Gold price rises, will it reach $3000?

[timsk]

I know this thread is specifically about gold, so apologies to all subscribers for a post about silver. That said, some peeps believe the cheaper precious metal will outperform it's more expensive sibling in 2025. Given their correlation, anyone who follows gold closely would do well to pay attention to silver as well, IMO.
Published in ZeroHedge over the weekend, enjoy . . .
From Betrayal to Opportunity: Why Silver Shines as a Smart Investment Today

 

[Zerologic]

I know this thread is specifically about gold, so apologies to all subscribers for a post about silver. That said, some peeps believe the cheaper precious metal will outperform it's more expensive sibling in 2025. Given their correlation, anyone who follows gold closely would do well to pay attention to silver as well, IMO.
Published in ZeroHedge over the weekend, enjoy . . .
From Betrayal to Opportunity: Why Silver Shines as a Smart Investment Today

Investors often positively correlate the two. Silver is an alternative to a balanced portfolio. Although sometimes there are movement anomalies, in the long term, the trend moves in the same direction.

 

[Simon54]

I know this thread is specifically about gold, so apologies to all subscribers for a post about silver. That said, some peeps believe the cheaper precious metal will outperform it's more expensive sibling in 2025. Given their correlation, anyone who follows gold closely would do well to pay attention to silver as well, IMO.
Published in ZeroHedge over the weekend, enjoy . . .
From Betrayal to Opportunity: Why Silver Shines as a Smart Investment Today

Agreed - due to geopolitical tensions it works in parallel to Gold but yes it is more expensive in 2025 but trader correlate these too.

 

[Zerologic]

In 2025, gold may still be a concern for big investors, even Goldman Sachs is targeting gold to reach $3000 citing geopolitical risks and the uncertainty of the Trump administration. At the beginning of January, gold was seen rising to around $2660 after dropping to $2584 ahead of Christmas and New Year.

 

[Simon54]

In 2025, gold may still be a concern for big investors, even Goldman Sachs is targeting gold to reach $3000 citing geopolitical risks and the uncertainty of the Trump administration. At the beginning of January, gold was seen rising to around $2660 after dropping to $2584 ahead of Christmas and New Year.

Almost there at $2660. Where'd you see it next?

 

[Zerologic]

The high volatility of gold allows price changes to quickly change direction, this weekend gold fell again even though it has not yet reached support, for now there is a possibility that the market will move in a range.

 

[Zerologic]

Gold today seems to still be moving flat near the middle band line, this may be the mean price of the Bollinger band deviation. Gold's rise in early January seemed to be triggered by Trump's speech about attacking Iran's nuclear facilities, even though at that time the dollar index was strengthening.

 

[ChelseaR]

I think Gold is picking up after China hinting towards strong services data and more stimulus. I'm just waiting for more updates from US.

 

[Zerologic]

It's good news if China hints at more stimulus, which might also have an impact on Chinese gold demand, but it doesn't rule out US data which is predicted not to cut interest rates at the January meeting which might hamper the pace of gold demand.

 

[Zerologic]

Gold rose yesterday but failed to exceed $2664 and bounced down with a gap down visible on the H1 timeframe, the price of gold is now around $2647, perhaps gold is still challenged by the Fed which is not expected to reduce interest rates at its January meeting.

 

[ChelseaR]

Gold rose yesterday but failed to exceed $2664 and bounced down with a gap down visible on the H1 timeframe, the price of gold is now around $2647, perhaps gold is still challenged by the Fed which is not expected to reduce interest rates at its January meeting.

Yeah, even I think China’s stimulus could boost gold demand but I am worried that the Fed’s stance might slow things down. Do you think the Fed would stay hawkish?

 

[Simon54]

Gold rose yesterday but failed to exceed $2664 and bounced down with a gap down visible on the H1 timeframe, the price of gold is now around $2647, perhaps gold is still challenged by the Fed which is not expected to reduce interest rates at its January meeting.

Do you think it will break through if Fed signals any changes?

 

[Zerologic]

Gold still seems to be stuck at resistance at $2669. Today investors are waiting for the FOMC minutes which could affect financial markets including gold.

 

[ChelseaR]

Gold is retreating from the monthly high!

 

[Simon54]

Gold is retreating from the monthly high!

yes, reason being US employment data?

 

[Zerologic]

Ahead of today's NFP release gold prices are floating around $2670 near the middle band line on the hourly time frame. Even though it is sometimes only a temporary effect, the release of NFP data may cause rising gold volatility.

 

[Simon54]

Do you adjust trades near data releases?

 

[Zerologic]

Do you adjust trades near data releases?

No. Previously I tried pending orders at a fairly wide distance from the present price, NFP often causes volatility to increase, so there is more risk in this condition.

 

[Zerologic]

The NFP released on Friday suddenly made the USD strengthen against other currencies, but the effect seemed to be short-lived, the strengthening paused and returned to normal and even saw a weakening of the USD, while gold soared to $2697 amid news of the fire in LA.

 

[Simon54]

No. Previously I tried pending orders at a fairly wide distance from the present price, NFP often causes volatility to increase, so there is more risk in this condition.

Don't you think to trade when the dust settles?