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

  • #3,201
  • Mar 1, 2011 1:48pm Mar 1, 2011 1:48pm
highest gold price ever recorded in the history of man......

1432.50
  • #3,202
  • Mar 1, 2011 1:59pm Mar 1, 2011 1:59pm
Gold prices and their highs can vary.

The most actively traded GC futures contract has different highs and lows than the spot market. Although they are only usually a buck or two, when you are looking for an exact number it makes a difference.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,203
  • Mar 1, 2011 2:03pm Mar 1, 2011 2:03pm
And yes the spot high has a new record I am getting 1432.51 from one broker.

lets check the futures market
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,204
  • Mar 1, 2011 2:11pm Mar 1, 2011 2:11pm
Quoting XTrade
And yes the spot high has a new record I am getting 1432.51 from one broker.

lets check the futures market
its quite possible we could fail here on the first attempt. may take a day or to to push through and close above the old high. time will tell i guess.
  • #3,205
  • Mar 1, 2011 7:53pm Mar 1, 2011 7:53pm
not a straight way but this is the goal imho ...
good luck
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  • #3,206
  • Mar 1, 2011 8:56pm Mar 1, 2011 8:56pm
The price of gold when adjusted for inflation is nowhere near an alltime high. And yet one of its strongest selling points is as a hedge against inflation.
  • #3,207
  • Mar 2, 2011 2:03am Mar 2, 2011 2:03am
As the dollar weakens and gold gets more expensive you are locking in purchasing power.


Put it this way.
you bought gold at 700 USD at this time a loaf of bread cost 200 USD.

Gold is now worth 1430 lets just say 1500 for arguments sake and the bread costs 300.

You do the math.

Not to mention the price of services which one can cash in their Gold for fiat currencies which have dropped, or for instance the price of a house.

You bought gold at 200 it is now 1400. House you wanted in 2006 was
300,000 now house in 2011 is 200,000. Again you do the math.


Quoting SunTrader
The price of gold when adjusted for inflation is nowhere near an alltime high. And yet one of its strongest selling points is as a hedge against inflation.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,208
  • Mar 2, 2011 2:05am Mar 2, 2011 2:05am
Still sure about this?

Quoting SunTrader
Well I am thinking down next week for XAUUSD might be the way.

Based on prior resistance amid declining volume. But I won't act on it till there is at least one daily lower close:
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,209
  • Mar 2, 2011 2:06am Mar 2, 2011 2:06am
Another one/

thanks for the recommendation but I'll stick to my longs.

Had I sold I would be near a stop out. Instead I am sitting pretty on three longs after cashing in the first three at 1375 area when no one else was.
Besides maybe riko
Quoting mmudasir
gold is going down my recomendation is selling gold it is time to reversing for more details email me.. in the 15 minutes chart harmonic w pattren is visible and confirm in 1 hour charts is confirming too head and shoulder with harmonic weekily pivots are shouing resistance area..so we looking to reversing ...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,210
  • Mar 2, 2011 2:11am Mar 2, 2011 2:11am
http://www.safehaven.com/article/20145/sunny-days
  • #3,211
  • Mar 2, 2011 2:21am Mar 2, 2011 2:21am
Somewhere I said this slow and steady move will be the one to take out the highs. And here we are.

When I find it I will quote it!!!

In any case WOO HOO!!! NEW HIGH

1500 HERE WE COME!!!!!!!!!!

Oh what a coincidence some asshole on TV wants to buy my gold for under spot because it's at record highs.

I wonder why they want to buy....................
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,212
  • Mar 2, 2011 2:24am Mar 2, 2011 2:24am
Gold = One day one bar all highs broken and silver is still HOT!


I may even load up on some physical before we hit 50
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #3,213
  • Mar 2, 2011 3:06am Mar 2, 2011 3:06am
Im going to try and hold my long position into the high 1400's.(would be my biggest trade ever) I will also buy any pullbacks if the charts lines up for me.

Im afraid i just dont get shorting here, gold his making new highs, momentum is clearly up on basically every chart timeframe. were in a beautiful trending market and there is money to be made, and i will be happy to trade it as long as it lasts.

On the other hand im not buying into this gold will be up for ever business.

A couple of years ago i was speaking to someone who i was working for. they were talking about house prices and the cash that had happened in 2008. they said and i quote "who ever thought house prices would come down" and this person was the dean(head) or whatever of a university!

its this blindness to the alternative that gets people in trouble. At some point gold may/will simply become over valued, and when the market realizes this the will be the same people saying "who ever thought gold would come down"

Anyway i try not to make predictions, so for now the market is going up, i will go long if given a chance.
  • #3,214
  • Mar 2, 2011 3:10am Mar 2, 2011 3:10am
hello fellows.gold is still in the pitchfork.first it wedged then jumped upward
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  • #3,215
  • Mar 2, 2011 3:11am Mar 2, 2011 3:11am
Quoting XTrade
Another one/

thanks for the recommendation but I'll stick to my longs.

Had I sold I would be near a stop out. Instead I am sitting pretty on three longs after cashing in the first three at 1375 area when no one else was.
Besides maybe riko
good luck
  • #3,216
  • Mar 2, 2011 4:14am Mar 2, 2011 4:14am
fantom - nice lines on your chart

can you tell me what the A point on that pitchfork is as I can't place it...

thanks

beeb
  • #3,217
  • Mar 2, 2011 4:16am Mar 2, 2011 4:16am
Highlander2, i hear what you are saying about supposedly intelligent people getting taken out by thinking housing prices would just keep rising back in 2008. There were plenty of alternative media sources screaming out that the housing markets were going to crash long before they did. Those supposedly intelligent people listened to the mainstream media and the politicians (Normalcy Bias) who never saw the crash coming and they are the same people who are still listening to the mainstream media and politicians who now claim to know how to fix the problems they helped create. The definition of insanity: doing the same thing over and over again but expecting a different outcome.

When we look at gold prices, the mainstream media has been saying gold is too high,lots of supposedly good analysts have been saying gold is too high and can't go any higher and they have been saying it for a long time now. THEY ARE WRONG and have been proven wrong. The mainstream never saw it coming but now they want to tell us how high its going to go!!! Morons.

IMHO, to succeed you must take the contrarian approach. I never listen to the mainstream media, EVER.

Like you say, gold will come back down at some point, but its anybody's guess when, all you can do is protect capital at likely revesal areas.

I've a feeling that gold permabears are going to get repeatedly hurt.
  • #3,218
  • Mar 2, 2011 5:13am Mar 2, 2011 5:13am
I still fail to see why, after 10 years of going up, some people are still trying to jump in front of a moving train, hoping it might stop and reverse. Yes, some s/r levels demand a closer look and some caution, and the lybia situation might fuel the current rally, but it's not like we're going to run out of crises any time soon.
  • #3,219
  • Mar 2, 2011 6:00am Mar 2, 2011 6:00am
Quoting 4cc
I still fail to see why, after 10 years of going up, some people are still trying to jump in front of a moving train, hoping it might stop and reverse. Yes, some s/r levels demand a closer look and some caution, and the lybia situation might fuel the current rally, but it's not like we're going to run out of crises any time soon.

People like to say they trade the trend but reality most are top and bottom pickers.
  • #3,220
  • Mar 2, 2011 6:22am Mar 2, 2011 6:22am
Quoting Euroscum
People like to say they trade the trend but reality most are top and bottom pickers.
And you say that is wrong? i wish i could choose correctly those top and bottoms
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