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Gold Monitoring Thread £ GBP only


Paul
Message added by ChrisSilver

This topic is to discuss price action in GBP, to discuss price action in $ USD, please see this topic: https://thesilverforum.com/topic/19962-gold-monitoring-thread-usd-only/

 

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Got a ‘hunch’ the POG might be heading south.....As soon as there is an end to this Brexit shambles, I can see it tanking down a quick $60 to $80USD.The markets will go RISK ON big time. Plus Trump will undoubtedly announce some sort of settlement with the Chinese any time soon..he has been too quiet on this front lately.

The commercial Banks are still short c300,000 contracts, and they rarely end up on the wrong side of a trade..

When you put all this together (for me anyways) it’s time to jump ship,

For this reason, my trading account is now 80% cash, and I will sit on the fence and observe what happens..always better to buy back in at a higher price than to watch paper profits disappear.

...Just the musings of an amateur trader...other opinions more than welcomed.

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  • 3 weeks later...
2 hours ago, vand said:

Entering bloodbath phase of the current correction.

Weak holders are getting flushed out.

Very oversold now, and moved back to 4.5% of the 233dma.

We will have made firm new highs by Easter 2020.

Reasonable theory. Must say though I've never seen use of a 233 dma before. 200 most commonly used😊

Profile picture with thanks to Carl Vernon

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Thankfully I offloaded a bunch of gold (90g) and then bought more on the fall, should he sitting nice if it doesn't fall to $1200, but jewelry is jewelry so it would just cut profit not make loss...thankfully got some rich people around me who will drop thousands on a piece that's nice.

Might have to invest some profit in eagles just to take some money off the table and get In while it's deflated.

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  • 3 weeks later...

So what do we think the gold price will do up to Christmas and in the new year? 

I feel it’s been hovering around the 1130/Oz over the last few weeks. 

I feel the economy will do well over Christmas and the New Years and then a dip should start pushing the price of gold up again. 

This is complete guess work, I don’t read. 

Thoughts? 

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30 minutes ago, TheGeneral said:

So what do we think the gold price will do up to Christmas and in the new year? 

I feel it’s been hovering around the 1130/Oz over the last few weeks. 

I feel the economy will do well over Christmas and the New Years and then a dip should start pushing the price of gold up again. 

This is complete guess work, I don’t read. 

Thoughts? 

If  labour and SNP join forces and they get in gold will be a lot higher come Christmas. 

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On 09/12/2019 at 12:41, AurumArgenti said:

I've watched a few analysis that think there will be a little rise followed by some traders FOMO pushing the price up?

God knows.😵

 

Looks like the analyst were correct, gold just bounced off the £1130 mark.🤔  

Edited by AurumArgenti
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