DiscoverGold
15時間前
Gold Stalled at Resistance – Bearish Continuation Ahead?
By: Bruce Powers | March 7, 2025
• Gold tested $2,930 resistance but failed to break higher, increasing the risk of a bearish continuation toward key support at $2,833 and then $2,810.
Gold continued to show strength on Friday as it further consolidated and tested resistance around 78.6% retracement area at $2,930. There is a tight four-day consolidation range starting from Tuesday’s low of $2,882 and rising to today’s high of $2,930. Following another test of resistance at the 78.6% retracement, gold is on track to end Friday’s session in a relatively weak position, in the lower half of the day’s trading range and below the 20-Day MA, now at $2,911.
Today may be the first daily close below the 20-Day line since it was reclaimed four days ago. And it will follow a failed attempt to break out to a new high for the trend earlier in the session. Failed breakouts can lead to sharp moves in the opposite direction.
Another Leg Down Anticipated
Another leg down in gold has been anticipated given last week’s bearish reversal following a new record high of $2,956. The week ended with a weekly bearish engulfing pattern as gold fell below support of the prior two weeks and it ended the week in a bearish position, in the lower third of the week’s trading range. Furthermore, a breakdown of a rising trendline and 20-Day MA triggered, thereby further confirming weakness. There has been only one leg down from the $2,956 record high today and a minimum of two legs down is common for a bearish retracement.
Successful Test of Resistance
This week’s advance tested prior support of the trendline as resistance, and resistance was seen around the line. The 20-Day line is the other trend indicator that was tested as resistance, but it failed as resistance because gold rose above the 20-Day MA and traded above it for four days. Nonetheless, taken together, gold may have completed its counter trend rally to test prior support as resistance. Once that happens, the chance for a bearish continuation improves.
Inside Week Provides Key Price Levels
An inside week is established for this week, leaving two key price levels to be considered. The low for the week was $2,855 and the high is $2,930. A decisive move through either price level may determine the next direction. Although the technical evidence is more on the bearish side, a sustained rally above this week’s high would require a realignment of views and would open the possibility of a bullish continuation of the trend in the near term. On the downside, the next lower target for gold if the recent swing low at $2,833 fails to retain support, is a range around $2,813 to $2,810, consisting of the 38.2% Fibonacci retracement and the initial target for a falling ABCD pattern, respectively.
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surfer44
21時間前
Five Reasons Why Gold Remains the Ultimate Safe Haven Asset
In times of economic uncertainty, investors seek refuge in assets that offer stability, protection against inflation, and a safe harbour during times of market crisis and uncertainty. Gold, with its enduring appeal and historical significance, has consistently held the title of the ultimate safe haven asset. In this article, we delve into the five compelling reasons why gold continues to shine as the go-to choice for those looking to safeguard their wealth and weather the storms of the financial world. From its role in providing economic stability to its ability to act as a hedge against inflation, gold has proven its worth as a resilient and trusted asset.
Reason 1: Economic Stability
In the unpredictable world of finance, where market fluctuations and economic crises can strike without warning, gold has long been a symbol of stability and financial security.
Gold serves as a reliable store of wealth, consistently maintaining its value throughout history. Unlike paper currencies, which can lose value due to inflation or economic turmoil, gold’s intrinsic worth endures. This resilience isn’t a recent phenomenon as gold has consistently weathered countless economic storms throughout the years. For instance, during the recession in 2008, as stock markets plunged, gold surged in value and investors turned to gold as a safe haven, recognising its ability to retain value when other assets falter.
It is because of this that trust in gold persists during these turbulent times. Whether it’s geopolitical tensions or currency devaluations, investors turn to gold for stability, a timeless resource they can rely on.
Reason 2: Inflation Protection
In the ever-changing landscape of finance, where the eroding effects of inflation can quietly erode the purchasing power of money, gold stands as a steadfast guardian against this monetary threat.
Gold is a proven hedge against inflation as it is said to preserve the real value of assets when other prices rise. This is because, unlike traditional fiat currencies, whose value can diminish as central banks print more money, gold’s worth remains resilient. Throughout history, it is often said that gold has shielded investors from the erosive impacts of inflation and today, in times when the cost of living escalates, gold’s intrinsic value tends to shine even brighter, providing a tangible and enduring asset against the dwindling worth of fiat paper money.
Reason 3: Diversification Benefits
In the intricate world of investments, diversification is a powerful strategy to mitigate risk and gold’s unique characteristics make it an invaluable asset for diversifying investment portfolios.
Gold offers diversification benefits due to its low correlation with other assets, such as stocks, shares and bonds. When the values of traditional investments fluctuate, gold often moves in the opposite direction, providing a balancing effect that can help reduce overall portfolio risk and reduce the effect on your portfolio as a whole.
The ability to offset losses in one asset class with gains in another is a fundamental principle of diversification. Gold’s historical tendency to perform well during times of economic uncertainty and market volatility makes it an attractive choice for investors looking to spread risk and maintain a stable, resilient portfolio.
Reason 4: Crisis Resilience
In times of global turmoil and financial crisis, gold stands as an enduring symbol of resilience and strength. Throughout history, gold has consistently demonstrated its ability to withstand crises and when geopolitical tensions escalate or financial markets become turbulent, investors often seek refuge in gold as a safe haven. This is because its value tends to surge during these periods, serving as a protective shield for wealth.
The outbreak of COVID-19 and the resulting impact on the financial markets provides a vivid example. As stock markets plummeted and economies and stock markets teetered on the brink, gold’s value surged. Investors recognised its ability to retain value and sought refuge in this timeless asset. This resilience is not a newfound trait; it’s an inherent quality that has served investors for centuries and in a world where uncertainty looms large, gold still remains a steadfast and reliable resource.
Reason 5: Global Demand
Gold’s enduring allure as a safe-haven asset is further bolstered by its global demand and diverse uses. As a precious metal with intrinsic value, gold enjoys a consistent demand worldwide as it serves not only as an investment but also finds extensive use in various industries, from electronics to dentistry, further enhancing its desirability.
The investment demand for gold remains robust as investors worldwide recognise its role in preserving wealth and often choose to include it in their portfolios. Additionally, the emergence of digital assets, like The Royal Mint’s DigiGold, has expanded accessibility and convenience for those looking to invest in this precious metal. One of the key benefits of gold is the ease of liquidation when you need to do so. Many companies, including The Royal Mint, offer a ‘buy back’ service where investors can sell their gold, silver or platinum at competitive live-market prices.
The diverse demand for gold, coupled with its status as a timeless investment, reinforces its position as the ultimate safe-haven asset. Whether sought after for its aesthetic appeal, industrial utility or investment potential, gold’s universal demand highlights its importance in today’s ever-changing financial landscape.
