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  • #941
  • Aug 14, 2013 7:17pm Aug 14, 2013 7:17pm
Quoting chip_8088
update chart {image}
Does look like gold is stalling while silver is booming. Although, I think a pullback will happen. With low inflation, better economics globally, and stronger dollar, a down move could be needed. Would like to see test of 1300.

CFTC data indicated a 20-25% increase is gold shorts. I am not really interested in what some may think physical demand will increase due to better economics because when push comes to shove, when the institutions push the sell button markets move. Annnnnnd, gold is a fear trade. Why would it increase if the economics do?
When the facts change I change my mind, what do you do sir
  • #942
  • Aug 14, 2013 7:18pm Aug 14, 2013 7:18pm
Quoting chip_8088
update chart {image}
Shorting??????
  • #943
  • Aug 14, 2013 7:49pm Aug 14, 2013 7:49pm
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  • #944
  • Aug 14, 2013 7:51pm Aug 14, 2013 7:51pm
Quoting trexy123
{quote} Shorting??????

i am wait to long!hihihihihihih
  • #945
  • Aug 14, 2013 8:59pm Aug 14, 2013 8:59pm
Quoting Pip Anon
{quote} Does look like gold is stalling while silver is booming. Although, I think a pullback will happen. With low inflation, better economics globally, and stronger dollar, a down move could be needed. Would like to see test of 1300. CFTC data indicated a 20-25% increase is gold shorts. I am not really interested in what some may think physical demand will increase due to better economics because when push comes to shove, when the institutions push the sell button markets move. Annnnnnd, gold is a fear trade. Why would it increase if the economics...
Do you think they will disconnect? Gold down due to growth and relatively low inflation levels, and silver up due to increased industrial demand?
"The market can remain irrational longer than you can remain solvent"
  • #946
  • Aug 14, 2013 10:47pm Aug 14, 2013 10:47pm
Quoting anton.olff
{quote} Do you think they will disconnect? Gold down due to growth and relatively low inflation levels, and silver up due to increased industrial demand?
I think it is a matter of price points. The vast majority of demand is in Asia. Silver is much cheaper than gold. I think analysts believe physical demand will push it higher. It may, I really have no way of telling.

But, I could buy roughly 64 ounces of silver for an ounce of gold.
When the facts change I change my mind, what do you do sir
  • #947
  • Aug 14, 2013 11:01pm Aug 14, 2013 11:01pm
Quoting EatPIPs
My 2 long positions are still open for a few days now looking to reach 1346. All covered with positive SL however PA is in channel range at the moment so will see how tomorrow plays out.
I would advise you to leave your longs open. Keep SL far away. It'll go up down zig zag, but I expect this to keep going up for a week or so, thereafter expect a DECENT correction.

I'm glad to see you guys keeping the thread alive
Hello World!
  • #948
  • Aug 14, 2013 11:51pm Aug 14, 2013 11:51pm
Taking Profit at 1415 would be an over estimated target as of now. Gold is expected to touch 1387 by september and it would go back to 1080 - 1074 region for the year. The recent news on france and Germany pulling out of recession and the US threatening to taper bond purchases would have an impact on the gold price as demand for shares and bonds in the market will increase. The recent 10% import duty hike on gold to reduce current account deficit in India is likely to reduce the demand for gold by about an estimated 100 tons during the festival season. Yes there is an upswing target for gold but it is not going to be beyond 1400 for the year and the yellow metal will lose its lusture to go back to be priced just above its production cost of 1080 per ounce.

The recent upswing of gold is only because of the PPI index showing an adverse and a mixed result of the US economy. The result on the Philly index if favourable today would spiral the price of gold down as well.

It takes years of hard work and dedication to make profits on the yellow metal as what we trade is on spot paper gold. Remember the phrase "If you dont have it, you dont own it" and trend is the friend. The best way one can profit from gold is to have a minimum day trading target of USD 20 which is not much but always safer and better than nothing.

