https://quotes.ino.com/charting/?s=FOREX_XAUUSDO
gold is coiling like a spring...
will we break up or down?
Thanks bear,
It's definately putting in lower highs and holding support ......... so a tighter range.....ready for a breakout?
I have a bit of gold bug in me given that it represents 20% of my net worth. But looking objectively at the action, shouldn’t it be rallying smartly with all the talk of inflation?
Poor action IMO.
From you link, updated thru Friday's trade.
The derivative paper gold market maybe see some turbulence at the new year. Basel 3 rules apply Jan 1 so bullion bank liability ratios are likely to adjust or did already. Will the phys and paper spread shrink? Nah, paper is a button push, no manicure anxiety as such. Are there ~2 billion people would like to have 1.oz under their mattress? Yes, east of London ~5000 km
What is the correct price for gold? Depends on what it costs to separate it from dirt plus refining/trans/storage expenses.
What is the right price for BTC? Depends on the price of electricity plus the expense to set up the machines. I'd guess someone somewhere has figured how to mint BTC for under $10k. Would BTC still exist after a x10 Carrington event?
https://www.swpc.noaa.gov/communities/space-weather-enthusiasts