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

  • #10,861
  • Sep 23, 2011 12:31pm Sep 23, 2011 12:31pm
Looking back to chart, personally this is my first time seeing frenzy price action for XAU/$ and XAG/$.

Well, just buying XAU/$ @ 1630 and XAG/$ @ 30.30. Let's see where it goes.

cheers
  • #10,862
  • Sep 23, 2011 12:44pm Sep 23, 2011 12:44pm
where is she going? when she will stop moving south?
  • #10,863
  • Sep 23, 2011 12:46pm Sep 23, 2011 12:46pm
Quoting zam4ever
Looking back to chart, personally this is my first time seeing frenzy price action for XAU/$ and XAG/$.

Well, just buying XAU/$ @ 1630 and XAG/$ @ 30.30. Let's see where it goes.

cheers
Have you looked at massive bearish candles on daily xagusd and xauusd charts?

Frenzied price movement to the downside has happened before - will probably happen again.

Good luck with your buys. I hope the analysts calling for higher prices next week prove to be correct.

I'm out until CFTC regulations are enforced in the futures market (public reporting). Unless I see a no-brainer opportunity that is - then I may try my hand with a be stop loss on a conservative long position.

I'm staying strong though. They may hammer prices down, but with access to actual supply/demand, paper versus physical contact numbers - analysts may change their tune.

This could be bearish or bullish. I'm okay holding onto my physical silver as this is a long-term position with a set price target. I'm not waiting for financial armageddon, but silver will in all likelihood still have an upside (or I've been burned and a lot of people will be up on fraud charges).

I'm not so worried either way. Box a chocolates, just like Forrest said.

Cheers
  • #10,864
  • Sep 23, 2011 1:01pm Sep 23, 2011 1:01pm
I posted a chart early yesterday of (RICI) Rogers International Commodity Index showing a decline which started more than a month before Gold topped out in Sept.

Well yesterday it had the biggest drop -4.7% in I don't know how long. Maybe never since the starting point of the index - 1998.

Commodities (including Metals) are selling off because of slowing world economies, as if we don't all know this, causing a flight to safety (U.S. Dollar and Treasuries as well as CHF/JPY) AND reduces inflation expectations which in turn sends Gold lower still.

Or maybe its just those manipulators at play. Take your choice.
  • #10,865
  • Sep 23, 2011 1:03pm Sep 23, 2011 1:03pm
Quoting ngr
where is she going? when she will stop moving south?
Nobody knows. Just buying more and more
If you have money you dont care about what is happening.Just take chance and buying more to collect Mass of cash when its going up
  • #10,866
  • Sep 23, 2011 1:06pm Sep 23, 2011 1:06pm
Look how last candle (1H) closed the hour onXAUUSD
Another sign of loosing momentum in todays downtrend rally.
Surely, it doesn't mean trend reversal, but at least short term retracement...
It looks price found its bottom for today?

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.jpg Size: 100 KB
Read Charts - Not Papers
  • #10,867
  • Sep 23, 2011 1:09pm Sep 23, 2011 1:09pm
JPM just added this to their favorites list.

Inserted Video
  • #10,868
  • Sep 23, 2011 1:10pm Sep 23, 2011 1:10pm
http://img11.imageshack.us/img11/644...d230920112.png

XAG USD next stop might be as well @ 26.
  • #10,869
  • Sep 23, 2011 1:13pm Sep 23, 2011 1:13pm
Quoting halkins
Look how last candle (1H) closed the hour onXAUUSD
Another sign of loosing momentum in todays downtrend rally.
Surely, it doesn't mean trend reversal, but at least short term retracement...
It looks price found its bottom for today?

Attachment
this don't mean much considering current downside momentum. short sell rallies is the gameplan still.
  • #10,870
  • Sep 23, 2011 1:18pm Sep 23, 2011 1:18pm
Quoting SunTrader
I posted a chart early yesterday of (RICI) Rogers International Commodity Index showing a decline which started more than a month before Gold topped out in Sept.

