen soon... for several SOLID reasons:
    - the Euro looks weak, so anything affecting it will make investors/common people run towards the Dollar
    - China: again, some running from the Yuan will buy the Dollar (and other currencies), so again, the Dollar wins
    - the Dollar has been rising and people keep buying it (including in the Euro zone) for savings (obviously gold is less common for those people)
    - the Dollar is still backed by the US economy, which is very strong (even if recession occurs, it will be stronger than the Bulgarian Lev or the Thai Baht), meaning that other fiat currencies are WORSE
    - most countries in the world hold US Treasuries/Bonds as "reserves" (they keep these as "emergency" foreign currency reserves), even if the dollar is becoming sell popular, this is happening rather slowly...
    - the Russian-Western political crisis is affecting Europe more (Europe being closer to Russia, it's negatively affected, while the US is positively affected: the sell arms to Europe and they benefit indirectly by sharpening the political crisis between Russia and Europe)

    ...so, for a while I see the dollar benefiting by other bricks falling first...

    <<< unless something severely shakes the US economy (e.g. stock market crash, long-term decrease of US industrial production, some sort of oil crisis etc.)

    Gold is has take off now. With smaller bumps, but I'm confident it will rise this time. It's abrupt.

    Gold is no longer "testing the cold water with the toes", it's jumping in!

    GREED and FEAR are both fuels now.
     
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  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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  5. TreasureHunter

    TreasureHunter Well-Known Member

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    What I like about Peter Schiff is that he honestly advises people to wait until gold pulls back and then buy gold.
    (other traders will tell you to just buy buy buy buy buy... even when it's up)

    Listen at 52:52



    Watch for 1,400 $. I can imagine trading slightly sideways in October, but prolly late-September will bring a good buying opportunity.
     
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  6. TreasureHunter

    TreasureHunter Well-Known Member

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    ^
    Let's watch the waves next week. When will we see 1,400 $?
     
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  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Still holding back. I’m looking to buy another batch of gold at $1450 but if the Saudis retaliate against Iran, I’m not sure if it will happen this month. Let’s watch.
     
  8. TreasureHunter

    TreasureHunter Well-Known Member

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    Armstrong says gold could go way down to 1,350 $. And prolly even a bit lower (just above 1,300 $).

    I don't know about that, but here comes October! (I'm expecting a substantial dip)
     
  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I hope so but I think we have seen most of the correction pass already.
     
  10. TreasureHunter

    TreasureHunter Well-Known Member

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    Even a beginner who is just learning to read charts can see that the "zig-zag" this year has been rather upwards: more upwards than downwards.
    It's going up and slumping a bit, then going up higher.

    Look at the screenshot below: March-May - it went down, but then shot upwards.
    We are witnessing a similar "slump" now. It will keep going down for a while, I think. Personally I don't think it will go below 1,400 $. But 1,300 $ is
    possible in case strong bearish forces drag it down, but I only give that a 20 % possibility.

    [​IMG]
     
  11. mrsilverservice

    mrsilverservice Well-Known Member

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    This is my personal belief :)

    I 100% believe that in your life time that Gold will not even buy a piece of bread,and this will happen far far sooner than you might imagine :(

    Yes I 100% believe that things are going to that bad :eek:

    But saying that would I buy more gold - yes I would :)

    Call me crazy but don't call me late for dinner :D

    -

    -

    -

    The Book of Revelation Chapter 21 verse 8

    But the cowardly - unbelieving - abominable - murderers - sexually immoral - sorcerers - idolaters - and all liars shall have their part in the lake of fire which burns with fire and brimstone - which is the second death :confused:
     
  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Still waiting for gold to break support. Silver gave a bit of a tease last night but has since fallen again.
     
  13. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    If $1480 breaks ... We may get a sniff at $1430. The longterm chart is indicating a strong move up, so I have my plan in place if TPOG hits my targets
     
  14. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Where will next move up be to according to your analysis?
     
  15. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    You Mean Resistance? From the next move up? If POG can break $1535 ... $1800 Is a good possibility
     
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  16. 66rounds

    66rounds Well-Known Member Silver Stacker

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    So then now is the time to buy, shouldn't wait for 1480 to break. Not much difference between 1480 and 1430...some forecast 1375 but it doesn't seem as likely as it did a couple weeks ago.
     
  17. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    The problem with that is if the POG does break $1430 then its lookout below to a very good possibility $1350 'ish
     
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  18. SilverDJ

    SilverDJ Well-Known Member

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    I wouldn't be trying to guess a low here, it almost never works, if you are interested in buying for long term gain just buy.
     
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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Your guess is as good as mine.
     
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  20. Gonzo

    Gonzo Active Member

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    I agree. Average in buying is the best way here. Most of my gold from bullion dealers was bought awhile back. But since the recent uplift I decided I wanted more. So while the price was higher than I had ever paid before, I was picking up 2 ounces day by day at KJC or ABC (in Sydney). There's now a big price difference between the 2 btw... so my preference is KJC despite previous bad staff experience (still like to see both open for business yeah?).
     
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