Gold Is Still Holding On

Barry Dawes of Martin Place Securities shares his thoughts on the current state of the gold market and where he believes it is headed.

Gold is still holding on, but sentiment is very poor.

Will it hold above US$2000 for another monthly close in February?



  • Another monthly close above US$2000 would be very positive
  • Market sentiment is very poor
  • Bulls giving up

Gold Stocks

  • XAU at a critical level
  • Gold stocks vs gold at major long-term support


  • US$ still holding on
  • Swiss Franc about to crack?


  • Yields still likely to head lower


  • S&P 500 overextended but not negative
  • Silver vs. S&P 500

Metals and Mining

  • Metals and Mining ETF is looking very positive

It seems the warmongers are thinking of heading into Ukraine and also using F15s to hit targets inside Russia.


But it could be the issue that sends gold through this consolidation phase and much higher.

The Euro, Pound, and Swiss France are teetering on technicals that might see sharp falls and might be suggesting Eurosuicide.

Gold is here, holding within a narrow range.

And this looks constructive.

Gold Stocks

The XAU here is at a critical level.

A very strong 2-month downtrend could be broken in the next couple of days.

And this is certainly at an extreme.

Hard to believe gold is near all-time highs, and the market sentiment is so poor.

ASX Gold Stocks

The XGD has broken the uptrend, but it is still filling out the RHS.

Gold in AU$ is still heading parabolically higher.

And in Yuan.


Swiss Franc looking to crack lower here.


Is it time now?


Yields heading lower.

Metals and Mining

Looking constructive.

Heed the markets, not the commentators.

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