Gold USDollar risk position | close 04 Sep


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.

GOLD FORECAST

(Previous update in brackets)


Gold/USD Monthly Weekly Daily
1826 (1816)
Au Trend ↓ (↓) ↑ (↑) ↓ (↑)
Au % Risk
Weight
36 (36) 48 (40) 83 (88)
Total PM
Portfolio allocation 40% (40%)
Pt:33% Ag:33% Au:33%

Gold/USD live price

 


FULL PAGE CHART

Physical Gold: Nature's currency

04 September: A new month has arrived and appears to show little change from last week. Monthly risk however has narrowed into a potential uptrend following a one year correction move with risk weight dropping from around 95% to 35%. The May to August period has a strong technical 'end of corrective wave' formation. Gold is NOT a favoured investment right now which in our view makes Gold even more appealing in a (potentially) high risk financial space and even though Central Banks will not taper under current QE policy. This market may well see another sell-off again which cannot shake our long term patience. No Change.

27 August close: Little change or excitement in metals last week , hence no update.
Last Friday Gold appeared to have another attempt north closing the week at an August high.
With weekly turning higher across indicators with minor bullish divergence, the current trend is likely to be the start of a fresh uptrend. At these levels we really like Gold, Silver and Platinum as serious safehaven assets. Monthly gold risk has continued to drop into the broader 30+% handles during the 1 year correction. A strong close for the month, even with a lower and downtrending risk reading is likely to drop long term risk into a potential for turning very positive for Q4 2021. Long term Hold.

Gold USD (interim) quarterly period



close

Sign-up to our Newsletter

Read our privacy policy for more info.

Posted in A - All Financial Blogs | 2021 Forecast, GOLD FORECAST 2021.

Leave a Reply

Your email address will not be published. Required fields are marked *