Gold Spot Price History: Will Gold Continue Trending Upwards

Gold Spot Price History: Is Gold Going To Continue Trending Upwards

Gold Spot Price History: Is The Trend Still Strong

Take a chance! All life is a chance. The man who goes the furthest is generally
the one who is willing to do and dare. The “sure thing” boat never gets far from shore.
Dale Carnegie
1888-1955, American Author, Trainer

Updated April 2023

The 450 zones provided an incredible amount of resistance, and now that it has been overcome, the long-term picture looks rather interesting for gold. Usually, a break out such as this results in a test of the resistance zone; however, due to the current geopolitical situation, this might not occur. However, if the current geopolitical situation had to change even temporarily, Gold would most likely pull back very fast to test the 450 range; gold would then become a screaming buy. Please don’t sit there holding your breath for the above situation to unfold; should Gold drop to this level, look at it as a huge free bonus and load up.

Engaging Read: Technical Analysis Of Stocks And Commodities

img

Gold Spot Price History and New Targets

Please do not let these targets activate the greed demon within; running out there and dumping all your money into gold is not wise. No matter how good the investment looks, one should never put all their eggs in one basket. History so eloquently illustrates that those who fail to observe this simple rule usually have empty pockets. Remember that these are very long-term targets; hence do not expect them to be hit overnight.

Next zone Major of resistance is 720 (there are other zones in between, but we are looking at the long-term picture right now); a break past this should take gold to the 830-870 ranges.

2nd target will be a test of the old highs followed by a pretty rapid pullback and some sideways action; Gold will then be ready to test the 1200 zone.

The Extreme target, for now,  is 1800 dollars.

General Themes Surrounding the Gold and Precious Metals Markets

While Gold is not at the ideal entry point, such points do not occur often; one such time was during the 2002- early 2003 period. In light of this, it would make sense to start nibbling at Gold now for those with no positions intending to add to these positions if Gold should correct further. Another major reason we are actually advocating the purchase of bullion after being neutral on it for so long (we were pounding the table on Gold from 2002-2003) is that it has entered the minimum oversold ranges of several of our indicators.

Last year Palladium looked more interesting than gold, and that’s where we advised our subscribers to invest their money; it turned out to be the best-performing precious metal in that time frame. We simply let our indicators examine the entire commodity sector and look for the best risk to reward investment. One must remember that it is a commodities bull, not just a precious metal bull. From Late 2003- to 2005, oil (black gold) was the best place to invest.

Remember that as each target is hit, there will be some rather hard and rapid corrections; the ride-up will not be one sweet journey. If it were, everyone would sell everything they have and buy Precious Metals. Nothing good ever comes easy; if it does, it’s usually not worth it. Our next article will look at Silver the poor men’s gold.

It is easy to be brave when far away from danger.
Aesop
620-560 BC, Greek Fabulist

Originally written in Aug 28, 2006, this piece has been regularly updated over the years, with the most recent update occurring in April 2023

Other Articles of Interest

How To Get Financial Freedom

How To Get Financial Freedom: Escape the Herd for Lasting Success

Feb 27, 2024 How To Get Financial Freedom: Diverging from the Masses for Prosperity Achieving financial freedom often requires a ...
food poisoning is legal in the USA

Legalized Food Poisoning: America’s Toxic Diet by Design

Editor: Draco Copper | Tactical Investor America's Hidden Epidemic: The Legalized Food Poisoning Crisis Updated Feb 24, 2024 In the ...
"""investing for dummies""": follow the trend or bend

“””Investing for dummies”””: Follow The Trend

"""Investing for dummies""": Novel Trend Following Techniques Updated Feb 23, 2024 Regarding """Investing for dummies""", following the trend can be ...
Executive Compensation: Navigating Integrity Over Greed

Executive Compensation Driving Share Buybacks

Editor: Vladimir Bajic | Tactical Investor Executive Compensation & Greed: Navigating the Abyss of Wealth Disparities Updated Feb  18, 2024 ...
Negative Interest Rates Help Foster Economic Recovery Illusions

