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

Silver prices continue to show strength as Silver future prices nearing 31 USD, and settled on 30.7 USD/ t. oz., a 1.26% increase.

Silver prices continue its rally as it rose by a total of 8.5% from the beginning of the month until yesterday.


Gold prices, much like Silver prices, also increased yesterday, however much more moderately, and it rose by 0.08% and settled on 1,414 USD/t. oz.

h & s pattern on H1 / H4 chart XAU ? Does this mean a mid-term Short would be recommended ?

Gold and silver growing higher at 1409 and 30.7 respectively ... tomorrow is the last day the of this year... next week we erase what we just saw and start off over.

Happy new year everybody and I wish all of you good and profitable trades for 2011

Happy new year !!!

See you next year


Enjoy the parties, eat and drink moderately.

Silver prices after rising this week above the 30$ mark, yesterday it cooled down a bit as it fell by 0.62%; a similar decline was registered for Gold prices yesterday.

Gold just broke 1414 resistance

Is anybody worried that both gold and silver will experience some sort of correction due to the massive rise in price that has taken place since August? It seems to me that with silver's 66% rise, investors will take profits and push it lower in the near future. I know this question seems very basic, but I just think gold and silver are overbought right now.

need some comments here,

Anybody thinks that Silver will get another round of correction? ( like the one in early December )

I want to enter positions but there are almost no pullbacks for me to enter safely......

First, I just wanna say happy 2011 and I wish happiness, freedom, money and health to everybody reading here !

Well, for the moment, it seems like gold and silver are finding some support. Silver is still 40 % below its all time high not adjusted to inflation. Hedge funds worldwide are buying silver putting pressure on big naked short sellers as JP Morgan.

Also,things are going a lot worse in the US months after months so the Dollar crisis is imminent with the bond bubble. At this point, many people want to get into the precious metals market as you are doing. I hope you'll get a decent entry point but be aware of correction that you might want to profit...

I'm not sure if I'm quite answering your question... but still I don't think that paper currencies are much worth for wealth protection.

Firstly, thanks for your reply and Happy New Year too !

Sorry i dont quite get this part.
but be aware of correction that you might want to profit...

Right now i have 2 entry methods, one is just entry straight away, setting my stop loss at $28.

the other one ( preferred ) were to wait for a more significant pullback or correction ( i missed the previous one ) , and enter, prefably at 29.45 or 28.96..

But i am not sure if the price will ever go back to 29.45 or 28.96 because the only direction for Silver to go is up it seems....


Yea paper currency ( mine's Singapore Dollars ) will be worthless but I hope to accumulate more wealth to buy more real estates/ silver/gold.

Since you're not using technical analysis why not just invest a set amount every week or month regardless of price - cost averaging....

beeb

Anyone ever seen moves like this in other instruments? I can't image that this can keep going up for ever without a correction... If anyone has another example of a move like this and how it corrected, that would great. I know we got some trading vets out there.
MONTHLY Silver

.

if you can look at the copper chart over the last month as well.

siver closing like she wants to continue to climb.
areas of extra interest this month.
32.60-34.64
26.27-27.44

lilpip

am new to this thread.
any reasons you can share for those levels?

thanks

beeb

im looking at the charts and ranges of the different time frames.
yearly, quarterly,monthly weekly
and using floor traders pivot .

ok - i'm assuming those are horizontal levels.....

thanks

beeb

can we se a correction of 10 to 15 %? if we draw a trendline on weekly chart it shows us by february gold could fall to $ 1280,,

what has broken out of its yearly range and doubled the previous years range?

I am a rookie in my eyes and undisciplined but this is what I see.

last years estimated silver range as I consider the last 3 years @ 2009 close
21.98
15.52
9.00
with a breakout of the yearly range just as we see on the smaller time frames we look to the entire length of the range of the last timeframe to double which in this case happens to be the yearly.

2009 h 19.42
2009 L 10.30
a $9.00 previous year range, add that to 21.98 area and it makes the estimated 30.98 area.

she closes like she wants to continue, will have to watch day to day but looking for correction @ 32.40- 3460 area, if not lets double last years range again this year which will put us at $51.00 area.


last years 15.00 area (yearly pivot) is $23.40 area this year, and lets hope it gets that low so we can buy a bunch more otherwise at this point Im looking at $26-27 before we get there.

bias for week is up from 30.00

looking for direction this week from e/u 3375

Happy new year ALL!!!

The bull rages on! Long Gold and Long oil. Looking to diversify this year into cotton and sugar hopefully...

Anyway how's everyone doing?

Positions?
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