Gold/USD 7 consecutive weekly closings above 2011 | 4 September, 2020
Gold Price Forecast relative to
Long Term Monthly (LT-M) – Medium Term Weekly (MT-W) – Short Term Daily (ST-D) – and Hourly (not shown) data
(Previous week in brackets)
|Au Trend||↓ (↓)||↓ (↓)||↓ (↑)|
|Au % Risk
|90 (94)||69 (71)||35 (42)|
|Allocation||Pt:20% Ag:45% Au:35% (Total 100%)|
Gold/USD live price
28 August:: We have split our PM forecast blog into the three separate metal sections Gold, Silver and Platinum. The allocation shown is adjusted to reflect the ntrue allocation in the total portfolio to each of the major metals. The Silver and Platinum sections also show resp. the Gold/Silver and Gold/Platinum ratio analysis.
Gold has now had 6 consecutive weekly closings above the 2011 highest weekly close which was 1882 on 29 August 2011. That means that the current higher level is an accepted reality. We yet need to see a first Medium risk weight attempt at bearish divergence. A (much) higher price combined with a lower risk weight level turning down. Until such time no change to holding our maximum allocation to gold and platinum.
PT needs a move above 1040 to trigger the expected rally to equilibrium or at least towards $1925. Patience will be rewarded.
Gold/Euro live price
4 September:: Looking for minimum 1800 target or above.
Gold/British Pound live price
4 September:: Looking for minimum 1613 target or above.