Get started

Xausud

Gold similarities between topsGold is usually seen as a safe haven when stocks are falling or when inflation is rising. Neither of those two things are happening right now. Investors also are worried about a rise in U.S. layoffs as spiking coronavirus infections cause more businesses to shut down. Congress has yet to agree on more economic aid. All that has increased uncertainty about the direction of the economy. And uncertainty is often seen as good for gold prices. This was said back in 2011 in August right at the top, I do think this also applies to today's environment. - Inflation Rate for January 2021 is 1.4 "Gold is considered a good hedge against inflation," he said, "But the increase in gold price has far outpaced inflation, especially during the last decade." He noted that inflation has only picked up 2.4% on an annual basis during the last 10 years, but the price of the yellow metal has climbed more than 21% a year during the same time period. Unless higher inflation -- to the tune of 10% a year -- is forthcoming, Thomas said gold prices are "clearly in a bubble." Buffet's famous words: The prices of stocks and U.S. houses have risen faster over time than gold. Buffett has called investors who buy gold when the price is rising, even during times of uncertainty, "foolish." Conclusion: Short term exuberance because of the expected economic aid package, this will lead to a spike which will form a double top.
OANDA:XAUUSD
by Charlestrad3r
Very Bearish on GoldExpecting to enter a sell position after gold attempts to make one last move to the upside. I'm bearish on gold because in my opinion gold is overextended, looking at the larger time frames (weekly and monthly). Gold had a massive push to the upside now it's time to sell off some of that and this current retracement explains the bearish movement. Price broke below the previous low which formally acted as a form of support. Now that that previous low has been broken, price made a retrace to test this area and it is now serving as a form of resistance. This resistance (former support area) also correlates with the 50.0 fib level, which is the level we look to retrace to once we break a support/resistance level. I am looking for price to ultimate fall near the 1700-1710 level. This area correlates to the -.27 fib level on the daily and the 61.8 fib level on the weekly time frame.
FOREXCOM:XAUUSDShort
by NoCeilingsTrading
6