Gold Price over $1,800!!, page-3

@TheFactaa, I love your enthusiasm, but if you look at the current price of gold (POG) compared to the last 12 months, or longer, it isn't going anywhere in particular and is not even back to where it was at the beginning of the year (over US$1350). The reason for the POG uptick over the last month has plenty to do with US mid-tern elections (where Trump lost control of Congress, as of 2 January, though he increased his Senate majority), his temporary government shutdown over the border wall funding, and the (more serious and LT) trade war with China. Expect to see POG drop again when the border wall funding issue is resolved (one way or other), and trade matters with China look like being ironed out.

BTW for those who want to follow POG, I find ***** gives the best daily, monthly, annual and LT snapshots (for free).

https://www.*****.com/charts/livegold.html


As to the Aussie dollar, yes, it's dropped since January 2018, but looking at the broader picture, it's been range-trading between 0.68 (low) and 0.82 (high) for the last 3 years, with strong LT support at 0.68. Unless something major happens (like a Labor government being elected and completely stuffing up the economy, as they tend to do ), I would expect AUD to bounce off 0.068, if it should get that low (remembering there is a ST support at about 0.702).

AUD weekly chart (LT)




AUD daily chart (ST)