Joined Jan 2005
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Status: Keep Learning
|1,180 Posts
Hey, where did all the talks about the 600 & 575 gone??? I think these numbers are somehow far away right now, we are now testing the 650 with a pretty good advance earlier....
If the equity market can't rescue itself at this juncture, gold can't either. Bonds are rallying as if deflation is knocking on the door. Oil propped up by this violence, though in the end it wont be immune to the deflationary pressures in the market currently.
The US dollar loosing interest rate support, though benefiting from american consumer conservatisim, the balance of payments should improve under this scenario.
The money managers may not be able to rescue the markets, when they come back from their summer vacation trolling the beaches at St. Barts. Technical damage done in gold, easier to take it down then up.
Joined Jan 2005
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Status: Keep Learning
|1,180 Posts
Quoting kolachi
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Can you please elaborate it in little detail that how it is critical?
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This level is a critical tecnical level...$650 in gold is the 61.8% retracement against the most recent drop from $677 to $600, Actually the 61.8% is at $647....If gold manages to clear this $650 mark, it will open the road to further gains above $680 at least...
Joined Jan 2005
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Status: Keep Learning
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Quoting Spectre2006
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If the equity market can't rescue itself at this juncture, gold can't either. Bonds are rallying as if deflation is knocking on the door. Oil propped up by this violence, though in the end it wont be immune to the deflationary pressures in the market currently.
Ignored
If you think the rally in bonds is sustainable, then I think you are mistaken...If you watch the inflation figures in the US, you will find that they are still at the high end despite the fact that employment & the economy in general (measured through GDP numbers) is slowing...
The stable inflation rate comes from increased credit spending by consumers...This is why consumer spending numbers are still strong despite slowing employment...
This picture suggests a hyper-inflation period similar or worse than the 80s, not deflation...We are extremely far away from deflation, given the extremely high prices of oil & metals...I don't know how can you expect deflation to be knocking while all commodities are at mutli-decade highs & inflation is soaring all over the world, Europe, UK, US, Japan, China, India, Australia, Canada & everywhere...???!!!
The rally in bonds was mainly because traders are not expecting a rate hike next meeting, not because of deflation worries...
Anybody here who trades XAUUSD? My broker offers gold trading and I noticed huge movements of 450+ pips in a single day lately. Note that this movement doesn't occur on a daily basis. Sometimes the move is less than 100 pips.
On the other hand the spread is 8 pips and I don't know if it really worth it to trade.
Your past experience with this market could help me and others to make up our minds. Thanks in advance.
Which broker are you using? My broker has a spread of a whopping 100 pips!
Quoting aparsai
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Anybody here who trades XAUUSD? My broker offers gold trading and I noticed huge movements of 450+ pips in a single day lately. Note that this movement doesn't occur on a daily basis. Sometimes the move is less than 100 pips.
On the other hand the spread is 8 pips and I don't know if it really worth it to trade.
Your past experience with this market could help me and others to make up our minds. Thanks in advance.
Joined Jan 2005
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Status: Keep Learning
|1,180 Posts
Quoting aparsai
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Nobody with GOLD experience?
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I do trade Gold & Silver & currently have medium term positions in both of them...Do you have any opinions to share about the mid-term future of gold prices??? I am long both Gold & Silver by the way....
Gold made a huge move this morning: from about 632 to about 614, which is almost 3%. It would have been very nice to be in on this move, obviously.
I'm wondering what the best way to trade gold is. Is there some news that created this move? What's the best way to trade gold: with ta or with fundamentals. Certainly, one could do it either way, but some days gold is great and some days there aren't any good trades...and so, if some news created this move today and most others like it in the past then fundamental trading would be a good way to avoid all those bad trades.
