Gold Prices Today – Intraday, This Week, This Month, And Longer Term
Our Latest Gold Price News, Analysis, Commentaries
By Clint Siegner, Originally Published on Money Metals Exchange Confidence is slippery, even when you are a metals investor sitting atop the best performing assets of 2016. It doesn’t help when 4 years of a miserable bear market remains fresh in our memories. Any weakness in prices and it can feel like markets are getting ready to plunge right back to $13 silver and $1,000 gold. That feeling is called the “Wall of Worry”, and bulls are going to have to climb it by staying in the market even if their emotions are telling them to bail. Let’s review the last 6 weeks because they are quite instructional. June 1st: […]
The internet is filled with predictions for the price of gold, from $500 to $50,000 per ounce. It depends on your world view. If you are a central banker or a powerful financial player which often supplies loyal employees to serve as Secretary of the U.S. Treasury, the low gold numbers look good. Or, if you understand the incredible $200+ Trillion of debt the world has accumulated and realize it can’t be repaid, then gold at $10,000 probably looks inevitable. Crashes occur and sovereign debt markets look like paper bubbles with disastrous potential to send gold much higher. A better approach to estimating future gold prices, in my opinion, is […]
All fiats fail, and the only difference this time around is the grossly exaggerated extent to which fiat has managed to survive. It also indicates that once the fiat “dollar” fails, and there are more and more cracks showing up in its ability to maintain its world reserve currency status, the move for physical gold and silver will also be favorably exaggerated to the upside.
Yesterday’s rally was the most promising we’ve seen on the hourly chart in weeks. It surpassed no fewer than four prior peaks without taking a breather; moreover, the pullback has been shallow so far. We’ve been short this vehicle with an 1176 basis, but the current stop-loss at 1093.70 should be closely minded, since even moderate strength on Friday could trigger it. If so, it would give us a theoretical gain of $9300 on the position upon exit. If the rally is for real, bulls should be able to move the futures easily past1086.50 Thursday night.
Our conclusion is that we have reached huge support areas in 3 leading assets. Do not forget this rule of thumb: Investors make their biggest gains when buying at secular support levels. Given the stiff correction in gold and commodities, we do not anticipate a raging bull market as of the moment support is reached. Our view? As precious metals were the first asset to correct, we anticipate they will be the first to recover.
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.