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Gold Fails To Thrive

By Tim KnightCommoditiesSep 16, 2021 02:27PM ET
www.investing.com/analysis/gold-fails-to-thrive-200602181
Gold Fails To Thrive
By Tim Knight   |  Sep 16, 2021 02:27PM ET
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After years of resisting, what finally pushed me over the edge and into crypto was my disgust at gold’s behavior. Precious metals should be thriving right now. Precious metals should be where the smart money goes. But, nope, and this morning is no exception.

I'm glad to have nothing to do with gold anymore. 

Gold 5-Minute Chart.
Gold 5-Minute Chart.

As a chartist, I was convinced of gold’s lameness recently because of the failed trendline. This line is resistance now.

GLD Chart.
GLD Chart.

It’s even worse with silver. Even when I was still trying to make a go of it with gold, I thought silver stunk. It has a mountain of overhead supply. It’s comic that the wallstreetsbets crowd actually thought they could “squeeze” the silver market to the heavens earlier this year. This metal is even worse than gold itself.

SLV Chart.
SLV Chart.

Not to say that all hope it lost. The long-term (and I mean long-term) picture for gold isn’t ruined yet. Years from now, it could absolutely be $5,000 per ounce. For now, however, I prefer to trade profitably, which is why I’ve thrown caution to the wind and am purely into digital assets that do not exist in any physical sense.

Gold Chart.
Gold Chart.

Gold Fails To Thrive
 

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Gold Fails To Thrive

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Comments (17)
Lawrenti Berija
Lawrenti Berija Sep 20, 2021 3:05PM ET
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Kus emek!
Bubba Born
Bubba Born Sep 18, 2021 9:29PM ET
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Remember this first. It's just a metal!
Val Mirov
Val Mirov Sep 17, 2021 3:53AM ET
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That last plunge in gold yesterday was a kick in the metal balls of a gold community. That picture in the chart is epic. See you around 1400.
my name
my name Sep 17, 2021 1:18AM ET
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gold never have been so alive! 100 years ago it was only $20 and 1 year ago it was approaching $2100 !!! You can calculate ROI....
simone scelsa
simone scelsa Sep 17, 2021 1:15AM ET
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So time to buy gold then.  Smart money know what's up. Precious metals price is being kept at current level on purpose, Central Banks around the world are dumping their US treasuries and increasing gold reserves before the currency reset. After all pieces are positioned on the board, gold and silver will ******up.
Fundementals RCool
Fundementals RCool Sep 17, 2021 12:44AM ET
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Sounds like capitulation...well done.
Fundementals RCool
Fundementals RCool Sep 17, 2021 12:43AM ET
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Sounds like capitulation
paolo genovesi
paolo genovesi Sep 17, 2021 12:41AM ET
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Your disgust and horror at gold may well be short lived. At least in relative terms. One thing i learned trading the markets is patience, And you need lots of it with precious metals. My plan is accumulate now on gold miners with an horizon of 3 to 5 years. We shall be rewarded handsomly.
Lawrenti Berija
Lawrenti Berija Sep 17, 2021 12:41AM ET
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Im afraid you need to double, tripple or even quadruple the time frame...
Ioannis Lazaridis
Ioannis Lazaridis Sep 17, 2021 12:41AM ET
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: I regret to say that I have to agree with you . Regret because until a month ago I was following Paolo's strategy. 40% of my savings locked in gold miners. I've decided that even 10% is really a lot. With the 1st opportunity I will sell even at a loss.
Art Peterson
Byonik Sep 17, 2021 12:19AM ET
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You basically have to day trade JNUG make any money on gold these days.
Ioannis Lazaridis
Ioannis Lazaridis Sep 16, 2021 11:20PM ET
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Hi Tim. You displayed very well the reality gold/crypto. You displayed very well your thoughts about them. Articles rich in information , as today's one , help self educated investors to get orientated and make better decisions. Thanks.
CH Goh
CH Goh Sep 16, 2021 9:29PM ET
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Useless article indeed
Sol Wein
Sol Wein Sep 16, 2021 9:13PM ET
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At least you hedged yourself by not looking that dum b and saying gold has a change. It does indeed and it will happen when people like you capitulate
Laid Zipleen
Laid Zipleen Sep 16, 2021 9:09PM ET
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another useless article from another useless people.
Andrew Barclay
Andrew Barclay Sep 16, 2021 6:27PM ET
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Markets arent rational. Go with the flow. Mind you crypto etc is overpriced and overhyped, there are much better opportunities for making money..
Bob Mcadoo
Bob Mcadoo Sep 16, 2021 6:21PM ET
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Guess were close to the bottom
Lawrenti Berija
Lawrenti Berija Sep 16, 2021 6:21PM ET
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unfortunately his opinion is insignificant - otherwise I would agree
Todd Holaday
Todd Holaday Sep 16, 2021 4:57PM ET
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I like your last sentence. Caution to the wind to buy digital assets with no physical presence. It is a truthful look at what you and many others are doing and convinces that I shouldn”t, despite the short term numbers.
Fabio falec
falec Sep 16, 2021 2:41PM ET
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"my disgust at gold’s behavior" "I’ve thrown caution to the wind and am purely into digital assets that do not exist in any physical sense" In a world with the lowest ever interest rates as well as the perceived inflation, makes sense to go with the crawd. Poor guy!
Glock Blackni
Glock Blackni Sep 16, 2021 2:41PM ET
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Psych
 
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