Gold Sending Differing Short Term Signals

#gold #silver

Most individuals “stacking” #gold and #silver are not unduly concerned about short term market signals as their underlying holdings tend to stay in place for years at a time. At times, however, re-entry into the market for buying or selling is necessary.

Presently #gold is sending conflicting signals which I believe is primarily related to the Middle East crisis - will the truce hold or not? I do not intend to enter into any discussion on the Israel/Iran situation except to say any war is a sad situation for most people in the affected area whether you are called to fight or not. Personally, I pray that all people in the region may be able to return to a peaceful and safe life.

Turning back to #gold it is presently indicating a continued upward trend; however, in the immediate term I expect it to make a lower top than that achieved on 17 Jun 25 - if the present ME ceasefire holds. This could open up buying opportunities at a low of USD 3,250 (plus commissions) per t/oz before the end of June 25. Australian buyers continue to deal with FOREX issues but could see buying as low as spot AUD 5,000 to 5,050 (plus commissions).

Sitting in the background is the risk of the ME ceasefire failing which will see an immediate turn around of gold to the up side.

Daily Gann Swing below.