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

Of course they are !!

Complete crap that is! Retail Physical buying has been extremely high,
In the EU due to greece, The US mint cannot keep up with demand.

The Aussies are working nite and day to pump out as many Kruggerands as possible.

THey are probably bidding on several metric tons!

Some pics to accompany
http://www.usagold.com/gold/coins/pi...rugerrand.jpeghttp://upload.wikimedia.org/wikipedi..._Proof_Obv.pnghttp://upload.wikimedia.org/wikipedi..._Proof_Rev.png

NOTE : The Darker complexion of the KRUGs is due to the coin being minted with a small percentage of copper added, for durability.

It does not decrease the Gold weight, there is still 31.1 ozt of AU in a Krug, yet alloyed with CU thus if melted the coin would not be 999.9 or "4 nines fine."
If I remember correctly Gold American Eagles are only 22 karat Gold, not 999.9 or 24k pure gold such as the BARS posted below. Still these coins will fetch a premium and retain,
sometimes above spot on resale due to the government guarantee. Many are attracted to coins for this very reason.

If you ask me who manages money "correctly"
(take with a salt grain) I'd go with Credit Suisse! Before any nations government...
HMMMM.....
:nerd:

That gold is making my mouth water.

I prefer bars (namely Swiss or "Suisse" LOL)

THis was a small treat - Preferred bar called a Maxi-Gram,
or Large Gram - they come in 1gm 2.5gm 5gm 10gm and 1 OZt

Here is the 5Gram and the 1 ozt.
PAMP makes one of if not the finest Gold products available today.
(Design, Purity, Packaging (come in laminate assay) overall quality and delivery of product are top on all fronts.

For those looking to start buying physical gold, these "mini and maxi" gram bars are a great way to get in that won't break the bank.

Premiums can be considered high in comparison to the amount over spot for one oz, However, the point is having gold or not, these are an option for not spending 1230+ at a clip for 1 bar. Sort of like scaling into a position. Many of the same rules apply to dealing in physical gold as do trading the paper counterpart.

Also, the smaller size adds to liquidity, always good to buy products that will resale easily and/or are desired by others. In the end Gold is Gold, yet if you have created a little dealing market, it is possible to sell higher than one might to a refiner or dealer.

Bars like this should NEVER go to any refiner and always be re-sold to someone looking.

http://www.apmex.com/Resources/Catal.../19043_obv.jpg http://www.apmex.com/Resources/Catal.../11951_obv.jpghttp://www.apmex.com/Resources/Catal...30945_Slab.jpg last one is a 10 oz

The competition:
Nice size here 20 gram
http://www.apmex.com/Resources/Catal.../46777_Obv.jpg http://www.apmex.com/Resources/Catal...57162_slab.jpg

Hello to ALL! I will also be adding these links to the FIRST post in this thread. (When I have a minute) For ease of use.

Posting a NOTICE:

Traders should always be aware of the specific dates of
FUTURES:
a. GC GOLD (This is the standard cntrct = 100 oz) = Settlement
b. QO miNY GOLD1. Futures Contract Expirations / "Settlement Dates".
c. SI SILVER = Standard Contract Settlement
d. SI miNY SILVER = Settlement

2. Options Expiry

CME website

I will be editing this post and adding links to where the exact dates can be found on the CME website for futures.

As well as a link for options.

These dates may produce:
A. Large volume buys and sells
B. Whipsaws
C. Nothing - On time traders will roll over before hand, yet these dates can move markets and it is something to be aware of.

We are in a tight $10 range for gold for over a day now.

Top 1236.50+
Bottom 1226.50 flat.

now just above median flexible support or resistance line @ 1232.50

No real sellers, buyers waiting for dips and on the majors.

Be careful here. Don't fall for fakeouts and if in doubt stay out until one of the above mentioned prices is broken with force.

For those looking to start saving real money in the form of Silver and Gold Bullion, this is the plan.
(PLEASE NOTE THIS IS NOT A SALE OR PROMO OF ANY SORT _ NOTHING is exchanged between members at FF- JUST a guideline for new PM investors to follow to embark on the ship)

OK, from a post that Six Gun, I believe made and one of my own strategies,

I am going to start a new silver stash metal buying program for those that want to own physical bullion. (YOU Buy the metal - on your own from your own sources - now that that's out of the way)

The way it will work is VERY SIMPLE.
(I will follow these very rules starting this week)

Each week you (this is for YOU not me - I get nothing) are required to buy no less than one and no more than 3 (or acquire) either of the numbers in ONE
oz Troy .999 silver for buy and hold. This can be bar or coin or 90% US coins.
No sterling.

Requirements are simple too:
1. Notebook and Pencil
2. Safe storage for your metal
3. A dealer you can go to in person or order from with Ease and Low cost,
online.
4. No withdrawals no matter what. Until January 2011.

That's it.

Please feel free to ask for advice on the thread and anything else that you may ponder.

Dates: July 2010 thru to Jan 1st 2011 - 6 months
Early start is this week.

By the end you will have acquired 30 + ozs (troy) of AG. yet your pocket will never know the difference.
With spot currently @ appx 18.50 x 30 ozs you would have $555usd in savings.

