GOLD/ XAU/USD analysis IMPORTANT for future financial security. 13

Here is my XAU/USD GOLD weekly chart!

As you can see Gold has been ranging between $1565 > $1783 Per ounce since Nov 2011! creating all time high just before @ $1918

Last week GOLD put in a bearish engulfing candle, bouncing off the upper channel line. I would say it it time for gold to revisit the $1550 lows, if we can break this level with a strong breakout candle I would even go as low as $1350/1300!!!

Here around $1300/50 you can see the 200EMA and a major support level...I would think this level is being watched by large institutions as a perfect place to get in long into years to come....

with most countries at war to devalue their currency by printing non stop fake fiat notes.. it can only continue for so long until hyperinflation hits the people, crazy gas prices and food prices will hit hard, mainly impacting the middle class as their savings and pensions will be devalued and torn apart!!!!

If we see GOLD @ $1300's will be wise to buy...Will be even better if you can get GOLD bullion physical bars!!! (certificated) As with such economical unbalance I think we will have to somehow get back to the GOLD standard....I even hear some governments placing bans on the citizens buying gold, and see more gold buyers on the high streets these days than ever!!!

LOOK AT THE CLUES BLATENTLY IN YOUR FACE PEOPLE!!! secure your financial future with REAL MONEY/ precious metals, this paper has no worth apart from the tree it was from!!!

stay smart as bumpy times are ahead.
Happy trading!
@SP_FX13

Tags: GOLD, XAU/USD, analysis, idea, longterm, trade, weekly

3 members like this

Comment by FAISAL KHAN on February 8, 2013 at 12:46pm: Thank you sir..

Comment by Romano on February 8, 2013 at 2:01pm: Hello Shaun, I was too watching weekly gold recently. There are few clues that I dont feel comfortable for shorting:

First notice that most recent rally was very sharp - while last downtrend is very mild.This says something about bull vs bear strength as a first clue.

Also notice pattern I marked.

Next thing is a liquidity we are touching now(between green and yellow area), while upper one sits at around 1800 and higher.

There is thus so far double bottom forming with second bottom higher low, of course we still need to break through that channel u correctly marked.

All things together, especially with this mild downtrend curve, I dont feel very well shorting it, in fact looking for long opportunity till at least 1800 or more - as soon as I see some strength.

Also note that even if price retrace all way back to yellow line, as long as this downtrend is this weak it wont negate pattern, only sudden sharp move on weekly would convince me otherwise.

Only time will tell but thank you for your analysis, its always great to see different view.

Best regards

Comment by Shaun Powell on February 8, 2013 at 2:47pm: yeh i see tht too thanks

Erm , I think, with regards to this summers astrological placements which are unique to our times,

we will see much political unstability especially towards dec 2013. the 100 year contract of FED is up, we will see crazy stuff happen. banks will dip gold before it blows to the heavens!!!

I have partners who deal gold bullion, I wil surely be stocking up!

Comment by Romano on February 8, 2013 at 5:29pm: Shaun what exactly u mean by "100 year contract of FED is up"? I dont understand...

Btw if price really dip to 1300 or even 1200 - thats a steal, I will probably buy little more too.

In moment cost to dig raw should be about 600$ per oz on average. This does not include melting and other postprocessing, storing, securing etc. Whole cost should be on average about 1250$ according to info I saw. Considering they put some margin, ~1000$/oz is probably lowest possible price(at miners price deal).

Since retail always have extra cost to it, u will be a lucky man if u will be able to buy gold for 1300 or less(and actually get some available).

Right now CBs cannot dump it because they dont even have enough. Also FED doesnt have any gold, they are lying about those 7k+ tones otherwise it wouldnt take 7 years for them to give back to germans:

http://www.zerohedge.com/news/2013-01-16/it-will-take-fed-seven-yea...

It is btw same time it take to produce gold in south africa which explain recent military operation in Mali(which is main gold producer btw).

And whatever JPM suppress, China use it to buy physical - which actually increased its purchases in recent months.

Comment by Shaun Powell on February 8, 2013 at 5:48pm: yeh FED dont have gold they use it for different purpose. FED was created dec 23rd 1913.. 100 year contract to dec 23rd 2013...

There time is up soon, hyperinflation is hitting home, real sad time for the middleclass with pensions & ISA savings :(

Comment by Romano on February 8, 2013 at 6:56pm: I see, well I am pretty sure its contract get renewed for another 100y, so no big deal ;))

Comment by Shaun Powell on February 9, 2013 at 12:33pm: not this time pal

Comment by Shaun Powell on April 15, 2013 at 2:31pm: BOOM GOLD IN 1300 REGIONS

Comment by Amjad Siddiqui on April 16, 2013 at 10:53am: Shaunn u r the man. u told us 2 months ago thiss level of gold which no one predicited or supported .. Salut!

Comment by Max on April 16, 2013 at 11:47am: Dude, why are you selling other people's indicators (and stuff available for free) on your own website???