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.
(Previous update in brackets)
|Au Trend||↓ (↓)||↑ (↑)||↓ (↑)|
|Au % Risk
|36 (36)||48 (40)||83 (88)|
Portfolio allocation 40% (40%)
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.