AUD7,500.00 Au oz....pick a date
- Thread starter Oddjob
- Start date
I actually think this target of $7500 is achievable this year.
Consider, if AU increases by 1% per week, the cumulative target would be arrived at by years end.
Naturally, I would postulate that there may be some corrections over the next 2 months especially over the Christmas period but I think we will get there.
My guess is by years end.
Consider, if AU increases by 1% per week, the cumulative target would be arrived at by years end.
Naturally, I would postulate that there may be some corrections over the next 2 months especially over the Christmas period but I think we will get there.
My guess is by years end.
Haha...
There's no manipulation. Its just topping in the long term charts.
It will resume its climb in time or even break out above.
It will resume its climb in time or even break out above.
not surprised to see it dip a bit, my guess for $7500 was probably a bit too optimistic. good indicator of a local top being in when MSM news is covering non-stacker plebs are lining up to buy gold from bullion dealers.
long term still bullish, prices are just taking a breather
long term still bullish, prices are just taking a breather
I would, but only in respect to the drastic top-out.
The trends broken and the chart TA doesnt indicate breaking the last ATH by following predictable strong short term patterns.
Silver did go into backwardation, so Industry may have been lacking, and short term resource covering could also have pushed into futures likely to stand for delivery. Gold UP masking the GSR drop that would have occured.
But Gold (on Chinese demand) easing in Sept is probibly LONG in their posession and hedged/covered/balanced in shorts now... so, wealth physical transfer.
If they dont care about the "buy back from the market" price.. in USD.. because of: Huge USD holding they cant/wont spend buying from US with these tarrifs and climate, and want to "possess" physical..
Then they wont be actually selling that physical, because such a short is covered by it, but...
They will take advantage of short market - long physical import trade, or stop buying and if the market drops:
A: buy more, and TA pattern the floor.
B: cover shorts !^!^!^! even at a loss of USD they value less if its not usable.
If US REALLY wants to manufacture, then they bargain AUS strategic resources (check), Silver and Energy. And China will want that Gold to levels backing the USD they hold, IMO.
I wouldnt be surprised in some kind of flag formation and breakout, or a bear trap pattern... but im also not ruling out chaotic volatility and random noise.
7500? Chinese new year.