Here Comes the Gold

To the melody of Here comes the Sun by the Beatles, originally written by George Harrison:

Here Comes the Gold

Here comes the gold (doo doo doo)
Here comes the gold, and I say
It’s all right

Dear investors, it’s been a fun bull run in 19
Dear investors, it feels like years since Gold’s been here

Here comes the gold (doo doo doo)
Here comes the gold, and I say
It’s all right?

Dear gold bugs, the smiles returning to the faces
Dear gold, it seems like years since it’s been here

Here comes the gold
Here comes the gold, and I say
It’s all right

Gold, gold, gold, here it comes
Gold, gold, gold, here it comes
Gold, gold, gold, here it comes
Gold, gold, gold, here it comes
Gold, gold, gold, here it comes

Dear investor’s, I feel that markets are slowly melting
Dear Gold bugs, it seems like years since it’s been clear
Here comes the gold
Here comes the gold, and I say
It’s all right

Here comes the gold (doo doo doo)
Here comes the gold
It’s all right
It’s all right

We at Minter have been positive to gold for quite some time, and have been waiting for some kind of sign that prices could break the range of $1275 to $1310.  The break out has arrived it appears.

The questions for us are: is this move a function of seasonal factors, supply factors and positioning? Or is it a move based on investors and traders allocating to gold based on a weaker USD, dovish central banks globally, high levels of debt political uncertainty, global growth slowdown, fear of inflation down the road and recent equity weakness.  We will watch closely to see if this is just a test of the key resistance level $1350/$1365. A break could open up for a significant move higher.  If we get clarity on the global trade situation this may take the some of shine off gold.

XAUUSD = Gold vs. US Dollar
Initial Margin 5,00%, Maintenance Margin 2,50%, Minimum Trade Size 1.00 XAU
Supported Order Types: Market, Limit, Stop, Trailing Stop, Stop Limit

S&P tested key support at 2720 level and has bounced through the key 2800 level.  We were looking for a bounce on Monday and think there may be a bit more in it.  Resistance at 2825.

Contact us if you are interested in receiving real time trading signals. In doubt? Check out our track record below!

TickerDate OpenedEntry PriceStopTarget PriceCurrent Price% Change

Visit our Position Tracker to look at all of our realized trades and proven track record!

– Mark W

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