{"id":16839,"date":"2018-08-17T06:44:11","date_gmt":"2018-08-17T06:44:11","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16839"},"modified":"2018-08-17T06:44:11","modified_gmt":"2018-08-17T06:44:11","slug":"gold-stocks-hammered","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/17\/gold-stocks-hammered\/","title":{"rendered":"Gold stocks hammered"},"content":{"rendered":"

China’s Yuan continues to fall.<\/p>\n

\"CNY\/USD\"<\/p>\n

Causing the US Dollar to strengthen. Dollar Index follow-through above resistance at 95 suggests further gains unless China intervenes to support the Yuan. Long-term target for the advance is 103.<\/p>\n

\"Dollar<\/p>\n

Gold plunged through support at $1200\/ounce. Expect a test of primary support at $1130 but the long-term target is the 2015 low of $1050\/ounce.<\/p>\n

\"Spot<\/p>\n

A Trend Index peak below zero warns of a strong decline on the Australian Dollar.<\/p>\n

\"Australian<\/p>\n

But Aussie weakness was not enough to shield local gold miners. The All Ordinaries Gold Index (XGD) broke support at 4900, offering a long-term target of 4100.<\/p>\n

\"All<\/p>\n

Local gold stocks are getting hammered, as I feared.<\/p>\n","protected":false},"excerpt":{"rendered":"

China’s Yuan continues to fall. Causing the US Dollar to strengthen. Dollar Index follow-through above resistance at 95 suggests further gains unless China intervenes to support the Yuan. Long-term target for the advance is 103. Gold plunged through support at $1200\/ounce. Expect a test of primary support at $1130 but the long-term target is the … <\/p>\n

Continue reading “Gold stocks hammered”<\/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":[39,42,9,35],"tags":[166,292,678,1073,3204],"class_list":["post-16839","post","type-post","status-publish","format-standard","hentry","category-aussie-dollar","category-chinese-yuan","category-gold-precious-metals","category-us-dollar-index","tag-all-ordinaries-gold-index","tag-australian-dollar","tag-chinese-yuan","tag-dollar-index","tag-spot-gold"],"yoast_head":"\nGold stocks hammered - 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 stocks hammered - the patient investor\" \/>\n<meta property=\"og:description\" content=\"China’s Yuan continues to fall. Causing the US Dollar to strengthen. Dollar Index follow-through above resistance at 95 suggests further gains unless China intervenes to support the Yuan. Long-term target for the advance is 103. Gold plunged through support at $1200\/ounce. 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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-4nB","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":16790,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/04\/dollar-strength-hurts-aussie-gold-stocks\/","url_meta":{"origin":16839,"position":0},"title":"Dollar strength hurts Aussie gold stocks","author":"Colin Twiggs","date":"August 4, 2018","format":false,"excerpt":"China's Yuan continues its steep descent against the US Dollar. The weakening Yuan strengthened demand for Dollars, with the Dollar Index breaking through strong resistance at 95. Expect retracement to test the new support level. Respect would confirm the long-term target at the 2016\/2017 highs of 103. The strong Dollar\u2026","rel":"","context":"In "Aussie dollar"","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":16839,"position":1},"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 "Aussie dollar"","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":16821,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/10\/no-silver-lining-for-gold-stocks\/","url_meta":{"origin":16839,"position":2},"title":"No Silver lining for Gold stocks","author":"Colin Twiggs","date":"August 10, 2018","format":false,"excerpt":"A long-term chart shows Silver broke support at $16\/ounce and is headed for a test of its 2015 low at $14. Silver is more volatile but often indicates, ahead of Gold, the direction of the two precious metals. At present that suggests Gold is likely to test its 2015 low\u2026","rel":"","context":"In "Aussie dollar"","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":16888,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/24\/support-for-the-yuan-lifts-gold\/","url_meta":{"origin":16839,"position":3},"title":"Support for the Yuan lifts Gold","author":"Colin Twiggs","date":"August 24, 2018","format":false,"excerpt":"China's PBOC stepped in with belated support for the Yuan, holding the line at 14.5 US cents. The Dollar retreated, with the Dollar Index testing support at 95. Respect of support would confirm another advance, with a long-term target of 103 \u2014 if central banks like the Fed and PBOC\u2026","rel":"","context":"In "Aussie dollar"","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":16524,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/06\/gold-dollar-and-the-yuan\/","url_meta":{"origin":16839,"position":4},"title":"Gold, Dollar and the Yuan","author":"Colin Twiggs","date":"July 6, 2018","format":false,"excerpt":"China's Yuan fell sharply over the last 3 weeks, with the threat of US trade tariffs. Risk of capital flight will force the PBOC to sell foreign reserves to support the Yuan. It took $1 trillion to stem the last fall, so expect a sizable sell-off in Chinese holdings of\u2026","rel":"","context":"In "Aussie dollar"","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":18849,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/10\/gold-correction-likely-as-yuan-finds-support\/","url_meta":{"origin":16839,"position":5},"title":"Gold: Correction likely as Yuan finds support","author":"Colin Twiggs","date":"September 10, 2019","format":false,"excerpt":"The Yuan found short-term support at 0.1395\/0.1400 against the US Dollar. Expect a rally over the next month, with \"talks about talks\" between US and Chinese trade representatives. The Yuan is in a long-term down-trend against the Dollar that shows no signs of easing. Our view is that resolution of\u2026","rel":"","context":"In "Aussie dollar"","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\/16839","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=16839"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16839\/revisions"}],"predecessor-version":[{"id":16840,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16839\/revisions\/16840"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}