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Dollar basket at its month low nearly so this is giving strength to gold prices. 

Likely to continue though? I don’t know... that would be a strong supporting trend line to break you know.

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That last weekly candle really stood out which was why I posted it yesterday evening and there seems to be strong  continuation for the bounce today. The start of the trendline dates back to the end of 2015 and it's looking pretty solid.

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Chris B makes long gold the 'IG trade of the week'. See link and vid.

 

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@Caseynotes, the main play for Gold right now is Brexit and the political and economic uncertainty that comes with it. This could have a ripple effect across the globe. 

I will be very interested to see when D Day comes whether the capital flows to Bitcoin or Gold in terms of safe haven allocation. I don't know what will happen but I am intrigued as to whether the money moves into Gold or Bitcoin. 

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China, India and Russia are great gold buyers/hoarders and the creeping escalation of the 'Trump trade war' will likely fuel the gold bounce up off long term trendline support for the near term and that's about as far as anyone can see at the moment. 

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Casey that’s a great article. Very very interesting and a bit of that investigative journalism sort of thing going on. 

The implcations if China are looking to control gold prices is huge, especially if the speculation on them hoarding for the last twenty years is correct...

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It's all a bit chilling isn't, a well put together piece drawing together lots of strands from different aspects and sources. Those charts are a bit of an eye opener.

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Great piece - nothing like a good bit of manipulation in the macro markets. Lets be honest we are kidding ourselves if all the major global players aren't trying to manipulate the markets.

European and western guys just call it 'quantitative easing' though. :D:D

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This is a follow up article to the one posted above (11 July).

No Bottom in Gold until Trade War Ends - David Brady (08/08/2018)

 "I keep getting the same arguments trying to undermine the existence of a Chinese peg for Gold in yuan terms, despite having clearly provided the rationale for why the Chinese would enforce such a peg and the simple math for why it is now almost exclusively driving the Gold price. Yet people continue to question its existence".

https://www.sprottmoney.com/Blog/no-bottom-in-gold-until-trade-war-ends.html

gold1.PNG.585a6c6950d100c70a34c985f50c916b.PNG

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2 hours ago, Caseynotes said:

This is a follow up article to the one posted above (11 July).

No Bottom in Gold until Trade War Ends - David Brady (08/08/2018)

 "I keep getting the same arguments trying to undermine the existence of a Chinese peg for Gold in yuan terms, despite having clearly provided the rationale for why the Chinese would enforce such a peg and the simple math for why it is now almost exclusively driving the Gold price. Yet people continue to question its existence".

https://www.sprottmoney.com/Blog/no-bottom-in-gold-until-trade-war-ends.html

interesting take really - especially at these1200 levels you can't help but look back at the chart and see the support and a number of good bounces and think we're going to be looking at a reversal. I put in a little in an ETF when we hit 1205 but now I'm not so sure... :(

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