Gold Death Cross

[errolanderson]

Gold’s recent price plunge has triggered a significant bearish signal called the ‘death cross’. The 50-day moving average has now broken below the 200-day moving average.

Support for April gold was around $1,775 per oz, (IMO) which broke tonite. This technical indicator indicates the potential for steeper losses and lower potential trading range.

Analysts are pointing rising government bond yields as a key factor pressuring gold. In my view, there are far deeper global economic reasons for gold’s setback. Realize the internet right now is totally hyped on inflation talk, but the bigger risk in my view is incoming deflation. Gold appears tied to the hip by the stock market and stimulus talk, which isn’t a stable ship (IMO) given failing velocity-of-money.

The death cross has quite the notorious history from pre-warning 1929 to 2008 stock market setbacks.

[CommonCents]

No need for precious metals as a hedge when we have these wonderful new crypto currencies to provide economic stability in today’s world. How do you compare the value of something tangible like a physical asset such as gold to a company such as Bitcoin?

[shtferbrains]

Grain to new gold?

Maybe that's what Chicom is doing?

[wheatking16]

Gold is a poor store of value and the world is waking up that fact.

It has little to no utility and requires trust for fungibility.

I have no interest in the time and expense required to authenticate it's purity and value.

People feel good holding until they need it and then it almost useless.

The gold shills happen to be the ones selling it or will gladly store it for you.

I believe it is a sentiment indicator and little more.

[SASKFARMER]

Gold vs made up. I'll stick with gold because if WW# happens and whoever is around after won't survive on a made-up currency.

[furrowtickler]

Need a time machine
Go back and buy all the dirt possible in 2003 ....
can’t eat gold lol .

[macdon02]

Gold down means USD up, and oddly enough there's a 15 month correlation on corn and gold. So whatever happened 15 months ago in gold, you can expect in corn. So if this death cross proves correct, might want to make some grain sales a year + from now. Gold also runs on a 16 week cycle so can expect a high, low or acceleration type event next week.

[jazz]

Need a time machine
Go back and buy all the dirt possible in 2003 ....
can’t eat gold lol .

I am afraid land trumps bitcoin and gold pretty easy. Isnt an asset class with as much utility and return if prices are decent. And it cant be manipulated by the banks and wall street or CBs.

[helmsdale]

[helmsdale]

Lumber futures. Fml... and I'm trying to get my shit together to build a house.