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

Folks around the world are throwing away their US Dollars but also their euros at the moment. These euro sellers are placing their money in gold instead of euros.

Still, we just saw China and Russia announcing that they wont be trading in US Dollars anymore but in their own currencies. China is moving quickly out of the US Garbage. Fiat currencies going at their intrinsic value...

Well, at least, most folks here are awake of that... but in the mass population, you don't see anybody owning gold, knowing the gold price etc... There's a long way to go before we call this a bubble haha

we could go to 1380 for short time , but at these levels I see the resistance of big decreasing channel

Holiday. Not expecting too much.

Set 1388 sell (next Fib level up, on spike), 1350 (next fib down and place of previous supply)

My Gold H4 analysis

Spike from last night

dont know why gold drop so much just now ???

Closed out all of my longs. Last one from 1370 unfortunately in minus. Overall 2k pip profit


Edit: wish all nice weekend, im done for today

Never Long and Never use SL... GO Gold GO

next target 1346.50

so that you can buy some more

came down hit nicely 23.6%fib at 1352.3 and dxy coming off DH. DR done at $23 but this is looking more like H&S forming up.

did a sell from 2359 and 2 buys from 23.6% but not chasing this further

looking to sell for longer hold if it can get back to 18DMA now at 1372

aud nzd CL also off lows.

Morning to all ,
just a update

http://www.forexfactory.com/showpost...postcount=2231

not a bad progress in terms of direction of movement ,pa & not great fall also by this time from 1382- 1350 only so far . some down movements may next but will expect it up again above 1387 to 1414 before fall again .
Thanks , fontu

One question...why do they have to announce ,with the big drums, that they will print 600Bln$ if they know that it will harm the economy? Why can't they just print the damn money and keep quiet about it?

Possible HEAD AND SHOULDERS forming on mid term charts,

I will add a chart but have run 4 now. please refresh or see new post before end of weekend.

IT ;could pan out and create a nice short. Sorry for any typos I am on my new wireless mac keyboard!!

Its a full fledged currency war & so they apply both conventional & unconventional strategies, test a propaganda is one such .let do any , currencies continued devaluation below paper levels , cost of the paper it carry more than the values added & ultimately not circulate in the market , go higher notes become the minimum lower .

So gold up up & up in all theses cases, gold traders should be happy with the news .

fontu

Hmm, this 600bln $ printing only shows that the US Economy is not going to get better, because if it did, this would never happend, i think that if they had a strong solid plan to boost up and have a flourish economy, they could've sold some of the their 8000+tones of gold with the risk of diminishing the reserves, but hey, they know the plans they have are crap so they're not dumb to sell it.

Ben is saying to the American people, I'll rise your cost of living and it's going to help you. American people just not realizing that their grocery bills are just getting higher everyday. Also, what are they going to do with oil again above 100+, 150+ ?

All these American people having a lot of US Dollars and bonds thinking it is safe are going to be wiped out.

We love Ben