{"id":18717,"date":"2019-08-17T04:01:10","date_gmt":"2019-08-17T04:01:10","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=18717"},"modified":"2019-08-17T04:01:10","modified_gmt":"2019-08-17T04:01:10","slug":"gold-pauses-after-recent-surge","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/17\/gold-pauses-after-recent-surge\/","title":{"rendered":"Gold pauses after recent surge"},"content":{"rendered":"<p>China&#8217;s Yuan has paused after breaking above 7.0 to the US Dollar. Expect further consolidation, but respect of support at 7.0 would signal a further advance (and Yuan weakness), fueling demand for Gold.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-08-16-cny.png?w=525&#038;ssl=1\" alt=\"USDCNY\" \/><\/p>\n<p>Spot Gold is consolidating above $1500\/ounce. Respect of support at $1500 would likewise suggest further gains. The Trend Index trough above zero indicates strong buying pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-08-16-gold.png?w=525&#038;ssl=1\" alt=\"Spot Gold in USD\" \/><\/p>\n<p>The trouble with an accelerating up-trend (or <em>blowoff<\/em> as they are often called) is that they seldom give you adequate warning of a reversal. The All Ordinaries Gold Index retreated this week and is testing its rising trendline at 8000. Breach of 8000 seems unlikely but would warn of a correction.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-08-16-xgd.png?w=525&#038;ssl=1\" alt=\"All Ordinaries Gold Index\" \/><\/p>\n<p>We maintain our bullish outlook for Gold, with a target of the 2012 high at $1800\/ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Yuan has paused after breaking above 7.0 to the US Dollar. Expect further consolidation, but respect of support at 7.0 would signal a further advance (and Yuan weakness), fueling demand for Gold. Spot Gold is consolidating above $1500\/ounce. Respect of support at $1500 would likewise suggest further gains. The Trend Index trough above zero &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/17\/gold-pauses-after-recent-surge\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold pauses after recent surge&#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":[42,9],"tags":[166,678,4091,3204],"class_list":["post-18717","post","type-post","status-publish","format-standard","hentry","category-chinese-yuan","category-gold-precious-metals","tag-all-ordinaries-gold-index","tag-chinese-yuan","tag-cnyusd","tag-spot-gold"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold pauses after recent surge - 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 pauses after recent surge - the patient investor\" \/>\n<meta property=\"og:description\" content=\"China&#8217;s Yuan has paused after breaking above 7.0 to the US Dollar. Expect further consolidation, but respect of support at 7.0 would signal a further advance (and Yuan weakness), fueling demand for Gold. Spot Gold is consolidating above $1500\/ounce. Respect of support at $1500 would likewise suggest further gains. The Trend Index trough above zero &hellip; Continue reading &quot;Gold pauses after recent surge&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/17\/gold-pauses-after-recent-surge\/\" \/>\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=\"2019-08-17T04:01:10+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-08-16-cny.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\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Gold pauses after recent surge\",\"datePublished\":\"2019-08-17T04:01:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/\"},\"wordCount\":125,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-08-16-cny.png\",\"keywords\":[\"All Ordinaries Gold Index\",\"Chinese Yuan\",\"CNYUSD\",\"Spot Gold\"],\"articleSection\":[\"Chinese Yuan\",\"Gold &amp; Precious Metals\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/\",\"name\":\"Gold pauses after recent surge - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-08-16-cny.png\",\"datePublished\":\"2019-08-17T04:01:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-08-16-cny.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-08-16-cny.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/08\\\/17\\\/gold-pauses-after-recent-surge\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold pauses after recent surge\"}]},{\"@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. 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\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold pauses after recent surge - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Gold pauses after recent surge - the patient investor","og_description":"China&#8217;s Yuan has paused after breaking above 7.0 to the US Dollar. Expect further consolidation, but respect of support at 7.0 would signal a further advance (and Yuan weakness), fueling demand for Gold. Spot Gold is consolidating above $1500\/ounce. Respect of support at $1500 would likewise suggest further gains. 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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-4RT","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":18746,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/24\/falling-yuan-bullish-for-gold\/","url_meta":{"origin":18717,"position":0},"title":"Falling Yuan bullish for Gold","author":"Colin Twiggs","date":"August 24, 2019","format":false,"excerpt":"China's Yuan continued its plunge against the US Dollar after the latest Trump tariff tantrum. The trade war is hotting up and we can expect further Yuan weakness, fueling demand for Gold. Spot Gold consolidation above $1500\/ounce is a bullish sign, while a Trend Index trough above zero indicates strong\u2026","rel":"","context":"In &quot;Chinese Yuan&quot;","block_context":{"text":"Chinese Yuan","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/chinese-yuan\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21338,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/08\/29\/gold-silver-pennants\/","url_meta":{"origin":18717,"position":1},"title":"Gold &#038; Silver pennants","author":"Colin Twiggs","date":"August 29, 2020","format":false,"excerpt":"Support at $1900\/ounce is holding and Gold has formed a pennant over the last three weeks, signaling continuation of the up-trend. Rising Trend Index troughs, high above zero, indicate strong buying pressure. Our long-term target is $2750 per ounce (1900-1050). Silver formed a similar pennant, with rising Trend Index troughs\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":18774,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/27\/gold-consolidates-as-the-yuan-plunge-continues\/","url_meta":{"origin":18717,"position":2},"title":"Gold consolidates as the Yuan plunge continues","author":"Colin Twiggs","date":"August 27, 2019","format":false,"excerpt":"The Yuan's plunge against the US Dollar is accelerating, with a short-term target of 0.1380. This is likely to elicit more tariff threats from the US -- China has already been labeled a currency manipulator -- as the trade war spirals out of control. There is no resolution in sight.\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":18631,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/08\/10\/gold-spikes\/","url_meta":{"origin":18717,"position":3},"title":"Gold spikes as Yuan falls","author":"Colin Twiggs","date":"August 10, 2019","format":false,"excerpt":"China has broken its unwritten guarantee that the PBOC will maintain the Yuan below 7 to the US Dollar. Official fixings for USDCNY crept above 7.0 this week, indicating the PBOC is no longer prepared to support its currency. This is a two-edged sword. While it makes exports cheaper, counteracting\u2026","rel":"","context":"In &quot;Chinese Yuan&quot;","block_context":{"text":"Chinese Yuan","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/chinese-yuan\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22646,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/14\/gold-put-to-the-test\/","url_meta":{"origin":18717,"position":4},"title":"Gold put to the test","author":"Colin Twiggs","date":"November 14, 2020","format":false,"excerpt":"10-Year Treasury Yields retreated to 0.89%, below resistance at 0.90%. Follow-through below 0.75% would warn of another test of primary support at 0.50%. Breakout above 1.00% is now less likely but would complete a broad double-bottom, offering a target of 1.50%. The 10-year TIPS yield edged upwards to -0.83% on\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":16761,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/27\/falling-yuan-strengthens-the-dollar-but-weakens-gold\/","url_meta":{"origin":18717,"position":5},"title":"Falling Yuan strengthens the Dollar but weakens Gold","author":"Colin Twiggs","date":"July 27, 2018","format":false,"excerpt":"China failed to intervene in the past few weeks,\u00a0allowing the Yuan to fall to offset the impact of tariffs instead of selling foreign reserves to support the currency. Their actions risk further retaliation by the Trump administration and could spark a full-blown trade war. A weakening Yuan is likely to\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18717","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=18717"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18717\/revisions"}],"predecessor-version":[{"id":18718,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18717\/revisions\/18718"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=18717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=18717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=18717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}