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Gold Discussion

  • #721
  • Oct 28, 2009 2:49pm Oct 28, 2009 2:49pm
Seeing strong correlation between the dollar and gold right now as the dollar continues to rally for the fifth straight day and gold continues to decline. At this point it appears that buyers expect more selling and are waiting on the sidelines until this correction exhausts itself. Institutional investors decreased their long exposure the week of Oct 20 by 2% and we will probably see additional declines this week.
  • #722
  • Oct 28, 2009 5:45pm Oct 28, 2009 5:45pm
Quoting Pirin
Retracement : sell @ 1040.62, target -> 1030.95 ,1000 pips
This is the reason I don't use stop losses.
  • #723
  • Oct 28, 2009 9:44pm Oct 28, 2009 9:44pm
Quoting The Fool
But will you trade it?

Would a break of the bear flag shown on the H3 chart be a good short entry?

How about a touch or break of the U/Z UTL?
No. I wouldn't touch anything right now. It's silly season until the GDP comes out. Look at the motherfuckers in Goldman and other slimy outfits - they are confused, spewing rubbish that jeapordizes their longs and their shorts.
  • #724
  • Oct 29, 2009 10:52am Oct 29, 2009 10:52am
keep selling guys :d

Ub
  • #725
  • Oct 29, 2009 5:51pm Oct 29, 2009 5:51pm
Paul Tudor Jones, managing $11.6 billion, is suddenly bullish on gold as he is concerned with inflation and increased purchases by ETF funds. Gold is just about flat today.
  • #726
  • Oct 29, 2009 8:37pm Oct 29, 2009 8:37pm
I bought 200 ounces of gold @ 1039.45, could have bought it alot earlier.. but wasnt paying much attention to it.

http://img442.imageshack.us/img442/5634/goldz.gif
lowest draw down possible please.
  • #727
  • Oct 30, 2009 1:52am Oct 30, 2009 1:52am
I posted my daily chart for Oct. 29, 2009 on my blog
  • #728
  • Oct 30, 2009 6:24am Oct 30, 2009 6:24am
Can anyone of you fellow traders tell me, where can I find free live feeds (diagrams) of Gold, Oil and NYSE? I am trying to find them on Metastock but I can't!

Any help will be much appreciated!
  • #729
  • Oct 30, 2009 1:05pm Oct 30, 2009 1:05pm
Gold continues its orderly descent in price, but there are so many dollars, pounds and euros being printed that real assets will go up in value. Anyways, there is a seasonal low in this part of the year and with gold appreciating for a second monthly gain, a consolidation period is to be expected.
  • #730
  • Oct 30, 2009 3:40pm Oct 30, 2009 3:40pm
Quoting twamta
Can anyone of you fellow traders tell me, where can I find free live feeds (diagrams) of Gold, Oil and NYSE? I am trying to find them on Metastock but I can't!

Any help will be much appreciated!
Many MetaTrader (MT4) Forex brokers offer free demo accounts with full-scale chart on Oil and Gold (and some NYSE traded stocks too). Try FxCompany for example. You just download their platform and install it. No need to register anywhere.
  • #731
  • Oct 31, 2009 12:49pm Oct 31, 2009 12:49pm
Quoting enivid
Many MetaTrader (MT4) Forex brokers offer free demo accounts with full-scale chart on Oil and Gold (and some NYSE traded stocks too). Try FxCompany for example. You just download their platform and install it. No need to register anywhere.

Enivid thanks for the info!
  • #732
  • Nov 3, 2009 7:36am Nov 3, 2009 7:36am
some companies make you pay for demo, u should not, so just in case!
Anyhow, the gold trading is great lately as the usd is being sold off, the volatility is quite low, so go ahead traders,
  • #733
  • Nov 3, 2009 10:19am Nov 3, 2009 10:19am
I was expecting a lower high - guess I was wrong.

