Categories: Financial NewsMetals

Gold Stocks vs. AU$ Gold Ready To Break 16 Year Downtrend

October 11, 2023

Source: Barry Dawes  (10/9/23)

Barry Dawes of Martin Place Securities shares a quick update on the current state of gold. 

  • Gold higher
  • Gold Index higher
  • Gold stocks vs AU$ Gold ready to break 16 year downtrend

ASX Gold Stocks

Technically magnificent!

  • Backtest on downtrend line
  • Flag formation set
  • Huge volume
  • Probable Right Hand Shoulder

Lots of green today.


Free Reports:

Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





And more to come throughout the week.

About to break much higher vs. AU$gold

16-year downtrend — about to be broken.

Head the markets.

 

Important Disclosures:

  1. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  2. This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

For additional disclosures, please click here.

InvestMacro

Share
Published by
InvestMacro

Recent Posts

Oil prices fall back to pre‑war levels. Silver drops to a 7‑month low

By JustMarkets  On Wednesday, the US stock indices closed mixed as caution persisted in the…

16 hours ago

Gold Falls to an Eight-Month Low: This May Not Be the Bottom

By RoboForex Analytical Department Gold stabilised near 4,000 USD per troy ounce on Thursday but…

16 hours ago

How local communities are challenging Big Tech data centers’ noise, pollution and rising electricity bills

By Rachel Mural, Harvard Kennedy School  As the race to build data centers across the…

21 hours ago

Quantum sensors could spot hidden damage in the thousands of US bridges rated ‘structurally deficient’

By Alex Krasnok, Florida International University  Every bridge has parts that drivers never see: steel…

2 days ago

How everyone pays the cost for patents on seeds, and private companies get rich from keeping them secret

By Julie Dawson, University of Wisconsin-Madison; Kiki Hubbard, University of Wisconsin-Madison, and Paulina Jenney, University…

2 days ago

Stock indices came under heavy selling pressure amid growing skepticism about AI investments

By JustMarkets  On Tuesday, the US stock indices closed sharply lower due to a large‑scale…

2 days ago

This website uses cookies.