Conclusion
In a world where financial landscapes regularly shift, gold remains an unwavering symbol of stability and resilience. Although this brief article explores the five key reasons, there are many other factors which impact gold and make it clear why gold holds the esteemed title of the ultimate safe-haven asset.
In an ever-changing financial landscape, gold’s intrinsic value and versatility continue to make it a preferred choice for those seeking stability and protection for their wealth. Whether considered for its historical significance, its role as a hedge, or its ability to enhance portfolio resilience, gold remains a trusted and timeless asset. As the world evolves, gold remains the steadfast anchor for those navigating the uncertain seas of finance, providing reassurance and strength in an ever-changing world.
DiscoverGold
2日前
Gold Holds Near Highs but Faces Potential Bearish Reversal
By: Bruce Powers | March 6, 2025
• After a strong rally, gold is testing key resistance, and a break below $2,891 could signal a deeper correction toward the $2,810–$2,813 support zone.
Gold continued to show strength on Thursday as it further consolidated near this week’s highs. On Tuesday a new high of $2,930 was reached for the current short-term rally. It followed a bullish reversal from support and a swing low at $2,833 (B) established last Friday. In addition, the closing price of the past two days was above the 20-Day MA, now at $2,909, and it looks like the same may happen today.
At the time of this writing, gold is trading in the top half of the day’s trading range, and it looks like it may end the day in a similar position. Also, a lower daily high and lower daily low will be established today, unless the week’s high at $2,930 is reclaimed before the end of the trading session.
Advance Completed a 78.6% Retracement
The completion of a 78.6% retracement was reached this week, and it was followed by a one-day bearish reversal signal today. This improves the chance that gold may see at least another leg down in the correction before it is through. There has only been one leg down so far, that ended at $2,833. Although the 20-Day line, which was previously dynamic support, was broken to the downside last Thursday, it followed the breakdown of another trending indicator, an uptrend line.
During the current advance the 20-Day line failed as resistance. However, the rising trendline shows a successful test of resistance around the trendline, which previously marked dynamic support. Might the trendline be tested again as resistance. Certainly, if there is an advance above this week’s high the trendline is a key area to watch for resistance.
Bearish Continuation Will Target $2,813
A bearish continuation of the one-day reversal signal will be indicated on a drop below today’s low of $2,891, as it triggers a bearish continuation. That will put gold in a position to test the next lower target zone, which is around the 38.2% Fibonacci retracement at $2,813. The 38.2% retracement level is joined by the initial target for a falling ABCD pattern (purple) or zig zag pattern, at $2,810.
Since there are two indicators marking a similar price target ($2,813 to $2,810), it becomes more likely to be reached and show signs of support. A deeper bearish retracement following a new trend high in gold, should better prepare to continue to advance if a new high is triggered again. In the short-term the bull trend had gotten extended and due for a rest.
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NYBob
2日前
Brien Lundin: Gold's Ultimate Move Still to Come, Get Positioned Now
Investing News
47.4K subscribers
https://www.youtube.com/watch?v=lW7Bl0p6EdA
Charlie Ward SHOCKING 3.5.25 - The Major Shock That's Coming > This is UNBELIEVABLE
https://rumble.com/v6q69oa-charlie-ward-shocking-3.5.25-the-major-shock-thats-coming-this-is-unbelieva.html?e9s=src_v1_ucp
Dome Mines Limited a Canadian mining company that existed from 1910 to 1987.
Is CEO Tony Makuch) to Restart Dome by purchase of Newmont Porcupine,
which includes the Dome Mine and some adjacent properties.
Dome Mine has been the largest gold producer in Canada and in North America.
Pelangio Exploration Inc's - Dome West property on the border to Dome Mine -
Discovery Silver (ceo Tony Makuch) is finalizing its purchase of Newmont Porcupine,
which includes the Dome Mine and some adjacent properties.
There is talk of rebooting Goldcorp's proposed Century Project, which involves
expanding the Dome open pit to mine beneath the Dome Mill, or underground mining -.
The most plausible location for a new mill would be Dome West property,
which is a .5 square km parcel 800 m from the Dome mill, and .5 km from
the Paymaster mine, which Discovery Silver will own 35%.
Pelangio owns Dome West. Tony Makuch is an advisor to the board of Pelangio.
Believe in coincidence?
$10,000 Gold Still On The Horizon Despite Volatility
March 01, 2025
$10,000 gold is still on the horizon despite volatility.
https://kingworldnews.com/10000-gold-still-on-the-horizon-despite-volatility/
Pelangio Exploration Inc. - Exhibitor Booth No 2237 -
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Booth No.2237
Exhibitor Type: Investors Exchange
Booth No. 2237
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IMO!
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Still for pennies bargain?....
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Trump LIVE: Trump on Missing Gold Reserves At Fort Knox; Elon Musk's DOGE to Inspect | CPAC
MIRROR NOW
1.45M subscribers
https://www.youtube.com/watch?v=wrXONpUOQVY
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Paul Craig Roberts – WHOSE GOLD, IF ANYONE’S, IS IN FT. KNOX
https://kingworldnews.com/paul-craig-roberts-whose-gold-if-anyones-is-in-ft-knox/
DiscoverGold
3日前
Gold Rebounds but Bearish Retracement May Resume Below $2,894
By: Bruce Powers | March 5, 2025
• After reclaiming the 20-Day MA, gold tested resistance at $2,930. A drop below $2,894 could confirm a continued bearish retracement.
Gold again tested resistance around the 78.6% retracement at $2,930 level on Wednesday with the day’s high of $2,930. The day’s high was slightly above Tuesday’s high of $2,928, and it followed a drop to support at $2,894 earlier in the trading session. Therefore, gold is set to complete the day with a higher daily high and higher low for the third day in a row. Also, the daily closing price may be at a high closing price for the bounce. Although these are short-term bullish indications, where they are occurring within the large pattern may have significance.
Bounce to Test Prior Support as Resistance
Following a new record high of $2,956 last week, gold pulled back below prior weekly lows and triggered a breakdown of a rising trendline and the 20-Day MA. Support was subsequently seen at a pullback low of $2,833 last Friday. The following rally was a three-day advance to Wednesday’s high of $2,930. However, the advance is likely a counter-trend rally to test previous support areas, unless there are clear additional bullish signs starting with a sustained advance above the record high of $2,956.
The 20-Day MA was tested as resistance yesterday and it failed as the line was reclaimed, reflecting short-term strength. Moreover, the close today is set to be above the 20-Day line. This is why multiple indicators are considered when analyzing a market.
