634 replies to this topic

[senorBS]

so looks like AEM/GG/NEM had good to solid numbers, Barrick weaker than expected. So no disasters with these large senior goldies, lets see how the day goes. Gold and silver do look like a possible near term bottom

 

Senor

[senorBS]

so looks like AEM/GG/NEM had good to solid numbers, Barrick weaker than expected. So no disasters with these large senior goldies, lets see how the day goes. Gold and silver do look like a possible near term bottom

 

Senor

shaking out more now with ABX getting crushed, NEM to new decline lows after early pop, AEM and GG up big

[dharma]

big picture. https://gracelandupdates.com/wordpress/wp-content/uploads/2017/10/2017oct26mzm2.png   so the deflation is seen in this chart and it is continuing today. the inflation the fed has been looking for  , even a meager 2% has not shown up.  then this expected of draghi today https://www.cnbc.com/2017/10/25/ecb-set-to-unveil-taper-lower-for-longer-style.html   qe and 0 rates have been deflationary in spite of expectations.  then we have gs currie in a hurry https://www.cnbc.com/video/2017/10/25/goldman-sachs-jeff-currie-cryptocurrencies-not-a-risk-to-gold.html

 

the hourly divergence in gdx is gone gdxj holding . if this market doesnt get its footing soon, 1200-1215 or lower might be seen.  miners getting clobbered each and every day. like russ i have been watching the wedge, which imo the market has not broken out of . so might be a picasso.   could be one more washout ???? 

1268 a fib # seems to be the target

dharma

[Russ]

Gold is now right at the bottom of it's wedge now, we'll see it it holds, dollar index is going gangbusters.

big picture. https://gracelandupdates.com/wordpress/wp-content/uploads/2017/10/2017oct26mzm2.png   so the deflation is seen in this chart and it is continuing today. the inflation the fed has been looking for  , even a meager 2% has not shown up.  then this expected of draghi today https://www.cnbc.com/2017/10/25/ecb-set-to-unveil-taper-lower-for-longer-style.html   qe and 0 rates have been deflationary in spite of expectations.  then we have gs currie in a hurry https://www.cnbc.com/video/2017/10/25/goldman-sachs-jeff-currie-cryptocurrencies-not-a-risk-to-gold.html

 

the hourly divergence in gdx is gone gdxj holding . if this market doesnt get its footing soon, 1200-1215 or lower might be seen.  miners getting clobbered each and every day. like russ i have been watching the wedge, which imo the market has not broken out of . so might be a picasso.   could be one more washout ???? 

1268 a fib # seems to be the target

dharma

[Smithy]

 

Gold is now right at the bottom of it's wedge now, we'll see it it holds, dollar index is going gangbusters.

 

 

Not in the $AUD interestingly enough, which is a commodity currency.

[dougie]

Sub 1100 one more time?

[dougie]

GDXj abcd now e down to complete 2 or its a LONG away down

[Russ]

Gold is now close to the bottom of it's wedge now, we'll see it it holds, dollar index is going gangbusters. given that my original signal for a high in gold stocks now has inverted the low may be near at least short term but I also have a GDX signal for a low in Feb. 2018 which could be a test of the 2015 low and the dollar index has a strong trend for a big high in Oct. 2018 which should then be followed by a major low in 2020 which also shows up for a big high in Gold. 

 

 

[Russ]

Dollar index chart showing high coming in Oct. 2018 then major low in 2020. This ties in with Armstrong's view that the Dollar is going to rally hard as capital seeks relative safety from Europe and Japan's troubles and it will create a strong headwind for gold.

 

[dharma]

i doubt armstrong will be right on this one. the dollar is the most indebted currency in the history of the world  97 ish is what i see then down 

in the last 8 trading days gold has been down 7 of them .  it close to going oversold the miners are oversold .  the question is do we test 1200 again. i have dry powder. 

and am waiting for this slippery slope to show signs of  a good bottom

dharma

Edited by dharma, 26 October 2017 - 02:08 PM.