hi any body noted the Spread last Thursday when Mr trump ---speaks on gold spread from 62 to 132point while 3408 ish area on cash high but Future went blasted and placed high 3535-----Basis == play ---!!
Hi fayq!
I haven't been following gold that close lately but believe you.
I followed that.
Trump says "tariffs on gold" and it shot up to new highs.
Trump changed his mind a day or two later and gold gives it all back.
Thanks for helping us out with that explanation, joj!
Previous thread:
Gold adjusted for Inflation
21 responses |
Started by joj - April 24, 2025, 7:18 a.m.
Here's some charts from different times frames.
1. 10 year-strong up trend with steeping/increasing slope. The chart formation at the end looks most like a bull flag. This is a pattern continuation formation with a confirmation coming by closing at new highs. Trumps chaos and uncertainty is good for the gold bulls.
2. 1 year-very long lived flag/pennant. This chart shows the price touching the upside resistance 3 times which has been like a brick wall. Downside support touched 2 times the last 1.5 month and slightly higher than the low in May. We can see the decisive break out from a bull flag to start this year.
3. 1 month-I just guessed on where to draw red lines that may be important. Mostly likely some sort of bull flag, though gold looks weak at this time frame from lower highs.
4. 1 week-lower highs and we are currently trading close to weekly lows/support.
https://tradingeconomics.com/commodity/gold