Weakness Below $2,894 May Signal Bearish Reversal
The behavior of gold following last week’s breakdown is typical in the early stages of a bearish retracement. Key support levels are broken and eventually an upswing follows support, to some degree, to test prior support as resistance. Once that happens the decline may be ready to continue. An uptrend line and 20-Day MA previously marked dynamic support for the advance that followed an interim swing low in mid-December.
As noted above, resistance was not seen on a test of the 20-Day MA. However, it has been seen around resistance of the trendline. Certainly, gold could go a little higher and test the line. But if there is a drop below today’s low of $2,894 the counter-trend rally may be about to come to an end and a second leg down from the record high might have begun.
Next Lower Support Target Around $2,820
A declining ABCD pattern has been added to the chart assuming today’s high is a swing high. If it is not, the “C” point of the pattern would be adjusted accordingly. It points to an initial lower target at $2,820. That level is joined by the 38.2% Fibonacci retracement level at $2,813. Together, they provide additional evidence for a likely test of the $2,820 to $2,813 support zone if the bearish retracement continues.
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DiscoverGold
DiscoverGold
4日前
Gold Counter-Trend Rally Hits Key Resistance – What’s Next?
By: Bruce Powers | March 4, 2025
• Gold’s rally to $2,928 tested key resistance but remains corrective. A bearish breakdown suggests another decline is likely unless prices reclaim key trend levels.
Gold continued its counter-trend rally to a high of $2,928 on Tuesday, thereby completing a 78.6% retracement and a successful test of resistance around a rising trendline. There was a breakdown of both the trendline and 20-Day MA last week. This week’s advance is to test prior support areas as resistance. Once resistance is seen, the bearish may be ready to resume.
Just based on basis price structure, there has only been one leg down from the $2,956 record high hit last week. Given the accompanying bearish indications noted above, plus a weekly reversal candle from last week, it seems likely that there will be at least one more decline before the correction is over. One more leg down should be a minimum, given the price history for gold.
Test of Resistance May be Complete
Since today’s high was marked by two indicators, it might be the top for the counter-trend rally. It is also a five-day high. Short-term strength was seen in today’s advance as the 20-Day MA was reclaimed and the day’s session looks likely to close above the 20-Day line, which is at $2,903. Nonetheless, the larger bull trend breakdown pattern remains dominant.
Although gold could continue to rise and test higher dynamic resistance levels indicated by the trendline, unless there is a daily close above the trendline or a rally above the record high, it looks more likely to continue the bearish correction. However, that might not happen immediately.
Possible Inside Week This Week
Given last week’s relatively wide trading range, this week’s price range could complete the week contained within last week’s range. That would set up an inside week for next week. Therefore, in the daily time frame this week could see consolidation above last week’s low of $ 2,833 and below today’s high. Near-term support is at today’s low of $2,882 and yesterday’s low of $2,855.
50-Day Support is Key
The 50-Day MA, now at $2,781, is a key potential support level during a bearish correction. Notice that the line continues to rise and is close to converging with the prior trend high at $2,790. There has not yet been a test of support for the 50-Day line since it was reclaimed in early January. Therefore, it should indicate support if reached during the current bearish retracement.
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DiscoverGold
DiscoverGold
4日前
Gold in Countertrend Correction Phase
By: Jim Curry | March 2, 2025
With the action seen in recent weeks, Gold is in a confirmed downtrend with our 72-day cycle, a move which is anticipated to end up as countertrend - though it looks to have further to run. Stepping back, the bigger picture view for Gold is projected to remain bullish into the late-2025 to early-2026 window.
Gold, Short-Term
For the very short-term, the 10 and 20-day cycles are seen as heading lower for Gold, with the next smaller-degree trough expected to come from these waves - which are into bottoming range. Once this low is in place, we would expect to see a quick rally back to the 10 and 20-day moving averages:
Adding to the notes above, the next upward phase of the 10 and 20-day cycles could set up the right shoulder of a 'head & shoulder' pattern on the daily chart, before giving way to lower lows with our larger 72-day wave into the late-March to mid-April timeframe.
The 72-Day Cycle
As mentioned in my last article, the next peak of significance was due to materialize for Gold, coming from our bigger 72-day cycle, which is shown on the chart below:
The downward phase of this 72-day cycle was recently confirmed to be in force, and with that is seen as pushing south into the late-March to mid-April timeframe - as projected by the detrend that tracks this wave.
In terms of price, we noted in our Gold Wave Trader report that the ideal path was looking for a minimum drop back to the lower 72-day cycle band - which we came within earshot of hitting in Friday's session. Having said that, the more ideal path favors a drop back to the 72-day moving average or lower before this cycle bottoms, then to be on the lookout for its next trough to form.
In terms of patterns, the current correction phase of this 72-day cycle is favored to end up as countertrend, holding above its prior trough - which is the November, 2024 low of 2592.70 (April, 2025 contract). Once this wave bottoms out, its average rallies - when coming off a 'higher-low' - have been some 13-14%, thus giving us some idea of how its next upward phase could resolve.
The 310-Day Cycle
With the downward phase of our 72-day wave now in force, there is the potential for an extended peak to have formed with our bigger 310-day component, which is shown again on the chart below:
Supporting evidence for a potential extended 310-day cycle top in place is the recent divergence in our 310-day detrend indicator. If this cycle were to have peaked, then an eventual drop back to the 310-day moving average would be expected in the coming months.
Otherwise, the alternate path would favor a 72-day cycle low into the aforementioned late-March to early-April window, followed by a push back to new highs into May - before turning hard south again into mid-to-late June, where the 310-day detrend has readjusted its next projection for a bottom.
For the bigger picture, I still think the next mid-term buy for Gold will still come from a late-Spring, 2025 price trough. In terms of patterns, this correction is favored to end up as countertrend - either with the 72-day cycle, or the combination of 72 and 310-day cycles - before giving way to another sharp (13-20%) rally in the months to follow.
Gold Technical Signals
In terms of technical action, of key note comes from an indicator we track, called the Gold Timing Index, and which is shown on the following chart:
Of note is that, at the most recent new price high, our Gold Timing Index managed to form a decent divergence - a signal which has not been seen since the October, 2024 top for Gold. This is key, as a divergence between this indicator and price is a pattern normally seen near 72-day cycle (and/or 310-day) price peaks.
Going further with the above, a divergence between our Gold Timing Index and price can also appear at key lows, as it did last June - at the 72-day trough that formed there. This divergence is something that we will be watching closely in the coming weeks, should it develop, as it would be a strong signal that our next key bottom is forming. Stay tuned.