Updated chart posted on my blog
  • #734
  • Edited 1:15pm Nov 3, 2009 11:24am | Edited 1:15pm
Seven reasons why gold will surpass $2,500 & inflation isn't one of them:-

1. Decreasing mine production
2. It's getting harder to find
3. Investment demand
4. Central banks are buying
5. Push for gold-backed currencies
6. Exploding demand in Asia
7. Gold is in a secular bull market

*Courtesy of Peter Krauth, Money Morning, 26 Oct 2009

I see gold at $1,300 & $2,500 by the end of 2009 & 2010 respectively!
  • #735
  • Nov 3, 2009 12:59pm Nov 3, 2009 12:59pm
Quoting The Oracle
Seven Reasons why Gold will Surpass $2,500 & Inflation isn't One of Them:-

1. Decreasing mine production
2. It's getting harder to find
3. Investment demand
4. Central banks are buying
5. Push for gold-backed currencies
6. Exploding demand in Asia
7. Gold is in a secular bull market

*Courtesy of Peter Krauth, Money Morning, 26 Oct 2009

I see gold at $1,300 & $2,500 by the end of 2009 & 2010 respectively!
yea i heard the indian central bank bought a lot of gold today this is clear evidence of wht the central banks r actually doing
  • #736
  • Nov 3, 2009 3:01pm Nov 3, 2009 3:01pm
Quoting The Oracle
1. Decreasing mine production
2. It's getting harder to find
Not very true. As I have previously mentioned. The cost of 1 ounce mining and production in a not-so-effective economy is about $350.

Quoting The Oracle
3. Investment demand
4. Central banks are buying
6. Exploding demand in Asia
7. Gold is in a secular bull market
Bubble arguments .

Quoting The Oracle
5. Push for gold-backed currencies
Heh? Gold-backing won't work well for any major currency in the world now. And non-major currencies won't matter much.

Interesting question is what will happen with jewelry industry if the gold reaches $2,500 without an inflation factor?
  • #737
  • Nov 3, 2009 4:49pm Nov 3, 2009 4:49pm
What a day..
maybe someone have an elliot wave analysis ?
  • #738
  • Nov 3, 2009 11:47pm Nov 3, 2009 11:47pm
Seven reasons why gold will surpass $2,500 & inflation isn't one of them:-

1. Decreasing mine production

This is not true from what we see. We are getting offered dore from all sorts of upstart mines in west Africa. China is expanding mining capacity daily

2. It's getting harder to find

Back up this statement

3. Investment demand

Yes, there is a demand, and there is a lot of hype around it as a hedge against inflation, a new "must have" holding for hedge and pension funds, and a lot of hype around retail market. Question is does the demand have merit or is it the B word?

4. Central banks are buying

Yes, India yesterday, and who knows who tomorrow.

5. Push for gold-backed currencies

Who is pushing?

6. Exploding demand in Asia

Asia has always been the largest gold consumer. I would not say "exploding", growing yes, but "exploding"?

7. Gold is in a secular bull market

Arguable

*Courtesy of Peter Krauth, Money Morning, 26 Oct 2009

I see gold at $1,300 & $2,500 by the end of 2009 & 2010 respectively!

Not sure about those numbers. I see 1200 soon (maybe end of year if we are lucky) and 2010 who knows......could stabilize well below 2000 (even 1200). But 2000 is possible. 2500 seems a little aggressive........just my two krugerrands
  • #739
  • Nov 4, 2009 1:00am Nov 4, 2009 1:00am
Any thoughts for today?

As usual London Forex traders desks did their mini reversal this morning. Took it down to almost 1081 and now it's trading at 1083.45

Obviously we have the FOMC Circus today so the price could go all over the place. $1100 looks very close, I wonder if we will see a "push", I guess it all depends on what Mr B says.

They key phrase is “for an extended period”, if he does not say this, it could have a significant impact on the markets.

If gold really IS going to get to $1500 and upwards as some pundits are predicting; due to die state of US finances, one HAS to get in sooner or later.
  • #740
  • Nov 4, 2009 3:05am Nov 4, 2009 3:05am
selling gold/usd...now the gold are at peak...
could it go any further??
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