Re: Gold Chart Outlook 2/4/2023
Charts do not and cannot tell the whole story.
"Gold will trade between $1750 and $1905 for the next 3-6 months."
3 days ago "CNBC" (let me say that again) "CNBC" woke up and reported:
Gold demand surged to an 11-year high in 2022 on ‘colossal’ central bank buying
So the charts are saying that surging gold demand causes and results in lower gold prices and lower trading ranges. That is the "whole" story?
We are living in and experiencing a 4th Turning event. The current world reserve currency is gradually gradually collapsing. For whatever reason American leadership in Washington D.C. believes the U.S. Dollar will and U.S. Military will remain supreme for years to come. I have my doubts about that as I watch the world turning away from the PetroDollar system.
America cannot afford the debt load to keep doing what we are doing. The entire world cannot afford their respective debt loads. What do the charts say about the ongoing protests that are not reported by American Mass Media. What do the charts say about the coming shortages in fertilizer, food and other natural resources? How accurate are chart predictions on animal instincts disruptive markets? I suggest the charts are clearly accurate only after a major disruptive disorderly event. Charts do have their value but I suggest investors be aware of their predictive limitations.
The Russians and the Chinese are moving towards a gold standard. Derivative traders are still running paper (not backed by physical gold) positions in the gold futures market. They are aware of the danger of BRICs alliance moving to a gold standard. What happens if there is a Black Swan announcement of gold supporting a trade currency? So what do the derivative traders do? They want to get out of and close those naked short positions. That is why they have again taken advantage of the opportunity presented by yesterday's fake jobs report to viciously bang the market.
Now, where did I put my decoder ring that warns me when criminal corruption activity is occurring.
We do not have a free market. The market is manipulated. The government reported numbers are manipulated. I am suspicious of technical analysis of and regarding the heavily and opportunistically manipulated precious metals market.
I recommend everyone fasten their 2023 seat belts. We are in for a wild ride this year.
Keep stacking. COMEX paper silver market "Going out of Business Sale" has started. My COMEX being drained chart tells me so. No wonder TPTB try to keep that information delayed and obscure.
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|Msg #||Subject||Author||Recs||Date Posted|
|262885||Re: Gold Chart Outlook 2/4/2023||Luckyone581||8||2/4/2023 5:08:33 PM|
|262899||Re: Gold Chart Outlook 2/4/2023||Under the Radar||14||2/5/2023 11:04:19 AM|