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

let's see how much annual positioning goes on this end of year. so far you'd expect silver and gold to move higher into the new year.

every silver dip is being bought here. hang on if you're long.

edit - gold now too. wasn't before.

waiting for a breakout at 1880 to confirm at 1856 this year / day or week , not any great but at least temporarily! only weekly posing bull but others likely more correct before any further up ! take care

Here is FPA's technical analysis for 4 January.

#GOLD / Weekly

looks like shorts building on gold and silver. this is counter trend of a weakening dollar. so won't expect a hugh drop. i'm looking for 1931 ish.

I think the bulls are running out of steam.

Sold@1,955
SL@1,967
TP@1,915

i closed it much earlier. it did hit the target but i would have been stopped out. all good in the end.

TP hit

well played.

Thank you....it's like a ghost town here. Not much activity, is there?

i note that folk post about gold on the cable thread. i wouldn't use this thread as measure of interest imo.

Yeah, I've seen you around there. May luck be with you.

Another great opportunity to get long XAG/USD
Entry: 27.11

Gold seems to be intent on breaking 1,900...I'm looking to short it, but I have yet to find a good entry.

here we go

We should continue to see institutional flow into gold. Despite any correction, longer term fundamentals still support holding gold.

Today is the biggest daily drop in gold since Nov 9th (so far) even with NFP disappointing. I see this as a shorter term correction.

After the DC/Trump fiasco the markets might be pricing in the end of Trump. All the uncertainty about Trump creating instability is a lot lower if not gone. He's been silenced and forced to accept the election results. There is still uncertainty surrounding covid and how the economy will look even after the vaccine is distributed.

I don't believe that bitcoin is replacing gold as the ultimate store of value, or safety investment, in uncertain times. That day might come but it's not here yet.

The stock market is long overdue for a correction and fundamentally very overvalued. Monetary and fiscal policy can continue to prop up equities, but at some point the market needs to return to equilibrium. Institutional flows into gold is still expected to continue.

Have a great weekend fellow traders!

update.

Theme: Decisive next week , how dollar performs.
Fundamental: Those who are shocked by the gold fall despite the bad NFP data (as generally touted). The most important component in NFP which affects the inflation is - average hourly earnings which is much better than prediction. This gave push to the Dollar.
Technical: at various levels the support system looks fragile. 1840 is still a relevant