{"id":19385,"date":"2019-11-09T07:23:38","date_gmt":"2019-11-09T07:23:38","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19385"},"modified":"2019-11-09T07:23:38","modified_gmt":"2019-11-09T07:23:38","slug":"gold-plunges","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/09\/gold-plunges\/","title":{"rendered":"Gold plunges"},"content":{"rendered":"

Gold broke support at $1490\/ounce, the base of a bearish descending triangle<\/a>. A sharp drop on the Trend Index warns of strong selling pressure. Respect of secondary support at $1350 would signal that the primary up-trend is intact, while a test of primary support at $1270 would warn of trend weakness.<\/p>\n

\"Gold<\/p>\n

Silver similarly broke support at $17.50\/ounce, with an even steeper fall on the Trend Index warning of a strong decline, confirming the Gold signal.<\/p>\n

\"Silver<\/p>\n

The cause of the sharp fall is clear: long-term Treasury yields are rising, increasing the opportunity cost of holding Gold. 10-Year Treasury yield breakout above 2.0% would warn of an up-trend, with an initial target of 2.50%.<\/p>\n

\"10-Year<\/p>\n

The All Ordinaries Gold Index continues its downward trend channel, towards secondary support at 6000. Declining Trend Index peaks again warn of selling pressure. Respect of 6000 would signal that the primary up-trend is intact, while a test of primary support at 5400 would again warn of trend weakness.<\/p>\n

\"All<\/p>\n

Patience is required<\/h3>\n

Gold is in a long-term up-trend and a correction may offer an attractive entry point. But we first need to confirm that the up-trend is intact before increasing exposure to gold stocks.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold broke support at $1490\/ounce, the base of a bearish descending triangle. A sharp drop on the Trend Index warns of strong selling pressure. Respect of secondary support at $1350 would signal that the primary up-trend is intact, while a test of primary support at $1270 would warn of trend weakness. Silver similarly broke support … <\/p>\n

Continue reading “Gold plunges”<\/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":[40,31,9],"tags":[70,166,3204,3206],"class_list":["post-19385","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","category-gold-precious-metals","tag-10-year-treasury-yields","tag-all-ordinaries-gold-index","tag-spot-gold","tag-spot-silver"],"yoast_head":"\nGold plunges - 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 plunges - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Gold broke support at $1490\/ounce, the base of a bearish descending triangle. A sharp drop on the Trend Index warns of strong selling pressure. Respect of secondary support at $1350 would signal that the primary up-trend is intact, while a test of primary support at $1270 would warn of trend weakness. 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Breakout above 2.0% would strengthen the signal. Higher long-term rates would increase the opportunity cost of holding Gold, reducing demand. China's Yuan penetrated its descending trendline against the Dollar. Similarities\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18144,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/03\/gold-and-silver-break-support\/","url_meta":{"origin":19385,"position":1},"title":"Gold and Silver break support","author":"Colin Twiggs","date":"May 3, 2019","format":false,"excerpt":"The Dollar index retracement respected support at 97.50, confirming the advance. Follow-through above 98.00 would further strengthen the signal. Target for the advance is 100. 10-Year Treasury yields penetrated the descending trendline, signaling that a base is forming around 2.50%. Rising troughs on the Trend Index also indicate support. Higher\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25325,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/04\/17\/gold-rallies-as-treasury-yields-fall\/","url_meta":{"origin":19385,"position":2},"title":"Gold rallies as Treasury yields fall","author":"Colin Twiggs","date":"April 17, 2021","format":false,"excerpt":"Spot Gold broke resistance at $1750\/ounce completing a small double bottom reversal with a target of $1825. Breakout above the trend channel would signal that a bottom is forming. But expect retracement to first test support at $1750. The rally is driven by falling Treasury yields, with the 10-year TIPS\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19828,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/gold-buy-the-dip\/","url_meta":{"origin":19385,"position":3},"title":"Gold: Buy the dip","author":"Colin Twiggs","date":"February 28, 2020","format":false,"excerpt":"10-Year US Treasury yields broke long-term (LT) support to close at a record low of 1.29%. The chart below compares long-term yields (blue) to the gold price (yellow), both adjusted for inflation. Over the last fifty years, whenever real yields dip \u2014 as they did in 1973-75, 1978-80, 2002-05, 2007-08,\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":19817,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/22\/gold-soars-as-treasury-yields-fall\/","url_meta":{"origin":19385,"position":4},"title":"Gold soars as Treasury yields fall","author":"Colin Twiggs","date":"February 22, 2020","format":false,"excerpt":"10-Year US Treasury yields broke long-term support at 1.50%, warning of another test of record 2016 lows at 1.33%. The yield curve can be expected to invert any day now, with the 10-year\/3-month differential headed for zero. The Dollar Index is testing resistance at 100. Breakout would signal a long-term\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56203,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/08\/02\/plunging-treasury-yields-lift-gold-but-stocks-fall\/","url_meta":{"origin":19385,"position":5},"title":"Plunging Treasury yields lift gold but stocks fall","author":"Colin Twiggs","date":"August 2, 2024","format":false,"excerpt":"Ten-year Treasury yields broke support at 4.0%, plunging in anticipation of Fed rate cuts in September. Expect retracement to test resistance at 4.0% but respect is likely to confirm our medium-term target of 3.8%. Stocks Falling yields failed to lift stocks, with the S&P 500 testing support at 5400. Declining\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"10-Year Treasury Yield","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-08-01-tnx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-08-01-tnx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-08-01-tnx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19385","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=19385"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19385\/revisions"}],"predecessor-version":[{"id":19386,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19385\/revisions\/19386"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}