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

I have read somewhere Indian housewifes, the ones from Asia, not the North American ones, are holding phsycal gold, bigger than the gold reserves of USA, UK, Canada, Switzerland, China, Russia and some other enthusiasts... How much of this is true, I have no idea... But if it is true, thanks got I have no dealings with that kind of women! Primary, cause I am a cheap guy!

Silver bounced off from 16.20 yet again, the sideways consolidation continues. Next target will probably be at 16.50.

Good morning everybody.Do anybody know how to get in contact with Mitchoss?I cant send him a message because i'm a junior member.

Speaking of timing. Keeping the Equlibrium between the buys and the sells, it is not meaningless to expect the rate to fall to 1310-12 today or earlier tomorrow. But they might leave the final round for some other time? So far I could not find a way to know that...

This is just an idea of the timing. It is probably wrong, cause the starting moment might be at day 2, instead of day 1, as I have drawn it...


BTW I am a buyer at the moment and going to 1345 some time today or tomorrow, in one hop, will make me soooo happy...

nice preview u have Aleksbuk, may the force be with Us.

Statistically, the current London hour, 12:00 is the biggest direction changer.

Lets see if this will happen today in the 12:00 London H4?

Can the bulls gain more to 1340, at least? I hope and pray.

Or the general statistics will turn out to be right... again?

Lets hope statistics won't make it today!

I'm thinking 1342.5-1344

Got, I miss Mitchoss and Visionary here. I am sure they would have bought it around 1321.10.

PhaseCapital usually shoots around 3 bucks away from target, so lets hope the rate goes today to 1345?

Sold a bit. Tight stop.
k

Also shorted 1335, but news coming up in about 15 mins

Uh shit, thanks mate, forgot about it

Technical preference is down imho. If 1336 is “strongly” broken, it should serve as a good support in the future. My stop is at 1337.
k

Short @1340

Friends, I do hope you are all wrong! But only for today!:-)

Keeping some longs till 1340-45.

Unloaded around 30% of my buys. Here are some closed buy trades. I am not even close to Mitchoss and Visionary, but I am learning how to trade now...

s/o - underestimated the spreads on gold (I usually trade oil only) - sl should serve to prove me wrong, but not yet entirely convinced... Re-entered, stop 1337.5.
k

s/o no 2. No further attempts. Congrats to bulls.
Cheers,
k

I do expect, after the current buy movement we are in at the moment, is over, the rate to go nowhere. Until and even after this Friday.

The rate did move so beautifully and in such a long distances. It was an amazing 2 last weeks!

Now the time for some tears is probably approaching?

I mean ranging times. For about a week or so? Maybe two weeks?

Similar amount of time for the range as it was for the trend?

Lets all hope I am wrong! However, I sense I am the only guy here who expects the ranging time... Maybe there is something wrong with me, I guess?

Have short at 1338 (50% retracement) and a final sell limit 1342 (61.8% retracement on H4). DXY bounced 3 hours ago, lets see if gold will follow and drop a few $'s..and correlate

Hi! A newbie here. Been snooping around here for a while now. I have learned a lot from u guys and I am very grateful for that.

Sorry for the incredibly LONG content. Just can't help it lool

I wanna contribute a bit from my side, not sure if it does help tho. My trading style is mostly resistance points plus big news. I find it interesting that for the past few weeks, not a lot of ppl focus on the news. People on this thread seem to focus on charts more. Just to be clear, I am not against "charts only" style. I have been observing and I know that some traders on this thread have consistent success while using this style.

But if some of you are also interested in the news' impact on Precious Metals, maybe we can talk about that here as well?

Yes, I am talking about the Trade War between US and China. Personally, I don't think China would take this easily. It took a very short time for EU to put up the white flag when Trump first made the threat to them. Yes, the EU did try to fight back with the punishment tariffs they did with Bush at first, but the moment Trump offered a deal on the table, the EU immediately took it (at least till 4th May). For China, Trump did a lot of talks n talks, tweeting all the time, signing the bill for tariffs. A few days later, he tweeted out it's gonna be gd with China, blah blah blah. China remained relatively silent and then on Monday, the China bill has come into effect, against US.

China just has so much leverage right now against US:
1. China has been the largest buyer of US Treasury debt. With Trump's tax cut, there will surely be a huge deficit on US gov account in the coming year. Trump simply can't risk offending China. Yet, that idiot chose to play games with China, trying to make the trade war more serious by introducing an act to protect the IP rights this week.
2. For the food tariffs, once China chooses to tax US's soya input, this would hurt bad in the areas in US with major soya bean farms, which happen to be some of the major support of the Republicans. This may mean Trump would lose support in this areas.
3. Trump said he already said yes to meeting up with Kim Jong Un before May but where are they gonna meet? Cant be North Korea, and it can't be US. The only place possible is China.

Things with other countries:
1. The spy scandal with Putin from Russia. Russia decided to have a "missile practice" near Sweden on 4th-6th April right after the Russian diplomats in US/UK got exported.
2. Trump kept on whining about the Wall near Mexico in the past few days.

Trump's been acting like an idiot and changing his mind all the time (or maybe there's his strategy, being unpredictable). Because of all this, I would think that this week would be quite bullish for Gold in general, we may hit above 1360 again, or even 1375. If it wasn't Easter Monday today, I would think the Gold rate would have reach 1336 8hrs ago already. Once we reach 1375, we would have a slight correction, and we will see from then. We are still a while away from the next FOMC meeting (this is if u are a day trader like me), the current economic calendar [I am only talking about the standard data (index, CPI, etc)] shouldn't make a big fluctuation on Gold rate now as it's still too soon for Fed to decide if they should hv 4 rate hikes before the next meeting.

Most eyes are on the trade war now, which should AT LEAST last til the end of next week i think (unless it hits 1375, once it hits 1375, it can come back down to 1360 or more).

These are my views. But I could be wrong. Any discussion is welcome. If you think some of it is wrong, you are also welcome to point it out. After all, I am a newbie.