XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2401 | Metals Mine

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

  • #48,001
  • Jan 30, 2019 9:14am Jan 30, 2019 9:14am
Quoting MarinaBanker
Sell off after FOMC?
I don't think so. Current drop in price due to reaction of news. FOMC is not going to change rate. So gold will probably follow it's trend technically. Let's see where price will close this week after employment data.

P.S. I don't do intraday trade that's y my analysis is based on little long term i.e. day/week
P.S. Trade with the discipline of Money Management and Risk Management.
  • #48,002
  • Jan 30, 2019 9:50am Jan 30, 2019 9:50am
Quoting farukh
{quote} I don't think so. Current drop in price due to reaction of news. FOMC is not going to change rate. So gold will probably follow it's trend technically. Let's see where price will close this week after employment data. P.S. I don't do intraday trade that's y my analysis is based on little long term i.e. day/week
Not necessarily will it require a rate change to cause gold to drop. It could be a possibility that people buy gold ahead of key major event in fear of uncertainty. As long as Fed doesn't announce anything shocking (eg. reduce in rate), then it could still cause a sell off as people unwind their position. Just a possibility to consider.
  • #48,003
  • Jan 30, 2019 2:53pm Jan 30, 2019 2:53pm
Quoting pipsy7
__________TP1 @1307.77 , SL man. {image}
________________
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da n0o0b + $hit_Disturber
  • #48,004
  • Jan 31, 2019 6:59am Jan 31, 2019 6:59am
Dear FF Members,

I am looking at this level (1325-1326) to short gold for a well over due decent pullback before tomorrows NFP. Price seems to be weakening to indicate a pullback during the US session. I am not including a TP or SL as I will watch for my own entry triggers of price reversing.

Attached Image (click to enlarge)
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Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
  • #48,005
  • Jan 31, 2019 7:16am Jan 31, 2019 7:16am
Quoting tzamo
Dear FF Members, I am looking at this level (1325-1326) to short gold for a well over due decent pullback before tomorrows NFP. Price seems to be weakening to indicate a pullback during the US session. I am not including a TP or SL as I will watch for my own entry triggers of price reversing. {image} Kind Regards, Tzamo
I am also looking for a bearish conformation, looks like on H1 , double top will form. Best luck.
  • #48,006
  • Jan 31, 2019 7:27am Jan 31, 2019 7:27am
There is strong support on 1315-1317 area. If it pulls back then that level may act as support to buy again.
Well I don't do intraday trade so for me it's still going up unless day closed signals of reversal. I m holding position from 1305 targeting1337 if it doesn't close with any sign of reversal.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #48,007
  • Jan 31, 2019 7:31am Jan 31, 2019 7:31am
Sold @ 1324.10
We can't control the sea, but we can learn how to surf the waves.
  • #48,008
  • Jan 31, 2019 7:38am Jan 31, 2019 7:38am
Quoting aariapoor
Sold @ 1324.10
Selling Gold now in an uptrend/range breakout with no reversal pattern just a day before NFP? I wouldnt sell but you may have better analysis. Good luck bro
  • #48,009
  • Jan 31, 2019 7:43am Jan 31, 2019 7:43am
I think Gold Silver will continue to climb. 2019 is their year to shine.

Equities just rejecting to downside again, it hit the mark I was expecting in early european session.
  • #48,010
  • Jan 31, 2019 7:43am Jan 31, 2019 7:43am
Quoting aariapoor
Sold @ 1324.10
There is no reversal confirmation dude !! Not good decision. Best luck!!!
  • #48,011
  • Jan 31, 2019 8:09am Jan 31, 2019 8:09am
Quoting tush1822
{quote} There is no reversal confirmation dude !! Not good decision. Best luck!!!
I know and it's a risky one.

