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

  • #13,601
  • Nov 23, 2011 9:27pm Nov 23, 2011 9:27pm
Agreed, yet "technically speaking" I see a firm area outlined in yellow of potential resistance.

I don't really care too much as long as it doesn't begin to tamper with the weekly channel.

I am not trading many currencies ATM. And I am certainly not in a "long USD" state of mind....

Quoting SunTrader
Don't think so.

The Super "Duper" Committee fails to come to an agreement on budget cuts and what did the Dollar do - go higher.

We have idiots running the show in DC but the Europeans have bigger idiots running their world.

ECB might cut rates in Dec. We are already at 0.0% basically. The only direction is up.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,602
  • Nov 23, 2011 9:29pm Nov 23, 2011 9:29pm
Quoting SunTrader
Don't think so.

The Super "Duper" Committee fails to come to an agreement on budget cuts and what did the Dollar do - go higher.

We have idiots running the show in DC but the Europeans have bigger idiots running their world.

ECB might cut rates in Dec. We are already at 0.0% basically. The only direction is up.
Might I add that the idiot "running" my country has just sleazily cemented her govt in power, surely it must be a coincidence that AUD has since been going higher, surely the market can't be THAT stupid! Ugh!!
  • #13,603
  • Nov 23, 2011 9:31pm Nov 23, 2011 9:31pm
Here is another mini lesson.

Don't always try (as many do not just you) to correlate GOLD to something else. Instead learn what drives the gold price and why.
Who, what, when, etc. There are many drivers. go here WORLD GOLD COUNCIL and read http://www.gold.org/
http://www.gata.org/ some links www.kitco.com NOT PLUGGING FOR INFORMATIONAL PURPOSE ONLY.
also read Johnson Matthey Gold page.

It is now it's own beast and has proven that time and time again.

What you are saying may or may not happen. It;'s just like the old broken saying - USD ^ gold v or Gold^ - USD v ------------

Gold will correlate to things at times. Yet it is not a good method of basing trades or following PA.

Quoting bumapatria
dow cleared old support, in lower tf no resistance there currently at 11289. projectiosn are a bull retracement to 11500s. at supply now in m5 i think its going to clear.

perhaps this should help the gold move up. if equities showing green, gold has good chance of returning up
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,604
  • Nov 23, 2011 9:33pm Nov 23, 2011 9:33pm
Catching up on missed posts also, Mr B has again taken me from a smile to laughing out loud. Stuff sunk in too
  • #13,605
  • Nov 23, 2011 9:34pm Nov 23, 2011 9:34pm
i would also like to see silver pop tight range to upside.

unlikely to tell right now.
if it clears the red area, thats a definite bull market at least to resistance (x... ) at 33.15s price has good history of swing points there, now if THAT clears even better for buyers
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Have I got something on my face, SOLDIER?
  • #13,606
  • Edited 10:03pm Nov 23, 2011 9:35pm | Edited 10:03pm
I can't BELIEVE I AM POSTING THIS ON POST NUMBER 13730 of this THREAD.....

It will be linked to the first post.

http://en.wikipedia.org/wiki/Gold
Gold ( /ˈɡoʊld/) is a chemical element with the symbol Au (from Latin: aurum "gold") and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive solid chemical elements. The metal therefore occurs often in free elemental (native) form, as nuggets or grains in rocks, in veins and in alluvial deposits. Less commonly, it occurs in minerals as gold compounds, usually with tellurium.
Gold resists attacks by individual acids, but it can be dissolved by the aqua regia (nitro-hydrochloric acid), so named because it dissolves gold. Gold also dissolves in alkaline solutions of cyanide, which have been used in mining. Gold dissolves in mercury, forming amalgam alloys. Gold is insoluble in nitric acid, which dissolves silver and base metals, a property that has long been used to confirm the presence of gold in items, giving rise to the term the acid test.
Gold has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history. Gold standards have been the most common basis for monetary policies throughout human history, being widely supplanted by fiat currency only in the late 20th century. Gold has also been frequently linked to a wide variety of symbolisms and ideologies. A total of 165,000 tonnes of gold have been mined in human history, as of 2009.[1] This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8500 m3, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.[2]
Besides its widespread monetary and symbolic functions, gold has many practical uses in dentistry, electronics, and other fields. Its high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity led to many uses of gold, including electric wiring, colored-glass production and even gold leaf eating.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,607
  • Nov 23, 2011 9:36pm Nov 23, 2011 9:36pm
Quoting XTrade
Here is another mini lesson.

