IGWT 4 – Gold’s Technicals Looking Good

Posted | 16/04/2019 / Views | 2299
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Over the last few days we have looked at a few of the tailwinds for gold looking forward from the In Gold We Trust preview.  Today we pass on their assessment of the status quo for gold; where we are at now.

The table below shows gold’s performance over this century in a host of different currencies.  As they say:

“The average annual performance from 2001 to 2019 has been +9.1%. During this period gold has outperformed practically every other asset class, and in particular every currency, despite intermittent, sometimes substantial corrections.”

IGWT 4 – Gold’s Technicals Looking Good

They then present a couple of bullish technical charts for where we are now:

IGWT 4 – Gold’s Technicals Looking Good

Combined with the ultimate contrarian indicator….

IGWT 4 – Gold’s Technicals Looking Good

And historical seasonality indicating we have better times ahead:

IGWT 4 – Gold’s Technicals Looking Good

And finally, measured against the S&P500, gold is looking poised for good things:

“We consider the bull market in equities as the biggest opportunity cost for gold. Comparing the gold price to S&P 500 development, we can see that the relative performance of gold vs. the S&P 500 is bottoming.  After seven years of underperformance of gold vis-à-vis the broad equity market, the tables might soon be turning in favour of gold.”

IGWT 4 – Gold’s Technicals Looking Good

 

AU / US
0.6893
Gold
oz
SPOT $US
1557.28
AUS BUY
SPOT $US
50.74
AUS SELL
SPOT $US
49.39
Silver
oz
SPOT $US
18.07
AGS BUY
SPOT $US
0.61
AGS SELL
SPOT $US
0.57
Platinum
oz
SPOT $US
1030.1
Gold:Silver Ratio
86.19
Bitcoin
SPOT $US
8831.05
Ethereum
SPOT $US
166.26
Stellar
SPOT $US
0.0568
Litecoin
SPOT $US
58.73
Cardano
SPOT $US
0.0427
Ripple
SPOT $US
0.2317
Tron
SPOT $US
0.0172
BCHABC
SPOT $US
336.33
IOTA
SPOT $US
0.2319
EOS
SPOT $US
3.7903