Mark Pey

November 26, 2020

Gold Market Update

Gold prices retreated to the levels of 4 months ago as traders booked profits amid early optimism about Covid vaccines and economic recovery. Traditional gold buying across Asia and jewellery demand has been subdued this year due to lockdowns, and many traders are calling for prices to re-ignite as economic activity in those areas rebounds. Many traders also found optimism in a number of lower court decisions related to the U.S. presidential election, while others noted that U.S. Supreme Court challenges to the integrity of the election were still a strong possibility given the ongoing controversies about how the election was conducted. With the recent price declines, gold is touching a key level known as the “200-Day Moving Average”. Technical analysts noted that a similar level hit in March of this year led to a strong price rally.

Gold Price This Month in AUD/OZ

SendGold Viewpoints

Things that make you go hmmm…about crypto-currencies This week in our blog, we comment on some of the recent developments in the cryptocurrency market. We try to dig behind the headlines in order to give our customers some additional information about speculation in this arena. Things that make you go hmmm…about crypto-currencies

Gold and SendGold in the News

Here are a few articles trending on the subject of gold and SendGold. Goldman Sachs expects gold to break out of its narrow trading range and soar through 2021 as the coronavirus recession gives way to higher inflation. Goldman also expects demand for gold to strengthen across emerging markets, with Chinese and Indian gold demand "already displaying signs of normalization": https://markets.businessinsider.com/commodities/news/gold-price-market-rally-hedge-inflation-rates-recovery-goldman-sachs-2020-11-1029812577  ANZ Bank said that ongoing support from central banks will ensure the rise of regulator-backed digital currencies won’t dull demand for gold. “Certainly on our forecasts for the US dollar, inflation and bond yields, it looks like gold still has plenty of upside”: https://institutional.anz.com/insight-and-research/Nov-20/digital-currencies-won-t-dull-gold#.X67xglg-GSA.linkedin Citibank predicted a gold price of $2500 in 2021, as analysts on CNBC’s Trading Nation said “the weekly trend still looks quite bullish, and one would want to really buy into any sort of pullback we see over the next month”: https://www.cnbc.com/2020/11/20/gold-prices-are-closing-in-on-buy-range-charts-suggest.html SendGold co-founders Jodi Stanton and Mark Pey are presenting a SendGold update for gold and fintech company investors at the Gold and Alternative Investments Conference. Other speakers include Jim Rickards and Rick Rule. The GAIC Virtual Gold Conference is being held online from 9.30 AM to 5.30 PM on Thursday 26th November, 2020, AEST and registration is free: https://goldevents.com.au/

SendGold Handy Hints

Get 2% top-up on your gold!! SendGold is offering a Black Friday offer for a gold bonus up to A$250. More details here: https://www.sendgold.com/top-up-30-november/ Don't miss out! Remember, we are here to answer any questions. Just email us on customerteam@sendgold.com.


Mark Pey

November 26, 2020

Gold Market Update

Gold prices retreated to the levels of 4 months ago as traders booked profits amid early optimism about Covid vaccines and economic recovery. Traditional gold buying across Asia and jewellery demand has been subdued this year due to lockdowns, and many traders are calling for prices to re-ignite as economic activity in those areas rebounds. Many traders also found optimism in a number of lower court decisions related to the U.S. presidential election, while others noted that U.S. Supreme Court challenges to the integrity of the election were still a strong possibility given the ongoing controversies about how the election was conducted. With the recent price declines, gold is touching a key level known as the “200-Day Moving Average”. Technical analysts noted that a similar level hit in March of this year led to a strong price rally.

