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

  • #19,861
  • Jul 12, 2012 7:43am Jul 12, 2012 7:43am
June 28 /29 Price hit 1550 then bounced looks like that may be a possibility for today...

Threw on an order at 1553 to get hit. let's see if she get's picked up.

Currently trading off an h4 chart
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,862
  • Jul 12, 2012 7:47am Jul 12, 2012 7:47am
There are positive and negatives to both sides of that coin.

Customarily INFLATION is what boosts gold due to the desire for people to protect wealth and purchasing power.

RELAX> It's a dead market right now.

To me gold looks systematically manipulated right now for the past 3 /4 weeks.

Quoting kamen
Actually what can boost gold price?inflation or deflation..seriously this market make me really confuse right now..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,863
  • Jul 12, 2012 7:59am Jul 12, 2012 7:59am
It's not chart analysis
It's somehow a joke

http://i45.tinypic.com/2j1omtl.jpg
  • #19,864
  • Jul 12, 2012 8:04am Jul 12, 2012 8:04am
Agree with Jim - Risk has been offfand gold seems to be following risk at the moment.

A.M. Kitco Metals Roundup: Comex Gold Lower amid a "Risk-Off" Trader Mode Thursday

Quote
Thursday July 12, 2012 8:39 AM

Comex gold futures prices are moderately lower Thursday morning as the market place exhibits risk aversion due to fears of weakening world economies. On this day, gold has decided to follow most other commodity markets to the downside and act like a risk asset, instead of a safe-haven asset. The gold market bulls are fading, technically. August gold last traded down $12.80 at $1,562.90 an ounce. Spot gold was last quoted down $14.30 an ounce at $1,562.75. September Comex silver last traded down $0.393 at $26.61...


Market Nuggets: BBH: Dollar Stronger After Fed Fails To Deliver Any Easing Clues
Quote
The U.S. dollar has a stronger tone after minutes from the last Federal Open Market Committee meeting, released late Wednesday, did not offer any clues about a third round of quantitative easing, says Brown Brothers Harriman. The market reaction was predictable, BBH says. “We have seen this sort of price action several times this year, whether it be (Fed Chairman Ben) Bernanke testimony, an FOMC meeting, or FOMC minutes,” BBH says. “Equities and ‘risk’ assets rally into the event, only to sell off afterward given no hints of imminent QE3. We have...

U.S. jobless claims fall 26,000 to 350,000
Quote
By Jeffry Bartash
WASHINGTON (MarketWatch) - U.S. jobless claims fell by 26,000 last week to 350,000, but onetime factors such as fewer auto-sector layoffs than normal likely caused the sharp decline, the Labor Department said Thursday. The level of claims is the lowest in four years, although they could move higher in the next few weeks as onetime seasonal factors unwind. The four-week average of claims, meanwhile, decreased by a smaller 9,750 to 376,500. The monthly average reduces seasonal volatility in the weekly data and is seen as a more...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,865
  • Jul 12, 2012 8:06am Jul 12, 2012 8:06am
Gold Could Breakout Any Day: Greg Weldon -

http://www.kitco.com/KitcoNewsVideo/
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,866
  • Jul 12, 2012 8:29am Jul 12, 2012 8:29am
JOBLESS CLAIMS IN US STILL PATHETIC IN MY VIEW.


- Market looks stuck may turn up now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,867
  • Jul 12, 2012 8:33am Jul 12, 2012 8:33am
my silver account only can survive until usd24..drop more than 24 then i need top up more money..i also put sell stop at 25.90..if this number hit,,i think it really disaster..what do u think xtrade?do u think silver will go to 20 as many people talk..
  • #19,868
  • Jul 12, 2012 8:41am Jul 12, 2012 8:41am
Sloppy trading and scalping have already lost the demo 50 bucks only using MICRO LOTS. as well as overtrading.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,869
  • Jul 12, 2012 9:05am Jul 12, 2012 9:05am
I would say 21.50 22 area is possible if bearish momentum picks up and the support at 25.50 area on the monthly breaks is tested and rejected.

This would be a GREAT opportunity to buy physical metal. and depending could create a shortage.

