XAU/USD & XAG/USD - Gold & Silver Traders Thread

Tp 1275

TP1 practically touched, looking for TP2

This Lady metal is going to break previous resistances @1290 and 1298 and finally building a bridge to 1300 and higher

Nice call dude! Do you think this time gold will reach 1300?

Doh! I chickened out at 1275. The a wave looks like it may have the juice, but don't take my word though, I don't trust my own wave skills yet
Good fortune bro

Hi

In my opinion Gold has a target above 1290, which means 1300 according to the Daily timeframe. If you pay attention to the Daily chart you'll notice this issue. But I don't know why the path of the price has been so complicated to touch 1300 or little more higher.

Hi Bra
Be comfortable. Everybody has own analysis. Thanks for sharing your idea with me

gold daily hight volume

h1
short-term:1283

gold moving well

I reckon Kim Jong Un and Donald Trump are both long Gold - they might decide to talk it down or they might just blow it up. I was getting short and stopped out just as Trump started talking about "Fire and Fury". Gold been running higher since. Levels on charts are going to be pretty meaningless while these two keep trading ever bigger threats and reducing the possibility of creating a face saving deescalation for them both.

The idea of Gold as a safe haven in uncertain times has a long history in human culture but is sort of strange in it's current form - gold you can pick up and carry, or bury makes sense in that context but why would a paper (electronic) contract for gold have anymore certainty attached to it than any other paper contract, like a bank note for instance?

Now that wave looks more dependable . And so we learn... thank you

Seasonal buying time begins in august

close gold

We are close to a top I feel like, the real aggression from North Korea has been there for years, why would it suddenly escalate? This can only end in disappointment for the gold bulls who already had a decent rally this past month.

Furthermore I expect a sizeable retrace from EUR and GBP, causing the Dollar Index to gain and subsequently forcing GOLD to drop lower again, because most of the gains were based on the weakening Dollar Index anyway. GOLDEUR only gained the past 3 days, because of NK tensions, but this will wear off again in a few days. Trump only has enough capacity to focus on 1 subject each time and that sizzled off real quick in the past.

With the way it's rallying Gold could reach $1,295 - $1,300 again. The question is whether it will break out above those levels.

There is big chance gold will break out the key resistance 1295. after reaching that level we should see some retrace depending on supply demand if we see good demand then it will go up but my heart says it should reverse because gold is actually in a downtrend and last 6 months its consolidating between 1295 to 1205 if we see weekly chart And please do your own research before enter any position. Thanks everyone

it will imo

h4
1296.xx

Gold prices are higher in U.S. trading Wednesday as investors sought safety from rising tensions between the U.S. and North Korea. XAU/USD was able to break the anticipated resistance at 1266.50, the top of the Ichimoku cloud on the 4-hour chart, and challenge the next barrier standing in the 1274/1 zone. Gold’s advance came after the impact of strong employment data last week diminished.
From a technical point of view, trading above the Ichimoku clouds indicates that there is more strength and volume behind the bulls. If the market ends the day beyond the aforementioned 1274/1 area, that would be another bullish sing and foreshadow a move up to 1282/0.
To the downside, keep an eye on the 1266.50-1264 area where the top of the 4-hourly cloud and the broken short-term bearish trend line converge. The bears will have to drag prices below there to tackle the intra-day support at 1258.85. A break below 1258.85 could see a fall to 1255/3.

With the depreciation of the US dollar, gold climbed for the third straight day. This uptrend has pushed the gold to the weekly resistance level in 1312.2-1284 at $ 3 (Fibonacci estimates 161.8% and 127.2%). Each time the weekly chart hits this range has been stopped. Therefore, it is expected that history will be repeated again.
On the daily chart, yesterday's bullish move led the gold price to rise above the resistance line of $ 13 by 1337. This is a sign of continued gold bullish movements on the daily chart.
On the chart of the altar, the supply area of 1281.1-1275.4 was broken and turned into a supportive zone. The market continues to supply 1288.8-1283. 4.

Strategy: Given the recent four hour price movements, vendors have entered the current supply area. It's still unclear whether the sellers' power is such that they can lower the price of gold. On the other hand, weekly vendors are likely to enter the market from today or early next week, but on the other hand, daily buyers have entered the market after the failure of the resistance line. Although it is tempting to enter the trading deal, it is better to wait for the daily chart return to the bottom of the resistance trend. For this reason, it is recommended that you refrain from trading gold today.