CNY-denominated gold will hit a new high in the future.
Only valid for Chinese people. If you want to keep your wealth. You need physical gold. I don't understand the macro economy. I think the trade war is long-term and he will exacerbate the devaluation of the renminbi. If you are a Chinese compatriot. I hope you are lucky.
Xaucnh
Gold expressed in Yuan: Trend is up in the quarterly timeframeBut due to retrace here likely...The retrace to come will be a great buying opportunity in Gold, the Yuan chart is an interesting way to look at it, given the activity of chinese capital flows. I'm following the Hong Kong activity closely, specially interesting to observe developments regarding the extradition laws in the former British colony. Recently, protesters dissuaded the government to move forward with this law, so for now, things didn't escalate, but I'm sure chinese money is likely to flow out of the country gradually, towards gold and possibly crypto, before things get harder for them to escape via HK.
Keep an eye on this chart, a retrace in it will bring a great trading opportunity, and it will likely occur once commercial gold traders approach net long or flat positioning once again.
See related ideas for more info.
Cheers,
Ivan Labrie.
Gold Harmonic based on U$D is fake harmonyAfter deep study looks like this oscillations in XAUUSD is based on XAUCNH , the gold based on the Chinese Renminbi Currency Offshore , SaxoBank advisors stated same. There is another resistance as shown , this is the base graph for harmony , rest is DXY based for what Trump tweets , obviously trade war not in favor of DXY , they have been long awaiting and appeared to be crashing , the confluence is "Scary Long" something like 1400 and it happened before in history in short time , Now notice also Gold is not long term safe heaven , BTCUSD is , so hot capital is going on daily level to BTCUSD in case of day crises , but big crash will go back to gold (Since US treasury yields are also crashing). 2019-H2 is correction half,
GOLD - Bullish wedge formingWE expect US dollar to fall and the bond market to be propped up to force money into stocks and push stocks higher
If gold falls --> Dollar go up --> the whole world falls in terms of fiat purchasing power --> Chaos
Will they kill paper gold once and for all and make the world's fiat burn?
Phenix rises?
Debt has risen since 2011 why has gold and silver gone down? Fundamentals --> The market will return to fair value and the % increase in gdp to debpt should correspond with increase in gold if when paper manipulation ends / gets overwhelmed
GOLD - 2008 support tested - COT -> BullRunWe have been wrong about how far they are willing to take the world down the shit hole once again just to surpress gold in $
Buyers should come in here
Hard to justify a sell
Crazy divergence daily RSI
US dollar craziness
10/30 spread craziness
Stock market will not make new gains if gold continues to fall either
They have to make up their minds now --> FED