But base on the pattern at 30th Aug 2017:

Attached Image (click to enlarge)
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I expect something like this:

Attached Image
We can't control the sea, but we can learn how to surf the waves.
  • #48,012
  • Jan 31, 2019 9:26am Jan 31, 2019 9:26am
sell gold here or @1328 $
SL: 1335$
tp1: 1098 $
tp2: 880 $
  • #48,013
  • Jan 31, 2019 10:02am Jan 31, 2019 10:02am
Quoting emadshahin
sell gold here or @1328 $ SL: 1335$ tp1: 1098 $ tp2: 880 $
Very deep TPs...how long do you intend to hold? A year?
  • #48,014
  • Jan 31, 2019 11:00am Jan 31, 2019 11:00am
Bought at 1321.34 looking for 1330 target
  • #48,015
  • Jan 31, 2019 11:11am Jan 31, 2019 11:11am
conform to sell
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  • #48,016
  • Jan 31, 2019 11:45am Jan 31, 2019 11:45am
Quoting emadshahin
sell gold here or @1328 $ SL: 1335$ tp1: 1098 $ tp2: 880 $
A year won't be enough for these TPs but I have a short on silver at 16.15 looking for some correction.
  • #48,017
  • Jan 31, 2019 11:48am Jan 31, 2019 11:48am
Gold is not going to be a continental dollar of the modern times, I see it going beyond 1360 in the long run...
Markets are Irrational
  • #48,018
  • Jan 31, 2019 1:39pm Jan 31, 2019 1:39pm
Quoting ArslanHyder
Gold is not going to be a continental dollar of the modern times, I see it going beyond 1360 in the long run...
Gold could move $40 (1320 to 1360) in a few days. Not saying that it will. Maybe some resistance 1320?
Charts: XAUUSD/UJ/EU. Tools: stoch/daily pivots/fibo/channels. Scalper.
  • #48,019
  • Jan 31, 2019 5:42pm Jan 31, 2019 5:42pm
Central Banks Are on the Biggest Gold-Buying Spree in a Half Century

Central banks bought more bullion last year than anytime since 1971, when the U.S. ended the gold standard.
Governments added 651.5 tons of gold to their coffers in 2018, a 74 percent increase from the previous year, according to a report from the World Gold Council.

Russia, which is "de-dollarizing" its reserves, was the biggest buyer, followed by Turkey and Kazakhstan. Hungary also made a large purchase, citing gold’s lack of counterparty risk and role as a hedge against changes in the international finance system, the WGC said.

“Central banks chose to significantly increase their gold reserves, reinforcing the importance of gold as a reserve asset,” the WGC said.

Central banks are expected to acquire an additional 600 tons this year, according to the consulting firm Metals Focus Ltd. The buys, which will help the banks diversify their foreign-exchange assets in a time of extraordinary political volatility, signal a growing confidence in the metal’s value moving forward.

The banks "were not net buyers even a decade ago," said Juan Carlos Artigas, director of investment research at the WGC, in a telephone interview. "As their foreign reserves expand, they are increasingly diversifying away from pure dollar exposure." {Guess they don't believe in Drumpfanomics}.

Slowing global growth, a weaker U.S. dollar and a drive by central banks to expand the amount of gold they hold could be a winning trifecta for investors seeking a recovery in the metal’s price after its first annual loss in three years.

Gold prices ended 2018 little changed, but rallied toward the end of the year amid concerns about Brexit, a falling stock market and expectations for a less aggressive U.S. monetary policy. The trend has continued this month, with bullion climbing to the highest since May.
SUPPLY AND DEMAND FIGURES FOR 2018

  1. Global gold demand rose 4% to 4,345.1 tons
  2. Bar and coin demand rose 4% to 1,090.2 tons, with coin purchases at a five-year high.
  3. Global ETF inflows fell 67%, but were up for the year in Europe.
  4. Jewelry demand was steady, and total supply was little changed.

https://www.bloomberg.com/news/artic...mpaign=markets

  • #48,020
  • Jan 31, 2019 7:15pm Jan 31, 2019 7:15pm
Quoting SunTrader
Central Banks Are on the Biggest Gold-Buying Spree in a Half Century Central banks bought more bullion last year than anytime since 1971, when the U.S. ended the gold standard. Governments added 651.5 tons of gold to their coffers in 2018, a 74 percent increase from the previous year, according to a report from the World Gold Council. Russia, which is "de-dollarizing" its reserves, was the biggest buyer, followed by Turkey and Kazakhstan. Hungary also made a large purchase, citing gold’s lack of counterparty risk and role as a hedge against changes...
The timing, rate of doing so and the lack of correlation with yen is a little weird though.
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