Gold Price This Month in AUD/OZ

SendGold Viewpoints

Things that make you go hmmm…about crypto-currencies This week in our blog, we comment on some of the recent developments in the cryptocurrency market. We try to dig behind the headlines in order to give our customers some additional information about speculation in this arena. Things that make you go hmmm…about crypto-currencies

Gold and SendGold in the News

Here are a few articles trending on the subject of gold and SendGold. Goldman Sachs expects gold to break out of its narrow trading range and soar through 2021 as the coronavirus recession gives way to higher inflation. Goldman also expects demand for gold to strengthen across emerging markets, with Chinese and Indian gold demand "already displaying signs of normalization": https://markets.businessinsider.com/commodities/news/gold-price-market-rally-hedge-inflation-rates-recovery-goldman-sachs-2020-11-1029812577  ANZ Bank said that ongoing support from central banks will ensure the rise of regulator-backed digital currencies won’t dull demand for gold. “Certainly on our forecasts for the US dollar, inflation and bond yields, it looks like gold still has plenty of upside”: https://institutional.anz.com/insight-and-research/Nov-20/digital-currencies-won-t-dull-gold#.X67xglg-GSA.linkedin Citibank predicted a gold price of $2500 in 2021, as analysts on CNBC’s Trading Nation said “the weekly trend still looks quite bullish, and one would want to really buy into any sort of pullback we see over the next month”: https://www.cnbc.com/2020/11/20/gold-prices-are-closing-in-on-buy-range-charts-suggest.html SendGold co-founders Jodi Stanton and Mark Pey are presenting a SendGold update for gold and fintech company investors at the Gold and Alternative Investments Conference. Other speakers include Jim Rickards and Rick Rule. The GAIC Virtual Gold Conference is being held online from 9.30 AM to 5.30 PM on Thursday 26th November, 2020, AEST and registration is free: https://goldevents.com.au/

SendGold Handy Hints

Get 2% top-up on your gold!! SendGold is offering a Black Friday offer for a gold bonus up to A$250. More details here: https://www.sendgold.com/top-up-30-november/ Don't miss out! Remember, we are here to answer any questions. Just email us on customerteam@sendgold.com.


SendGold

November 11, 2020

Gold Market Update

After a 24-month trend where gold prices climbed steadily higher the market had a large selloff related to euphoria around a possible Covid vaccine. The selloff corrected what technical analysts call an “overbought” situation. While headlines last Friday said “Gold has its best week since July”, headlines today show “Gold slumps 4% on Covid vaccine hopes”. The potential for an effective Pfizer vaccine encouraged investors to increase their exposure to stocks. “If you think that you’re living in the best of all worlds, then you may feel you do not need as much gold,” said Commerzbank analyst Daniel Briesemann. “However, this assessment seems to be premature. And we’ve often seen in the past that at prices below $1,900, buying interest will come into the market - we would expect that to happen again this time.” In the West lower prices tend to see investors pause buying or selling gold, while in the East investors take advantage of lower prices to buy larger amounts.

Gold price this month in AUD/OZ

Looking for a way into gold? Gold prices are down this week. Now is the time. Click through for offer details.

SendGold Viewpoints

In this week’s blog, we discuss some of the market and economic certainties around the U.S. election and how investors can keep their eyes on the bigger picture no matter who is certified as U.S. president. Read the article.

Gold in the News

Here are a few articles trending on the subject of gold. SendGold CEO Jodi Stanton explores how Australia can combine two of our key national resources, technology expertise and gold mining. “By marrying these two national strengths, we could be setting up Australia to become a global economic powerhouse for many years to come, as investors seek financial strength and certainty instead of ever-mounting piles of debt”. Read the article. SendGold co-founder Mark Pey was interviewed on ausbiz for his views on elections and how they might impact gold prices. Watch the video (free login required). Saxo Bank’s Ole Hanson, Head of Commodity Strategy, calls today’s gold price sell-off “a weak correction within a bull market”. Read the article.
SendGold was just named 'Best Investment Innovation' 2020 by Finder Awards. Read the article.

SendGold Handy Hints

Our Level 2 accounts have had a tremendous response! If you have a Level 1 account and wish to transact more than A$5,000 (~US$3,600) at a time, upgrade to a Level 2 account and you'll be able to transact up to A$100,000 (~US$ 72,000) at a time, with larger weekly transaction limits and account balances. Look for the 'Account Level' in the menu on the SendGold app. Remember, we are here to answer any questions. Just email us on customerteam@sendgold.com.