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

sl hit

Long 1474.84, SL to BE+4

Onwards and upwards

Lovely trade and money management......big ups bud!!!!


Incase anyone missed this.....
https://www.metalsmine.com/news/9389...il-from-import

Thanks brother, I am still learning.

You look like you're sitting pretty with an entry well below where we are even after the pull back.

Don't forget that the SHFE closes for lunch in a little over 30 minutes. Keep your eye on whether or not they buy up gold into the lunch close. They may follow up on the opening sentiment. As we get closer to 11:30pm ET, keep your eye on gold rising, it could be another little rally before the SHFE lunch break. I've profited from that before. I'm long with tight stops right now. Good luck!

Worth waiting for it and saved equity.
Patience is the key.

Definately....couldn't have said it any better....
1488 limit order has been filled....have taken some off. Will keep entering closer to 1500 as we go along

short 1490.1 again, sl 1500, tp 1470

expecting some resistance (monthly chart)

Some levels for today.....
Obvious bull market as things stand.....

Upside targets for bulls
1493,8
1500
1506.2

Downside targets
1471.64
1461
1453

Looking at buying dips on/near
1480.20(h1 buy setup)
1471.64(interim support handle)
SL 1465

Selling rallies towards
1500
1505
SL 1510.5

Politics of the day will fuel moves.....will try get in close to support and resistance areas or rather just stay out with anything else inbetween....

Let's bag pips

Gold hits fresh multi-year tops, eyeing $1500 psychological mark
7 August 2019, 11:00

 

1. Fears of a full-blown US-China trade war continued to benefit the safe-haven commodity.
2. A fresh leg of a free-fall in the US bond yields provided an additional boost on Wednesday.
3. Renewed USD weakness does little to hinder the ongoing strong bullish momentum.

Gold surged to fresh multi-year tops on Wednesday, with bulls now eyeing a move towards conquering the key $1500 psychological mark.

The precious metal built on this week's bullish break through the $1448-50 supply zone and continued benefitting from the global flight to safety amid renewed fears of a full-blown US-China trade war. Tensions between the world's two largest economies intensified after the US President Donald Trump's decision last week to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1.

The announcement helped the commodity to rebound sharply from the $1400 round figure mark - tested last Thursday in the aftermath of a hawkish rate cut by the Fed. Adding to this, a fresh leg of a free-fall in the US Treasury bond yields on Wednesday provided an additional boost to the non-yielding yellow metal and collaborated to the ongoing positive momentum for the third consecutive session.

In fact, the yield on the benchmark 10-year US government bond dropped to its lowest level since Oct. 2016, which now seemed to weigh on the US Dollar demand and further underpinned demand for the dollar-denominated commodity. Wednesday's strong gains also marked the fourth day of up-move in the previous five and lifted the commodity to its highest level since April 2013.

It would now be interesting to see if bulls maintain their dominant position or opt to take some profits off the table amid extremely overbought conditions and absent relevant market moving economic releases from the US. Moving ahead, a scheduled speech by Chicago Fed President Charles Evans will now be looked upon for some short-term trading opportunities later this Wednesday.

Well said

Going for a small trade..
Short at 1486
SL 1492

Going for a small trade.. Long at 1486 SL 1480 TP open

Lol.. let's see which it goes

Correlation between price and sentiment XAUUSD

-hourly,last 3 days:




-daily,last month:

1500 right ahead

$3.5 away!

mega overbought situation, next target is 1530. it will touch soon. All banks are following foot steps of FOMC.