Quoting kamen
my silver account only can survive until usd24..drop more than 24 then i need top up more money..i also put sell stop at 25.90..if this number hit,,i think it really disaster..what do u think xtrade?do u think silver will go to 20 as many people talk..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,870
  • Jul 12, 2012 9:07am Jul 12, 2012 9:07am
At 20 per ozt I don't think the bears could do much more damage due to the overwhelming physical buying that would ensue not to mention that is 30 USD an ozt of the high...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,871
  • Jul 12, 2012 9:15am Jul 12, 2012 9:15am
eye candy

US Silver Quarters
Attached Image (click to enlarge)
Click to Enlarge Name: washington_qtr.jpg Size: 139 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,872
  • Jul 12, 2012 9:27am Jul 12, 2012 9:27am
There should be a break soon, even if it does need to slide a few more bucks to produce, I highly doubt anything sustainable much below 20. That was a break above that was years in the making... I have circled an area of interest where the price is nearing horizontal support and a massive monthly trend line.

Then there is a ZONE that may act as support above 20 that is in place and ready to be tested if need be created by two other older supports;

notice the price point and area in tan/yellow I think it is 36 and the resistance/ price battle that went on there.

Sometimes these lines just add up, the TL meeting that support to a tee may suggest it as a future target for retracement..

first we need to get out of this funk... may not happen till late august
Attached Image (click to enlarge)
Click to Enlarge Name: XAG silver july12 monthly tri.GIF Size: 24 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,873
  • Jul 12, 2012 9:36am Jul 12, 2012 9:36am
xtrade, how can your support at 25.50?because since 25/9/2011 the bottom is 26.09..and until now we never break 26.00..
Attached File(s)
File Type: pdf silver,weekly chart.pdf   14 KB | 377 downloads
  • #19,874
  • Jul 12, 2012 9:36am Jul 12, 2012 9:36am
Many times in trading we don't see these things until after and say damn why didn't I see it then,

Look at the demand that has happened around the red support line...

The bottom could very well be in. This is a slow chart , yet shows the real deal of what is going on.

Silver did need to correct.

What will help propel the PM prices higher is more money printing by the FED and the EUzone.

This is sort of on hold in the US due to the Election which will be coming up and the EUzone is dealing with enough other BS that the presses are not inked and rolling.

Also we need large cap SPECULATORS to return to the market
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,875
  • Jul 12, 2012 9:36am Jul 12, 2012 9:36am
XAU hit the uptrend line on the daily at 1556 or so.l Buys done at 1557.6.

Seasonals usually support XAU going up.
I have no enemy; I make Incautiousness my Enemy.
  • #19,876
  • Jul 12, 2012 9:40am Jul 12, 2012 9:40am
please see the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: silver.gif Size: 13 KB
  • #19,877
  • Jul 12, 2012 9:41am Jul 12, 2012 9:41am
So call it 26. I am drawing quick lines on a monthly chart they are not as sticky as the lower tf charts. also I am accounting for the possibility of a reaction low.

Quoting kamen
xtrade, how can your support at 25.50?because since 25/9/2011 the bottom is 26.09..and until now we never break 26.00..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,878
  • Jul 12, 2012 9:49am Jul 12, 2012 9:49am
Quoting kamen
please see the chart.
adjusted it is 26.07 to be exact that I get. Yet the price is right there, and could easily dip through it and recover within seconds.

I prefer to use round numbers due to the psychological affect as well as work with gold

GOLD:
Either in 10 USD increments or
25 50 75 100 1600- 1625 area 1650 area 1675 area 1700 area

Silver - Can get a bit more technical due to the fact of the cents being the area that are traded on moreso than the USD value itself because a 1 or 2 USD day for silver is enormous.

Copper goes even further into cents. A 1 USD move in copper would send the market into a panic of psychotic lunatics, some very rich and some likely jumping out of windows.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #19,879
  • Jul 12, 2012 10:01am Jul 12, 2012 10:01am
Quoting XTrade
adjusted it is 26.07 to be exact that I get. Yet the price is right there, and could easily dip through it and recover within seconds.

I prefer to use round numbers due to the psychological affect as well as work with gold

GOLD:
Either in 10 USD increments or
25 50 75 100 1600- 1625 area 1650 area 1675 area 1700 area

Silver - Can get a bit more technical due to the fact of the cents being the area that are traded on moreso than the USD value itself because a 1 or 2 USD day for silver is enormous.

Copper goes even further into cents. A 1...
thank you,,it really helpful..
  • #19,880
  • Jul 12, 2012 10:02am Jul 12, 2012 10:02am
Gold is oversold on the H4 and Daily and nearing 30 on the RSI on the monthly.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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