Don't always try (as many do not just you) to correlate GOLD to something else. Instead learn what drives the gold price and why.
Who, what, when, etc. There are many drivers. go here WORLD GOLD COUNCIL and read http://www.gold.org/
http://www.gata.org/ some links www.kitco.com NOT PLUGGING FOR INFORMATIONAL PURPOSE ONLY.
also read Johnson Matthey Gold page.

It is now it's own beast and has proven that time and time again.

What you are saying may or may...
oh okay this looks good webbies, thanx x, looking at them now.

yes i try to correlate but everything is a mess now, if u wanna trade something just trade one thing for now. gold is gold. Dow is Dow
Have I got something on my face, SOLDIER?
  • #13,608
  • Nov 23, 2011 9:42pm Nov 23, 2011 9:42pm
Quoting CathS
Catching up on missed posts also, Mr B has again taken me from a smile to laughing out loud. Stuff sunk in too
Stay on track BUT Remember to Drop it cause The Kids just want MOM.
You know what I mean.
Kids 1 FF 5
1 being better than 5...

B
  • #13,609
  • Nov 23, 2011 9:53pm Nov 23, 2011 9:53pm
Quoting bumapatria
oh okay this looks good webbies, thanx x, looking at them now.........
You would do well to take X's advice and read. Then when you are done read some more.

Averaging 57 posts a day is car-razy.

Some, like me, might add you to "the list" if you don't calm down a bit.
  • #13,610
  • Nov 23, 2011 9:55pm Nov 23, 2011 9:55pm
I know what I am trading. Thanks.

Worry about WHAT YOU ARE TRADING!!!

Here is a correlation for you.

Quoting bumapatria
oh okay this looks good webbies, thanx x, looking at them now.

yes i try to correlate but everything is a mess now, if u wanna trade something just trade one thing for now. gold is gold. Dow is Dow
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,611
  • Nov 23, 2011 9:58pm Nov 23, 2011 9:58pm
Please take Sun Trader's advice. You know I don't want to much sh1t posted in this thread and what happens when that happens.

Choose your words wisely. Read, think, Read, and then think some more.

Then if you are going to act speak.

Otherwise you have PLENTY OF HOMEWORK TO DO.

And this thread has had it's fill of Bullshit posts off semi off topic for tonight.

Hopefully SOMEONE LEARNED SOMETHING.

Quoting SunTrader
You would do well to take X's advice and read. Then when you are done read some more.

Averaging 57 posts a day is car-razy.

Some, like me, might add you to "the list" if you don't calm down a bit.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,612
  • Nov 23, 2011 10:06pm Nov 23, 2011 10:06pm
Higher low at 1679 produced above 1675 support.

AUD and NZD looking up. Perhaps a risk on night.

If AUD can break out of the downward channel it's over! This may be a great position trade in the event it waves up 1000 pips again from the last drop.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,613
  • Nov 23, 2011 10:08pm Nov 23, 2011 10:08pm
xau usd sideway for 5 hour
  • #13,614
  • Nov 23, 2011 10:51pm Nov 23, 2011 10:51pm
This thread has so much going on, most of it is not so useful, some of it is!

Let me post some stuff from my side, some simple, laughable stuff:

A Comparison between Silver and Steel !

Steel Production, Year 2010 = 14 00 00 00 00 (1.4 Billion Tonnes)
Silver Production, Year 2010 = 22 000 (22 Thousand Tonnes)

Steel Price = $1 - $0.5 (Kilo)
Silver Price = $1000 (Kilo)

See how under-valued Silver is ? (if we keep the Consumption part out).

