will gold punch through the $1700 barrier

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will gold punch through the $1700 barrier

Post by martinjsto on Fri 16 Oct 2015, 12:36 am

looking at the gold charts over the last few months have seen a low of $1473 P oz to a high of $1642.  the recent upward trends on the lows has certainly put upward pressure on the gold price but will it break through the $1700 barrier this year and go even higher?

could well be on the charts:

with the bullish momentum currently being experienced  technical analysis suggest the next peak to exceed the $1700 mark could be broken within a month with a low of $1640 (drawing a trend line to connect the high peaks and another to connect the lows)
the USD chart shows similar trend lines towards the US$1200 P oz.

obviously we have the exchange rate to consider but by all accounts its looking good.
it may be a good xmas for any sellers out there.

keep safe out there
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Re: will gold punch through the $1700 barrier

Post by Nightjar on Fri 16 Oct 2015, 6:02 am

Looking more like $2000.00 very soon. :-)

Good luck & safe travels

"Aging seems to be the only available way to live a long life."


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Re: will gold punch through the $1700 barrier

Post by NuggieDreamer on Sat 17 Oct 2015, 8:03 am

Maybe an approaching Christmas Indian jeweler buying demand glitch or people starting to not back the US oil based $ with the Syrian crisis / WWIII scare.

More than likely a false impression caused by the fact the US dollar is now worth $1.38 Aussie Dollars and gold basically holding value and gold looked worse to us when we were closer to par with them only about a year ago?

Wait for the 1st nuke to drop... Gold will be worth a bit then!

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Re: will gold punch through the $1700 barrier

Post by thedigger on Sat 17 Oct 2015, 8:29 am

The price of gold has nothing to do with wars oil,they powers to be do not want the price to compete with the USD.
There is a lot of manipulation at certain hours of the day,just watch the US times 2.30 am when a small amount of paper gold can drive the down the price and 8.30am when it opens in the US,when the price drops,it triggers the computers to also sell on falling price,then bingo they buy it back.
This game is coming to a end,paper money around the world is going to zero,you can see it happening,The US is the best looking horse at the glue factory.
All moneys around the world are going to be measured against gold,this what the US is fighting,China Russia and a lot of other countries are buying gold because they know trouble is coming,how this will exactly turn out nobody knows.
There is a lot more to this so you have to read the truth which you will not find in MSM.
Regards Frank


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