Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Gold Prices
Gold Price
[Most Recent Quotes from www.kitco.com]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« 2013 Was A Phenomenally Successful Year for SKOPTIONSTRADING | Main | Fed kicks off global dollar squeeze as Janet Yellen turns hawkish »
Wednesday
Jul162014

Could the imminent Golden Cross on the Dollars Chart be the counter balance for Gold’s Progress?

A golden cross is when the 50dma swings in an upward direction through the 200dma. Gold has just experienced one, silver could experience one in a week or so and the HUI has just experienced one. As we all know none of these technical indicators are perfect and they don’t always work out as expected, but these crossovers in the precious metals area give rise to hope of higher prices.

For those readers who reside in North America it is the percentage change in USD terms that interests them most. Readers in the UK, Europe, Africa, Russia and China, etc., are for the most part only concerned about the price fluctuations as measured in their own currency.

So if we take a quick look at the above chart of the USD we can see that the old dead cat dollar itself is about to undergo its own golden crossover and if it does would it signal a move to higher ground for the dollar. The crossover in gold may well be negated by the one in the dollar and subsequently hamper gold’s progress.

No doubt all will be revealed over the next few weeks, but as of today the dollar appears to be heading north and gold prices are heading south as shown on this snap shot courtesy of Kitco.com.

 We did cover this subject in a tad more detail in an article entitled:

The Golden Cross for Gold Is Not Always a Positive Indicator

If you wish to read it please click here.

Go gently out there as these are treacherous waters for investors and traders alike.

The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray and you are getting our emails.

 

 

Winners of the GoldDrivers Stock Picking Competition 2007

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>