Investing
Haven
No Result
View All Result
Forecasting Global Markets
  • Login
  • 2023 Forecasts
  • Stocks
  • Commodities
  • Silver
  • Lithium
  • Crypto
  • Top AI Stocks →
  • Top Silver Stocks →
  • TOP ENERGY STOCKS →
  • Top Lithium Stocks →
  • CRYPTO SELECTION →
Investing
Haven
  • 2023 Forecasts
  • Stocks
  • Commodities
  • Silver
  • Lithium
  • Crypto
No Result
View All Result
InvestingHaven
No Result
View All Result

Gold Pushback From Other Markets, Gold Will Shine But Simply Not Now

by Taki Tsaklanos
February 14, 2017
in Reading markets
0
Tags: GLDSLV
GOLD PRICE
Share on FacebookShare on Twitter

The price of gold is retracing from its recent rally which peaked at $1250. InvestingHaven called out $1220 and $1260 as two major price levels which investors are watching very closely. These price levels carry a very high level of importance. The short term gold price chart (daily chart below) makes that point.

Gold closed 0.03% lower today.

Although gold could go a bit higher, it still remains in a long term bear market. The most concerning fact for gold bulls is that most markets are not supporting higher gold prices. In other words, gold is getting pushback from most other markets. In our own words, intermarket dynamics are not lined up to support a gold price rally.

Price of gold vs intermarket dynamics

Markets are not trading in isolation, they trade ‘against’ each other. That is because money flows from one market to another one. That is what InvestingHaven calls “intermarket dynamics.”

Right now, stock markets are on the rise, yields are rising which results in a stronger dollar, the Euro is weak. Market conditions are supporting ‘risk on‘. As gold reacts on fear (or on inflation), it seems that markets are lined up for neutral (at best) or bearish (worst case) gold prices in the coming months.

This viewpoint underpins our gold price forecast for 2017.

The only market that is supporting precious metals is the strong bullishness in base metals. However, even with strong price action in base metals, we don’t see a spillover effect on gold, and, more importantly, silver. Given the extended rally in base metals, we would expect that the ‘base metals factor’ will fade in the coming weeks, removing the only bullish factor for precious metals.

The point in all this is that gold’s time simply has not come … yet. For every bullish trends, there is an ideal timing which is largely determined by intermarket dynamics. For gold, the timing is not now. At a certain point in time, possibly late 2017, gold will start shining again, and gold bulls can take aggressive positions in the precious metals complex. That time is not now.

Receive our weekly newsletter.

*We hate spam as you do.

premium service trade alerts   premium service trade alerts   premium service crypto teaser  
WARNING: InvestingHaven.com, our site, is not affiliated and has no connection whatsoever with Invest Haven Group on Invest-Haven.com or Investing-Haven.com. InvestingHaven.com did not have and will never have sales reps. Do not accept financial offers, certainly not by telephone, this is why >>
Taki Tsaklanos

Taki Tsaklanos

Taki has +15 years of experience in global markets. His methodology is unique and effective, yet easy to understand; it is based on chart analysis combined with intermarket / fundamental / sentiment analysis. His work appeared on major financial outlets like FinancialSense, MarketWatch, ... Email: taki.tsaklanos@gmail.com. Twitter: twitter.com/investinghaven

Latest

stocks forecast

How To Know When The S&P 500 Confirms A Bullish Turning Point?

September 28, 2023
cryptocurrency forecast prediction

The Most Bullish Cryptocurrency Chart Setup Of October 2023

September 28, 2023
leading indicators

Will The S&P 500 Find Support At Its 200 Day Moving Average?

September 24, 2023
uranium stocks

Is The Breakout In The Uranium Market Confirmed?

September 24, 2023

Connect with InvestingHaven

Receive top notch forecasts for free.

*We hate spam as you do.

Categories

  • 2023 Forecasts
  • Stocks
  • Commodities
  • Silver
  • Lithium
  • Crypto

Site Navigation

  • RSS Feed
  • About us
  • Mission 2026
  • Sitemap
  • Privacy & Disclaimer
  • Terms of Service
  • InvestingHaven vs. Invest-Haven
  • Contact Us
Investing
Haven

Top notch forecasting with gold price forecast, many stock predictions, cryptocurrency charts. Many investing tips and crypto market analysis.

Copyright © 2023 InvestingHaven

No Result
View All Result
  • 2023 Forecasts
  • Stock market
  • AI Stocks
  • Alternative Energy
  • Lithium Articles
  • Lithium Stocks
  • Silver Articles
  • Silver Stocks
  • Crypto Articles
  • Premium Crypto Research
  • Premium Services & MyAccount

Copyright © 2023 InvestingHaven

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

    InvestingHaven.com honours your privacy. Read our Privacy Policy