A Gold Price Forecast For 2017 – Investing Haven what is the price of bitcoin

This gold price forecast analysis was written on october 3d last year, and was updated in december and in april 2017.

In the meantime investinghaven published a gold price forecast 2018.

Gold was hot in the first 6 months of this year. Hardly anyone predicted the monster rally we saw in 2016. And, as it always goes, right at a time that everyone got overly excited, gold prices stalled and did go nowhere since then. Consequently, around summer time, there was a consensus around a bullish gold price forecast for 2017.

The excitement around the summer of this year was striking, as suggested by the non-stop bullish media coverage. We highlight a couple of the articles that appeared right at a time when the price of gold was in the process of peaking:

• credit suisse sees $1,500/oz gold by early 2017 published by kitco on june 30

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• RBC calling for $1,500 gold for 2017, 2018 published by kitco on july 15

• is gold set to hit $1,500 per ounce? Published by forbes on july 21

• gold bull mcewen sees prices as high as $1,900 by end of year by bloomberg on september 20

As always, we prefer to stick to the facts which we derive from chart developments as well as sentiment analysis and intermarket dynamics. We see a concerning trend developing on the gold chart. The green circles on below chart highlight the rare periods of price stabilization. Gold is a volatile asset, so it does not happen often that prices stabilize. In december of 2015, the price of gold stabilized which was an indicator that a reversal was brewing. Right now, we see the same happening. Both happened right a major support and resistance. If you are interested in short-term gold trading, read the following analysis for some perspective and unexpected tips.What is the price of bitcoin today how to determine a gold price forecast for 2017

Price analysis suggest that the gold price forecast for 2017 is bearish.

Our expectation is much closer to what this article said in may I see gold correction in 2017. Hence, it is not as bullish as the articles highlighted above.

Where do we see the price of gold going in 2017? We start sensing that gold will continue to as a “fear asset” in 2017. Given that stock markets, which we consider an important risk indicator, are becoming very bullish, as suggested in” SP 500 suggests much higher prices coming in 2016 and 2017″, gold could take a hit as fear is moving away from markets. In the early days of 2016, markets were driven by fear, which is the reason gold rallied so strongly, but that has changed recently.

With that in mind, we see gold moving towards the lower area of its bearish trend channel.What is the price of bitcoin today right now, support comes in around 990 USD. By the second half of 2017, that will be around 890 USD, which is exactly the peak of 1980.

In other words, we do not exclude the scenario in which the gold price will hit 890 USD in 2017 after which it will turn around and evolve into a new and strong bull market.

I call these kind of articles “attention seeking” at best. Lowest gold was of late $1050 in december 2015. Impossible to go lower since cost of extraction, refinement and marketing costs approximately (and historically) $1100 an ounce and rising due to cost increases due to normal factors associated with mining. Any lower and it causes mines to slow production and store metal thus artificially keeping the price up regardless of how much paper is dumped to suppress the price and keep the DOW propped up.What is the price of bitcoin today even at $1050 we saw high premiums for physical as dealers couldn’t get stock. This 300-1 paper fraud with no way to deliver physical metal needs to stop. The only way gold can go to $890 is if the issuing banks keep dumping fraudulent paper gold contracts onto the market. The only way to put this paper gold fraud to bed is for purchasers of the contracts to ask for delivery. This would mean issuing banks would need to dip into the physical market or repurchase contracts at a negotiated loss. But, we’ll see. Any price lower than $1000 an ounce I say buy it all…

Against the usd gold will get hammered against all other major currencies it will appreciate. However given the state of EU banks the sterling looks like it will be a winner this year (brexit was the smartest thing britain could have done, they left a massive collateralized debt obligation we call the EU) .What is the price of bitcoin today also if sterling falls dollar rises. Soooo

Let me run you through the state of the world… I was going to keep this short but I feel there are a lot of people who understand only one variable in a multi variable function. Gold is a store of value and moves based on the world’s ability to buy goods. If it’s easy to buy stuff, gold falls if it’s hard to buy stuff it rises … pretty simple. Now for our multi variable function…. As of the recession of ’08 many countries/companies especially EM countries, loaded up on interest rate swaps , ( sweet deal at the time , dollar was low, rates were extremely low , and the outlook for the USD was garbage) fast forward , these instruments .. The majority of which are payable in USD are under water , and no longer a good deal for those holding them , waiting longer as their countries lower interest rates to support exports in a falling commodity market exacerbates the spread in losses that need to be financed.What is the price of bitcoin today so to close them out (which requires USD, drives up the USD, again hammering gold in terms of the dollar, now another company or country that holds these swaps that wasn’t under water will be under water , rinse and repeat… as this happens commodities which are denominated in USD and in USD only will get more and more expensive , driving down the price of them because less can be bought dollar for(insert currency here) … summary contagion… this will continue. Combine that with EU banking crisis risk and demand for dollars surges, ,couple that with a high demand in USD assets since every other country in the world is shitting on their currency and there is a flight to safety to preserve their value, this is why you have seen a boom in property prices (and non dollar denominated gold ).. Until something gives , be it war, massive inflation globally ( trade agreements anyone??What is the price of bitcoin today lol) or the redefinition of capital… but until a basket of goods represents purchasing power of the global economy gold will get creamed relative to the dollar. Theeeen once all the gold bugs are shaken out this year , gold along with every other commodity will run up in one of the longest commodity bull markets ever … I don’t ever really comment on any blogs because sharing your brain takes some premium out of your trades , however hearing a lot of under-educated commentary and feel bad for the owner of the blog . So long term , yeah , gold and all commodities will go high and then higher.. Ohh did I mention USD raising rates in march as well? … lol as for the fraudulent gold contracts .. Yes notional massively outweighs physical… but it does so in every commodity on the planet … yeah one day golds number will be called..What is the price of bitcoin today then gold will go past 10k … if u have a long investment horizon park it and go . If not then read the above over and over