Gold/USD risk prediction | 19 November 2021


Gold Price Forecast relative to
Long Term Quarterly, Monthly - Medium Term Weekly - Short Term Daily - and Hourly (not shown) risk weight data.

GOLD FORECAST

(Previous update in brackets)


Gold/USD Monthly Weekly Daily
1845 (1863)
Au Trend ↑ (↑) ↑ (↑) ↓ (↓)
Au % Risk
Weight
33 (31) 83 (75) 84 (91)
Total PM
Portfolio allocation 40% (40%)
breakdown:
Pt:14% Ag:14% Au:12%

Gold/USD live price

 


FULL PAGE CHART

Physical Gold: Nature's currency

19 November: Precious metals lead by Gold held remarkably well as the USD currency continued to strengthen during the week. The Friday sell off we've seen so many times the past several months appears to have weakened whilst the weekly range was fairly narrow. There isn't a strong indication as our tools show mixed risk whilst the price consolidates horizontally in range trading above the september 1834 high. Gold remains a strong hold, especially now that the crypto narrative has strengthened with calls for 2X, 5X and even 20x. This triggers our contrarian feeling as crypto largely remains a speculator-type dominant market.

12 November: Gold appears to be finding more interest as other asset classes reach speculative extremes whilst keeping larger amounts cash in the bank is not really a very good option either. Gold preferably should find its support above the 2011 highs again to seriously create a larger market insurance platform. This moment will no doubt come as technicals point higher with Weekly, Monthly and Quarterly risk weight charts all pointing up.
Strong Hold.



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

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