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

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

#11,061
Edited 2:04pm Sep 26, 2011 11:04am | Edited 2:04pm

Tilf
| Joined Jul 2011 | Status: Trader | 176 Posts

Quoting XTrade

Disliked

Looking at 1560 and 73.

If it surpasses that zone I am loading a nice trade at 1500

50 week SMA - in between two upward channel lines. enforced by what should be STRONG horizontal support at.

Spit in the ocean attempting a long scalp. Goes a few bucks south either selling with a tight stop or sleeping.....

Ignored

Hmphh I missed out on the long this time around

. There could be another wave down to retest lows, or maybe not. I believe the physical market equilibrium is between 1500-1600 as price was stable around those levels. Shradh (time when you remember your dead ancestors) is over today in my home country India and people are just pouncing on to any form of Gold lol (according to my cousin).

I did book my physical Gold during the weekend and managed to grab (was very difficult here in Dubai) 2 ounces. When I called the dealer in the morning he said we are not selling Gold today as there is no Gold in the market...some shortage. That tells you a lot I feel, the speculative market is out and now we may see a slow but sustainable rally in Gold.

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#11,062
Sep 26, 2011 11:13am Sep 26, 2011 11:13am

Savvyor
| Joined May 2011 | Status: Trader | 6 Posts

GOLD Weekly Commentary 26 September, 2011

http://savvyor.newsvine.com/_news/20...september-2011

http://www.purepakistani.com/wp-cont.../gold-bars.jpg

#11,063
Sep 26, 2011 11:28am Sep 26, 2011 11:28am

Wheels
| Joined Sep 2011 | Status: Trader | 423 Posts

Quoting Tilf

Disliked

Hmphh I missed out on the long this time around . There could be another wave down to retest lows, or maybe not. I believe the physical market equilibrium is between 1500-1600 as price was stable around those levels. Shradh (time when you remember your dead ancestors) is in my home country India and people are just pouncing on to any form of Gold lol (according to my cousin).

I did book my physical Gold during the weekend and managed to grab (was very difficult here in Dubai) 2 ounces. When I called the dealer in the morning he said we are...

Ignored

This is interesting information if more than just an individual case.

It would be curious if a physical shortage existed in the global supply chain, but somehow spot price remains suppressed.

I would be hesitant to sell at these levels if I were a dealer (and did not need the liquidity).

These are the kinds of stories that we should keep track of in identifying manipulation in the paper trade.

#11,064
Sep 26, 2011 11:41am Sep 26, 2011 11:41am

ngr
| Joined Aug 2011 | Status: Trader | 45 Posts

Quoting Tilf

Disliked

Hmphh I missed out on the long this time around . There could be another wave down to retest lows, or maybe not. I believe the physical market equilibrium is between 1500-1600 as price was stable around those levels. Shradh (time when you remember your dead ancestors) is in my home country India and people are just pouncing on to any form of Gold lol (according to my cousin).

I did book my physical Gold during the weekend and managed to grab (was very difficult here in Dubai) 2 ounces. When I called the dealer in the morning he said we are...

Ignored

you narrate good stories.

#11,065
Sep 26, 2011 11:42am Sep 26, 2011 11:42am

MapleLeaf
| Joined Dec 2010 | Status: Trader | 638 Posts

Quoting Xaron

Disliked

Not anymore. I've added a bit.

Ignored

5000 euro gain in 1 day.. amazing dude!!

buy me a few beers, lol.

The Black Swan: The Impact of the Highly Improbable

#11,066
Sep 26, 2011 11:52am Sep 26, 2011 11:52am

Wheels
| Joined Sep 2011 | Status: Trader | 423 Posts

They take effect tonight.

Who thinks this will knock the price down more?

Or, have the requirements already been accounted for since the announcement on Friday?

Thoughts?

Cheers

#11,067
Sep 26, 2011 12:01pm Sep 26, 2011 12:01pm

Xaron
Joined Apr 2007 | Status: Evil Kraut | 2,559 Posts

Quoting Wheels

Disliked

They take effect tonight.

Who thinks this will knock the price down more?

Or, have the requirements already been accounted for since the announcement on Friday?

Thoughts?

Cheers

Ignored

It is priced in. There were some margin calls for sure but there is still a huge shortage of physical gold and silver so we will probably see new highs this year especially in front of QE3 which is likely to come in the US.

