Gold price analysis, fundamentals, news, and charts

Check out these up-to-date price charts! Gold is back in play in 2019, so let's get caught up on the news and technical analysis.

There are several signs the financial system is in trouble (like 2008/9), which could be very bullish for gold:

• bond market inversion
• overnight/repo rate spike
• daily Fed bailouts
• serious plans for "helicopter cash"

Don't forget that in the past couple months, regulators have finally begun to go after some of the longstanding manipulators of the gold market. Whether or not this has a direct effect on prices right now, at the very least, it is drawing attention to the reality that banks have been suppressing gold to keep the dollar attractive for a long time.

There are also escalating tensions and war in many parts of the world, with trade wars already putting major strain on markets and international relations.

With everything in the news and fundamentals saying gold should be at all-time highs...

Currently 1465 USD, gold has just completed a 2-month-long classic head and shoulders pattern, and followed through to a fresh low. The downmove might not be over.

The other really good gold chart right now is the 20 year long term logarithmic chart:

If you're bearish on gold (other than extremely short timeframes), are you not aware of the price history shown above? I'd like to hear the gold bears explain themselves at this point.

For more detail, the nominal chart:

That whole head and shoulders pattern from the previous chart is represented by the last couple bars on the very right. What a nice upmove gold has had recently! I managed to perfectly predict it 7 months ago.

After such a big move up, isn't a short 'breather' normal and healthy? I think so. Expecting gold to continue up at that pace, month after month, is a bit premature. (That time will come.)

For now, I think a couple weeks off before the bull market resumes is appropriate. Maybe it'll come down to 1400 or so?

Either way, looking at the second chart, and the news/fundamentals, I think we should consider the current price weakness to be a temporary retracement in an otherwise extremely robust long term bull market, with years (and thousands of dollars) yet to go.

Up here in Canada, gold is already at the all-time high:

I remain very bullish on gold (and silver) bullion. Any dip in prices at this point feels like a gift.

DRutter