Precious Metals Where to Next for Gold?

It's good you put in the date Alex,and your generous with sharing your set-ups and strategies ..

If you can put me on your list if you have place for over 60's ..

 

@willair you are already on the list my friend

Not sure if this will happen but if Gold does a little stop run to take out yesterday's low (I'm suspicious they will do this to clean out the weak hands before next leg up), then 1,209 should be about the limit of where it will go to. Expecting a major impulse higher soon. I'm holding pieces from 1,170 and 1,180 entries and pyramided in again at 1,214 Going to campaign this new uptrend a few times while it's in early stages.

 

nice gold action overnight.

 

Gold appears poised to complete a wave C at an important long term low.

This is likely to occur around 1224/1233 zone and completes a major pattern. Following this, Gold is set to make another bull run much higher until October when the next peak is due.

You do not want to miss this one if you are a fan of Gold, other forecast charts I keep are showing very strong upside potential over the coming months. We are in the broad timing zone now for the ABC correction to end (between purple lines) and projected date for timing of a major low is 30APR19 give or take a couple of days.

There are a number of support levels extending down to where I believe the ideal entry zone is at 1,224 - 1,233. Other support areas include 1,262; 1,255; 1,244. The market may 'take off' before reaching 1,233 area. Around 30APR19 timing will be important to watch for signs of the reversal.

This new impulse higher for Gold is also likely to slightly precede the beginning of a significant correction on world equities markets by a matter of a few weeks.



No advice.

 

@Alex Straker - love your work.
I am even starting to understand some of it. (I know - I am shocked too ).

 

On request of @Alex Straker , I am reposting this here:

"Alex, thank you for your call on gold. I'm set to make your yearly fee a few times over on that one "



This was his call on the 1307 interim top.
I am comfortably short.

 

Have I missed the boat?
How does buying gold even work? Haha

 

Thanks Simon!
I'm a bit more interested in gold after my mate got me onto a documentary from Mike Maloney.
Found it very interesting indeed.

 

The price now (in AUD) is around the same as the 2011 peak, so while it's higher than a few years ago, it's by no means at a price extremity IMO.

Some things to consider before buying here (if looking at physical): Gold and Silver Buyers Guide (Australia): Before You Buy

In Melbourne you have access to Guardian Vaults which would be a reasonable option for private storage: https://www.guardianvaults.com.au

It depends on whether you actually want to own gold or want exposure to the price of it (with added counterparty risk, using an ETF).

If you settle with an ETF I would look into the government backed offerings from Perth Mint: Perth Mint Gold (ASX) - The Perth Mint, Australia

 

Seriously hope some of you guys got on board with this. Quick update to the bullish Gold forecast from April, here we are in June now up over 100 points and the first major impulse higher has likely just completed (5 wave set). Expected timing to begin the bull run forecast was 30APR19 (see post 24APR19). This proved fairly much bang on but Gold did not go to the deeper support levels I had hoped and upper support around 1,262/65 held firm around the cross points of blue & red median lines. Still plenty of room for upside, but in the short term expect a pullback from this recent high. Probably will go all the way back to 1,320's, maybe 1,315 around mid July potentially for next buy point or if the pullback goes longer, mid August is another possible buy zone.



No advice

 

@Alex Straker I just read an article on the train and remember you called it. Should have listened! Ah well next time I will be sure to follo you!

 

For anyone interested in investing in aussie Gold Miners I recommend the following resources:

Australia and New Zealand Gold Mining Analytics - Aurum Analytics

http://www.cet.edu.au/docs/default-...ts-exploding-the-high-grade-myth.pdf?sfvrsn=2

 

Well........if you have been following this theme, the forecast made 24th April was for a bull run until October. I think we can safely say this worked out quite nicely Gold has gone from around low 1,200's to as far as 1,550 area in that period and is currently sitting at 1,530. Conservatively the gain is around 25-30% since April.

Now that October is just around the corner it is time to cash in on this monster size bull run, I am expecting Gold to move in to a down trend (slower than the uptrend phase) for at least a couple of months now.

No advice.

 

I'll wait for the down turn.

Then I'll fly over to the Perth Mint and buy 2 x 1kg bars, throw them in a sports bag and fly back to Sydney.

Might even show my prize catch to a few people along the way lol.

At home, they'll proudly sit on the mantle piece.

Yeah, I'll have insurance. My name ain't Packer lol.

Or am I asking for trouble?

 

Holy hell, are we really living in a world where a 25% gain is a monster bull run? Tough times

 

You're welcome!

 

Gold (spot Gold) short term (today) is likely to rally up to 1,508 resistance area (rally beginning right now approx 2.30pm QLD time). Timing for peak is around 4.30am tomorrow morning (ignore chart time scale, this is different). 1,508 area has a good chance of holding as resistance, if this happens it's likely the downtrend will continue on to low 1,400's.

Gold


No advice

 

Due to high density they're not that impressive in size.