Peter Hug: Gold, silver prices bounce off support, can rally last? Kitco NEWS
Month: December 2020
BNN Bloomberg/Asli Kandemir and Ugur Yilmaz/11-27-2020
“A year of crisis for the lira has kept Turks buying gold at a record pace. Now the appetite for more bullion risks becoming a drag on the currency just as a rally struggles to regain momentum.”
USAGOLD note: Below is a picture of what happens to the price of gold when a nation-state allows or forces its currency to deteriorate. And some are astonished when the population flees to gold?
Turkish lira in U.S. dollars
(Five years)
Gold in Turkish lira
(Five years)
Charts courtesy of TradingView.com • • • Click to enlarge
The post Turks keep buying gold at record pace as lira plummets first appeared on Today’s top gold news and opinion.
Money & Markets/Michael Carr/11-4-2020
“In How to Make Money in Stocks, the book that introduced the [Cup and Handle] pattern, William O’Neil explained that the initial price target for a breakout is 20%. That provides a price target of $228 for GLD or about $2,280 an ounce for gold. But that is for a short-term pattern that sets up over six months. This is a long-term pattern that comes after a consolidation that formed over a decade. Momentum could carry the price of gold much higher.”
USAGOLD note: Some interesting technical analysis based on an old theory finding a new application today. Carr is a Chartered Market Technician for Banyan Hill Publishing and teaches technical analysis at the New York Institute of Finance.
The post This reliable pattern shows a bullish trend for gold first appeared on Today’s top gold news and opinion.
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The post https://www.usagold.com/cpmforum/2020/12/invest-in-gold-and-silver-through-a-company-you-can-trust/ first appeared on Today’s top gold news and opinion.
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