XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 293 | Metals Mine

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

  • #5,841
  • May 4, 2011 5:25pm May 4, 2011 5:25pm
Nice buys XTrade.....

Nice GC bounce from the exact LP of this fork - too early to say if it will hold so have put stops above b/e in case of a bit of overnight fun.....

beeb
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  • #5,842
  • May 4, 2011 5:27pm May 4, 2011 5:27pm
Quoting SunTrader
Silver, Gold Futures Dropping as Soros Reported to Have Sold


http://www.bloomberg.com/news/2011-0...us-metals.html

and Mexico has bought 90+ tons.......and CME has raised margins for silver AGAIN.....

beeb
  • #5,843
  • May 4, 2011 6:18pm May 4, 2011 6:18pm
A little TA tidbit about SLV, so far for the month (3 freakin' trading days) total volume has surpassed every other month since this ETF started trading except Nov/Dec of last year and March/April of this year.
  • #5,844
  • May 4, 2011 7:34pm May 4, 2011 7:34pm
Hi guys,

Long time reader, first time poster. I have been playing the XAU/XAG for the past few months and couldn't agree more that a correction was overdue, but it seems this retrace has happened so quickly and brutally that it's got the potential to fall more before gaining traction.. I hope not though.

With all the articles being released relating margin increases and physical being sold off, I can't blame people for being scared of buying in at the present time. However, I feel this sell-off is going to be short lived.

People can't ignore the real issues which will continue to drive commodity prices up; US Debt being to a point where they cannot afford the interest alone. How they plan to fix it? print more money... this _in my opinion_ is a double ended dagger. Sure, print money to make pretty numbers on short term reports, but the long term will infact aid in the relapse into a second recession, possibly worse than the first because the money is going overseas.

Banks were given massive bailouts with the understanding that they would open up the vaults and start lending money to average Americans. Printing money has just opened the window for other countries such as china to take advantage of the weak dollar and export goods to US for cheaper than they can be produced in-house US by local workers using local goods. Really, US is helping to rebuild other countries and hurting itself in the process.

It's rediculous.

This post is purely how I feel about current situations, and appreciate all peoples opinions.. I enjoy reading this forum about peoples views and hope to contribute more in the future. I am still Bullish on gold/silver. positions open at $40 hoping to catch a swing up soon.

Cheers
Mitch
  • #5,845
  • May 4, 2011 8:35pm May 4, 2011 8:35pm
When bull is so high. People have doubt and there is a slower buyer.
People complain price too high. Now when price come down and become cheaper to buy. People complain afraid to buy.

I believe and stick in the trend and nothing major has changes. I loading
slowly as it goes down.
  • #5,846
  • May 4, 2011 8:52pm May 4, 2011 8:52pm
Quoting XTrade
Just got back from the coin shop with my mouth watering over a stack of 10 10 oz engelhard loaves!
http://bullionbargains.us/images/10-...-engelhard.jpg http://lynncoins.com/credit-suisse-o...silver-bar.jpg

Someone had just sold in... It looked Like a late 80's buy, probably bought in at about 4 bucks an oz. Saw 50 turn to 40 and got a bit scared... Never know.

It's truly great when the stuff sitting in the attic comes out.

I got some beautiful 1 oz Credit Suisse Bars. Perfect condition and nice toning.
In...
Buy is the beat on the street.
Im right with ya, picked up eagles today @ $5 over spot which seems a bit high and bullian @ 2 over.
The guy in front of me picked up 13 oz. gold and 10 10oz. bars silver.
  • #5,847
  • May 4, 2011 8:57pm May 4, 2011 8:57pm
More falling for the AUD...
  • #5,848
  • May 4, 2011 9:00pm May 4, 2011 9:00pm
mixed bag of results.. retail sales down (sad), but BA's up. see if 1.07 holds.

Quoting Fmfx
More falling for the AUD...
  • #5,849
  • May 4, 2011 9:08pm May 4, 2011 9:08pm
with wed. close @ 39.33 just below its daily projected low ( 39.41), coupled with daily close below weekly lows @ (39.78) indicates she wants to continue south. However, we shall see how that area responds today to confirm. Push down from there after first 30 minutes of new day is noted.

thur.daily
47.85
42.58
37.31
  • #5,850
  • May 4, 2011 9:20pm May 4, 2011 9:20pm
Although daily uptrend is still intact at this point I think it is foolhardy to buy, except to accumulate a longterm position, before seeing some confirmation bull trend has resumed.

Just my 2 oz worth.
  • #5,851
  • Edited 9:42pm May 4, 2011 9:26pm | Edited 9:42pm
Quoting SunTrader
Although daily uptrend is still intact at this point I think it is foolhardy to buy, except to accumulate a longterm position, before seeing some confirmation bull trend has resumed.