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DiscoverGold
DiscoverGold
6日前
Gold CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
By: Hedgopia | March 1, 2025
• Following futures positions of non-commercials are as of February 25, 2025.
Gold: Currently net long 261.6k, down 7k.
Gold bugs finally caught their breath. Gold dropped 3.6 percent this week to $2,848/ounce.
The metal had been rallying since it ticked $2,608 on December 30. Last week, it rallied 1.8 percent to $2,953/ounce; this was the eighth week in a row of positive weekly gains.
Concurrently, in five of eight sessions through last week, sellers showed up at $2,960s-70s. This continued in the first two sessions this week, with Monday tagging a fresh intraday all-time high of $2,974.
Ahead lies a crucial breakout retest at $2,800. After this, there is support at $2,750s, and $2,540s-50s and $2,440s-50s after that.
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DiscoverGold
NYBob
7日前
Government Regulations Is Choking Canada's Success [5000 GOLD] | Rob McEwen
https://www.youtube.com/watch?v=Trd1UGY5Sag
PELANGIO EXPLORATION INC.- OBUASI MINE - ANGLO - IS ONE OF THE
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IMO!
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MAGA NEWS - Venezuelan President Maduro tells President Trump to check with the FBI and DEA offices in Colombia
for proof that NWO Biden/Obama ordered the the Tren De Aragua gang be brought to the United States.
https://x.com/TaraLaRosa/status/1894966953321615715
Trump LIVE: Trump on Missing Gold Reserves At Fort Knox; Elon Musk's DOGE to Inspect | CPAC
MIRROR NOW
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Documentary: The Money Masters 'How International Bankers Gained Control of America'
Man in America
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Trump Signs Orders LIVE | 'I'd Like To Buy...': Trump Accepts Putin's Offer; US To Ditch Zelensky?
PEACE LONG OVERDUE -
TIMES NOW
6.16M
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Trump Responds To Movement In Canada To Become 51st State
Forbes Breaking News
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Just Now: No More Property Taxes Announced In Multiple States (Full Details )
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THE MORE MANIPULATION, THE HIGHER IT WILL FLY - ♥️ - CONFIRMED Trump Fort Knox Gold Audit - Federal Reserve NEXT?
https://www.youtube.com/watch?v=cLXNlPAZy6Q
GOLD IS SKYROCKETING! Fort Knox Audit Just Triggered A Panic Buying Spree - Schectman, Macleod,Pento
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XAU/USD Price Forecast Today, Technical Analysis (February 24): Gold Continues to Look Very Strong
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SILVER - XAG/USD Price Forecast Today, Technical Analysis (February 24): Silver Pulls Back to Test Support
FXEmpire
115K subscribers
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CONFIRMED Trump Fort Knox Gold Audit - Federal Reserve NEXT?
https://www.youtube.com/watch?v=Os5Dh6rVK9A
140K GOLD?!? What Will Happen if GOLD is REVALUED?
https://www.youtube.com/watch?v=n1dWCd0Ovnk
The US Treasury Just Got Caught Moving $800B In Gold, A Big Revaluation Happening | Andy Schectman
https://www.youtube.com/watch?v=PHXzthqZC2o
Dr. Jim Willie Claims: NESARA/ GESARA is REAL
https://rumble.com/v6od669-jim-willie-claims-nesara-gesara-is-real.html?e9s=src_v1_ucp
Aris Mining Corp
https://www.youtube.com/watch?v=I42eKeWeHeU
Most People Have No Idea What's About to Happen to Gold and Silver in March - Rafi Farber
https://www.youtube.com/watch?v=ynSJq4N8UiA
DOGE Forces US Bankruptcy Reset - Bill Holter
Greg Hunter's USAWatchdog.com
72.3K followers
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The US Government Just Ordered The Fed To Revalue Gold, Reigniting Gold Standard | Andy Schectman
Two Dollars Investing
https://www.youtube.com/watch?v=hfZjj9RkWs4
MAGA NEWS - BREAKING NEWS Trump Headed to Fort Knox for GOLD Audit?
https://www.youtube.com/watch?v=hbbDeSF3H5M
🚨 Trump Announces Audit of $400 Billion in Gold Held at Fort Knox, Elon Musk Wants to Livestream
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Bombshell Report Out of Canada - Why Trump is Hitting Canada Hard with Tariffs
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US Gold Reserve Secretly Wiped Out? Elon Musk Sparks Panic With Fort Knox Rumours | Trump | DOGE
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You Won't Believe What Elon Just Discovered About The Missing Money Seconds Ago
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A Message to America...Time to get RID OF THE FED & CIA
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DEALER WARNS AMERICA OF A DISASTER IF GOLD IS REVALUED TO ELIMINATE U.S. DEBT!
WATCH ON UTUBE -
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Huge Moves in Gold Worldwide, Mar-A-Lago Accord, Ron Paul Fed Audit & more w- Andy Schectman
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Gold Standard 2.0? The ECONOMIC EARTHQUAKE That Will Change EVERYTHING!
Man in America
135K followers
https://rumble.com/v6k2pad-gold-standard-2.0-the-economic-earthquake-that-will-change-everything.html?e9s=src_v1_ep
Central Bank Purchases: The People’s Bank of China (PBOC) resumed its gold purchases in November after a six-month
pause, adding more in January. This move is seen as an effort to diversify reserves and potentially support the renminbi.
Despite the challenges faced by Chinese consumers, the global gold market remains robust, with prices continuing to climb
towards the $3,000 per ounce mark. The ongoing rally underscores gold’s enduring appeal as a store of value and hedge
against economic uncertainties.
https://i.ytimg.com/an_webp/G3oSNdFccvs/mqdefault_6s.webp?du=3000&sqp=CK663b0G&rs=AOn4CLC34SXKnAY6NWii1789czKX_D4j-w
XAU/USD Price Forecast Today, Technical Analysis (February 19): Gold Buyers Defend Support
FXEmpire
114K subscribers
https://www.youtube.com/watch?v=LCpMj7eTvsY
Elon Musk Wants Ron Paul To AUDIT THE FED For DOGE!-Robby Soave ♥️😇
The Hill
2.06M subscribers ♥️😇
https://www.youtube.com/watch?v=stiLvLui6Ag
Here's why Trump wants to start stockpiling U.S. wealth | About That ♥️
CBC News
3.92M subscribers
Alert: The System Just Broke! 3000 Gold! Trump Says "Hell Will Break Loose"
https://rumble.com/v6jfsl7-alert-the-system-just-broke-3000-gold-trump-says-hell-will-break-loose.html?e9s=src_v1_ucp
WOULD YOU SELL CANADA FOR $550,000? 🤯💰
That’s what every single Canadian would get if the U.S. purchased Canada.
