Gold Charts

Financial markets forum.
Meconomy153
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Re: Gold Charts

Post by Meconomy153 » Sat Nov 01, 2014 2:53 am

EconoD wrote:It's hitting new 3 year lows as I type ($1175) will this be a head fake and it spike quickly back up or a sustained fall, about to find out? It must be taking out a load of stops, hence you get the huge volume and a quick drop that seems to be the pattern at these changes? (To be honest I have no idea, ssh don't tell anyone.)

The dollar index meanwhile is soaring in the region of a 4 year high.
This is really weird. Gold lower and lower as Japan Goes ‘Weimar'. Can it go even lower? Maybe but it is crazy!

EconoD
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Re: Gold Charts

Post by EconoD » Wed Nov 05, 2014 6:23 pm

What?!!! I don't see any profit in gold you say! All I see is this:
Screen Shot 2014-11-05 at 17.13.38.png
Screen Shot 2014-11-05 at 17.13.38.png (83.26 KiB) Viewed 1989 times
Most people see this and think gold is getting slaughtered! Quite often you see it on the gold and silver bugs sites and they usually end up depressed. I'd like to change that point of view somewhat, how can I say gold has made a big profit???

Ok so look at this now:
Screen Shot 2014-11-05 at 17.12.19.png
Screen Shot 2014-11-05 at 17.12.19.png (81.6 KiB) Viewed 1989 times
You'll notice that over the time gold dropped against the dollar it rallied strongly against silver going up almost 5%. All you gold bugs sitting with gold and feeling beaten up, you should realise you are actually now sitting on a profit and have been given the opportunity to get your hands on more silver. Up to you of course, the ratio could go to 100 but if you're sensible you can take advantage of it all the way there? Does that make your day better? Or not? ;)

EconoD
Posts: 59
Joined: Fri Oct 17, 2014 8:37 pm

Re: Gold Charts

Post by EconoD » Wed Nov 05, 2014 6:41 pm

In fact if you take this approach to a lot of other markets, the picture gets much more interesting. I found a good place to do this at StockCharts.com

Here's a beautiful example of gold getting hammered against the Dow, Japanese QE is obviously toxic to gold in relation to stocks! (it's a modern world)

http://stockcharts.com/h-sc/ui?s=%24gold%3A%24indu

Have fun playing, let me know of any interesting comparisons?

Regards,
EconoD

EconoD
Posts: 59
Joined: Fri Oct 17, 2014 8:37 pm

Re: Gold Charts

Post by EconoD » Wed Nov 05, 2014 6:46 pm

You can usually find a profit somewhere in whatever you've been holding, so have a good hunt around if you've been holding something that's losing in fiat terms?

EconoD
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Joined: Fri Oct 17, 2014 8:37 pm

Re: Gold Charts

Post by EconoD » Wed Nov 05, 2014 8:15 pm

~30% gain against Brent the year to date.
Sell 10 year treasuries buy gold?
Gold's been doing well against Brent crude oil this year:

http://stockcharts.com/h-sc/ui

EconoD
Posts: 59
Joined: Fri Oct 17, 2014 8:37 pm

Re: Gold Charts

Post by EconoD » Mon Nov 17, 2014 6:56 pm

Gold hovering below the key $1200 mark. I reckon it's got to break that to look convincing? I'm taking $1200 as resistance.

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