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Is Gold Making A Move?

By Tim KnightCommoditiesJul 29, 2021 10:21AM ET
www.investing.com/analysis/is-gold-making-a-move-200594566
Is Gold Making A Move?
By Tim Knight   |  Jul 29, 2021 10:21AM ET
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Do my eyes deceive me? Did we all wake up to gold not flat-lining? Could it be?

Gold Daily Chart.
Gold Daily Chart.

Because the terrific performance gold has had over the past futures session is really just a blip when you look at the daily chart.

Gold Daily Chart.
Gold Daily Chart.

All the same, I’ll take it. It gets kind of nauseating to see the likes of Bitcoin leap $8,000 in a single day while gold stands in a corner. I own a goodly amount of the stuff, and it would be nice if, ya know, someday it wasn’t the most boring investment on the planet.

Another View Of Gold Chart.
Another View Of Gold Chart.

I haven’t lost faith, though. Long-term – and I do mean long term – it still looks absolutely sensational. Here’s the multi-decade continuous futures contract. The next important goal is to clear the $1,910 level. Fingers crossed.

Long-Term Gold Chart.
Long-Term Gold Chart.

On a shorter-term note, the preliminary GDP numbers came out. The chart below is easy to interpret. The gold bar shows the expert estimate of what the number would be. The blue bar shows the actual number. Let’s just say this was a vast overshoot in expectations.

GDP Actual And Expected Levels.
GDP Actual And Expected Levels.

I’m thinking of a word. Let’s see if you can guess it. It’s three syllables.

OK, here’s another hint. It starts with “stag” and the later part is “flation.”

 

Is Gold Making A Move?
 

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Is Gold Making A Move?

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Comments (5)
MuraliKrishna Brahmandam
MuraliKrishna Brahmandam Jul 30, 2021 1:52AM ET
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let us get big chunky droppings, pressure mounts
MuraliKrishna Brahmandam
MuraliKrishna Brahmandam Jul 30, 2021 1:51AM ET
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only big size chunky droppings in stocks will make gold go up
Yankee Steve
Yankee Steve Jul 29, 2021 5:36PM ET
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Deflationary spiral
Gary Icemangold
Icemangold Jul 29, 2021 4:34PM ET
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Switching my Gold to Crypto.!
Ioannis Lazaridis
Ioannis Lazaridis Jul 29, 2021 10:39AM ET
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Well , we hold gold stocks but we remember stagflation in 70s. For the well being of the majority of the people on earth healthy inflation is much better and low gold prices..let them be low.
Ioannis Lazaridis
Ioannis Lazaridis Jul 29, 2021 10:39AM ET
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Tubsy SkinntFinger  : Yeah , the markets... That´s why I keep half of my capital in gold miners , the rest Tech stocks.. And you ? A big shark of the market or a keyboard warrior ? Are unemployed ?
 
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