Well yesterday it had the biggest drop -4.7% in I don't know how long. Maybe never since the starting point of the index - 1998.

Commodities (including Metals) are selling off because of slowing world economies, as if we don't all know this, causing a flight to safety (U.S. Dollar and Treasuries as well as CHF/JPY) AND reduces inflation expectations which in turn sends Gold lower...
Everyone already knew the world was headed for a slow down in the Spring, ST. That's why smart money had already started taking money out of stocks and putting it into other asset classes. My own financial advisor confirmed this when I decided to get out of stocks in early summer. No shorting the markets at this stage, just a shifting of wealth.

Tanking prices are often related to people SHORTING - massive speculative bets to the downside.

Knowing who is selling a profitable long position and who is holding onto naked paper shorts would be worthwhile. Maybe there is more to this story than talking heads - funny that none of the analysis you cite addresses rumour mills (bullish or bearish), and the fact that naked shorts in the futures markets can effectively drive price downward without the capacity of delivering the asset being sold.

This stuff matters. Keep the digs coming though. It's very revealing. You are often on the offensive. It is obvious that you are dead set on creating arguments.

We'll both see soon enough whether billionaires like Eric Sprott are complete frauds, or whether his willingness to put his name and money on the line has some kind of factual basis.

Your use of talking head explanations given after the fact is certainly interesting, but their is no depth to your argument against the manipulation hypothesis.
  • #10,871
  • Sep 23, 2011 1:47pm Sep 23, 2011 1:47pm
Tilf, what exactly are those vertical lines within the screenshot, is this part of the VIX indi in action?

Quoting Tilf
Hey guys,

I found something worth looking at. I have not used it yet for my longer term trades but it is really something to watch out for. I hope you guys have heard about VIX. If not, then don't worry as I myself do not have much knowledge about it. Generally it is a powerful tool used by portfolio holders.

Anyways, it struck to me that if vix indicator could be added to an MT4 platform then it could be worth a look. However, I do not know MT4 coding and hence I googled it lol. Luckily I bumped into one forum, registered, downloaded and logged...
  • #10,872
  • Sep 23, 2011 1:48pm Sep 23, 2011 1:48pm
Quoting Wheels
..... funny that none of the analysis you cite addresses rumour mills (bullish or bearish), ............ and the fact that .....
Not funny, intentional - price matters only.......... you are going over the deep end.

I referenced my chart pic from yesterday to make the point that the index Jimmy Rogers, one of the greats, puts out had it BIGGEST one day percentage drop ever!!!

Means something to me. But I guess you would say JPM is now naked-shorting all the worlds commodities to crush Silver so they can cover their shorts.

And that everything else going on fiscally/monetarily in US and Eurozone along with slowing in the BRIC's and elsewhere are just minor little details.

My posts are related to what is happening, not what I believe is or should be happening.

If, as Jack Nicholson once said "you can't handle the truth", then put me on ignore.
  • #10,873
  • Sep 23, 2011 1:55pm Sep 23, 2011 1:55pm
Quoting SunTrader
Not funny, intentional - price matters only.......... you are going over the deep end.

I referenced my chart pic from yesterday to make the point that the index Jimmy Rogers, one of the greats, puts out had it BIGGEST one day percentage drop ever!!!

Means something to me. But I guess you would say JPM is now naked-shorting all the worlds commodities to crush Silver so they can cover their shorts.

And that everything else going on fiscally/monetarily in US and Eurozone along with slowing in the BRIC's and elsewhere are just minor little...
I have yet to deny your initial point. I called the analysis interesting, although lifted (intentionally or not) from mainstream media outlets. I just think there is more to the story.

This is not an either/or question.

Yes - I believe market manipulation is always a factor.

AND

I agree that some hedge funds are covering margin for losing positions.

Now you can read this for what it's worth...

Or - you could just continue to misconstrue my points and continue an inane debate.

You say manipulation is not a factor to be pondered, I disagree.

When billionaires put their money and name on the line, it generates my interest.

