XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2267 | Metals Mine

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

  • #45,321
  • Jan 17, 2018 7:10pm Jan 17, 2018 7:10pm
well, i don't get it why relief rally from government shutdown can have that much impact till us index fly. Gold can't handle it and go down for the time being. I'm in a great pain though from this.
  • #45,322
  • Jan 17, 2018 10:49pm Jan 17, 2018 10:49pm
Quoting goldgirl
{quote} Below 1300.
thx Gold Girl! do you mean that correction will go down to 1300 and continue up after than?
  • #45,323
  • Jan 17, 2018 11:38pm Jan 17, 2018 11:38pm
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  • #45,324
  • Jan 17, 2018 11:44pm Jan 17, 2018 11:44pm
Never being good with predicting the future, but if they can do 1324 (today's bottom) to 1335 (todays top) and on Friday we have a new bottom of 1315? That will be a lot of fun!
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Maadik Hugiis. IQ 69.
  • #45,325
  • Jan 18, 2018 12:55am Jan 18, 2018 12:55am
Quoting chee-neechee
{quote} thx Gold Girl! do you mean that correction will go down to 1300 and continue up after than?
she would have sold it in that case
  • #45,326
  • Jan 18, 2018 1:26am Jan 18, 2018 1:26am
The reason for dropping of Gold is that Australian stocks have shown weak trend during last few days.
Australia being the second biggest gold producer, it makes a lot of sense
Ehtesham Bokhari
  • #45,327
  • Jan 18, 2018 1:33am Jan 18, 2018 1:33am
Sorry to post so frequently, but I have even better idea now. Would love to see it action! This is even more fun!
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Maadik Hugiis. IQ 69.
  • #45,328
  • Jan 18, 2018 2:49am Jan 18, 2018 2:49am
Quoting MoneyZilla
Sorry to post so frequently, but I have even better idea now. Would love to see it action! This is even more fun! {image}
not likely unless us index go to 91.25 and sentiment in gold calms down.
  • #45,329
  • Jan 18, 2018 3:24am Jan 18, 2018 3:24am
MZ,

for "orientation" purposes, you can check the Gold vs. EURUSD correlation too.

Sixer
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  • #45,330
  • Jan 18, 2018 4:16am Jan 18, 2018 4:16am
I've just gone long on Gold on a swing trade. Let's see what happens
  • #45,331
  • Jan 18, 2018 5:14am Jan 18, 2018 5:14am
Quoting Ehtesham
The reason for dropping of Gold is that Australian stocks have shown weak trend during last few days. Australia being the second biggest gold producer, it makes a lot of sense
How about nothing goes up forever.
  • #45,332
  • Jan 18, 2018 5:27am Jan 18, 2018 5:27am
Quoting SunTrader
{quote} How about nothing goes up forever.
indeed correction is needed too in this market especially for those that over extended... though it might be hard to say such things on stocks market though.
  • #45,333
  • Jan 18, 2018 5:34am Jan 18, 2018 5:34am
Can someone explain relation between Australian stock market weaeknes and price of Gold. I don't understand.
  • #45,334
  • Edited 3:07pm Jan 18, 2018 6:12am | Edited 3:07pm
Quoting mihrutkanik
Can someone explain relation between Australian stock market weaeknes and price of Gold. I don't understand.
The correlation is not that clear from what I see...

Turquoise = ASX200
Red = AUD Future
Gold = Gold
Purple = AS Gold Industrials Sector
Green = AS Industrials Sector (Construction, engineering/building products, electrical equipment and industrial machinery)


First indicator = Correlation ASX200 & Gold
Second indicator = Correlation ASX200 & AUD Future

A strong currency is normaly not good for the stock market (A weak currency boosts the exports) but AUD is also driven by steel prices a lot.
I guess if the demand for steel increases (The demand for AUD increases) -> Stocks of the Gold Industry sector go up and stocks of other companies which have nothing to do with steel (Industrial sector for example) go down because the export is not attractive due to the strong AUD (That's why the correlation might be off and on)

Will take later a deeper look into it.
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"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #45,335
  • Jan 18, 2018 6:54am Jan 18, 2018 6:54am
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  • #45,336
  • Edited 7:17am Jan 18, 2018 7:01am | Edited 7:17am
Quoting mihrutkanik
Can someone explain relation between Australian stock market weaeknes and price of Gold. I don't understand.
to be honest, just take a look at last year price action from gold, even though us index got weaker, gold falls down around same date. Perhaps you might say that it's selling gold psychology or something like that. They tend to be neutral around 20th and gold will surge again on beginning of february. Over the short term, gold likely to fall down but us index will still determine the path although it might be weak.
for your question, i check correlation is not good. can't compare them.
forgot to add that gold tend to weaken nearing month end too. perhaps from 24th or 25th but no clear on timing them.
  • #45,337
  • Jan 18, 2018 8:23am Jan 18, 2018 8:23am
Quoting chee-neechee
{quote} thx Gold Girl! do you mean that correction will go down to 1300 and continue up after than?
Nope. Don't think so. Gold may have more upwards momentum
  • #45,338
  • Jan 18, 2018 10:59am Jan 18, 2018 10:59am
Quoting goldgirl
{quote} Nope. Don't think so. Gold may have more upwards momentum
What do you think about Silver? Do you think there will be a further move to the upside?
  • #45,339
  • Jan 18, 2018 1:24pm Jan 18, 2018 1:24pm
...still looking bearish the moment
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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #45,340
  • Jan 18, 2018 1:32pm Jan 18, 2018 1:32pm
Quoting v2vboni
...still looking bearish the moment {image}
Look to the left - Jan 10th in particular.
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