What could be in store for the Fake Paper Price of GOLD ?
I love Gold and Silver, they are the best stores of value in this crazy world right now, and they have always been real Money. I constantly look at charts of Gold to try and work out what will happen to the price, and i do often make the mistake of looking through rose-coloured glasses. But we must be realistic.
Here, i am going to show you, rightly or wrongly, why i am bearish on Gold right now. Yes, this is going to upset some Gold people, but i always tell it how it is. Take a look at this chart of Gold below. It is a monthly chart, giving a long term view of price movement.
Chart SOURCE ; netdania.com
I have drawn 5 main trendlines on the chart. The first one is a parallel line showing that over a period of about 4 to 5 years, the Gold price could not break through the $1360 level , even though it tested it about 11 times. Now the price is much lower. The first of the other two lines, going upward from right to left , is following the price from 2005 to the present day. While i don't consider this to be a perfect trendline, it is never the less signalling a lower price , because it has been broken to the downside. In the short term,we can possibly expect the price to go up and return to this trendline without breaking back through , so this trendline which will now act as a resistance level, and thereafter Gold should resume it's decline. The next near - horizontal line is showing where Gold could bounce upwards. If this support breaks it will confirm that even lower prices are on the way.
The fifth and lowest trendline runs from 2002 to the present day. If the trendline described above fails as support , the Gold Price will hit this line sometime around mid 2019, or possibly sooner if there is a sudden drop. This means a sub- $1000 Gold Price is on the cards. I must stress that this scenario is a possibility, not a certainty.
Keep in mind that we are talking about the manipulated Paper price of Gold here, not the price which would apply in a free market determined by supply and demand. WE HAVE NO FREE MARKETS !! With the risks to World economies today, massive debt, bankrupt Governments, hugely overpriced paper assets, and many Emerging markets with huge Economic problems, Gold should be much, much higher. The reality is that for the moment, the Gold Price is determined by corrupt forces that seek to defend the value of the US dollar.
On the bright side, there are forces emerging that could change all this, but that's a subject for another day.
Note ; This Post reflects the opinion of the Author and is not Investment Advice.
Thanks for your analyzing. I read some articles on twitter and they say that Gold prices are going to 600 USD. Chart is important but there is also more parameters as policy, etc.. Please dont ignore the risk.
$600 sounds extreme, but it would not surprise me. Most Gold miners would go broke at that price. There is no risk holding physical gold, and i don't play with derivatives either.
@ctral-alt-nwo, That's great analyzing of the long term view of price movement of gold. Absolutely we have see prices being down and up every time. But currently I've seen gold prices down and can't wait long term to me. I feel like it has risk. But it's only my opinion. Thanks for given your ideas.
@ctrl-alt-nwo,
Definitely with current corrupted over printed papers of money everything seems not worthy at the moment! You explained nicely the long term trading viewpoint of the market and with your experience yeah it could be 100% accurate!
I wish to hear more about crypto markets from you, specially STEEM, BTS, EOS and few other coins!
Thank you!
Cheers~
Unfortunately, the Crypto's are just as manipulated and rigged as Gold and Silver. All these assets are a threat to the corrupt Monetary System, so they have to suppress them by any means possible. There are forces at work that might change this for the good of all of us, but there might be some more pain in the meantime.
The price of gold has become very low at the moment!
I should sell some cryptos and buy some gold!
Thanks for sharing this information.
Thanks for sharing. Shared on twitter for my followers to read. Stephen
#Promo-Steem #steemtalent #JoinSteemit #Steemit
What could be in store for the Fake Paper Price of GOLD ? #STEEM #steemtalent #JoinSteemit #Steemit @Steemit
#Gold #Silver #PreciousMetals
https://twitter.com/StephenPKendal/status/1047486940969406464
you are talking my lingo! spot on....see the latest just up..I feel quite soon an explosion to the upside....silver to benefit even more.
I am more bullish on Silver than Gold too. My opinion is that Gold still needs to move up slightly more for me to be bullish again. We'll see how the next few days play out. The Dow , S&P 500, Nasdaq and the DAX are looking fragile at the moment....on the brink of a breakdown. Next few days will be critical, but we may see the good old Plunge protection Team step in to save them again. Interesting times !!
I stopped valuing my gold and silver in $/£ value a long time ago.
I stack and count in ounces
Prices of gold being force below $1000 is only a good thing as far as collectors/stackers are concerned.
Who wouldn't want to be something when it's on sale??
Long term forecasts and the certainty that the current fiat currency system will crash and burn is enough for me to buy on the way down and on the way up.
I don't stack to become rich, I stack to stomp myself becoming poor.
That's a great attitude. Yes, Gold is on sale at a great discount.
Spoken like a true stacker. Long live #steemsilvergold
The more I read about the manipulated prices of gold and silver, about how fiat currencies all go to zero, and the general state of the world's economies and their debts, it makes me want to get more silver and gold. However, it's hard to know when it's the right time. And even if it's the right time, do I have enough fiat at that time to make the purchases.
I'm definitely keeping an eye on things. From what I hear, JP Morgan is getting out of their short positions, so it could be that silver is going to take off. It's hard to tell though.
The best strategy is maybe to accumulate a little more as the price goes down. That way, you get more each time. As long as you can afford to hang on to it and not be forced to sell at a loss. Take a look at kinesis.money or Quintric. They are ways to hold metal and spend it too.
That's my plan. I'm trying to buy what I can when I can. If the price goes up, fine because I already have some. If the price goes down, I have the chance to buy more at a discount. I'm not buying more than I can afford, because I lose money when I sell. Unless the price has gone up substantially, I don't want to be selling at all.
Pretty soon Quintric is going to burn all that paper gold and we'll see that price change.
I do hope that is the case. I was not aware of Quintric, sounds a lot like the Kinesis Monetary system.
It's similar but has several advantages.. I want people to know about it because they use legal tender gold, which means it can be used as real money without cap gains - and we need this stuff circulating if we want to get away from fiat. Kinesis also doesn't livestream their gold, or use a scalable blockchain.. so I think Quintric has the better tech - not to mention Stan Larimer is one of the guys behind it. I wouldn't have been so sold if he wasn't on the project. Anyway, great post (and name lol). There is no doubt, we don't have free markets anymore. The Fed and the news control sentiment as well as the boom/bust. Crypto and Gold are the antidotes though.
I'll have to read up on the "legal tender gold" thing, interesting.
Gold is a great investment! I love this
durable and timeless metal.
This Golden lion of pure gold is for you, @ctrl-alt-nwo
source
Nice, thanks for the gift !