[Belgrade Bobby]

And same goes for Gold – Weekly

Read a prophecy like article on it here 😀

[michael Calif]

for us, our Option Profile still suggests a top in June Gold futures above 2400 from the Feb 14 lows (starting @ 2421)

[GVI Forex 2]

XAUUSD 1 HOUR CHART – CONSOLIDATION

i asked yesterday whether gold was in consolidation or correction mode.

Price action suggests the former as long as it stays above 2324, a stronger bid if it can trade above 2362.

On the other side on a move above 2431 would end the consolidation.

[michael Calif]

per last Thursday, our Option Profile still confirms a top in June Gold futures above 2400

[SF Monedge]

Jp thank you.  Don’t recall if I posted this Thursday night from my colleagues: …  “the Gold Option Profile has inverted to sell side for the first time since the Feb 14 low; selling June Gold futures above 2400 to test the market.”

[Mtl JP]

GVI 08:17 / the week-end is still young.
Did you bag the $100 bux on short Gold ?
–
curtesy cnn this sat 13th morning:
– Revolutionary Guards seized the vessel near the Strait of Hormuz, state media reported
– US expects Iran to carry out direct attack on Israel, sources say, as Biden warns ‘don’t’
– What an Iranian attack on Israel would mean for the US, according to retired general (hahaha)

[GVI Forex 2]

xAUUSD 4 HIUR CHART – NEW HIGH BUT THEN….

This is the second Friday that gold traders have seen a bloodbath, the last time trying to pick a top and this time sseeing a 4% drop after setting another record high.

The price action is not fatal to this relentless bull run, dependent on 2318 holding as support to keep the retreat from turning into a full-scale retracement.

What has changed is that moves up in XAUUSD will nort run into stops unless a new high is made.

[GVI Forex 2]

I was chatting with JP earlier who said gold could fall 30-50 bucks. Well, he was wrong. It fell almost $100 from its high.

No matket was immune from
liquidations today (BTC -4.5%)

[Mtl JP]

DLRx 105.72
–
one would have to be somehow handicapped not to see the DLR romping and rampaging accorss the boad (except maybe vs the yen)

as players are likely gaming a few energy vectors:
– goodly yield spread
— eyeballing and anxiously re-pricing FED gang miscalutations about inflation bumps
— GOLD continues to look uP (i.e. good) as is energy in form of oil

some thanks has to go to wild media headlines about harsh diplomacy between Israel and Iran for at least some portion of players running into dlrs thinking “haven”.

on deck
10:00 – U o M sentiment and U o M 1yr inflation
13:00 – schmid yaks about “econ Outlook”
14:30 – bostic yaks about housing
15:30 – daly chitchats at fireside

earlier this morn collins prognosticateg that she sees no urgency to cut rates (and eyeballs two cuts in 2024)

I am biased BoD DLRx (and some dlr crosses)

[SF Monedge]

My colleagues are of the position that the option profile still suggests June Gold futures are no longer bullish above 2350  …

[SF Monedge]

My colleagues believe Yen June futures are forming a tradeable low under .6600;  June Euro futures remain seller controlled for now.  Also, Option Profile still suggests June Gold futures are no longer bullish above 2350.

[SF Monedge]

So what does that matter with currencies you ask?  I asked so many times we lost count.  Australian Dollar tends to move with Gold and Canadian Dollar tends to react with Oil.  But it is not a perfect correlation.  There is only one true correlation.  Elevate your sense of markets.  For example, when I was a CTA I would pull up Reuters front page first thing just to gauge the MOOD out there.  Some people call that juvenile, but guess what, they apologize to you years later.  Ultimately you have to make decisions.  And everyone is on the hook.  I found if you are not having fun, you are missing some things.  When it gets fun, you are making money, but do not get arrogant.  Always accept input.  It is your choice of who or what to listen to.  Don’t let the animated shock jockies touting 100000000000000 % gains fool you.  I worked with some of them.  Half ended up in handcuffs in major banks.  Your trading has to be pure.  You have to know you can.  You have to feel you can.  And you have to do it right.  Then it gets good.

[Mtl JP]

some still harping the fed int rate cut theme
–
“(Bloomberg) — Economists at Goldman Sachs Group Inc. are forecasting two Federal Reserve interest-rate cuts this year instead of three…”

[SF Monedge]

Per my colleagues … Option Profile suggests June Gold futures are no longer bullish; actively searching sell entry point.

[Belgrade Bobby]

Gold – As long as Above 2300 is a Buy

[SF Monedge]

Ok miscalculated by a hair, lets see what it does, I’m spread elsewhere so no big deal, if it holds we are gold, if not, hedged elsewhere and cut and run

[SF Monedge]

Buy side of Aud on dips is solid to me today as well as gold.

[Mtl JP]

“We forecast a 0.29% rise in headline CPI, reflecting higher energy (+0.7%) and food (+0.2%) prices. Our forecasts would lower the year-on-year rates to 3.70% for the core and 3.37% for the headline,” Goldman Sachs note

[GVI Forex 2]

THIS IS THE QUESTION BEING ASKED AS XAUUSD (GOLD) CONTINUES ITS RELENTLESS CLIMB TO NEW HIGHS. SEE WHAT MIGHT COME NEXT IN THIS EXCLUSIVE BLOG ARTICLE

Just today Gold has hit it’s new record high of All Times – 2365.34 $ per Ounce.

In the past year, it has surged roughly 16%, and just in the past month 5.6%

Is the Gold rally going to stop, and when ?

[Mtl JP]

opinion as a forecast …
–
“We forecast a 0.29% rise in headline CPI, reflecting higher energy (+0.7%) and food (+0.2%) prices. Our forecasts would lower the year-on-year rates to 3.70% for the core and 3.37% for the headline,” Goldman Sachs