Gold Prices Today – Intraday, This Week, This Month, And Longer Term

 

Our Latest Gold Price News, Analysis, Commentaries

MUST READ: Gold Price 2015: Forecasts And Predictions and Gold Outlook For 2015

Gold – A Bullish Scenario

Gold’s punk price action this week has turned me mildly skeptical, but I’ll follow the bullish lead of a chat room denizen who saw encouraging signs on Thursday. He posted as follows: “Just to let you guys know, [something happened that] I haven’t seen in a very, very long time: NUGT is up 16%, many of the miners I follow…are up quite a bit, and Gold is not down. This is a telltale sign that Gold…is ready for a launch.”

Gold Prices jump amidst a Global Equity and Commodity Sell-Off

The price of the yellow metal gained more than 4% last week amid a global sell-off of equities and commodities. The upward momentum in gold prices began the previous week when China devalued its currency, the yuan. And, last week the release of the minutes from the Federal Open Market Committee (FOMC) meeting left market watchers unsure about an interest rate rise in the US in September, adding to uncertainty caused by China’s devaluation of the yuan. This in turn, as well as a number of other factors, including falling prices of other commodities, have led investors to turn to gold.

Gold Price Strong Amid Stock Market Sell Off

December Gold appears to be consolidating for a push above 1200 in the weeks ahead. Notice that although the futures gave back most of yesterday’s modest rally by day’s end, the intraday high poked slightly above an ‘external’ peak at 1169.00 recorded back in early July. This generated a bullish impulse leg on the daily chart, implying that the pullback from Monday’s high is likely to produce a follow-through rally leg. Were it to equal the rally off mid-August’s 1108.50 low, the futures could trade as high as 1206.00 by month’s end or early September.

Warnings From Exponential Markets vs Gold

Markets go up and down. Debt however, based on over 100 years of central bank and politician foolishness, only goes up – until a great deflationary crash that may not happen. Expect debt to increase, politicians and central banks to spend and “print” and markets to boom and bust and follow exponential trends higher. When markets get overextended in either direction, they reverse, or regress to the mean. The 64 Trillion Dollar questions are which markets and when? Look at the graphs again and ask yourself if you truly expect higher S&P prices along with lower gold prices, OR THE REVERSE.

Will Gold Cross The Critical Line In The Sand At 1140 ?

If gold bulls are able to break through the barrier at 1140, then a more substantial rally toward 1160 or 1180 is possible in the near-term. That said, the longer-term series of lower lows and lower highs would remain intact all the way up to 1200, so bulls should be cautious about getting too excited as long as the metal trades with an “11” handle.

 

 

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:

 

Gold prices over 200 years: long term gold charts

Gold Price Shows Three Patterns In Last 14 Years

Gold Price & the S&P 500 Index: What Does The 20 Year Chart Suggest?

15 Gold Price Charts Till 2013

20 key gold price charts till 2012

 

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.