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

  • #20,421
  • Aug 22, 2012 10:16am Aug 22, 2012 10:16am
Quoting beeb
Have you checked the Daily GC in post #20530......

Some are already long

beeb
im going to wait a little bit. But by the end of the week or next week, I will make my decision
Alternatives are more important than the plan itself
  • #20,422
  • Aug 22, 2012 10:49am Aug 22, 2012 10:49am
Don't wait too long

Quoting -Melo-
im going to wait a little bit. But by the end of the week or next week, I will make my decision
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,423
  • Aug 22, 2012 10:51am Aug 22, 2012 10:51am
Doubtful on 1670 and doubtful on today's FOMC producing more than bullshit, as Mike said supporting the election, as I said yesterday, if it does rock the price a bit, give it two days to recover.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,424
  • Aug 22, 2012 10:52am Aug 22, 2012 10:52am
Actually, today could be a great opportunity to get long.

we shall see.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,425
  • Aug 22, 2012 11:00am Aug 22, 2012 11:00am
Buma I think you can post on non commercial threads as long as you are identified as a commercial member... not sure though.....

X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,426
  • Aug 22, 2012 11:46am Aug 22, 2012 11:46am
Do you have an article on what this is? and does it involve Palladium?

Love to know.

Quoting Kadc
For those following platinum, though the problems in Africa should have caused the price to go up, they've just developed an alternative to the catalytic converter that doesn't require platinum, so the eventual long-term loss of the main manufacturing use of platinum will likely counter any short-term shortages that would have otherwise kept platinum in-step with the gold price.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,427
  • Aug 22, 2012 11:49am Aug 22, 2012 11:49am
Platinum is still more rare than gold and if the spot price falls far enough I will be a physical buyer hand over fist.

We can see the shift from industrial metal to investment metal in silver already, walk around the streets of NYC and all if not most of the street and small store jewelry used to be silver is now stainless steel.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,428
  • Aug 22, 2012 1:25pm Aug 22, 2012 1:25pm
It looks like we have to wait for the 12sept , but i bet that is just another term to postpone the inevitable - QE.

http://www.bloomberg.com/news/2012-0...th-pickup.html
  • #20,429
  • Aug 22, 2012 1:46pm Aug 22, 2012 1:46pm
closed my silver short as soon as i could. Atleast we know where we are heading now
Alternatives are more important than the plan itself
  • #20,430
  • Aug 22, 2012 1:57pm Aug 22, 2012 1:57pm
went long on silver @29.50 with a sl @29.55. i'm new to the market i'm looking for some opinions
  • #20,431
  • Aug 22, 2012 2:04pm Aug 22, 2012 2:04pm
Yes, it was (if I remember correctly -- sorry, I read the article days ago) a palladium/cobalt alternative which is supposed to be much cheaper.
You can always make money tomorrow provided you don't lose it today.
  • #20,432
  • Aug 22, 2012 2:05pm Aug 22, 2012 2:05pm
Quoting alexjyanu
went long on silver @29.50 with a sl @29.55. i'm new to the market i'm looking for some opinions
Hmmm, maybe i didn't understand quite right...you bought @29.50 and set stop loss @ 29.55?
  • #20,433
  • Aug 22, 2012 2:23pm Aug 22, 2012 2:23pm
EXACTLY what we wanted to see today.

http://www.kitco.com/images/live/gold.gif

Live chart,
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,434
  • Aug 22, 2012 2:42pm Aug 22, 2012 2:42pm
Chart will change. Live

http://www.kitco.com/images/live/nygold.gif

Broken 1545 as promised, high around 1555.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,435
  • Aug 22, 2012 2:44pm Aug 22, 2012 2:44pm
Damn I shoulda bought more physical at 1550....

L3ts check on silver performance.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,436
  • Aug 22, 2012 2:54pm Aug 22, 2012 2:54pm
Quoting XTrade
Chart will change. Live

http://www.kitco.com/images/live/nygold.gif

Broken 1545 as promised, high around 1555.
Did you means "broken 1645 as promised, high around 1655"?
So, what the direction after the QE was not exist? Why gold up?
  • #20,437
  • Aug 22, 2012 3:11pm Aug 22, 2012 3:11pm
1650 should provide interim support.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,438
  • Aug 22, 2012 3:12pm Aug 22, 2012 3:12pm
Quoting Vievy wu
Did you means "broken 1645 as promised, high around 1655"?
So, what the direction after the QE was not exist? Why gold up?
Gotta go answer later, sorry, maybe beeb, or suntrader, can answer.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,439
  • Aug 22, 2012 4:04pm Aug 22, 2012 4:04pm
Quoting XTrade
Zappa, believe it or not I would like for you to enjoy your stay here. Let's put whatever this is to bed. I will say tht I don't remember posting any chart and saying "it could go up or down" that is obvious and I am full of conviction and bias, which you will find if you desire to read and or skip around the past mont or 5. ,

In any case, in your findings, you may have notice that[b] today was a day I have been waiting for - for weeks, I had suggested that with the break of 1625 slight interim resistance should come the break and possible...
Alright, guys...XTrade, beebs, MuscledMike, all is good now. I appreciate the apologies and I can respect that a full explanation is desired along with every call in this thread. It was my fault in the first place.

As for gold....looks good up to 1761 where the real break occurred. Everything else until then has been tested already. I'd see how it developes on the way up to 1761 before taking any short there. Probably would be best just to wait for a pullback at that point and look to buy at a lower price.

I should add, we might see some near-term weakness if gold decides to test the break around 1625.
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  • #20,440
  • Aug 22, 2012 4:48pm Aug 22, 2012 4:48pm
Thanks Zappa....

Update from posts #20530 and #20544 - even with a move like that the lines on GC Daily are still working to the tick......

http://www.screencast.com/t/i15fLunkWV

beeb
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