Silver is the True form of Money, the day Dollar and Euro are out, Silver and Gold are going to touch the sky.

Lets see what the Chinese do to come out of the US Bonds trap.
  • #13,615
  • Nov 23, 2011 11:55pm Nov 23, 2011 11:55pm
Quoting forexfacts
See how under-valued Silver is ? (if we keep the Consumption part out).

Silver is the True form of Money, the day Dollar and Euro are out, Silver and Gold are going to touch the sky.

Lets see what the Chinese do to come out of the US Bonds trap.
This is the long game. Although I am willing to lay money on the line for this possibility, we have to recognize who we are dealing with.

I see the remote possibility that debt restructuring takes the world into a new (or old) currency paradigm, but cashing in on whatever potential moon shot occurs may not be so easy.

Predicting a timeline seems hopeless as the can continues to get kicked down the road.

Will Western countries accept exceedingly harsh austerity? Will governments find a way to fudge the numbers for another decade?

Or will responsible governments return to a rational ratio of public private issuance of money and slap the hands of greedy opportunists seeking wealth through bondage and subsequent austerity?

We are watching momentous history in the making, and gold/silver may be a factor soon. Great to hold on to for the long term in the physical form, but short term remains a quagmire (giggity giggity).

Will keep my trading account in play and continue to read and learn from the thoughtful and experienced contributors here (whether bullish or bearish).
  • #13,616
  • Nov 24, 2011 12:15am Nov 24, 2011 12:15am
Wow, I just noticed that Oanda has added a TON of XAU/??? pairs! They even made an XAU/XAG pair to trade the gold/silver ratio. pretty cool.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #13,617
  • Nov 24, 2011 1:35am Nov 24, 2011 1:35am
That is really cool it's a fun ratio to play.

You r in the US right? What's the leverage? 1;1??
Quoting LasVahGoose
Wow, I just noticed that Oanda has added a TON of XAU/??? pairs! They even made an XAU/XAG pair to trade the gold/silver ratio. pretty cool.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,618
  • Nov 24, 2011 1:39am Nov 24, 2011 1:39am
Quoting XTrade
That is really cool it's a fun ratio to play.

You r in the US right? What's the leverage? 1;1??
I have no idea, all I know is I don't have enough in my account to trade the metals, so I'm out of the game.

EDIT: yeah, 1:1 ratio.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #13,619
  • Nov 24, 2011 1:46am Nov 24, 2011 1:46am
Thank you sincerely for your post and complaint, I have acknowledged that tonight and put a stop to it, in one of my last posts.

I am trying to keep the useless clutter to a minimum.

At least the market was slow tonight. Be assured in a fast market nonsense or useless posts will not be tolerated.
warnings will be given then vacations!

Cool post. Love base metals esp. Copper. I have several pounds of minted cu bullion and sacks of pre 82 90pct CU US pennies.

Quoting forexfacts
This thread has so much going on, most of it is not so useful, some of it is!

Let me post some stuff from my side, some simple, laughable stuff:

A Comparison between Silver and Steel !

Steel Production, Year 2010 = 14 00 00 00 00 (1.4 Billion Tonnes)
Silver Production, Year 2010 = 22 000 (22 Thousand Tonnes)

Steel Price = $1 - $0.5 (Kilo)
Silver Price = $1000 (Kilo)

See how under-valued Silver is ? (if we keep the Consumption part out).

Silver is the True form of Money, the day Dollar and Euro are out, Silver and Gold are...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #13,620
  • Nov 24, 2011 1:47am Nov 24, 2011 1:47am
It should be one to one as the rest of the us brokers. YOu just need to find one that trades .01 or micro lots. It still sucks up a lot of margin but it's worth it if you are sure on a trade.

Quoting LasVahGoose
I have no idea, all I know is I don't have enough in my account to trade the metals, so I'm out of the game.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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