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

  • #8,561
  • Aug 5, 2011 10:17am Aug 5, 2011 10:17am
Quoting XTrade
Not sure why you closed P?

You could be 4 USD in profit with a buy at 1660...

14 UsD dip nothing to worry about. Gotta keep your lots small gold is very volatile and headline driven on weeks like this.
i'm relearning how to trade again with this thread of yours. helped me a lot so thanks. been observing for two weeks now

i closed it because i reacted to news and the price action. bad habits are hard to unlearn.... but i'm getting there.

i sent you a private message by the way. can't post it here because someone might be watching this thread too
  • #8,562
  • Aug 5, 2011 10:52am Aug 5, 2011 10:52am
hey guys,

question for those who have knowledge on the situation -

why isnt gold/silver just EXPLODING, i understand some people may cover losses from stocks by closing longs, but people have to be putting money somewhere.. I thought it would be flowing into metals at this stage

any insight on the matter would be great

Mitch
  • #8,563
  • Aug 5, 2011 11:03am Aug 5, 2011 11:03am
Mitch it is. It's what 20 buck below the latest record?
The NFP wasn't bad. Thus the market stayed basically flat.

Gold / Platinum ratio .98

THe market is extended. And as beeb mentioned the ebb and flow sometimes it is necessary for the price although bullish - to come down allowing new money to enter. While others take profits.

Had the NFP been 18. you likely would have seen 1750 today.

Plus - it's Friday during the middle of the summer. Slow times. People are away, etc. Positions get squared by day traders and weekly traders no matter win or lose by days end. And london just closed 3 minutes ago.

BTW. Silver is in the 40 USD range, DOUBLE of what it was last year at this time. Those are incredible returns. Find me a stock that has done the same and holds the same value today after another debacle.


Quoting Mitchoss
hey guys,

question for those who have knowledge on the situation -

why isnt gold/silver just EXPLODING, i understand some people may cover losses from stocks by closing longs, but people have to be putting money somewhere.. I thought it would be flowing into metals at this stage

any insight on the matter would be great

Mitch
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,564
  • Aug 5, 2011 11:13am Aug 5, 2011 11:13am
Quoting Mitchoss
hey guys,

question for those who have knowledge on the situation -

why isnt gold/silver just EXPLODING, i understand some people may cover losses from stocks by closing longs, but people have to be putting money somewhere.. I thought it would be flowing into metals at this stage

any insight on the matter would be great

Mitch
i guess you're asking why it didn't fall like a log below 1640.

i'm thinking that they don't have to protect their investments since they already liquidated their earnings during the previous day (friday today so time de-stress). the bounce back up to 1660 happened mostly during the asian market where they found 1640 as a gold bargain.

not sure though still new to this
  • #8,565
  • Aug 5, 2011 12:04pm Aug 5, 2011 12:04pm
Xtrade, what indicator is that thats giving you the NFP status message I see?

Quoting XTrade
No affect from NFP-
quick lil chart.
  • #8,566
  • Aug 5, 2011 2:18pm Aug 5, 2011 2:18pm
Quoting patguchi
i guess you're asking why it didn't fall like a log below 1640.

i'm thinking that they don't have to protect their investments since they already liquidated their earnings during the previous day (friday today so time de-stress). the bounce back up to 1660 happened mostly during the asian market where they found 1640 as a gold bargain.

not sure though still new to this
after a few months of silver outperformance, I believe the opposite will happen until the rest of the year
  • #8,567
  • Aug 5, 2011 2:38pm Aug 5, 2011 2:38pm
Quoting XTrade
Gold / Platinum ratio .98
In your opinion, What does that indicate?
  • #8,568
  • Edited 11:15pm Aug 5, 2011 11:00pm | Edited 11:15pm
No indicator. Simple Price Action - PA

- If the news was great Gold would likely (not guaranteed as nothing is - dipped at least 30.)

All we had was a usual swing and no real profit taking.

Keep in mind. Although the chart may be extended now, when it goes sideways for a long enough time the gains become "pared" basically accepted at that price as a "fair market agreement value" this is because no one party is powerful or willing enough to sway it one way or the other.

There is more demand and more open interest in the long side of GOLD and its spawns.

There is first
SPOT
next the COMEX and after hours GLOBEX / Futures
and what has become a new addition helping propel the price higher
ETFs Like GLD and NYSE LIFFE - SLV for silver etc.

Quoting KinG-Solomon
Xtrade, what indicator is that thats giving you the NFP status message I see?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,569
  • Aug 5, 2011 11:05pm Aug 5, 2011 11:05pm
What are you trying to ask?

What it means is that 1:1 or ozt to ozt AU to PT = .98 which is almost parity.
-------------------------------------------------
Which means in laymens terms you can trade almost ONE oz of GOLD for one OUNCE TROY of PLATINUM.
------------------------------------------------------------------------


Please read my prior posts to you as well as beebs. If you have read beebs read MINE. While you are at it take a look at
THIS POST

Quoting GoldBear
In your opinion, What does that indicate?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,570
  • Aug 5, 2011 11:24pm Aug 5, 2011 11:24pm
95% 0f readers...Are running around jumping from fence to fence trying to maximize gains. (on Demo no less)

On april 12th I posted (and invited to a Real Trade) that while gold was priced, at that time, less than 1,450.00/Troy, I expected to be paying 1,600.00 by September.
I was called some sort of lesserbrain special project.

