Technicals | Jun 03 2025
By Michael Gable
Share markets here and in the US have managed to edge slightly higher in the past week, which is a good performance considering that we are near old highs and profit taking starts to kick in around these sorts of levels.
We noted last week the US dollar continued to look weak and this would have a positive effect on precious metals.
We have liked gold for over a year now, so although some think the performance is tariff related, that is clearly not the case.
Despite a YTD performance of nearly 50%, gold should continue to climb higher.
We offer a technical view.
Our most recent charting comment was on 8 April when gold had dipped back under US$3,000/oz, and we noted the uptrend remained, and that any dips were a buying opportunity.
After peaking later that month on an intra-day basis, gold then underwent another consolidation.
Yesterday, it broke higher (circled). This is another buying opportunity and gold should continue to run higher from here.
Content included in this article is not by association the view of FNArena (see our disclaimer).
Michael Gable is managing Director of Fairmont Equities (www.fairmontequities.com)
Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services.
Michael is RG146 Accredited and holds the following formal qualifications:
Bachelor of Engineering, Hons. (University of Sydney)
Bachelor of Commerce (University of Sydney)
Diploma of Mortgage Lending (Finsia)
Diploma of Financial Services [Financial Planning] (Finsia)
Completion of ASX Accredited Derivatives Adviser Levels 1 & 2
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Disclaimer
Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
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