Gold Price Today & Gold Market Outlook

Gold Price Today & Gold Market Outlook

If pleasures are greatest in anticipation, just remember that this is also true of trouble.

Elbert Hubbard

Gold Price Today: That’s Irrelevant

These are the comments we made in 2016 and until 2019, we did not look into the Gold market closely because there were many other places to invest in.  Along the way, we nibbled at gold a bit, because we banked massive gains in 2011 when we closed 9o% of our positions in the precious metals sector.

Many experts penned numerous articles this year proclaiming that the Gold market was ready to take off and that 2016 would be the year that the Gold bull resumed its upward trend.  They spoke of our high debt, a weak economy and listed a plethora of reasons as to why Gold was ready to soar.  Needlessly to say, their fear-mongering proved to be fruitless for instead of taking off, Gold nosedived.  Early in the year,  we stated that we did not expect much from Gold this year; we wrote several articles but will highlight points from one of them as it adequately sums our overall theme for 2016

 From Feb to March of 2016, Gold responded in the correct manner, as the dollar traded lower, it traded higher. After that, the situation changed, and Gold has been putting lower highs while the dollar has traded to new lows. This indicates that one market is out of sync, and this market is Gold. Thus, the dollar is likely to bottom and rally again, while the rally in Gold is likely to fizzle out.

This initial strength in Gold is the perfect set up to knock the early bulls out; we would not be surprised if Gold experiences one final move down to the $1000 ranges, before putting in a multi-year bottom. We are not ready to jump on the Gold bandwagon yet and have maintained this position since we bailed out in 2011. The trend would need to turn positive before we turn bullish on gold and so far the trend based on our trend indicator is neutral. Tactical Investor

What’s The Gold Price Today Is A Silly Question

The idea should be to focus on the Golds long term price trend and not on its current price.  Gold price today or tomorrow is an irrelevant and stupid concept for it will only increase one’s stress. There is no way to accurately predict the day to day price movements of Gold.

 

As shown in the above image, the price of Gold has been trending upwards; albeit slowly but surely. Before we continue we would like to state that AI will make for a far better investment than gold over the next five years. having said that,  one should place a small percentage of one’s cash into gold to guard against black swan type events and as a form of general insurance.

We expect Gold to trade to the 1800 to 1870 ranges with a possible overshoot to as high as 2100.  If Gold can close above 1650 on a monthly basis, then the odds are above 75% that it will at the very least trade above 1800.  Silver is expected to start running up after Gold get’s close to its old highs. Until then we expect silver to underperform; hence traders can use this period to accumulate positions in silver bullion.

Gold stocks to consider

In the larger cap sector, we would consider FNV and GOLD

FNV Franco-Nevada Corporation daily Stock Chart

Any price in the 95 to 105  ranges would be considered attractive and any below  84 would be considered as great.

 

GOLD Barrick Gold Corporation daily Stock Chart

A price below 18.00 would be considered as a good entry point and any price below 15 would be considered as an excellent entry point.

One should use strong pullbacks to add to one’s position in both Franco Nevada and Barrick Gold.

 

Two Smaller Cap Gold Stocks

KGC Kinross Gold Corporation daily Stock Chart

Entry points that fall in the 4.80 to 51.10 ranges would be considered as good entry points and anything that falls below 4.20 would be considered as excellent.

AUY Yamana Gold Inc. daily Stock Chart

Good Entry points would fall in the 3.45 to 3.60 ranges and excellent entry points would fall in the 2.80 to 3.00 ranges.  Once Gold bullion trades to 1800, investors should consider taking some money off the table. Pay attention to the Gold bugs, if they are euphoric than a top is close at hand and one would be wise to bank 90% of one’s gains.

Random thoughts on Gold, Stock Market and Human behaviour

To date institutions and individuals have poured billions upon billions of dollars into money market funds. The apparent culprits were; Interest rates, the trade war, government shutdown, Trump investigations and whatever other rubbish you can come up with. Money market assets surged to $3 trillion this January, the highest level since March of 2010, clearly indicating that the masses as always know nothing and jump into the wrong investment at precisely the right time.  Pay close attention to the masses for the data they willingly provide is worth its weight in Gold. Sadly, the masses volunteer for the role of being used as “cannon fodder” over and over again. Try to save them, and they are likely to crucify you to the nearest pole they can find. Watch or read Plato’s allegory of the cave to understand why the masses will never reward anyone that tries to open their eyes.

Big egos are big shields for lots of space.

Diana Black

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