Gold Prices Today – Intraday, This Week, This Month, And Longer Term
Our Latest Gold Price News, Analysis, Commentaries
Sean Brodrick rightfully observes on his blog a remarkable action in both the US dollar chart (as tracked by the UUP fund) and the gold chart (as tracked by GLD). The chart below shows the dollar and right below both dollar and gold. In particular, the rising dollar comes with a stable gold price, which is not the most regular pattern. It is a positive for gold though.
Is it make or break time for gold. Based on the Hidden Pivot Analysis Method by Rick Ackerman, gold will either explode to $2347 on the condition that the recent lows will not be breached. If gold breaks decisively below the recent lows, then the price of the yellow metal is heading to $810.
For the week commencing December 15th, there are some key economic releases that could cause significant volatility in the gold and silver price, as well as two major central bank speeches. Below is a more detailed calendar of economic data in key markets. We expect increased volatility on Wednesday, with CPI figures being released in the U.S. and Europe, as well as a speech of the U.S. Fed. As we are in the two last tax loss selling weeks in the U.S. and Canada, gold and silver are vulnerable. If the prices of the metals would hold up, it would be a very healthy sign; a replay of last year could be in the cards.
This is a short article with some observations on the daily and weekly gold charts. After dropping below important support, gold rallied back above it. Gold has also recently broken above a declining tops line. The weekly chart shows the bear trap and suggests the bullish dynamics of a triple bottom.
It is unclear how long this rally in gold will last, but our indicators are confirming positive momentum. The Trend Model will not move from its intermediate- and long-term SELL signals until the 20-EMA has a positive crossover the 50-EMA. That would generate an intermediate-term Trend Model BUY signal. The long-term Trend Model will not change from a SELL signal until the 50-EMA crosses above the 200-EMA. That will require an extended gold rally in order to get those long-term EMAs to cross over.
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.