The gold market sprang into life yesterday (5/20) as it closed in on $940 level which brings it back to its best levels since March 20th. We last looked at the gold market shortly after my return from New Zealand on May 5th. At that time, Gold (xauusdo) was trading at $902 you can see that all on my earlier video. Presently we are trading around $937 zone and it looks as though we can see further upside action in this market.
I think you'll find this new video very informative and you may watch with my compliments. There are no registration requirements. Please enjoy and give your feedback on our blog. Thank you.
All the best,
5 thoughts on “We update our gold outlook (new video)”
"...it does not take a deep thinker to know that governments do not want gold up…."
The Financial Times article 'as good as gold' provides more details about governments' past interventions to control the price of Gold:
Very concise, cogent presentation. Thank you. As you've pointed out, patience is the key. With every fiat advocate aligned against it, gold will take some time to get to the levels the laws of physics dictate.
Hello ye'all... Gold gold gold.. hmmm.... I've already taken profits so I'm currently on the sidelines... was watching it intently today and did not pull the trigger... why you may ask? .. seasonality, resistance. Do I see gold going to 1000 this month? Nope... could I be wrong yes.. lol.. I sound like a politicain don't I?
Pluses for gold ; cruddy US economy, triple A rating for the US dollar is now in jeaporady, US dollar sinking (reminded of the Ford commercial like a rock)
Negatives: to many longs, resistance ( I stated in another post I saw gold at 950 topping out here... closed 955; perhaps 960/5 possibly but here I'm not comfortable... but that's just me...
Remember the IMF stating it wanted to sell tons of gold... well ye watchers... be on the lookout for bearsih news as gold starts to rise as an artificial way to keep prices down. If and I mean its a big if... it gets to the 975/80 level watch for this news to take it back down... it does not take a deep thinker to know that governments do not want gold up....
Thanks for your feedback.
Look for some more improvements in our charting in the next few weeks.
All the best,
YOUR CHARTS ARE FANTASTIC.
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