Family of 4 RECEIVE=$2.2M
Plus:
🇺🇸 Lower taxes
🇺🇸 Military Might
🇺🇸 Massive economy
🇺🇸 No more Trudeau
https://x.com/MarcNixon24/status/1888662256289980894
XAG/USD Price Forecast Today, Technical Analysis (February 19): Silver Plunges Overnight
FXEmpire
114K subscribers
https://www.youtube.com/watch?v=xdEjBHGCf9o
On Track to 450K Oz Gold @ $2800 Market: The Ultimate Growth Story | Oliver Dachsel - $Aris Mining
The Deep Dive
32.5K subscribers
https://www.youtube.com/watch?v=I42eKeWeHeU
$1M GOLD NOT FIAT Bitcoin in 2025? | Trump's Plan to End the Fed Revealed!
I think we are certainly getting near that collapse the way that currencies are going down
and debt is going up and the way that GOLD is reflecting that.
https://rumble.com/v6feblj-1m-bitcoin-in-2025-trumps-plan-to-end-the-fed-revealed.html?e9s=src_v1_e
The System of Money | Inside the Financial Machine | Understanding the Matrix
Moconomy
1.13M subscribers
https://www.youtube.com/watch?v=EVp5Q8_Ydm4
10,000/oz Silver if Mr. TRUMP Drains the "Silver Swamp!"? ♥️
$Patagonia Gold Corp, formerly known as Hunt Mining Corp., is a mineral exploration and production company
($PGDC : TSXV) / ($HGLD : USOTC)
The Company’s activities include the exploration and production of minerals from properties in Argentina and Chile.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175652433
WATCH "Trump’s Bold Move: The END of Silver Price Manipulation? Gold & Silver Market Shock 2025!"
Silver & Gold
618 subscribers
https://www.youtube.com/watch?v=REkbFA7HRI4
DiscoverGold
7日前
NY Gold Futures »» Weekly Summary Analysis
By: Marty Armstrong | March 1, 2025
NY Gold Futures closed today at 28485 and is trading up about 7.85% for the year from last year's settlement of 26410. Caution is required for this market is starting to suggest it may now decline on the MONTHLY level. Up to this moment in time, this market has been rising for 2 months going into March reflecting that this has been only still, a bullish reactionary trend.
ECONOMIC CONFIDENCE MODEL CORRELATION
Here in NY Gold Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2022 and 2015. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2020 and 2011 and 1996.
MARKET OVERVIEW
NEAR-TERM OUTLOOK
The NY Gold Futures has continued to make new historical highs over the course of the rally from 2015 moving into 2025. However, this last portion of the rally has taken place over 10 years from the last important low formed during 2015. Prominently, we have elected four Bullish Reversals to date.
This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.
Focusing on our perspective using the indicating ranges on the Daily level in the NY Gold Futures, this market remains moderately bearish position at this time with the overhead resistance beginning at 28970 and support forming below at 27671. The market is trading closer to the resistance level at this time.
On the weekly level, the last important high was established the week of February 24th at 29740, which was up 15 weeks from the low made back during the week of November 11th. So far, this week is trading within last week's range of 29740 to 28441. Nevertheless, the market is still trading downward more toward support than resistance. A closing beneath last week's low would be a technical signal for a correction to retest support.
When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 29740 made 0 week ago. Still, this market is within our trading envelope which spans between 25890 and 29394. This market has made a new historical high this past week reaching 29740. Here the market is trading weak gravitating more toward support than resistance. We have technical support lying at 28580 which we are currently trading below implying the market is very weak. This infers that this level will now be resistance. Our Major Channel Support lies at 27035 and a break of that level would be a bearish indication for this market.
Right now, the market is neutral on our weekly Momentum Models warning we have overhead resistance forming and support in the general vacinity of 28022. Additional support is to be found at 27156. Looking at this from a wider perspective, this market has been trading up for the past 10 weeks overall.
INTERMEDIATE-TERM OUTLOOK
YEARLY MOMENTUM MODEL INDICATOR
Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.
Interestingly, the NY Gold Futures has been in a bullish phase for the past 16 months since the low established back in October 2023.
Critical support still underlies this market at 25400 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Immediately, the market is trading within last month's trading range in a neutral position.
DiscoverGold
DiscoverGold
1週前
Gold Drops to $2,833, Confirming Bearish Reversal Signals
By: Bruce Powers | February 28, 2025
• A weekly breakdown below $2,853 signals further bearish pressure, with gold eyeing key support at $2,813, $2,769, and a potential monthly breakdown.
Gold continued its bearish retracement on Friday with a drop to a new low of $2,833. At the time of this the decline triggered another weekly breakdown below the three-week low of $2,853 and further confirmed the transition to a bearish retracement. If the week ends with gold below that weekly low, another bearish signal will be confirmed.
Nonetheless, gold will complete a reversal week with a close likely near the lows of the week and below last week’s low of $2,878, if not the three-week low. In summary, this week’s price action shows increasing selling pressure and a greater chance of testing lower support levels before the correction is complete.
Selling Pressure Intensifies
Although the next lower target is the 38.2% Fibonacci retracement at $2,813 the decisiveness of the bears will likely lead to a test of lower price. The prior trend high of $2,790 is an obvious target but if selling pressure is retained that price level may be broken. Lower price levels are identified by at least two indicators as possible support zone.
The first is the 50-Day MA at $2,769, which has converged with the 50% retracement, also at $2,769. Since the next lower uptrend line is rising toward the 50% retracement zone, by the time gold approaches that potential support zone, the trendline may also need to be considered. This is assuming there is not a failure of the trendline to remain support.
Monthly Bearish Shooting Star for February
The longer time frame pattern is a concern given that the month of February ends today. Gold is set to complete the month with a potentially bearish shooting star candlestick pattern. However, it is not bearish until a breakdown triggers thereby confirming the pattern. Nonetheless, it shows the month ending in a relatively weak position relative to the month’s trading range.
The low for the month is $2,772, near where the 50-Day line is now. This will leave gold in a precarious position where a monthly breakdown could be triggered. Nonetheless, follow-through will be key. If the monthly bearish shooting start triggers to the downside, it opens the possibility of an eventual test of prior monthly resistance at $2,726 from December.
20-Day MA Marks Key Potential Resistance
Interim rallies can be watched for signs of resistance that may develop into bearish intraday reversal patterns. The 20-Day MA is an obvious line to be tested as resistance and it is now at $2,896. It can be combined with Tuesday low of $2,888 for a potential resistance zone.
