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

  • #9,961
  • Sep 11, 2011 10:00pm Sep 11, 2011 10:00pm
How about This one?

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Thinking of You.
BMc.
  • #9,962
  • Sep 11, 2011 10:23pm Sep 11, 2011 10:23pm
some recent gold quickies..
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  • #9,963
  • Sep 11, 2011 11:54pm Sep 11, 2011 11:54pm
This is still in the cards too..
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  • #9,964
  • Edited 3:37am Sep 12, 2011 2:58am | Edited 3:37am
short for me:
http://www.kikkichimoku.com/home/201...ort-su-h1.html
http://gyazo.com/0d52a092e8e1fb15bb6a2faba2dc3331.png
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  • #9,965
  • Sep 12, 2011 3:14am Sep 12, 2011 3:14am
Quoting MapleLeaf
Just to understand exactly what you mean.

Are you saying that GOLD WILL NOT reach 2000 dollars per ounce?
I am basically saying that I don't trust the permanent up trend anymore. I know that I am arguing against religious beliefs here but this is my opinion. Be careful. I see a few black swans on the horizon. I might be wrong. But it would be even wronger to deny this possibility entirely.
  • #9,966
  • Sep 12, 2011 3:29am Sep 12, 2011 3:29am
Personally I think it's great to have differing opinions to discuss & research - then it's up to each individual trader to act on what they think has the strongest probabilty, which is ultimately what makes the market work. If we all completely agreed on future price directions we would be so much more likely to be stung by rapid changes - the discussions that are being had here ensure that we take as much as possible into consideration - thanks for that!!
cheers cath
  • #9,967
  • Sep 12, 2011 3:48am Sep 12, 2011 3:48am
liquidity problems vs safe haven
i think it will keep going up
  • #9,968
  • Sep 12, 2011 3:54am Sep 12, 2011 3:54am
Quoting XTrade

----------------------

Little range to trade Gold
1828 -1859
lol back in May or even earlier a 30 dollar swing is a NFP move.
  • #9,969
  • Sep 12, 2011 3:58am Sep 12, 2011 3:58am
Quoting 7bit
I am basically saying that I don't trust the permanent up trend anymore. I know that I am arguing against religious beliefs here but this is my opinion. Be careful. I see a few black swans on the horizon. I might be wrong. But it would be even wronger to deny this possibility entirely.
i agree. thanks for posting your insights. the whole exercise of exchanging arguments regarding gold helps us newbies learn a lot. it's nice that you are being very mature about it. thanks again
  • #9,970
  • Edited 7:10am Sep 12, 2011 5:40am | Edited 7:10am
Quoting 7bit
I am basically saying that I don't trust the permanent up trend anymore. I know that I am arguing against religious beliefs here but this is my opinion. Be careful. I see a few black swans on the horizon. I might be wrong. But it would be even wronger to deny this possibility entirely.
Exactly right, me too. The time has passed for the perma-bulls imo.....now is the time to exercise caution and sound TA or FA if that's your specialty. I think to assume that gold will continue on it's ever steeper climb due to EU and USD concerns is foolish because what's going on in the world has never happened before, and therefore, we have no example to follow. For that reason, caution is required and to be aware that not entering a trade at all, is also a position.....and sometimes it is the best position.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,971
  • Sep 12, 2011 6:25am Sep 12, 2011 6:25am
Update of 10 min GC shown last week - supports and resistances fairly obvious.....

beeb
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  • #9,972
  • Sep 12, 2011 7:14am Sep 12, 2011 7:14am
Found quite a good read (and website - new find for me) about possible fundamental reasons behind recent selloffs:

Gold hit as investors sell holdings to cover losses

Quote
"Gold is held as part of a wider portfolio of assets, so when you see blanket selling of equities, then gold will come down at the same time. Having said that, of course, it has tended to do well on worries about Europe and currency strength, but the wider picture needs to be taken into account, so that is why gold is struggling at these higher levels."

Quote
"While gold is capable of rallying in the face of a strong dollar, an extended upward move in the dollar does put some obstacles in its path."

That explains a lot about what I'm seeing on the charts of drops and consolidation but no sustained move in either direction. My (limited) interpretation of thes fundies is that it *should* be going up due to all the terrible news but because stocks are taking such a pounding and the USD is soaring it's not.

Does that sound at all feesable?

Also read some other interesting articles about the Indian festival/wedding season having a sluggish uptake on gold due to the price being so high and this quite good conspiracy theory one that according to wikileaks China confirm US and EU interference in gold to make their currencies more attractive safe havens..
Anything can happen.
  • #9,973
  • Sep 12, 2011 7:40am Sep 12, 2011 7:40am
Quoting beeb
Update of 10 min GC shown last week - supports and resistances fairly obvious.....

beeb
Thanks heaps
  • #9,974
  • Sep 12, 2011 8:33am Sep 12, 2011 8:33am
Flag

http://upic.me/i/dl/12-9-255410-57-52.png

http://upic.me/i/qg/12-9-255420-25-55.png
http://imageshack.us/photo/my-images...554202555.png/
  • #9,975
  • Sep 12, 2011 9:08am Sep 12, 2011 9:08am
Quoting ddinnov
Found quite a good read (and website - new find for me) about possible fundamental reasons behind recent selloffs:

Gold hit as investors sell holdings to cover losses

That's the explanation usually given when stock markets take a beating and gold also drops
  • #9,976
  • Edited 10:07am Sep 12, 2011 9:29am | Edited 10:07am
Quoting GoldenDude
That's the explanation usually given when stock markets take a beating and gold also drops
...which is interesting because the funds and bank institutions that actually move prices (buy selling tons of gold/silver), are probably not on the losing side of most trades to begin with.

While I would prefer to see resistance held at the 1829 level, I'm prepared for gold to drop.

I will not ever risk losing my initial investment, but hope to hang in long enough to see another rally.

I'm still beating the best performing fund my bank offered last year at this stage. That said, some very powerful individuals have the power to knock gold/silver prices around easily despite the ever-growing physical demand in China and India (among the rest of the planet).

Problem is - price movement has never been logical. I believe it is manipulated, but I admittedly have not collected enough first hand evidence to confirm this as fact.

Perhaps you've seen this:
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Most big players are not covering losses in this market. They are profiting richly IMHO. Volatility is an easy play if you have billions to work with.
  • #9,977
  • Sep 12, 2011 9:30am Sep 12, 2011 9:30am
Did a buy limit at 1827.80 and TP at 1836 which was the lower part of my red HAS MTF
You gotta love it
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  • #9,978
  • Edited 11:13am Sep 12, 2011 10:20am | Edited 11:13am
buy at 1827.8 tpo 1834
small gain but a gain is a gain
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  • #9,979
  • Sep 12, 2011 11:03am Sep 12, 2011 11:03am
Quoting kikkofrio
short for me:
http://www.kikkichimoku.com/home/201...ort-su-h1.html
http://gyazo.com/0d52a092e8e1fb15bb6a2faba2dc3331.png
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  • #9,980
  • Sep 12, 2011 11:07am Sep 12, 2011 11:07am
Am short silver @ 41.13, SL=41.13.

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Target= we'll see.
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