{"id":16697,"date":"2018-07-19T04:46:37","date_gmt":"2018-07-19T04:46:37","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16697"},"modified":"2018-07-19T04:46:37","modified_gmt":"2018-07-19T04:46:37","slug":"gold-breaks-support-5","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/","title":{"rendered":"Gold breaks support"},"content":{"rendered":"<p>The Dollar price of gold has broken support at $1240\/ounce, signaling a primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-gold.png?w=525&#038;ssl=1\" alt=\"Spot Gold in USD\" \/><\/p>\n<p>The Dollar Index continues to test resistance, consolidating in a narrow band below 95, a bullish sign. Chinese selling of the Dollar, to support the Yuan, has not materialized in sufficient magnitude to reverse Dollar strength. Breakout above 95 would spur selling of gold.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-dxy.png?w=525&#038;ssl=1\" alt=\"Dollar Index\" \/><\/p>\n<p>The Australian Dollar has not weakened sufficiently to protect local gold miners. The All Ordinaries Gold Index (XGD) is heading for a test of support at 4900\/4950. Given the circumstances, support is unlikely to hold. Expect a test of 4600.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-19-xgd.png?w=525&#038;ssl=1\" alt=\"All Ordinaries Gold Index\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dollar price of gold has broken support at $1240\/ounce, signaling a primary down-trend. The Dollar Index continues to test resistance, consolidating in a narrow band below 95, a bullish sign. Chinese selling of the Dollar, to support the Yuan, has not materialized in sufficient magnitude to reverse Dollar strength. Breakout above 95 would spur &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold breaks support&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,41,9,34,35],"tags":[166,1073,3204],"class_list":["post-16697","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-china-hk","category-gold-precious-metals","category-us-canada-countries-regions","category-us-dollar-index","tag-all-ordinaries-gold-index","tag-dollar-index","tag-spot-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold breaks support - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold breaks support - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The Dollar price of gold has broken support at $1240\/ounce, signaling a primary down-trend. The Dollar Index continues to test resistance, consolidating in a narrow band below 95, a bullish sign. Chinese selling of the Dollar, to support the Yuan, has not materialized in sufficient magnitude to reverse Dollar strength. Breakout above 95 would spur &hellip; Continue reading &quot;Gold breaks support&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-19T04:46:37+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-07-19-gold.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Gold breaks support\",\"datePublished\":\"2018-07-19T04:46:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/\"},\"wordCount\":97,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-19-gold.png\",\"keywords\":[\"All Ordinaries Gold Index\",\"Dollar Index\",\"Spot Gold\"],\"articleSection\":[\"Australia &amp; NZ\",\"China &amp; HK\",\"Gold &amp; Precious Metals\",\"US &amp; Canada\",\"US Dollar Index\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/\",\"name\":\"Gold breaks support - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-19-gold.png\",\"datePublished\":\"2018-07-19T04:46:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-19-gold.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-07-19-gold.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/19\/gold-breaks-support-5\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold breaks support\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4lj","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":16712,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/21\/gold-breaches-primary-support\/","url_meta":{"origin":16697,"position":0},"title":"Gold breaches primary support","author":"Colin Twiggs","date":"July 21, 2018","format":false,"excerpt":"The Dollar price of gold breached support at $1240\/ounce, signaling a primary down-trend. A long tail indicates active buyers and we can expect retracement to test the new resistance level at $1250. The Dollar Index continues to test strong resistance at 95. But Chinese selling to support the Yuan has\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17057,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/15\/silver-warns-of-further-gold-weakness\/","url_meta":{"origin":16697,"position":1},"title":"Silver warns of further Gold weakness","author":"Colin Twiggs","date":"September 15, 2018","format":false,"excerpt":"Precious metals tend to trend or consolidate together, driven by similar investor motives. Spot silver is testing primary support at $14 per ounce, while a Trend Index peak at zero warns of selling pressure. Breach of support would signal a primary down-trend. Gold is still testing support at $1200\/ounce but\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16361,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/aussie-gold-stocks-rally-as-the-greenback-strengthens\/","url_meta":{"origin":16697,"position":2},"title":"Aussie gold stocks rally as the greenback strengthens","author":"Colin Twiggs","date":"June 16, 2018","format":false,"excerpt":"The Dollar Index rallied to test resistance at 95 in response to the latest Fed rate hike. Short retracement is a bullish sign. Spot Gold retreated to $1280\/ounce. Penetration of the rising trendline warns of a correction to test primary support at $1250. A Trend Index peak below zero warns\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17012,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/07\/gold-stocks-face-selling-pressure-despite-plunging-aussie-dollar\/","url_meta":{"origin":16697,"position":3},"title":"Gold stocks face selling pressure despite plunging Aussie Dollar","author":"Colin Twiggs","date":"September 7, 2018","format":false,"excerpt":"The Yuan continues to test support at 14.5 US cents. The Dollar Index recovered above support at 95. Respect of support would confirm another advance, with a long-term target of 103, but bearish divergence on the Trend Index still warns of selling pressure. Gold is testing resistance at $1200\/ounce but\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16365,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/23\/gold-weakens-as-dollar-dominates\/","url_meta":{"origin":16697,"position":4},"title":"Gold weakens as Dollar dominates","author":"Colin Twiggs","date":"June 23, 2018","format":false,"excerpt":"The Dollar Index continues to test resistance at 95. Mohammed El-Erian believes the Dollar is underpriced: \"...the dollar index is now at a 2018 high and, IMO, markets as a whole are yet to price fully the growth and policy differentials that favor the US over many other countries.\" Expect\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16293,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/gold-stocks-retreat\/","url_meta":{"origin":16697,"position":5},"title":"Gold stocks retreat","author":"Colin Twiggs","date":"May 18, 2018","format":false,"excerpt":"The Dollar rally continues, with the Dollar Index heading for a test of resistance at 95. Penetration of the long-term descending trendline suggests that a bottom is forming. Bullish divergence on the Trend Index indicates buying pressure. But rising crude prices still threaten to weaken the Dollar. Spot Gold broke\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16697"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16697\/revisions"}],"predecessor-version":[{"id":16698,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16697\/revisions\/16698"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}