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DiscoverGold
1週前
Americans Buying Gold
By: Adam Hamilton | February 28, 2025
American stock investors have suddenly started buying gold again. After largely ignoring most of gold’s monster upleg, they just started flocking back fueling big builds in major-gold-ETF holdings. If this stunning shift proves a persistent trend, these capital inflows will drive gold much higher. American stock investors remain radically underinvested in gold, commanding vast pools of capital they can deploy to chase it.
Normally I don’t write about major-gold-ETF capital flows very often, maybe a few times a year. But just two weeks ago, I published an essay “Americans to Chase Gold”. It analyzed the incredible anomaly of gold soaring in an extraordinary monster upleg with virtually no differential gold-ETF-share buying! I led off with “American stock investors’ overdue return is the single-most-bullish argument for gold today.”
It concluded “American stock investors will almost certainly yet chase gold’s extraordinary monster upleg.” While that seemed inevitable, the timing of market normalizations is unpredictable. So I didn’t expect to expand this research thread again for a few months, and had an entirely-different essay planned. Then out of the blue in this past week or so, gold-ETF capital inflows exploded to their highest levels in years!
Some context helps illuminate this major development. The world’s dominant gold ETFs are GLD SPDR Gold Shares and IAU iShares Gold Trust. They pioneered these effective conduits enabling stock-market capital to easily migrate into and out of physical gold bullion, launching way back in November 2004 and January 2005. The World Gold Council tracks all the world’s physically-backed gold ETFs every quarter.
Exiting Q4, GLD and IAU together represented fully 39.3% of all the gold bullion held by all the world’s physically-backed gold ETFs! A UK one was a distant-third at just 6.2%. During plenty of quarters, the holdings swings in GLD and IAU alone account for a large majority of overall total world gold-demand moves. All that has made GLD+IAU capital flows one of gold’s primary drivers for about a decade-and-a-half.
Gold uplegs reach monster status once they achieve 40%+ gains with no interrupting 10% corrections. And gold uplegs simply didn’t grow that large in this modern gold-ETF era without being fueled by big GLD+IAU-holdings builds. Without American stock-market capital flowing in, there just wasn’t sufficient persistent buying to fuel huge uplegs. Understanding the simple mechanics behind gold ETFs explains why.
Physically-backed ones essentially act like conduits for the vast pools of stock-market capital to slosh into and out of gold. GLD and IAU shares have their own supplies and demands independent from gold’s own. So if they are being bought or sold at rates different than gold’s, their share prices will decouple from its and fail their tracking mission. Gold ETFs require constant active management to equalize any differentials.
When American stock investors buy GLD+IAU shares faster than gold, their share prices soon threaten to disconnect to the upside. To prevent this, managers issue sufficient new shares to offset that excess demand. The resulting cash proceeds are then immediately plowed into buying more physical gold bullion. So rising GLD+IAU holdings reveal American stock-market capital flowing into gold, bidding up its global price.
Monster gold uplegs are quite rare, and before today’s the last two both crested in 2020. The first peaked in early March at 42.7% gains over 18.8 months. That was mostly fueled by GLD+IAU holdings soaring 30.4% or 314.2 metric tons on massive differential gold-ETF-share buying! Then the pandemic-lockdown stock panic erupted, briefly sucking in gold. That epic fear forced a 12.1% correction in just eight trading days.
Corrections reset uplegs, so gold’s next one soon started soaring in that panic’s wake. Over the next 4.6 months into early August, gold rocketed up 40.0%. American stock investors overwhelmingly drove that, with GLD+IAU holdings blasting up 35.3% or 460.5t! Average these last two monsters, and gold soared 41.4% on 32.9% or 387.4t GLD+IAU-holdings builds. Gold uplegs could no longer grow huge without them.
Love or hate GLD and IAU, they are frictionless gold vehicles for stock investors. Though they do have small annual percent-of-assets management fees of 0.40% and 0.25%, their shares are easy, quick, and cheap to buy. That gives instant portfolio exposure to gold price moves. Before gold ETFs, investors had to sell stocks, transfer cash, buy gold coins in stores or online for 5%+ commissions, then securely store them.
Later selling was similarly-involved, with dealers buying coins back around 2% discounts. So a two-way gold “trade” cost investors a 7%-to-10% spread in addition to being cumbersome! It is also a hassle to find time to visit a coin shop or post office to pay for insured shipping. So with gold-ETF shares effortless and almost free to trade, it’s easy to understand why GLD and IAU grew so popular with American stock investors.
Yet just a couple weeks ago, one of gold’s mightiest uplegs ever was blasting higher with no meaningful differential GLD+IAU-share buying. As of February 13th, gold had powered an incredible 60.9% higher in 16.3 months without any 10%+ corrections. Yet shockingly GLD+IAU holdings had slumped 1.6% or 20.0t in this span! That’s an extreme disconnect, a shocking anomaly unprecedented in this gold-ETF era.
This updated chart shows the crazy lack of differential GLD+IAU-share buying as gold soared. My last essay on this a couple weeks ago explained why. Enthralled by the AI stock bubble, American stock investors felt little need to diversify their mega-cap-tech-dominated portfolios. So central banks, Chinese investors, and Indian jewelry buyers took the gold-buying baton to fuel gold’s latest monster upleg.
Even as gold started breaking out to new nominal record closes a year ago, American stock investors didn’t care. They were too busy piling into NVIDIA on hopes of hundreds of billions of dollars of spending on AI infrastructure. On March 8th, 2024 as gold achieved a six-trading-day record streak, unbelievably GLD+IAU holdings slumped to a crazy 4.5-year secular low of 1,203.3t! Then they ground along there for months.
Capital inflows into gold-ETF shares finally started to resume as gold surged to more records last autumn leading into the elections. But since GLD+IAU holdings were digging out of such a deep hole, they were still flat through gold’s newly-monster upleg. In late October they crested at 1,273.5t, still a bit under their 1,277.9t in early October 2023 when this gold upleg was born. By late January 2025, they fell back to 1,248.9t.
While gold’s bull run was awesome largely thanks to very-strong central-bank demand, it sure felt like American stock investors would never return. But they had to sooner or later, probably after that AI stock bubble inevitably burst. They love chasing winners, piling in to ride established upside momentum. And it was only a matter of time until either record-achieving gold prices or slumping mega-cap techs brought them back...