Just my 2 oz worth.
I think you mean the main or primary trend ?
dailys, weeklys,(lesser trends) monthlys(intermediate) are all down.
secondary (quarterly) and primary (yearly) are up.
  • #5,852
  • May 4, 2011 9:50pm May 4, 2011 9:50pm
I'll Buy at or near $1,485.00
Until then I'll buy some wine or Home aplliances or someting else with my income. If it doesn't get that Low Then I'll be left with deciding if I want to Add.

Now doesn't that just sound like an I Got it & You Don't?

It Is. but I'm willing to Share {For Free? Of Course. I'm a 16'r}
Give me 30 Seconds & I'll Explain My Profits.
Give me 3 Years and I can pass the knowledge that assisted me, onto you.

"Breaking News"
Gas drops to $1.00/Gal. DREAM ON.

"Breaking News"
Gold drops to $1,400. DREAM ON.

Yeah... I guess I'm still feeding with the Bulls.

BMc
  • #5,853
  • May 4, 2011 10:22pm May 4, 2011 10:22pm
Quoting lilpip
I think you mean the main or primary trend ?
dailys, weeklys,(lesser trends) monthlys(intermediate) are all down.
secondary (quarterly) and primary (yearly) are up.
Well just to be perfectly clear I was talking about gold.

Which as of this moment hasn't even made a new weekly low and on a daily basis is at a 5 day low. Big deal.

If you misunderstood me to mean silver - as far as I can see the daily/weekly trends point down, not monthly at all.

But both gold and silver have the volatility to just as quickly turn back up.

We'll see.
  • #5,854
  • May 4, 2011 10:34pm May 4, 2011 10:34pm
Hi all,
hope we enjoyed the descent? I just bought silver 39.00 (my supply channel's lower extreme) I'm expecting 44.62
See chart attached.
Happy trading!
Meshach.
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  • #5,855
  • Edited 11:01pm May 4, 2011 10:38pm | Edited 11:01pm
Quoting SunTrader
Well just to be perfectly clear I was talking about gold.

Which as of this moment hasn't even made a new weekly low and on a daily basis is at a 5 day low. Big deal.

If you misunderstood me to mean silver - as far as I can see the daily/weekly trends point down, not monthly at all.

But both gold and silver have the volatility to just as quickly turn back up.

We'll see.
10-4, minds been wrapped in silver, thought we were talking silver.
however, from my angle silvers down on the monthly.
  • #5,856
  • Edited 11:03pm May 4, 2011 10:47pm | Edited 11:03pm
Quoting forexcompoun
Hi all,
hope we enjoyed the descent? I just bought silver 39.00 (my supply channel's lower extreme) I'm expecting 44.62
See chart attached.
Happy trading!
Meshach.
On a larger timeframe I have an eye on that 38.59 thats on your chart and is noted but waiting on 39.41 response on the daily before small commitment.
then will see what 41.46-88 has to say.
  • #5,857
  • May 4, 2011 11:02pm May 4, 2011 11:02pm
Quoting lilpip
I have an eye on that 38.59 thats on your chart and is noted but waiting on 39.41 response before small commitment.
then will see what 41.88 has to say.
Okay bro, enjoy the up move. The truth is that many traders won't spot this opportunity to make money until silver moves at least $0.50

Well, I'm in already. For many years I've been working on picking tops and bottoms. Pro traders say I would go broke doing this but I'm here to re-define the rules.

Talk is cheap. I'll allow my works do the rest of the talking.
I'll try try post a message when price hits 44.62

Do have a lovely trading day sir.
Meshach.
  • #5,858
  • May 4, 2011 11:04pm May 4, 2011 11:04pm
Quoting forexcompoun
Hi all,
hope we enjoyed the descent? I just bought silver 39.00
Happy trading!
Meshach.
I'm with you on that. I wouldn't exclude 43 as a target option
  • #5,859
  • May 4, 2011 11:24pm May 4, 2011 11:24pm
with the recent drop in US dollar i've opened another small long at 39 tight SL

good trades to all.

Mitch
  • #5,860
  • May 4, 2011 11:45pm May 4, 2011 11:45pm
Quoting Bemac
I'll Buy at or near $1,485.00
Until then I'll buy some wine or Home aplliances or someting else with my income. If it doesn't get that Low Then I'll be left with deciding if I want to Add.

Now doesn't that just sound like an I Got it & You Don't?

It Is. but I'm willing to Share {For Free? Of Course. I'm a 16'r}
Give me 30 Seconds & I'll Explain My Profits.
Give me 3 Years and I can pass the knowledge that assisted me, onto you.

"Breaking News"
Gas drops to $1.00/Gal. DREAM ON.

"Breaking News"
Gold drops to $1,400. [b]DREAM...
I do not think we will see $1400. $1460-1470 should be the lowest if gold goes further down. Either way I have been adding to my longs since $1505
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