#11,068
Sep 26, 2011 12:30pm Sep 26, 2011 12:30pm

ngr
| Joined Aug 2011 | Status: Trader | 45 Posts

There should be some reason beyond technical,fundamental,charts,Economic data's etc.. for bulls & bears on gold .But gold is always a Bull.

#11,069
Sep 26, 2011 12:37pm Sep 26, 2011 12:37pm

forexfacts
| Joined Sep 2011 | Status: Trader | 558 Posts

Quoting Xaron

Disliked

It is priced in. There were some margin calls for sure but there is still a huge shortage of physical gold and silver so we will probably see new highs this year especially in front of QE3 which is likely to come in the US.

Ignored

If buying physical can you please advise what will be a good price for Gold and for Silver, and at what price should it be sold before the end of this year.
I know it is a difficult question taking in account the wide variation of these metals this year, i.e

Gold 1350 - 1900
Silver 25 - 50

Thank you.

#11,070
Edited 1:09pm Sep 26, 2011 12:40pm | Edited 1:09pm

GoldenDude
| Joined Sep 2011 | Status: Trader | 88 Posts

this is driving me insane

i see strong support at around 1580

i dont think it will break

#11,071
Sep 26, 2011 12:52pm Sep 26, 2011 12:52pm

khan101
| Commercial User | Joined Sep 2011 | 103 Posts

Quoting GoldenDude

Disliked

this is driving me insane

i see strong resistance at around 1580

i dont think it will break

Ignored

You mean support

#11,072
Sep 26, 2011 1:36pm Sep 26, 2011 1:36pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting ngr

Disliked

There should be some reason beyond technical,fundamental,charts,Economic data's etc.. for bulls & bears on gold .But gold is always a Bull.

Ignored

Flip a coin.

#11,073
Sep 26, 2011 1:42pm Sep 26, 2011 1:42pm

BlackTexto
| Joined Aug 2011 | Status: Forex SuperHero In Training | 239 Posts

Quoting SunTrader

Disliked

Flip a coin.

Ignored

I did it and took a long position at 1590 !

SL: 10 TP: Let Run and babysit my position.

#11,074
Sep 26, 2011 1:53pm Sep 26, 2011 1:53pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting BlackTexto

Disliked

I did it and took a long position at 1590 ! SL: 10 TP: Let Run and babysit my position.

Ignored

Did you use a double-sided coin?

#11,075
Sep 26, 2011 1:53pm Sep 26, 2011 1:53pm

BlackTexto
| Joined Aug 2011 | Status: Forex SuperHero In Training | 239 Posts

Quoting SunTrader

Disliked

Did you use a double-sided coin?

Ignored

Haha...let me check...

#11,076
Sep 26, 2011 2:02pm Sep 26, 2011 2:02pm

Tilf
| Joined Jul 2011 | Status: Trader | 176 Posts

I will try and dig out more information from the dealers out here in dubai. In all these years, I have not paid more than $2 premium over spot but during the speculative rally the premiums were insanely high.

A retail shop owner friend of mine had to persuade the wholesale dealers to send in gold bars and the wholesalers would then give you only few bars. The reason wholesalers gave was that ' there is shortage of gold from our sources'. The retail owner told me that he has never been in such a situation and he is seeing young people coming in to buy Gold from his shop.

I will look out for more REAL information from other countries and dig out a local newspaper article link regarding this for you all.

If you analyse such scenarios, physical market could be on the verge of deviating from this non-sense paper market.

Quoting Wheels

Disliked

This is interesting information if more than just an individual case.

It would be curious if a physical shortage existed in the global supply chain, but somehow spot price remains suppressed.

I would be hesitant to sell at these levels if I were a dealer (and did not need the liquidity).

These are the kinds of stories that we should keep track of in identifying manipulation in the paper trade.

Ignored

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#11,077
Sep 26, 2011 2:12pm Sep 26, 2011 2:12pm

Tilf
| Joined Jul 2011 | Status: Trader | 176 Posts

Here is that link with an excerpt

This article is old but it is almost similar to the current scenario.

Quote

Disliked

There is currently a huge rush to buy gold bars and coins in the market resulting in 50 gramme and 100 gramme gold bars in thin supply....

Traders are selling gold bars at a premium of $50 per ounce. Normally the profit margin on a gold price is Dh 20 ($5), now traders are charging Dh 100($30) to Dh 150($50) more than the market value,”

.

http://www.newzglobe.com/article/20110810/shortage-gold-bars-and-coins-hits-dubai

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