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

  • #1,101
  • Jul 27, 2010 11:19am Jul 27, 2010 11:19am
Swissy looks like it may dive now and I have taken a short.

I will watch this level (a bit lower than my forecast 1165) yet no chart is perfect, to see if there is a potential rebound long buried in the mess...

Currently Spot XAU is trading around 1161
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,102
  • Jul 27, 2010 1:19pm Jul 27, 2010 1:19pm
very tempted to get long here for some retracement pips..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,103
  • Jul 27, 2010 1:23pm Jul 27, 2010 1:23pm
its hanging at daily 200MA. lets see.
  • #1,104
  • Jul 27, 2010 2:46pm Jul 27, 2010 2:46pm
Yes, going to wait for tonight's session.

Spot Globex will close in about an hour and a half

Quoting tobias24
its hanging at daily 200MA. lets see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,105
  • Jul 27, 2010 2:54pm Jul 27, 2010 2:54pm
Xtrade, what time does the Gold market open?
  • #1,106
  • Jul 27, 2010 5:13pm Jul 27, 2010 5:13pm
It is open now.

Look at this chart to see the markets.

I am long from 1163

http://www.kitco.com/images/live/gold.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,107
  • Jul 27, 2010 5:29pm Jul 27, 2010 5:29pm
I did okay shorted 1190.22 and took it out at 1161.38. Still have 2x shorts in play and in profit but will let them run longer term. Scalping now - Long 1161.78. Yet to decide where to take it out. Maybe around 1172-75.
  • #1,108
  • Jul 27, 2010 5:39pm Jul 27, 2010 5:39pm
Quoting XTrade
It is open now.

Look at this chart to see the markets.

I am long from 1163
On the 4H chart there is a tiny bullish pin bar.
I see price has hit the 150 ema on my daily chart and has pulled back to sit above this now.
  • #1,109
  • Jul 27, 2010 8:39pm Jul 27, 2010 8:39pm
LONG XAU/USD x 0.05 lot at 1161.50
LONG XAU/EUR x 0.05 lot at 919.35

Took a beat as I was long at 1180 x 0.10. Broker won't allow hedging.
  • #1,110
  • Jul 28, 2010 12:26am Jul 28, 2010 12:26am
Don't feel bad, hedging should only be used on long term winning trades,
just my philosophy

Gold is flat lined right now. Getting a bit tired of this....

1158 may be tested tonight. I have a short on now after over an hour of waiting. Buying interest has proven weak.

I am looking to cash in on a retest of 1158.

Usually if the price stays in any place for too long, it drops to test recent support for a decisive break

Quoting zamans98
LONG XAU/USD x 0.05 lot at 1161.50
LONG XAU/EUR x 0.05 lot at 919.35

Took a beat as I was long at 1180 x 0.10. Broker won't allow hedging.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,111
  • Jul 28, 2010 12:29am Jul 28, 2010 12:29am
Nice

I am just scalping as well

this Price action is so dead I am only shooting for 150 to 300 pips ATM

Quoting DragonFlyFX
I did okay shorted 1190.22 and took it out at 1161.38. Still have 2x shorts in play and in profit but will let them run longer term. Scalping now - Long 1161.78. Yet to decide where to take it out. Maybe around 1172-75.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,112
  • Jul 28, 2010 12:34am Jul 28, 2010 12:34am
Thanks XTrade. My day scalp was pretty uneventful. Got out at 1163.53 for a grand profit of US$17.50. Looking to short again now.
  • #1,113
  • Jul 28, 2010 1:54am Jul 28, 2010 1:54am
Dumped the short at 1161 for about 100 pips.....

Price action is heating up!

AND finally London will open soon.

I want to buy above appx 1165 for confirmation and sell below 1160/58

we are currently trapped in a ridiculous 3 dollar range. I am focusing my attention closer to my EUR longs and looking at AUD and GBP

the Swissy is bothersome and moving very slowly. Looking for a short yet not certain ATM
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,114
  • Jul 28, 2010 2:11am Jul 28, 2010 2:11am
EURO is breaking NORTH
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,115
  • Jul 28, 2010 2:28am Jul 28, 2010 2:28am
Gold just broke the range.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,116
  • Jul 28, 2010 2:40am Jul 28, 2010 2:40am
Anxious shorts pushed the price back into range....

I don't see this breaking either of the 2 aforementioned levels in the immediate sense.

We'll see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,117
  • Jul 28, 2010 2:54am Jul 28, 2010 2:54am
Quoting XTrade
EURO is breaking NORTH
seems like the CLASSIC LDN headfake!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,118
  • Jul 28, 2010 4:54am Jul 28, 2010 4:54am
Quoting XTrade
Gold just broke the range.
Price is certainly outside the box it was trading in.
Decent size fall yesterday.
If you look left on the chart 1160 has acted as a resistance level a couple of times in the past.
This is $100 off the high.
If price breaks 1160 this would be bearish.
  • #1,119
  • Jul 28, 2010 10:27pm Jul 28, 2010 10:27pm
Gold is climbing up nicely from 1158 area.

A firm break and hold of this current 1165 area should suggest further upward momentum.

Will be watching closely
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,120
  • Jul 29, 2010 9:17pm Jul 29, 2010 9:17pm
This is off the US Mint website


American Eagle Silver Proof Coins

Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Proof Coins were not produced.

The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.

The same goes for gold.

The US Mint does not have the silver and gold to mint coins.
They clearly cannot get their hands on the stuff to keep up with demand so they have just stopped minting.
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