Printable View
‘Don’t fall asleep on gold’ because ‘the charts are too good,’ says prominent analyst
https://www.marketwatch.com/story/do...wsviewer_clickQuote:
“We don’t want you to fall asleep on gold, the charts are too good,” deGraaf said. “A drop in extreme sentiment during a period of consolidation as the overbought condition works off after breaking out of a large basing pattern is exactly the type of action you want to see.”
Still in a downtrend but GLD looks like it might close above its 50-day EMA for the first time in many weeks.
https://www.tsptalk.com/images/mb/121919a.gif
And the longer-term chart has big old bull flag on it, and looks ripe for a breakout...
https://www.tsptalk.com/images/mb/121919b.gif
Bull flag go boom! :hump:
https://www.tsptalk.com/images/mb/122619c.gif
Bought another ounce yesterday! :banana:
Gold surges to more than 6-year high on geopolitical turmoil, inflation fears
https://www.cnbc.com/2020/01/06/gold...ion-fears.html
https://www.tsptalk.com/images/mb/010620.gifhttps://www.tsptalk.com/images/mb/010620a.gif
https://www.tsptalk.com/images/mb/010620b.gif
Little something for the bugs, because you know I got love for you guys. Don't sleep, those gold dreams may someday be a reality if a few billionaires decide to allocate 10% to it.
https://www.theglobeandmail.com/inve...mulus-bonanza/Quote:
Before the COVID-19 pandemic, most private banks recommended their clients hold none or just a tiny amount of gold. Now some are channelling up to 10 per cent of their clients’ portfolios into the yellow metal as the massive central bank stimulus reduces bond yields – making non-yielding gold more attractive – and raises the risk of inflation that would devalue other assets and currencies.
Nine private banks spoken to by Reuters, which collectively oversee about US$6-trillion in assets for the world’s ultrarich, said they had advised clients to increase their allocation to gold. Of them, four provided forecasts and all saw prices ending the year higher than they are now.
UBS, the world’s biggest wealth manager, said gold could hit US$1,800 by year-end in its base-case scenario, driven by ultralow interest rates and investors seeking gold to hedge their portfolios, or even touch a record high of US$2,000 in the event of a second wave of novel coronavirus infections.
Massive, extremely long term, cup and handle forming for gold:
https://www.tradingview.com/chart/GL...look-for-Gold/
Attachment 52139