Can we agree to disagree? Or do you have an actual point about manipulation?
  • #10,874
  • Sep 23, 2011 1:57pm Sep 23, 2011 1:57pm
Uh oooo -

I smell B-Hammer a comin'

  • #10,875
  • Sep 23, 2011 1:57pm Sep 23, 2011 1:57pm
Quoting KinG-Solomon
Tilf, what exactly are those vertical lines within the screenshot, is this part of the VIX indi in action?
King,

I have attached those vertical lines myself to show the exact candle of entry in accordance to the VIX reversal.

I created a thread for discussion on this:

http://www.forexfactory.com/showthread.php?t=316889

Apologies X if this is not allowed here. Its not commercial though and I do not want to clutter this thread with a topic like this.
Trends I Love Finding
  • #10,876
  • Sep 23, 2011 2:13pm Sep 23, 2011 2:13pm
"We find troubling the consistent unwillingness by mainstream gold analysts to debate, or even acknowledge, the manipulation viewpoint in any depth. Such market watchers pretend, not convincingly, that the people marshalling the price management thesis do not possess either the knowledge or research with which to make a strong case for price-fixing in the gold market. Nothing could be further from the truth. Only GATA and its associates have conducted in-depth studies on the U.S. gold reserve, and only they have explored and analyzed the very technical meaning of gold derivatives statistics published by the official sector. And they alone have long warned that central bank loans stand at levels far greater than consensus forecasters claim. Therefore, we believe it is imperative that gold investors cast their eyes outside what has become an ignorant and stale mainstream towards a fringe whose thinking is far more intellectual than well-known gold market commentators have long been able to muster."

-http://www.sprott.com/docs/PressReleases/20_not_free_not_fair.pdf

An oldie, but a goodie. If valid before, it is valid today. (By that, I mean that if price has been manipulated in the past, it is likely to be manipulated in the future).
  • #10,877
  • Sep 23, 2011 2:13pm Sep 23, 2011 2:13pm
Quoting Wheels
.......... When billionaires put their money and name on the line, it generates my interest.
Well you generated mine so I googled Mr Eric Sprott and saw something interesting over at Seeking Alpha : "Sprott Insiders Are Selling PSLV And So Should You"

Take a look.

Otherwise I don't have a clue what he did or said. BTW who stated he is a billionaire?
  • #10,878
  • Sep 23, 2011 2:25pm Sep 23, 2011 2:25pm
Quoting SunTrader
Well you generated mine so I googled Mr Eric Sprott and saw something interesting over at Seeking Alpha : "Sprott Insiders Are Selling PSLV And So Should You"

Take a look.

Otherwise I don't have a clue what he did or said. BTW who stated he is a billionaire?
Did you read this whole story or draw a headline conclusion? Did you seek some other sources discussing the issue?

Sprott is the first guy to tell any investor that it is safest to own the physical asset.

Selling paper to buy more bullion doesn't seem unreasonable to me - especially with the premium.

As to his finances - check it out:

http://www.theglobeandmail.com/globe...rticle2119318/

http://www.businessinsider.com/meet-...es-list-2011-9
  • #10,879
  • Edited 2:49pm Sep 23, 2011 2:49pm | Edited 2:49pm
We have re-entered the almost the mid channel range,

TOUGH CALL HERE. Worst day in a LONG time here for gold.....

Some of my orders got triggered, but we could look at it as just as gold may have been overbought and need some correction, we look oversold now.

I have some potential areas of interest noted on the chart in blue dashed lines should we fall further.

I am and at the same time not really surprised about today, being friday and all as well as the in-ability for the spot price to reclaim viable support.

Risk is coming off as investors are looking for cash = flattening trades and treasuries, from what I have read.
Attached Image (click to enlarge)
Click to Enlarge Name: xau weekly 23.GIF Size: 33 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #10,880
  • Sep 23, 2011 2:49pm Sep 23, 2011 2:49pm
11 buy orders set.Lets make some money
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