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

  • #1,361
  • Oct 3, 2010 12:47am Oct 3, 2010 12:47am
Same strategy here: waiting for 1350 to sell than a pullback to 1260-1270 to enter long again, if it's not gonna hit 1350 and will pullback first it's fine with me,i am not gonna close my positions, i am just waiting for a bigger dip to enter long again.
  • #1,362
  • Oct 3, 2010 3:11am Oct 3, 2010 3:11am
Quoting kandi
Can you tell me how you analyst the chart so you can get number 1150 and 1220?
thanx.
why do you need a chart to give a target?

I just think that gold strenght is all about USD weakness, no fundamental reasons to hold paper for 1300 USD.
I am short from 1311 to 1319, and will add in case gold goes up more, though I don't see new highs soon

I still expect gold to trade around or maybe below 1200 USD at the end of the year, just my opinion, and I don't look at charts, if you look at it, you only see a clear uptrend

but sentiments are short termed and don't last forever
  • #1,363
  • Oct 3, 2010 3:13am Oct 3, 2010 3:13am
Quoting CostaRica
Do u think that 1350 is highly possible? or you still keep your guess around 1318? Thank u.
yes is possible of course, but I don't expect new highs next week, maybe one more or close to the recent high and then drop
  • #1,364
  • Oct 3, 2010 3:21am Oct 3, 2010 3:21am
1300+2.7% = approx 1.618 FIB extention shown on chart
Attached Image (click to enlarge)
Click to Enlarge Name: lgd.jpg Size: 123 KB
I have no enemy; I make Incautiousness my Enemy.
  • #1,365
  • Oct 3, 2010 4:42am Oct 3, 2010 4:42am
Just for fun,here is a chart detailing Goldman Sachs 12 month Gold forecast from December 09 to December 10.Their reasoning is also written on the chart.This was reported to FT Alphaville on 3rd December of last year.
Attached Image (click to enlarge)
Click to Enlarge Name: GSGOLD.jpg Size: 86 KB
  • #1,366
  • Oct 3, 2010 4:54am Oct 3, 2010 4:54am
I see that every move to new highs, there will be pullbacks. Great for bargain hunting. Sentiments are building around the weakness of the Dollar. We should see higher perhaps to 1350. IMHO.
  • #1,367
  • Oct 3, 2010 9:03am Oct 3, 2010 9:03am
The long term uptrend is intact and will stay that way due to the uncertainty in Global markets, protection against irresponsible currency printing, currency devaluation by central banks, the desire to own a tangible asset that produces a return quarter after quarter and now, year after year.

At this point even a $300 correction, will merely bring the price of Gold o around the strong support line at 1050. Still not derailing the longer term trend.

You see there are far more reasons Gold moves and sustains it's path then simply a weak dollar. Gold is in a sense a Global currency.

THe reason why one would use a chart for a target is to show why or rather how one has decided on a possible price point. Otherwise one may use a fundamental reason, yet if neither are considered a target simply thrown out there is at best a guess, or what some call a "wild punt."

Look at a 5 year chart. sentiments change in intraday trading, there is always a deeper picture.


Quoting fammira
why do you need a chart to give a target?

I just think that gold strenght is all about USD weakness, no fundamental reasons to hold paper for 1300 USD.
I am short from 1311 to 1319, and will add in case gold goes up more, though I don't see new highs soon

I still expect gold to trade around or maybe below 1200 USD at the end of the year, just my opinion, and I don't look at charts, if you look at it, you only see a clear uptrend

but sentiments are short termed and don't last forever
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,368
  • Oct 3, 2010 9:11am Oct 3, 2010 9:11am
By the end of the year and after a possible corrective period we may see gold reach 1400. THe next correction is likely to be bought up by many producing yet another new high.

The stability of nations around the Globe is anything but. Read the headlines.
One bailout after another. Irish banks the latest.

Now, consider this, even when Global market where prosperous and economies intact, Gold still rose in price. Due to simple supply and demand at points.

edit: Longer term targets (say multi year) are still intact and will remain so for $2500 per troy oz
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,369
  • Oct 3, 2010 9:14am Oct 3, 2010 9:14am
gold doesn't care about fibonacci and corrections


Quoting XTrade
By the end of the year and after a possible corrective period we may see gold reach 1400....
  • #1,370
  • Edited 7:46pm Oct 3, 2010 9:29am | Edited 7:46pm
Quoting fammira
why do you need a chart to give a target?
Quoting fammira
I just think that gold strenght is all about USD weakness, no fundamental reasons to hold paper for 1300 USD.
I am short from 1311 to 1319, and will add in case gold goes up more, though I don't see new highs soon
what do you mean here?

Quoting fammira
I still expect gold to trade around or maybe below 1200 USD at the end of the year, just my opinion,
1200 price point would be a minor correction. It is possible we reach this point before rising to 1400. There you should get long.

Quoting fammira
and I don't look at charts, if you look at it, you only see a clear uptrend
right so why try to outsmart the trend? this is a losing battle.

Fammira,
I have to ask how you determine your entries and exits without looking at charts?
Also, How do you come up with these price targets without using charts?

Quoting fammira
but sentiments are short termed and don't last forever
you need to look at the bigger picture here. Gold has been rising for the past 10 years. Is that short term? there are plenty of fundamentals supporting this trend.
http://www.kitco.com/LFgif/au00-pres.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,371
  • Oct 3, 2010 9:34am Oct 3, 2010 9:34am
No most of the time it does not!
Yet markets always correct. I do not see a correction here, we are primed for new highs.

