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[stonedyou] 22/4/2024 20:53

BRICS GOLD train leaving the station - Destination Revalue Rd. - LFTV Ep 169

Kinesis Money

46,528 views Apr 19, 2024



In this week’s episode of Live from the Vault, Andrew Maguire is joined by TF Metals Report’s Craig Hemke to address the community’s pressing questions on the FED’s suppression struggles, predictions for gold and silver and insight into BRICS.

The precious metals experts explore the significance of physical gold deliverability towards the success of the BRICS currency, which is forcing Western central banks to drastically reevaluate their predictions on the gold price.

Ask your questions for Andy here:

[stonedyou] 19/4/2024 13:20

Gold (XAU) Daily Forecast: Price Peaks at $2417 Amid Mid-East Tensions.

By:
Arslan Ali

Key Points:

Gold XAU/USD surges to $2417 amid military strikes in Iran but later drops.

Fed's decision to maintain interest rates influences gold's non-yielding status.

China's consistent gold reserve accumulation supports higher market prices.


Gold

-0.02%

Market Overview
The Gold XAU/USD price has seen an uptick, rising to new heights $2417 on Friday amid escalating geopolitical tensions, however, gold couldn’t sustain it’s bullish trend and reversed back to trade near $2380. Reports of military engagements in Iran, coupled with Israel’s recent retaliatory strikes, have bolstered gold’s status as a safe-haven asset, driving prices upward as investors seek stability.

The XAU/USD price surge is notably influenced by these ongoing conflicts in the Middle East, which continue to stoke fears of a broader regional conflict.

Impact of Federal Reserve’s Monetary Policy on Gold Prices
Further influencing the XAU/USD forecast is the Federal Reserve’s current stance on interest rates. The consensus among Federal Reserve policymakers is to maintain current borrowing costs into the foreseeable future due to uneven progress on inflation control and a robust U.S. economy.

This decision impacts gold as higher interest rates typically raise the opportunity cost of holding non-yielding assets like gold.

China’s Role in Gold’s Market Dynamics
Adding another layer to the gold price forecast, China’s ongoing accumulation of gold reserves provides a substantial undercurrent supporting the market.

According to Ilya Spivak, head of global macro at Tastylive, this trend is expected to continue, further enhancing the upward trajectory of gold prices in the international markets.

Economic Indicators
Key economic indicators released today also play a critical role in shaping market sentiment:

U.S. Unemployment Claims dropped to 212,000 from the previous 215,000. The Philly Fed Manufacturing Index experienced a significant jump to 15.5, far surpassing expectations.
Meanwhile, Existing Home Sales slightly declined to 4.19 million from 4.20 million, and the Conference Board’s Leading Index adjusted down to -0.3% from -0.1%.
As the International Monetary Fund (IMF) meetings continue today, further developments are expected to influence the global economic landscape and, consequently, the gold market.

Gold currently trades at $2,381, marking a modest increase of 0.10%. It hovers slightly above today’s pivot point at $2,363.79, hinting at a restrained bullish sentiment. Immediate resistance is positioned at $2,403.98, with further ceilings at $2,431.98 and $2,459.86.

On the downside, support lies at $2,323.92, extending to $2,296.85 and $2,268.55, which could come into play should the trend reverse. The technical landscape shows the 50-Day Exponential Moving Average (EMA) at $2,359.342, slightly below the current price, suggesting potential near-term support.

Conversely, the 200-Day EMA at $2,251.548 underscores a longer-term upward trend. Today’s candlestick pattern, characterized by a long shadow and small body—an inverted hammer—signals potential weakness in the ongoing bullish trend.

Conclusion: The outlook for gold remains bullish above the pivot of $2,363.79, with any breach below this level potentially catalyzing a sharp decline in prices.

[stonedyou] 19/4/2024 09:42

Vietnam's central bank to resume gold bar bidding after 11 years
Submitted by admin on Thu, 2024-04-18 11:46 Section: Daily Dispatches

From Vietnam News Agency, Hanoi

Tuesday, April 16, 2024



The State Bank of Vietnam will resume gold bar bidding after 11 years, aiming to increase the supply of gold to the market and promptly and immediately settle the high difference in domestic and international gold prices, thus ensuring the gold market operates in a safe and stable, healthy, open, transparent, and effective manner in accordance with the prime minister's direction.

