24K99 News On Thursday (April 18), gold fell to 2,369 US dollars. Bob Moriarty (Bob Moriarty), founder and analyst of the financial website 321gold.com, said that the short pullback in gold prices was a sane market transaction situation. He hoped to see an 8-10 day adjustment, but he didn't think it was a major adjustment.
Bob pointed out, “After the golden bulls attacked, OK, sanity came back. But that's my idea and understanding; there are two different situations. The market reacted the way it was supposed to; the other was that we started World War III.”
(Source: GoldSeek)
“If we launch a third world war, obviously all bets will fall short. But gold should be adjusted now; I don't think this will be a big adjustment, but I'm hoping to see an 8-10 day adjustment, and I'll be very happy.”
“Then I thought it would go higher, and I thought it would go higher, both gold and silver.”
Stewart Thomson, Chairman of Graceland Investment Management, analyzed that a good time has arrived for gold stocks.
He explained that mainstream analysts are getting more excited about gold, even when looking at daily and weekly price charts, gold is technically overbought.
“Most Wall Street analysts failed to predict the current rebound; are they wrong again, or will the price of gold continue to rise in an overbought state? Both the RSI and stochastic indicators are clearly overbought.”
“But if fundamentals are strong, gold can continue to rise for weeks, months, or even years while remaining technically overbought.”
“Currently, the two major drivers of gold are China and the 2021-2025 global war cycle.”
He further added: “Although Israeli and Iranian militants are unlikely to get out of control, their animosity and actions are enough to keep Western gold market analysts bullish.” #中东局势 #
“If the US Congress borrows more laws and uses them to prolong the proxy struggle against the Russian government, the US government's failed war in Ukraine could fall into an even greater quagmire.”
“Subsequently, the price of gold may begin to rise to $3,000.”
“The dollar is collapsing, and another fall is at least as likely as a technical rebound.”
“In past economic crashes, the dollar did not show any technical rebound after the initial crash; it will continue to fall into the abyss for months, and sometimes years.”
“There is a weak H&S top on the hourly price chart for gold ETFs, but unless the neck line is broken, gold, silver, and miners are likely to continue their upward frenzy.”
“Although a scale pullback seems increasingly unlikely, if it does happen, investors can make some aggressive purchases in the $2,200-$2050 area.”
“Western gold investors should ignore analysts, focus on Oriental Brothers' actions, and compete with them to sell as much gold as possible.”
“Gold and silver mining stocks will not enter the October market as in 2023, and are more likely to pull back, form the right shoulder of a large reverse H&S model, and then soar.”
“In summary, a good time has come for gold stocks, and there are probably more gold stocks to come.”