Illusions of Economic Recovery: Negative Interest Rate Controversy

Editor: Vladimir Bajic | Tactical Investor The Paradox of Negative Interest Rates Updated February 2024 The concept of negative rates ...
Mastering the Trading Range

Mastering the Trading Range: Unlocking the Potential for Explosive Gains

The Trading Range:  Masterfully Navigating Volatility  Feb 14, 2024  Introduction In the ever-fluctuating world of stock markets, mastering the trading ...
Unlocking Precious Potential: The Rational Case for Owning Bullion in the Gold to Silver Ratio

The Golden Symphony: Unveiling the Dynamics of the Gold to Silver Ratio

Updated Feb 2024 Securing Future Finances: Gold-Silver Ratio Insights In a world of illusory economic recovery driven by hot money ...

Inside the Market Psychology Cycle: Unveiling Trends and Tactics

Mindset Mastery: Cracking the Market Psychology Cycle Updated Feb 13, 2024 Intro Market psychology, a crucial aspect of trading and ...
South China Sea Showdown: the heat is on

South China Sea Showdown: Intensifying Heat on the Horizon

The South China Sea Showdown: A Tragedy in the Making? Feb 8, 2024 Introduction:  In the ever-evolving geopolitical landscape, one ...
Will the Stock Market Crash: Analyzing Possibilities and Implications

Will the Stock Market Crash: Analyzing Possibilities and Implications

Will the Stock Market Crash? Resilience Amidst Uncertainty Feb 8, 2024  Debunking Stock Market Crash Fear: Why It's Nonsensical For ...
China Quantitative Easing

 China Quantitative Easing: Battling Economic Slowdown

Feb 6, 2024 China Quantitative Easing Strategy: Combating Economic Slowdown Introduction: As a financial analyst, it is essential to delve ...
What is Data Manipulation and Its Nefarious Applications?

What is Data Manipulation: The Dark Side?

What is Data Manipulation: Its Nefarious Uses Feb 5, 2024 Data manipulation is a practice that involves distorting and altering ...
corruption in china; Aggressive crackdown on Crooks

Corruption in China: Government’s Aggressive Crackdown on Wrongdoings

Unveiling the Veil: China's Corruption Conundrum Under Intense Scrutiny Feb 4, 2024 Introduction: Corruption in China has been a longstanding ...
Things That Scare Americans The Most

These Are The Things That Scare Americans The Most

Editor: Draco Copper | Tactical Investor Corrupt government officials scare Americans more than Terrorists. Feb 3, 2024 According to more recent ...
Exotic Art: The Fusion of Art and AI Brilliance

Exotic Art: The Fusion of Art and AI Brilliance

Discovering the World of Exotic Art: Amplified by AI Jan 31, 2024 Exotic Visions: The Harmonious Blend of Art and ...

Dow Transports Validating Higher Stock Market Prices  (Dec 30)

Global Trading Volume is Declining & It’s A Non Event  (Dec 20)

Dogs Of The Dow Jones Industrial Average  (Dec 10)

Trump Stock Market: Will Impeachment Hearings Derail This Bull   (Nov 21)

Negative Thinking: How It Influences The Masses  (Nov 15)

Leading Economic Indicators: Finally in Syn With The Stock Market?   (Oct 28)

Dow Stock Market Outlook: Time To Dance or Collapse (Oct 25)

What Is Fiat Money: USD Is Prime Example Of Fiat (Oct 13)

Yield Curve Fears As Treasury Yield Curve Inverts (Oct 12)

Current Stock Market Trends: Embrace Strong Deviations  (Oct 2)

Market Insights: October Stock Market Crash Update  (Oct 1)

BTC Update: Will Bitcoin Continue Trending Higher  (Sept 17)

Stock Market Forecast For Next 3 months: Up Or Down? (Sept 16)