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

  • #18,541
  • Apr 23, 2012 1:42pm Apr 23, 2012 1:42pm
Happy Akshaya Tritiya everyone.

NEW DELHI: Jewellers are expecting a 5 per cent rise in sale of gold to about 15 tonnes on the auspicious Akshaya Tritiya day tomorrow as compared to last year, despite its prices touching a two-month high.

Traders said buying activity picked up for the festival and customers ignored a weakening trend in overseas markets, which normally set price trend in domestic markets.

http://economictimes.indiatimes.com/...w/12840609.cms
I have no enemy; I make Incautiousness my Enemy.
  • #18,542
  • Apr 23, 2012 4:08pm Apr 23, 2012 4:08pm
Quoting jimobiwan
Happy Akshaya Tritiya everyone.

NEW DELHI: Jewellers are expecting a 5 per cent rise in sale of gold to about 15 tonnes on the auspicious Akshaya Tritiya day tomorrow as compared to last year, despite its prices touching a two-month high.

Traders said buying activity picked up for the festival and customers ignored a weakening trend in overseas markets, which normally set price trend in domestic markets.

http://economictimes.indiatimes.com/...w/12840609.cms...
What impact should this have on XAU/USD tomorrow?
  • #18,543
  • Apr 23, 2012 6:46pm Apr 23, 2012 6:46pm
Quoting jimobiwan
....., despite its prices touching a two-month high.....
They must be talking retail price.

Which is not surprising. Price rising upto holiday, then drop after.

Buy the rumour, sell the fact kinda thing.
  • #18,544
  • Edited 10:57pm Apr 23, 2012 10:44pm | Edited 10:57pm
Its showtime, projected lows for week achieved @ 30.76 area with daily close above.
Normal pattern after extending out to weekly lows 30.76 is to rotate back towards weekly pivot, also ad to the fact weekly lows achieved on monday.
However, the lesser daily trend had a daily breakout from mondays lows 31.21, does she continue trending south through $30.76 ?
Eyes on monday breakout retest 31.21 area.
first things first is we have to stay above 30.76 and the candles just dont look like there very motivated as they sit at 30.76-77

tue. daily
tue. daily pivot is 31.10, so eyes open to pa and candle formations 31.10-21 area.
31.87
31.10-21
30.33
  • #18,545
  • Apr 23, 2012 11:25pm Apr 23, 2012 11:25pm
Quoting lilpip
Its showtime, projected lows for week achieved @ 30.76 area with daily close above.
Normal pattern after extending out to weekly lows 30.76 is to rotate back towards weekly pivot, also ad to the fact weekly lows achieved on monday.
However, the lesser daily trend had a daily breakout from mondays lows 31.21, does she continue trending south through $30.76 ?
Eyes on monday breakout retest 31.21 area.
first things first is we have to stay above 30.76 and the candles just dont look like there very motivated as they sit at 30.76-77

tue. daily...

Looks like they just heard you, 30.80s now but looks sluggish still ?
  • #18,546
  • Apr 24, 2012 5:29am Apr 24, 2012 5:29am
http://i43.tinypic.com/ic4q9y.png
  • #18,547
  • Apr 24, 2012 7:24am Apr 24, 2012 7:24am
Quoting Avinash87
http://i43.tinypic.com/ic4q9y.png

broken thorugh now, going to be interesting.
  • #18,548
  • Apr 24, 2012 7:42am Apr 24, 2012 7:42am
Quoting Euroscum
broken thorugh now, going to be interesting.
There are other resistances still in place and there is RSI bearish hidden divergence in H1 and m30.
  • #18,549
  • Apr 24, 2012 7:44am Apr 24, 2012 7:44am
Metals analysis vid which might be interesting/useful:

http://www.coghlancapital.com/node/3039

beeb
  • #18,550
  • Apr 24, 2012 7:53am Apr 24, 2012 7:53am
Quoting Euroscum
broken thorugh now, going to be interesting.
Yes it is broken and comfortably stays above the line, The next resistance level seems to be between 1646-1647 Moving Average 200 which is also a good testing level. It was good to go for short number of pips for breaking on the trend line but since with the next resistance being close it will test these levels.
  • #18,551
  • Apr 24, 2012 8:04am Apr 24, 2012 8:04am
Thanks beeb. Interesting video.
  • #18,552
  • Apr 24, 2012 8:14am Apr 24, 2012 8:14am
Quoting Euroscum
broken thorugh now, going to be interesting.
Its broken and testing Moving average 200 line as per the screenshot so a good 7-8$ breakout from the line.
  • #18,553
  • Apr 24, 2012 9:59am Apr 24, 2012 9:59am
Should we return to the gold standard?

http://www.usatoday.com/money/market...?csp=obnetwork

Even the allure of gold, as a haven in times of war and collapse, could be mistaken. "If the world ends tomorrow, it's not going to be gold that you'll need," Roberts says. "It's going to be lead, because the guy with the bullets will get the gold."

Nevertheless, the rise in interest in a gold standard stems from fear the government's gone too far in borrowing and printing money. "The real question is whether we should have a standard of some sort," Roberts says. "The answer is yes."

Is the gold standard a perfect solution? "It's a monetary arrangement in which human beings operate and direct, which means it's necessarily imperfect. It's just the least imperfect."
  • #18,554
  • Apr 24, 2012 10:37am Apr 24, 2012 10:37am
Interesting...

http://www.silverseek.com/article/si...se-bubble-2012
  • #18,555
  • Apr 25, 2012 11:50am Apr 25, 2012 11:50am
Quoting gulii
Interesting...

http://www.silverseek.com/article/si...se-bubble-2012
wishful thinking


I posted this a couple of weeks back, very nice analysis which is playing out now.

http://www.forexpros.com/analysis/an...slammed-117195
  • #18,556
  • Apr 25, 2012 11:52am Apr 25, 2012 11:52am
Yes because although Gold is "only" at a lower low (so far) than yesterday Silver is at a multi-week low.
  • #18,557
  • Apr 25, 2012 11:58am Apr 25, 2012 11:58am
Quoting Euroscum
wishful thinking


I posted this a couple of weeks back, very nice analysis which is playing out now.

http://www.forexpros.com/analysis/an...slammed-117195


Well thats wishful thinking on both sides, one says $22, the other says Triple digits.
  • #18,558
  • Apr 25, 2012 12:01pm Apr 25, 2012 12:01pm
But again both are possible, first go down then shoot, making a new high
  • #18,559
  • Apr 25, 2012 12:30pm Apr 25, 2012 12:30pm
Quoting forexfacts
Well thats wishful thinking on both sides, one says $22, the other says Triple digits.
I can see 27 maybe if we have another downleg. Looking for 30 to hold but I am out for now. Wish i shorted though, that was a nice pin.
  • #18,560
  • Apr 25, 2012 2:24pm Apr 25, 2012 2:24pm
V-bottoms :
http://kingworldnews.com/kingworldne...to_$3,000.html
EKO
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