* * *
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DiscoverGold
1週前
Trump, Tariffs, and the Transatlantic Gold Rush
By: Markets & Mayhem | February 28, 2025
The gold market, long revered for its stability, has recently found itself in an unusual state of flux. The culprit? A widening price disparity between New York and London, an anomaly that has sent shockwaves through the bullion trade and turned normally sedate gold traders into transatlantic logistics experts. What began as a few dollars’ difference per ounce escalated into a $20-$50 price gap, creating an arbitrage opportunity too lucrative to ignore. Since November, hundreds of tonnes of gold have made the voyage across the Atlantic, shifting the balance of one of the world’s oldest financial markets.
To understand the scale of this phenomenon, imagine a scenario where New York’s stock market suddenly priced Apple shares $20 higher than London’s exchange. Traders, sensing an easy profit, would immediately snap up shares in London and sell them in New York, repeating the process until prices equilibrated. Gold operates on a similar principle. Typically, the price gap between London spot and New York futures is a negligible few dollars. But in late 2024, as markets absorbed Trump’s tariff rhetoric and growing U.S. economic nationalism, this gap exploded, creating a classic arbitrage play: buy gold in London, ship it to New York, and cash in on the higher price.
At first, the shift was subtle. November saw only a modest 62-tonne outflow from London’s vaults, a blip in the vast gold market. But by December, as the price divergence persisted, traders ramped up shipments, moving another 29 tonnes. Then came January—the watershed moment. In a single month, 151 tonnes of gold were withdrawn from London’s vaults, the largest monthly outflow on record. The trend continued into February, with another 43 tonnes scheduled for shipment by JPMorgan alone. In total, at least 285 tonnes of gold—worth over $25 billion at current prices—have made the journey since October.
This trade, however, was not without complications. The mechanics of shifting hundreds of tonnes of gold across the Atlantic involve a logistical ballet rivaling any high-stakes financial operation. Unlike stocks, which move at the speed of electrons, gold is a stubbornly physical commodity. It must be withdrawn from high-security vaults in London, transported under armed guard to airports, flown to the U.S. in specially secured cargo holds, and then delivered to COMEX-approved storage facilities in New York. Each step involves costs—transport, security, insurance—all of which nibble away at the profit margin. But with the price gap holding steady above $20 per ounce, traders calculated that the gains outweighed the headaches.
Further complicating matters is the difference in bar sizes. London’s gold market operates primarily with 400-ounce “Good Delivery” bars, the gold standard (literally) for international trade. But New York’s COMEX futures contracts require delivery in 100-ounce bars or kilo bars. This mismatch meant that much of the gold arriving from London had to be melted down and recast before it could be delivered into futures contracts. Swiss refiners, already operating near capacity due to central bank demand, suddenly found themselves inundated with orders for recasting. This added another layer of complexity and cost to an already intricate trade.
Why, then, did this price gap emerge in the first place? The simplest explanation is tariffs—or rather, the mere specter of them. President Trump’s rhetoric about sweeping tariffs on foreign goods, including raw materials, injected uncertainty into global markets. While gold itself was unlikely to be directly targeted, traders feared disruptions in trade flows and supply chains, leading to a rush for U.S.-based gold. Safe-haven demand, already heightened by inflationary concerns and geopolitical instability, compounded the issue. Investors preferred to hold gold in New York rather than London, bidding up U.S. futures prices while leaving London’s spot market comparatively subdued.
As gold streamed out of London, the secondary effects rippled through the market. Lease rates for gold—essentially the cost to borrow bullion—spiked to multi-decade highs as available supply dwindled. Traders seeking to roll over short positions found themselves paying a hefty premium to source gold. Meanwhile, COMEX inventories swelled, reaching their highest levels since 2022. By late January, COMEX-registered gold stocks had doubled in just a few months, reflecting the influx of metal from abroad.
The arbitrage play was straightforward but required deep pockets. To execute the trade, a bank or trading house had to front the capital to acquire physical gold, arrange transport, navigate the recasting process, and manage the timing risk inherent in moving a commodity that doesn’t teleport. Hedging was essential—any shift in the price spread during transit could erode or eliminate profits. The financing costs alone limited participation to the most well-capitalized players, with JPMorgan, HSBC, and a handful of other global banks leading the charge.
Now, as February unfolds, signs are emerging that the arbitrage window is beginning to close. With so much gold having already moved, the supply imbalance is correcting. The price spread, while still elevated compared to historical norms, is narrowing. Some traders are finding that by the time their gold reaches New York, the profit margin has diminished. Others, wary of tying up capital in an increasingly crowded trade, are stepping back. Market forces, as they always do, are restoring equilibrium.
Still, the episode raises broader questions about the modern gold market. The fact that such a significant price divergence persisted for months underscores the challenges of moving physical commodities in a world dominated by electronic trading. It also highlights the outsized role of policy uncertainty in shaping financial markets. The mere threat of tariffs was enough to trigger a massive reallocation of one of the world’s oldest and most stable assets. If gold, the ultimate safe-haven commodity, is this sensitive to political maneuvering, what does that suggest about the stability of other asset classes?
In the end, the transatlantic gold migration of 2024–25 will likely be remembered as a rare and lucrative moment for those who seized the opportunity. For the traders who successfully navigated the maze of logistics, financing, and market timing, the rewards were substantial. For the broader financial world, it serves as a reminder that even in the age of algorithmic trading and instant market access, some opportunities still require an old-fashioned approach: buying low, shipping carefully, and selling high.
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DiscoverGold
1週前
Gold Bearish Reversal Triggered as Sellers Take Control
By: Bruce Powers | February 27, 2025
• Gold broke below key support at $2,893, signaling bearish momentum. Further downside targets include $2,813 and $2,764, while resistance looms at $2,892 and $2,888.
Gold triggered a bearish reversal on Thursday as it fell through the 20-Day MA at $2,893 and a prior weekly low at $2,853. This is the first lower weekly low in eight weeks and when combined with the moving average breakdown shows sellers in control.
A reversal week is indicated if this week ends with gold below last week’s low of $2,878. The low for the day was $2,868 and gold continues to trade near the lows of the day, at the time of this writing. It looks likely to end today’s session in a bearish position, below the 20-Day MA and in the lower third of the day’s trading range.
Next Lower Target is $2,813
The next downside target is the three-week low at $2,813. However, given today’s bearish momentum and decline below key price levels, it looks likely that the three-week low will also fail as support. Further down is the minimum anticipated 38.2% Fibonacci retracement at $2,813, which may show signs of support.
Nevertheless, once one key moving average is broken the next higher moving average becomes a potential target. Therefore, the 50-Day MA is a maximum lower target for the correction. It is currently at $2,764 and rising, therefore close to converging with the 50% retracement level at $2,769.