[stonedyou] 17/4/2024 21:11

Gold Stocks: Good Times Are Here

April 17, 2024


Stewart Thomson

Graceland Updates


1 Mainstream analysts are becoming more excited about gold… even as it becomes technically overbought on the daily and weekly price charts.
2 Please click here now. Most Wall Street analysts failed to project the current rally. Are they wrong again now, or is gold set to keep rallying in its overbought state?
3 Please click here now. Click to enlarge this spectacular weekly gold price chart. 4 Both RSI and Stochastics are clearly overbought…
5 But if the fundamentals are strong gold can continue to rally for weeks, months, or even years while staying technically overbought.
6 On that note, please click here now and also here. Two of the big drivers for gold right now are the citizens of China and the 2021-2025 global war cycle.
7 While total GDP is solid, Chinese retail sales are soft, the stock market and real estate are weak, so citizens there are focused on gold and silver for safety and growth.
8 While Israeli and Iranian warmongers are unlikely to get out of control, there’s enough animosity and action between them to keep Western gold market analysts in a bullish stance.
9 The US government’s failed war in Ukraine could become a bigger quagmire if Congress borrows more fiat and uses it to prolong its proxy fight against the Russian government.
10 Gold would likely then begin a charge towards $3000.
Please click here now. Click to enlarge. The dollar is collapsing against ultimate money gold… and another leg down is at least as likely as a technical bounce.
11 On past meltdowns, the dollar hasn’t shown any technical rally after the initial collapse; it keeps falling into the abyss for months… and sometimes for years!
12 Short-term tactics? Please click here now. Click to enlarge. There are weak H&S tops appearing on the gold ETF hourly price charts, but unless the necklines break ($2320 for gold itself), gold, silver, and the miners likely continue their “upside rampage”.
13 While a pullback of size looks increasingly unlikely, if it does happen, investors can do some aggressive buying in the $2200-$2050 zone.
14 Western analysts tend to focus on silly price targets (that are mostly wrong) while 3 billion Eastern citizens are focused on getting more gold. The bottom line:
15 Western gold bugs should ignore the analysts, focus on the actions of their Eastern brethren, and compete with them to get as much gold on sale as they can!
16 A daily focus on the big picture is critical for investors as inflation, recession, the 2021-2025 war cycle, a wildly overvalued stock market, debt ceiling horror, and empire transition dominate the investing landscape.
17 Please click here now. Click to enlarge. There’s no question that this long-term silver chart is one of the most spectacular charts on the planet.
18 Note the “LOI” (line of importance). It’s drawn a bit differently than the classic inverse H&S neckline…
19 But it is even more important than the neckline as it ushered in the thunderous breakout and rally from what is one of the largest base patterns in the history of markets!
19 Rather projecting price targets for “big fiat profits”, this beautiful chart beckons silver bugs to focus on the “GMS” (Get More Silver!) theme that is embraced with gusto by citizens of China and India.
20 What about the miners? Well, please click here now. Click to enlarge this interesting GDX daily chart. Note the double-bottom action in February-March in 2023 and the same action in 2024.
21 The technical action is similar, but the fundamental drivers have changed; in 2023 analysts assumed that rate hikes from the Fed would slay the US inflation dragon.
22 Now, recent reports (including the “supercoreR21; number that is close to 8%) suggest the inflation is much stickier than expected… and it’s the type of inflation that’s resistant to rate hikes.
23 Rather than swooning into October like they did in 2023, gold and silver mining stocks are more likely to have little more than a pullback that forms a right shoulder of a big inverse H&S pattern, followed by a surge to $40-$45, basis GDX. 24 Western money managers are becoming frustrated with their stock market, the crypto ETF-themed rally has fizzed, and they are impressed with action of the miners. The bottom line: Good gold stock times are here, and a lot more may be near!

Thanks!

Cheers

ST

[stonedyou] 16/4/2024 16:56

GOLD / USD
$ 2384.75$ 2384.98 2.85 0.12%

GOLD / GBP
£ 1917.79£ 1917.98 4.11 0.21%

GOLD / EUR
€ 2244.57€ 2244.74 2.76 0.12%

[juuunx2] 16/4/2024 16:11

Yep not sure why hanging sub 30

[stonedyou] 15/4/2024 09:38

Gold rate today: Israel-Iran war continues to fuel gold prices despite US dollar rate touching 34-year high against Yen.

15 Apr 2024, 10:51 AM IST

Asit Manohar


Gold rate today, 15th April 2024: Despite the rally in the US dollar index, gold prices continue to trade with positive bias during early morning deals on Monday. On the Multi Commodity Exchange or MCX, gold rates today opened higher at ₹72,214 per 10 gm and went on to touch an intraday high of ₹72,362 per 10 gm within a few minutes of the commodity market's opening bell. In the international market, spot gold price is trading around $2,360 per troy ounce, which is around 0.70 percent higher from its Friday close.

Iran-Israel war in focus
Speaking on the reason for the rise in the gold prices, Royce Vargheese Joseph, Bullion & Energy Research at Kotak Securities said, "Gold prices are largely driven by escalating tensions between Iran and Israel amidst the ongoing Middle East crisis. This geopolitical uncertainty has fueled a rush into safe-haven assets, propelling gold prices up by 1.60 percent. Despite this sharp increase, the overall trend in gold remains bullish, with strong support seen at ₹70,000 per 10 gm mark."


“Gold and silver prices are rising despite the continuous rally in the US dollar index. The US dollar index touched 106 level and the US dollar rate has hit a 34-year high against the Japanese Yen, but the escalating tension in the Middle East has pushed demand for the safe haven," said Anuj Gupta, Head of Commodity & Currency at HDFC Securities.

After Israel's counterattack on Iran, the geopolitical tension in the Middle East has further escalated. Iran fired more than 300 drones and missiles at Israel, which Tehran said was in response to the April 1 strike on its consulate in Syria. Almost all Iranian drones and missiles were shot down by Israeli, US, and allied forces before they reached their targets.

To stop further escalation of the Middle East crisis, US Secretary of State Antony Blinken on Sunday reached out over the phone to the foreign ministers of Jordan, Saudi Arabia, Turkey, and Egypt, while Defense Secretary Lloyd Austin had calls with his Saudi and Israeli counterparts, amid signs of an escalating crisis in the Middle East following Iran's strikes on Israel.

Gold rate today: Important levels
On important levels regarding gold price today, Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher said, "The precious metal has been skyrocketing in the last one and a half month from ₹62,200 zone to touch ₹72,800 per 10 gm levels, gaining almost 17% in a very short period. Currently, with the geo-political tensions looming around, the yellow metal is anticipated to gain further in the coming days with near-term targets of ₹73,700 and ₹75,200 levels. The near-term support would be maintained near the ₹70,200 zone as of now."

[stonedyou] 13/4/2024 11:35

Yep, agreed....

[juuunx2] 13/4/2024 10:13

Plenty of upside here must be raking in profits at these prices. Overdue re rating

[cinoib] 12/4/2024 12:38

$2,400 and heading for $3,000 is my bet and if I buy back in it's sure to drop. Remembering where it was when gold first touched $2,000 then we should now be about 36p not 24.