Gold Prices Today – Intraday, This Week, This Month, And Longer Term
Our Latest Gold Price News, Analysis, Commentaries
The US stock market is showing increasing volatility on lower optimism for good earnings growth. Gold is continuing to gain momentum as the 20 and 50 day moving averages turn positive. A golden crossover of the 50 and 200 day could be only a week or two away. Its been a rough four years for junior mining investors as the Venture hits 2008 and 2002 lows. However, there could be a good chance from both a technical and fundamental standpoint that the correction cycle in precious metals is coming to a conclusion.
Gold is making a determined come-back in financial markets because it is more real than paper fiat currencies backed only by the faith, credit, and the lies of insolvent central banks and sovereign governments. Gold is approximately $150 higher than its early November low and still long-term UNDERVALUED. Paper promises, paper currencies, and official pronouncements from central banks and governments are looking less real, more vulnerable, and likely to weaken further in 2015 and 2016.
For the week commencing January 26th, there are some key developments which could create volatility in the precious metals complex. First, the results of the Greek elections are going to impact the Euro, and, consequently, also gold. Next, several economic data will be released, including GDP in the U.S. and CPI in Europe. Most importantly, however, is the U.S. Fed announcement on Wednesday in which some clues about future monetary policy and, in particular, a potential interest hike are expected.
A truly interesting trend is visible on the following chart. With the Euro being hit hard today, the U.S. Dollar was on the rise, as indicated with the blue line on the chart below. As readers can see, in the last 4 weeks Dollar gold has been rising along with the U.S. Dollar. Historically, both assets have been negatively correlated. If gold can continue climbing higher during a Dollar bull market, it indicates great strength for the metal. In our opinion, it also confirms gold’s safe haven nature, something the market has denied consistently in the last 2.5 years.
From our vantage point, the roadmap for gold is relatively clear: a break and close above the bearish trend line at $1300 should pave the way for another leg up into resistance in the $1340 zone, while a reversal off the current resistance level could take the yellow metal back down toward 200-day MA support near $1250. This could be one of those rare times that the market presents a crystal clear setup, and the only part left to traders is to follow the price action, wherever it leads.
Our Selection of Longer Term Gold Price Charts
We spend quite some time and effort analyzing the gold price, both on the short term and on the long term. The result is a wealth of information and analysis in the form of articles (analysis, market views and commentaries). Below is a selection of the 5 most valuable long term gold price analysis, containing many gold price charts:
Mind that gold is primarily a monetary metal, although it has also characteristics of commodities. So when analyzing the gold price charts, please make sure to also look at the more fundamental aspects of gold. An economic assessment, as well as an in-depth analysis of the monetary environment, are key. By doing so, one could find for instance a huge disconnect in gold being an investable commodity versus gold being a hedge against monetary, particularly after the gold price drop in 2013.