Gold Price Action....Where To?
You can see on the monthly chart below that Gold has risen nicely from around the 1300 area where I entered a small buy. I have been holding it for a while now to see if we would get a substatial move above 1380 which is the area in the past where it has always been whacked back down for the past eight years or so.
Well, it did make a sizeable move above a key area. You should take note of this. It is not yet what I would call a clear sign but it sure a heck is a small signal that gold may be headed higher.
How much higher?
I don't know. Perhaps the 1600 or 1753 area?
You can see on the monthly chart which is a powerful one that the technicals seem to be pointing upward. Especially if it closes in the 1450 to 1500 area. This has not happened in a while and bears a second look. I am still not too excited alright. I don't really know what it means and I am not ready to jump on the gold bug bandwagon.
Is the USA getting ready for a global resent as it does own most of the gold?
I doubt it but I really don't know. I do know there is a pile of debt as high as a mountain. I do know that most people have saved nothing. I do know that most families live pay check to pay check having to borrow ever more to keep up with the ridiculous inflation in some areas. No, the trade wars are not helping.
Something is building here. I don't know what it is but I can feel it. Something in the air. It could be a new war, a debt reset, debt forgiveness or some other large event. However, I cannot tell you what it is only that the kettle is boiling.
Nothing may happen or everything may happen. The climate is certainly ripe for it.
You can feel it in the air if you really want to. Billionaires all wanting to be taxed to the max. Regular folk struggling. Students drowning in debt. Free credit defaults rising to serious margins. Yes, something is brewing my friends. I don't think it is good. I hope for good but I do not see it that way.
Can interest rates head lower?
Yep, and they likely will before too long. Except the problem is the bubble money has already been released. What do you do, release more of it where it is not needed or wanted?
Maybe, but I suspect that it won't have the same effect as it did the first time around.
You can see where I am in gold at the moment. You can join me if you wish on any pullback but please do NOT chase price. Cheers!
Well, it did make a sizeable move above a key area. You should take note of this. It is not yet what I would call a clear sign but it sure a heck is a small signal that gold may be headed higher.
How much higher?
I don't know. Perhaps the 1600 or 1753 area?
You can see on the monthly chart which is a powerful one that the technicals seem to be pointing upward. Especially if it closes in the 1450 to 1500 area. This has not happened in a while and bears a second look. I am still not too excited alright. I don't really know what it means and I am not ready to jump on the gold bug bandwagon.
Is the USA getting ready for a global resent as it does own most of the gold?
I doubt it but I really don't know. I do know there is a pile of debt as high as a mountain. I do know that most people have saved nothing. I do know that most families live pay check to pay check having to borrow ever more to keep up with the ridiculous inflation in some areas. No, the trade wars are not helping.
Something is building here. I don't know what it is but I can feel it. Something in the air. It could be a new war, a debt reset, debt forgiveness or some other large event. However, I cannot tell you what it is only that the kettle is boiling.
Nothing may happen or everything may happen. The climate is certainly ripe for it.
You can feel it in the air if you really want to. Billionaires all wanting to be taxed to the max. Regular folk struggling. Students drowning in debt. Free credit defaults rising to serious margins. Yes, something is brewing my friends. I don't think it is good. I hope for good but I do not see it that way.
Can interest rates head lower?
Yep, and they likely will before too long. Except the problem is the bubble money has already been released. What do you do, release more of it where it is not needed or wanted?
Maybe, but I suspect that it won't have the same effect as it did the first time around.
You can see where I am in gold at the moment. You can join me if you wish on any pullback but please do NOT chase price. Cheers!
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