We just has a bank failure in the US which may be the trigger for investors to flock to gold. Was expecting this to come from European or Asian banks but looks the tech crash is more severe than the other problems in Europe and Asia. Now I wonder what the Fed will do. Will the continue to raise rates and risked being blamed for other bank failures or would they pause or pivot but risk higher inflation? My take is they do not care much about the stock market or crypto market but they will have to be worried when the banks are affected as banks are their bread and butter. Bear in mind when you see one cockroach there are many others hidden somewhere.
Attach is an update of the weekly line chart of the gold price in Aus. We can see since the last posting prices now is testing the all time weekly prices.
The daily chart of the aus gold price is also testing the highs.
And the daily line chart showing the breakout
Meanwhile the gold price in usd is showing a possible reverse head and shoulders pattern with a price objective way above the all tine highs
Best looking weekly chart, page-1284
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Last
$15.85 |
Change
0.150(0.96%) |
Mkt cap ! $18.22B | |||
| Open | High | Low | Value | Volume |
| $16.00 | $16.05 | $15.81 | $86.08M | 5.402M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9868 | $15.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.86 | 1500 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| NST (ASX) Chart |