How's the nat gas scene?
Quoting geocatalinfx
gold doesn't care about fibonacci and corrections
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,372
  • Oct 3, 2010 10:42am Oct 3, 2010 10:42am
+1

This is why i never sell gold, it's easier to stay long, as long as you have enough margin to support any pullback. I have a question though: what is the difference between 1kg of physical gold and 1kilo of "paper gold", the gold is something that will be ending one day, but the "paper gold" is not, so i guess we can buy/sell a much more quantity than actually exists in real-life. Isn't this market going to tumble down one day?
  • #1,373
  • Oct 3, 2010 12:45pm Oct 3, 2010 12:45pm
i trade nat gas for 2 years and i can tell you it doesnt work with indicators. sometimes only supports and resistance. and always move a lot on storage data release. and if you catch a hurricane you can make big money.


Quoting XTrade
No most of the time it does not!
Yet markets always correct. I do not see a correction here, we are primed for new highs.

How's the nat gas scene?
  • #1,374
  • Oct 3, 2010 5:15pm Oct 3, 2010 5:15pm
Quoting XTrade

At this point even a $300 correction, will merely bring the price of Gold o around the strong support line at 1050. Still not derailing the longer term trend.
I would love to see a big pullback of that kind in Gold, I would be there waiting to buy... but I don't think this is coming soon.

If prices going down to 1150-1250, lot of supports over there, so that's why I don't see a big drop coming. Everybody is waiting for a big pullback and it's not happening, so when it happens people are willing to buy fast at better prices. Gold has been going up for now more than 2 months without any significant pullback... So a lot a people are waiting to buy more a lower prices
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #1,375
  • Oct 3, 2010 5:27pm Oct 3, 2010 5:27pm
I could not agree more.

Before you started posting here there were a flurry of people coming in and chiming, "gold will reverse after this high, gold is going to drop off, etc etc etc"

THAT was a 1265. We had a small 100 USD correction to 1150,
NOW we are at 1320!

WHERE are all those people now?

There is NO USE IN trying to OUtsmart the trend. I keep trying to tell people this and they don't listen. It get's frustrating.

I had 3 people I told to "buy in" physical Gold at 700 per ozt.
1 listened. And has thanked me hand over fist, the other 2 said it won't break 1000 and wasn't worth it. Now they are kicking themselves.

People have lost their ENTIRE retirement saving in the depression.
Had they owned 1/3 or 1/2 in assorted precious metals they would have doubled or tripled their money by now and be able to retire.

Quoting Bootleger
I would love to see a big pullback of that kind in Gold, I would be there waiting to buy... but I don't think this is coming soon.

If prices going down to 1150-1250, lot of supports over there, so that's why I don't see a big drop coming. Everybody is waiting for a big pullback and it's not happening, so when it happens people are willing to buy fast at better prices. Gold has been going up for now more than 2 months without any significant pullback... So a lot a people are waiting to buy more a lower prices
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,376
  • Edited 7:29pm Oct 3, 2010 6:32pm | Edited 7:29pm
Quoting XTrade
I could not agree more.

Before you started posting here there were a flurry of people coming in and chiming, "gold will reverse after this high, gold is going to drop off, etc etc etc"
And these people going to invest into gold in the future saying it's a great investment while at that time it might be a bubble
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #1,377
  • Oct 3, 2010 7:43pm Oct 3, 2010 7:43pm
Not a bubble at all. Any market is vulnerable to correction.

Look at silver, platinum, palladium and copper, GOLD is just another precious metal (copper = base metal) moving in line with all the rest. up down, up up up.

Now that I am done moving I can post again a bit more.

I will be buying the next dip, if possible I'll post my entry, exit and stop.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,378
  • Oct 3, 2010 10:18pm Oct 3, 2010 10:18pm
Quoting XTrade
what do you mean here?


1200 price point would be a minor correction....

hi Xtrade,

agree with you on the long term strong uptrend

don't agree that we should keep buy gold above 1300, yet these levels could provide a good short opportunity to re-enter long below 1200

remember that USD weakness is the main reason of gold strenght in this month, while last year economic recession was the trigger.
since you like referring to charts, have a look at the XAUEUR chart and you will understand what I mean

Once european and american central banks will start rate hikes again (Fed especially), Gold will lose its appetite.

Sentiments don't last forever, for the simple reason that profit is always seen on both parts of the market, even more when the main trend is strong, you can expect a strong counter trend move sooner or later
  • #1,379
  • Oct 4, 2010 12:15am Oct 4, 2010 12:15am
I'm looking to buy silver when I find a decent entry. Would love to hold longer term if I can and make some nice profits. It hasn't had the huge run Gold has had and has potential for some nice gains.

I trade Gold too but more on the shorter term where I can bag some quick profits.
  • #1,380
  • Oct 4, 2010 2:26pm Oct 4, 2010 2:26pm
Quoting MegaTraderIB
I'm looking to buy silver when I find a decent entry. Would love to hold longer term if I can and make some nice profits. It hasn't had the huge run Gold has had and has potential for some nice gains.

I trade Gold too but more on the shorter term where I can bag some quick profits.
What's a decent entry point for you in silver?
US Dollar is trash... Get out of that Ponzi scheme !!!
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