STOP: Think for just one moment: How TF do you think I feel now.

WRONG:
I feel a little annoyed that I obviously didn't convince everyone {but then again, a Market needs fleece}


btw. if you are Trading OR Thinking of Trading Gold...
Do you have any idea why September is important & where you should be looking?

1,970.xx by Christmass is not off the wall.

{I know you want charts. I want you to THINK. Check your Own Charts. All of them.}

B
  • #8,571
  • Aug 5, 2011 11:32pm Aug 5, 2011 11:32pm
TELL EM Bemac!!!!!!!!
Now you know how I feel!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,572
  • Aug 6, 2011 12:06am Aug 6, 2011 12:06am
Quoting XTrade
...
Now you know how I feel!
"and some fell on Fertile Soil"
Best you can hope for. Not only a religious conotation but also a mathematical progression scenario.

Old is no garauntee but is often a good bet of being Wise.

B
  • #8,573
  • Aug 6, 2011 4:39am Aug 6, 2011 4:39am
What conclusion are you drawing, based upon the information you present, about the future price action of gold.

Quoting XTrade
What are you trying to ask?

What it means is that 1:1 or ozt to ozt AU to PT = .98 which is almost parity.
-------------------------------------------------
Which means in laymens terms you can trade almost ONE oz of GOLD for one OUNCE TROY of PLATINUM.
------------------------------------------------------------------------

[b][color="red"]
Please read my prior posts to you as well as beebs. If you have read beebs read MINE. While you are at it take a look at
[url="http://www.forexfactory.com/showthread.php?p=3488299#post3488299"]THIS...
  • #8,574
  • Aug 6, 2011 4:40am Aug 6, 2011 4:40am
S&P downgrades US to AA+ finally. Seems like it will be a negative start for the stocks, positive for dollar against low yielding currencies and negative against high yielding like CHF. Gold should be heading towards 1720 according to the patterns I posted. We got the news also now!
Trends I Love Finding
  • #8,575
  • Aug 6, 2011 6:12am Aug 6, 2011 6:12am
Quoting Tilf
S&P downgrades US to AA+ finally. Seems like it will be a negative start for the stocks, positive for dollar against low yielding currencies and negative against high yielding like CHF. Gold should be heading towards 1720 according to the patterns I posted. We got the news also now!
Breaking news :
http://www.bloomberg.com/news/2011-0...on-accord.html

That's a daring move by S&P to downgrade US credit. Although it should be done long time ago, I personally believe that S&P wouldn't have the guts to do that...... until now. No wonder Gold couldn't dip below 1650 on friday even though NFP and unemployment rate is Good for the US. It seems that the resistance of gold is around 1647 for now (Once PA for gold hit 1647, it bounce back to hit 1660 and sideways).

To think about it, S&P giving the downgrade on Saturday seems to be arranged. It seems to give a plenty of time for USDX to get stronger for a little bit before it take a fall on monday.

Now the momentum is clear, S&P give the green light, gold will shoot like a rocket.....

Beeb , Xtrade, ShirleyLo : whats ur opinion on this?

Best regards,

Ricky~
  • #8,576
  • Aug 6, 2011 7:16am Aug 6, 2011 7:16am
Of all the stuff I've read so far this makes most sense.....

http://kingworldnews.com/kingworldne...t_Markets.html

beeb
  • #8,577
  • Aug 6, 2011 9:27am Aug 6, 2011 9:27am


this sums it up (from beeb's link)
http://kingworldnews.com/kingworldne...peimage_22.png


Quoting beeb
Of all the stuff I've read so far this makes most sense.....

http://kingworldnews.com/kingworldne...t_Markets.html

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #8,578
  • Aug 6, 2011 2:01pm Aug 6, 2011 2:01pm
...... so buy more gold. i did it.

http://i.imgur.com/QgPIm.jpg
  • #8,579
  • Aug 6, 2011 5:03pm Aug 6, 2011 5:03pm
according to the indian market trading on gold today , spot gold would open 20-30$ higher monday..!!
Trends I Love Finding
  • #8,580
  • Aug 6, 2011 7:23pm Aug 6, 2011 7:23pm
I will paint some charts later -

But did people notice the closes on
CABLE = top of downward channel ready to break
FIBRE = top of downward channel ready to break
and
SWISSY? = 1 buck gets you .76 CHF all my predictions have come true on this pair.

I'm thinking 6800 next.

U/J ? - Half the TRILLION Yen intervention has given back to the market.
staying away from this pair as I don't like to trade it much anyway....

AUD - Daily = SPINNING TOP. 500+ pips to make up.
NZD/USD- Hit the Upward trendline and gave up appx 160 + green pips.

=======================
Strategy
Next week/ SHORT USD - Hedge with Crosses if necessary.
BUY ALL GOLD DIPS and SILVER AS WELL....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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