Iran War and the Impact on Oil

[timsk]

. . .The time will come when gold will rebound strongly: use your favourite TA techniques and indicators to inform you when the down trend has halted and go long. Gold will rise strongly because it always does following an oil crisis. . .

I'm gonna make the call here and say go long gold. Last week's price action produced an impressive 'pin bar', indicating a lot of buying coming into the market to support price. Is Monday's low set in stone never to be breached? No, absolutely not. But the pattern of gold price falling when Brent Crude rises has been broken, evidenced by both rising very strongly on Friday. As with oil, this is a swing or position trade to last weeks or even months. So, I suggest small size with wide stops: try to enter around £3,400. A number of merchant banks have 2026 year end forecasts of $6,000+ for gold, and UBS has an upside of £7,200. And those were made before the outbreak of the Iran war. Weekly chart for gold, below.

 

[timsk]

Below is a YouTube vid' from 'Bald Guy Money' in which he talks about the decoupling of precious metals from stocks and oil and gives his forecasts for possible future gold and silver prices. Pure speculation on his part of course, but the funnymentals - along with his logic - form a cohesive argument and offer good reasons to be very bullish about gold and silver. Enjoy . . .