$1045 could the next target. Dec rate hike is almost a certainty. Don't fight the market.
This is just for your information.
Most people get it wrong predicting Trump is bullish for gold. In fact his new policies & plans, he is actually actually quite bullish for the dollar & market (not gold). Target 1225 & 1200
Trump winning the election could send the price of gold to $1500+
Breakout is above 1325-1330. Make your own decision.
Different view from my previous chart... Bullish price channel. Watch out for imminent showdown in Syria between Russia & USA.
It's becoming unpredictable. Not sure which direction it will go.
Every 7th / 8th year in the month of September, before the presidential election, stock market always collapse, always coincidence when DOW & S&P touched all time high. I'm waiting to see if gold can truly be the safe heaven again when everything fails. There are simply too many triggers to pop one of the bubbles.
It can be either bullish / bearsih breakout. But August NFP / September sudden stock market collapse will decide the direction of the trend. (*Stock market usually collapse 2 months before the November election - Shemitah 7 yrs & Jubille 49 yrs cycle usually result in worldwide financial devastation) 1987 Infamous stock market collapse 1994 Bond market...
Get ready for high volatility.
Short term long, consolidating in the next few days. Average price $1342, then the market will decide to go up or down.
I think gold is consolidating within the 2 green lines forming symmetrical triangle in the next few week.
Long from 1326-1328 once the pattern is completed...... S&P is due for a sharp correction together with the dollar (DXY) like it did in Aug 2015 & Jan 2016.
NFP numbers will decide if POG will break through 5 yrs old trendline. However, rate cutting, helicopter money, long overdue 7 yrs cycle stock market collapse & NIRP worldwide support POG in long run. Place your bet......
Follow the top dark blue pitchfork line..... that will be the next intermediate target. Should be around $1475. The upcoming stock market crash will bring down DXY with it, same setup during Aug 2015 & Jan 2016 market crash.
Follow the top dark blue pitchfork line..... that will be the next intermediate target. Should be around $1475. The upcoming stock market crash will bring down DXY with it, same setup during Aug 2015 & Jan 2016 market crash.