We err, and err, and err again, but less.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #54,124
- Jan 6, 2020 12:39pm Jan 6, 2020 12:39pm
- Joined May 2019 | Status: iTrade | 1,838 Posts
We came within $10 of $1600 today on the CME GC front-month contract. At the start of 2020, most forecasts kept gold under $1600 for the year. I guess they weren't betting on US-Iran tensions getting worse. Gold's safe haven status at play. Fundamentals are supporting gold and will probably continue to do so. Good luck out there. 
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
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- #54,125
- Jan 6, 2020 10:32pm Jan 6, 2020 10:32pm
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,126
- Jan 7, 2020 12:01am Jan 7, 2020 12:01am
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#SILVER / Daily & H4 
- #54,127
- Jan 7, 2020 12:21pm Jan 7, 2020 12:21pm
- Joined May 2019 | Status: iTrade | 1,838 Posts
I can't help but be bullish on gold right now. But after investigating a little further there are two things that peaked my interest.
- Gold's ascend began back on Dec 23rd, well before the US-Iran drama
- Even though I firmly believe the markets are seeking safety in midst of uncertainty, this recent volume spike accompanied by selling is making me question why there was so much selling if investors are seeking safe assets to pile their money in.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
54.4%
- #54,128
- Edited 8:33pm Jan 7, 2020 7:18pm | Edited 8:33pm
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
I can't help but be bullish on gold right now. But after investigating a little further there are two things that peaked my interest. Gold's ascend began back on Dec 23rd, well before the US-Iran drama Even though I firmly believe the markets are seeking safety in midst of uncertainty, this recent volume spike accompanied by selling is making me question why there was so much selling if investors are seeking safe assets to pile their money in. {image}
I only trade XAU/USD. Based on USD news & Fib SR & BB20
- #54,129
- Jan 7, 2020 9:06pm Jan 7, 2020 9:06pm
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,130
- Jan 8, 2020 9:01am Jan 8, 2020 9:01am
- Joined May 2019 | Status: iTrade | 1,838 Posts
In one hour, President Trump will speak on the Iran conflict. I think there's going to be a lot of retail traders caught like a deer in headlights. Of all the scenarios, I see the most likely one as this being the end or near the end of the conflict. Iran has established that this was the retaliation. The US has no reason to retaliate since there were no US casualties. The recent gains in gold are directly related to the uncertainty and risk of war. Flight to safety could come to an end.
Also, what keeps on sticking out to me like a sore thumb is that during gold's recent rally when volume has come into the market, so has selling. 
I'd be careful with long positions here. Gold could be ready to tank.
Also, what keeps on sticking out to me like a sore thumb is that during gold's recent rally when volume has come into the market, so has selling.
I'd be careful with long positions here. Gold could be ready to tank.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
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- #54,131
- Jan 8, 2020 11:16am Jan 8, 2020 11:16am
- Joined May 2019 | Status: iTrade | 1,838 Posts
It sounds like any flight to safety related to the US-Iran tensions are over. If so, there's more downside risk. As shown in the chart below, Gold touched Friday's closing price and bounced. That was around $1555. 
However, the assassination of the Suleimani was earlier than that, when gold was closer to $1530. Gold is heading lower.
However, the assassination of the Suleimani was earlier than that, when gold was closer to $1530. Gold is heading lower.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
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- #54,133
- Jan 8, 2020 11:25am Jan 8, 2020 11:25am
- Joined May 2019 | Status: iTrade | 1,838 Posts
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
54.4%
- #54,134
- Jan 8, 2020 7:32pm Jan 8, 2020 7:32pm
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,135
- Jan 9, 2020 9:33am Jan 9, 2020 9:33am
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#SILVER / H4 
- #54,136
- Jan 9, 2020 9:34am Jan 9, 2020 9:34am
- Joined Apr 2019 | Status: Trader | 3,132 Posts
#GOLD / H4 
- #54,137
- Jan 9, 2020 9:57am Jan 9, 2020 9:57am
- Joined May 2015 | Status: Observer | 1,981 Posts
We err, and err, and err again, but less.
- #54,138
- Jan 9, 2020 4:19pm Jan 9, 2020 4:19pm
- Joined May 2019 | Status: iTrade | 1,838 Posts
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return:
54.4%
- #54,139
- Edited 6:40pm Jan 9, 2020 6:09pm | Edited 6:40pm
- Joined May 2015 | Status: Observer | 1,981 Posts
{quote} We may still hit the 1531.xx level...let's hope {image}
Daily
We err, and err, and err again, but less.