My opinion, I would start going bearish on gold the moment it touches 1387 - 1400 zone for the year.
  • #949
  • Aug 15, 2013 12:26am Aug 15, 2013 12:26am
Time to get Short, still didn't quite get to the July 24th handle. Plenty of room to retrace
  • #950
  • Aug 15, 2013 3:09am Aug 15, 2013 3:09am
I closed out my longs this morning to be on the conservative side and bank the profits. I have a couple pending short orders waiting to be hit with an open target. I can see it going further up but after a small correction again IMO.
To live a successful life, we must lose our fear of being wrong
  • #951
  • Aug 15, 2013 7:49am Aug 15, 2013 7:49am
should not gold tank based on jobless news? Fed will be thinking about reducing bond buying.
  • #952
  • Aug 15, 2013 8:00am Aug 15, 2013 8:00am
Quoting goldfinger
should not gold tank based on jobless news? Fed will be thinking about reducing bond buying.
Philly Index coming up shortly could be determining factor. Fed will likely taper a bit, just to say they did and set the stage for future adjustments, but likely that their bond buying will remain for years to come.
"The market can remain irrational longer than you can remain solvent"
  • #953
  • Aug 15, 2013 9:37am Aug 15, 2013 9:37am
Quoting anton.olff
{quote} Philly Index coming up shortly could be determining factor. Fed will likely taper a bit, just to say they did and set the stage for future adjustments, but likely that their bond buying will remain for years to come.
Why would they taper?

Look at today's news:

Philly Fed Drops Most In 9 Months
TICsaster: Foreigners Sell More US Securities Than After Lehman Bankruptcy
Industrial Production Misses For 4th Month In A Row
10 Year Yield Jumps To New 2 Year High

etc etc
  • #954
  • Aug 15, 2013 9:49am Aug 15, 2013 9:49am
No matter, the toppings look pretty real eh?
Still like gold. But maybe could get at cheaper prices now.
cleared 70% of the positions.
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  • #955
  • Aug 15, 2013 11:05am Aug 15, 2013 11:05am
Quoting ClockTrader
{quote} I would advise you to leave your longs open. Keep SL far away. It'll go up down zig zag, but I expect this to keep going up for a week or so, thereafter expect a DECENT correction. I'm glad to see you guys keeping the thread alive
Gold has bounced pretty well, right now @ ~1338, time to call it a day. Have a good one you all!
Hello World!
  • #956
  • Aug 15, 2013 11:22am Aug 15, 2013 11:22am
Quoting cg uno
{quote} Why would they taper? Look at today's news: Philly Fed Drops Most In 9 Months TICsaster: Foreigners Sell More US Securities Than After Lehman Bankruptcy Industrial Production Misses For 4th Month In A Row [url=http://www.zerohedge.com/news/2013-08-15/10y-yield-jumps-new-2-year-high]10...

Tapering is not ending the bond buying, just signaling that they are moving in that direction. They might just take $10-20 billion off each month. In any case, market looks like it will range higher before more likely move downward.
"The market can remain irrational longer than you can remain solvent"
  • #957
  • Aug 15, 2013 11:40am Aug 15, 2013 11:40am
Quoting anton.olff
{quote} Tapering is not ending the bond buying, just signaling that they are moving in that direction. They might just take $10-20 billion off each month. In any case, market looks like it will range higher before more likely move downward.
Have you been stopped on your 1298 and 1310 shorts at 1337 that you mentioned on August 8th?
  • #958
  • Aug 15, 2013 11:52am Aug 15, 2013 11:52am
Gold just went pass 1345 and look at those SL pushing it up.
  • #959
  • Aug 15, 2013 12:03pm Aug 15, 2013 12:03pm
1360 is good point for short
  • #960
  • Aug 15, 2013 12:09pm Aug 15, 2013 12:09pm
My target..

i pray for it
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