Lower Potential Targets
A long-term bull trend continuation signal was generated in late-January on a breakout above the prior trend high at $2,790. That price level was resistance for the uptrend for approximately 13 weeks before it was surpassed. Therefore, it could easily be tested as support during a bearish retracement. Furthermore, since the 50-Day line is rising, it could converge with the former $2,790 high before it is reached.
Or certainly be in the vicinity of that price level. Nonetheless, it can also be considered the top of a potential support range going down to the 50% retracement at $2,769. This is assuming that the 50-Day line matches or exceeds the 50% retracement in the coming days or weeks.
Signs of Strength to Face Downward Pressure
Rallies will likely be used by investors to exit long positions and enter shorts. The 20-Day MA at $2,892 is an obvious potential resistance along with the lows of the previous couple of days at $2,888. Finally, since the month of February ends tomorrow, gold is at risk of ending the month in a relatively weak position in the lower half of the month’s trading range.
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DiscoverGold
1週前
Gold Continues to Look Rangebound
By: Christopher Lewis | February 27, 2025
• The gold market fell hard in the early hours of Thursday, as the markets continued to look very rangebound overall. At this point, gold continue to look very much a “buy on the dip” scenario.
Gold Markets Technical Analysis
Gold markets have fallen a bit during the trading session early Thursday morning, but we are approaching an area that is in fact supported as we have seen over the last couple of weeks. So I do think it’s very likely that we could see a bit of interest in gold here. Whether or not we can bounce enough to break back above the $2,900 level is the question. And if we do, then I think we just go back towards the top of the range near $2,950 or so. Anything above opens up the possibility of a move to the $3,000 level.
That being said, if we were to break down below the $2,870 level, then we might have a little bit of a deeper correction, perhaps down to the 50-day EMA and the $2,800 level. This, of course, is an area that is a large, round, psychologically significant figure, and a lot of people would be paying close attention to it. The 50-day EMA being there, of course, lends more credence, but it’s also worth noting that it was a major swing in late October of last year, and therefore I think a lot of people will be paying attention to that region, perhaps trying to pick up cheap ounces.
All things being equal, this is a market that I do like still, and I do think that there are plenty of global shocks out there that could come into the picture that people will be watching. Ultimately, this market is one that does tend to be very noisy. But we are very much in an uptrend, and that is going to continue to be the way going forward. So, with that, I think dips continue to offer buying opportunities.
Read Full Story »»»
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DiscoverGold
1週前
Gold Struggles Near Highs, Testing Critical Support Levels
By: Bruce Powers | February 26, 2025
• Gold’s bullish trend faces pressure as support at $2,888 is tested. A break lower could lead to further declines toward the 50-Day MA.
Gold dropped to a low of $2,891 on Wednesday and thereby successfully tested support around the 20-Day MA, which is at $2,888 currently. An intraday bounce followed, and gold is back trading around the opening price, at the time of this writing. Nevertheless, bullish momentum has declined as gold consolidated near highs over the past couple of weeks. It is at risk of breaking below key trend support represented by the 20-Day MA, as well as an internal uptrend line. But the 20-Day line provides the more significant dynamic support levels.
Trend Support at Risk
Monday’s new record high of $2,956 completed a $373 or 14.5% advance when measured from the December swing low at $2,582. Notice that the angle of ascent of the trend steepened following that low and the subsequent reclaim of the 20-Day and 50-Day MAs. An upside breakout of a short resistance trendline also helped improve demand further. As the trend continued to rise following the December low, the rate of change in the price of gold increased. This dynamic can also be seen by the widening of the spread between the 20-Day MA and 50-Day MA.
Bearish Potential
The accelerated advance is contained within a rising trend channel that shows the underlying angle of ascent for the larger bull trend pattern. Therefore, a decisive trend reversal signal could eventually see a test of support around the 50-Day MA or the lower trendline. Notably, there is a bearish divergence in the relative strength indicator (RSI) and it is trending down following some time in overbought territory.
If 20-Day MA Fails, the 50-Day MA Becomes a Target
Following the reclaim of the two moving averages, there has not yet been a pullback to test those lines as support until today when the 20-Day MA was tested. If the 20-Day line fails to hold, the 50-Day line becomes a potential target. This doesn’t mean that it will be achieved, but it certainly could be.
Other price levels that could see support include the prior trend high at $2,790 and a lower previous resistance zone starting around $2,726. However, if it is reached it shows a failure of support from both the 50-Day MA and the uptrend line. That would be bearish and open the possibility of testing the lower trend indicators represented by the 200-Day MA at $2,579 and an uptrend line.
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DiscoverGold
2週前
Gold Pulls Back After Failed Breakout
By: Bruce Powers | February 25, 2025
• After an unsuccessful breakout, gold is testing key support levels. A deeper correction could follow if $2,853 breaks, with downside targets at $2,790 and $2,754.
Gold has failed to follow through on a bull breakout of a pennant pattern triggered last week. On Tuesday, it fell sharply to a six-day low of $2,888 thereby triggering a breakdown of the pennant as the lower boundary line was broken. Support for the day was subsequently seen around a rising trendline. Gold looks set to end the day in a bearish position in the lower third of the day’s trading range. Since a failure of the bull breakout just occurred, it seems likely that potential support levels will be further tested before buyers take back control again.
20-Day MA is Key Trend Support
Key dynamic trend support is established by the 20-Day MA, currently at $2,880. The uptrend line provides a guide, but the 20-Day line deserves greater respect as the trendline could be broken while support of the 20-Day line is retained. Therefore, the 20-Day line along with previous price levels may help determine the potential scope of a pullback.
Last week’s low at $2,878 and the three-week low at $2,853 are weekly support levels to be aware of. The weekly pattern shows eight consecutive weeks of higher weekly highs and higher lows, including this week. However, this week is not over and if last week’s low fails to hold as support, the bullish weekly pattern will start to change. That could lead to a deeper correction or further consolidation.
Bearish RSI Divergence
There is a bearish divergence showing in the relative strength index (RSI) and a decline below a minor swing low on the RSI line just triggered. This would seem to be supportive of deeper or longer correction. Certainly, it shows a weakening of demand. Nonetheless, the reaction around key price levels will help provide a roadmap.
If the three-week low at $2,853 is broken, lower prices become more likely. A test of support at the prior trend high of $2,790 from October is an obvious potential downside target. It is followed by the 50-Day MA, around $2,754 currently. There is also an uptrend line slightly below the 50-Day line currently. It should also provide guidance if approached.
Strong Recent Performance
From the interim swing low of $2,582 in December, gold advanced by as much as $374 or 14.5% in 45 trading days, as of Monday’s new trend high of $2,956. That is a solid performance but also an indication some degree of rest is needed before gold it read to trend higher again.
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