Big picture for the precious metals – Ignoring this daily volatility
Craig Hemke joins me today to look past this day to day volatility for gold. Some of the key long term factors we discuss include central bank policy, interest rates, and investor sentiment.
The prior 2011 peak of $1923 is a level of support that would be nice to see hold, but Gold is still above that at $1934, so what line in the sand do you feel it has crossed?
The $1923 numbers is the holding point……This Friday, is a long weekend in the US, so, I think,..there is a little more going on.
The Guru Chart, …which I follow is UP, …. 🙂
The sell off today, was all overseas selling,London Time, same formation that always happens, end of day Friday , was UP….So, no problem ..Now , we will have a soft day Monday, where the boyz can knock it around…..
The uptrend line that is 1933 today. Which is where gold closed.
It broke the line this morning and looked like it was going to drop hard. Nothing but air under that uptrend line. (IMO)
It sure held tough today tho.
Understoond. You were discussing the uptrend line not the prior 2011, so that makes more sense. thanks for unpacking your thoughts Chartster.
Yeah Gold futures closed at $1940 so it held the line to close up the week.
Excelsior,
Thanks for all the stuff you bring! You are in rare air, Sir.
You come up with companies I’ve never known (many times), and I’m always impressed.
I could say thanks every day, but I’ll just say it tonight.
Thanks 😊
Gold just crossed a big line in the sand.
Lookout …below…