One thing I must stress here is to remember DOLLAR COST AVERAGE (of your metals) Say spot is up to 19 and you need an oz? You say that's too high, then miss your
"deposit" well, 2 things can happen;
1. Spot goes up to 20 next week and you kick yourself for not buying at 19. Possibly spending a buck or 3 more than you would have.
2. Spot goes down next week and you BUY again, at 17. In turn bringing your AVERAGE cost per oz DOWN. Now, maybe you buy 2 or 3 AG bars.

Follow the charts intra-day, With a ground on the daily. Many dealers will use LDN fix. Many won't. See the reasoning in

6 months @ 4 Weeks per month = 24 + add 6 extra ozs for the times you buy 2.

Point:
1. To add to or begin a silver personal savings account.
2. To help understand trading, timing orders, the importance of entry,
and spread or premium in this case.
3. You will possess a tangible, Precious metal, used as a store of value, was used in as currency only say 40 odd years ago in the US, used in multiple industry applications.

If no one is interested in taking this wonderful step or adding to current,
NO Problem, - I am starting this week and will post each week to come.

TOMORROW, we can discuss how, you can use your trade ideas and charts in the physical world. As well as obtaining silver and spending 0 dollars.

XTrade

I agree buy a coin a week, a coin a month, and your silver nest will gradually grow.

What you describe is price averaging. If you invested your silver money all at once you might get a nice low price, but you might get a higher price, it is pot luck. By steady buying you catch the peaks and troughs. The chance factor in buying at a reasonable price is diminished.


As I mentioned earlier I can buy gold at very little above spot price but silver is something else.
In the UK bullion gold is investment gold which does not attract purchase tax (VAT) but silver does.

I see lots of silver around. To match spot price in sterling (not silver) - ££££ the price has to be around £12.50.

There are plenty of silver coins and bars, but the prices are above £12.50, sometimes way above this price. I am looking to buy around spot price.

You will only cover the US I presume but where in your experience are the best places to buy silver?

Tomorrow i will look at some of the dealers I like and see if any ship internationally.

I have a friend I do some trading with in Sweden.

We can discuss other options via PM tomorrow.

Odd that VAT applies only to silver, perhaps if the purchase is large enough it may not?

We could switch the plan to Gold also if people like....

Time to rest!

I have bought my gold from Germany in 25 nov 2009 and the delivery was pretty quick.If you want i can send you a PM with dealer's contact details.

I can get gold at a little bit above spot price it is the silver I have a problem with as the price of bars/coins is several dollars above spot.
I am looking for the lowest price source.
I guess you could go for scrap silver but then you can't be so sure of purity and it is just messy unless you took it to be melted into a bar and then there is the cost of that.

sorry guys, but does anyone of you think we could see this week lower than 1230? I made a terrible mistake last night shorting under it...and now I am really blocked and can't function anymore. this week's PA completely messed me, lost more than 10% in a couple of days..grrr

Hey,

There is a possibility on a corrective dip a spike may pass through 1230.
Otherwise the trend is UP. By means of Sideways movement then Break north. We are on the way to a new high.

I tried to warn you guys about the shorts. Please remember All shorts are simply counter trend. Some may yield profits, yet the trades to be on are the longs.

If you wait a bit, there may be a small correction coming then new high.
Or we move sideways

I think anyone with an open euro/usd, usd/gbp position for the past few days could see the gold has been carried up by the dollar weakness, yesterday and today were bad for the dollar.

The euro will eventually go down again as the news that's coming out of Europe is just a smoke chain to try to hide the terrible economic problems surrounding the Union, and the momentum the dollar will gain from that will eventually take the gold down.

but the mid to long term trend continues to be up.

thanks for your replies...actually I had a pretty good long position at around 1232. Then, yesterday at 16:30 gmt I got scared when it suddenly touched 1227, so I changed directions, and the rest is history. My mind just can't recover since then... I think I should not play for a while....

The trend is up.
The trend is up.

There is a way to play without touching and that is to accept large draw downs.
You know the trend is up and has been up since 2001.
There is every reason for the trend to continue.

You would need to scale down your position, pick a low point in the trend and go for it.
The trend being up will be profitable - there would be times your profits will diminish and others they grow.
In the end you will have more money in bank and then you can increase the size of your position and so on and so on.

The tortoise won the race not because he was slow, but because he was steadily ever moving forwards.

Well the gold price almost smacked its head on the highest ever price this afternoon in the UK.
From the chart with the ascending triangle on, it was getting tighter and tighter in that wedge.
It popped up today - we had expected this to happen in the next few days but it happened today.

Silver also took a jump up in price - this caused a draw down for me.
There is another step up it could take -and I have a stop to take me out before then.
I would let it go up and then short it towards the top when it is coming down.
If it does not take the leg to 1950, I expect price to fall in the next few days.

A new high on its way...

XTrade r u still holding on the long @ 1217 ?

Do any of you have open positions now... If yes, whats running on your mind...

I don't have an open position right now.

What I would like to do is stick a small sum on at a nice low in the trend and ride with it, topping up as the profit accrues.

This trend is not going to go away.
Gold and silver will explode, especially silver and I would like a permanent long on this.
I am prepared to take draw downs within reason to stay in the market.
Otherwise you have to watch the price like a hawk and the time you are asleep or away the price will rocket and you will be totally pissed with yourself.

I expect a bit of profit taking - Price has made a $15 run this afternoon at the all time high and it will have another go at it sooner than later.
If it doesn't make the high it may well fall away like it did before before a third time lucky blow out.

Shorting gold RIGHT NOW. Top for the year? No.