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

Just because I am the OP of this thread DOES NOT mean YOU cannot disagree with me.

Please post all pertinent info you see fit either as a new trader/ investor or a senior.

I will always give you my reasoning and respond when physically possible.

This is a thread for all. Created with a vision for those looking to trade something a bit more exiting
than currencies but, in the same realm,

And, with a vision the older traders, could help the noobs learn. It's all FREE here buddies....

I do this for fun. I hope people get the picture.

Thank you.

PEACE, LOVE, AND GREAT TRADING -

XTRADE-

OK BACK TO BUSINESS,.... I am following this like a hawk, yet, I do need to sleep a bit.

After aforementioned tap on 1310 we have bounced to 1330. If i am reading the chart correctly....

Here we are on aussie / asia coming open....

silver is green,

I post these charts because there is no GOLD / SILVER ticker on the site here. Hopefully one can be installed one day.

For now when the market dips, opens, closes I will be posting charts of PA for EVERYONE to see and decypher.

hopefully these pics will post.....

silver....................

Just got home from a garage sale! Some CHOICE! 1885 - Coin for me to buy! Lucky I know my stuff, cause the sharks came in earlier and she didn't sell!!!

ALL for me now..

1885 morgan.
1872 Dime. rough condition.. but still
A penny Idon't even know how old at least 150 + years.
Tons of silver halves.

Happy as a clam..................

X,

More paper money history:

http://finance.yahoo.com/news/5-high...190205852.html

Sun

Awesome post! Read the whole thing.!
Yes I forgot to post the G-note and the 5K note.

I just love the history here. These large denom notes were ONLY used to transfer money,
via bank to bank and thus, subject to heist by armored criminals on horses and all the
crazy wild west stuff, just the same as morgan and peace dollars...

Here are Morgan and Peace USD coins minted with 90% silver. almost one ozt in hand, however with the guarantee that they are US currency,

often called "Junk silver" a TON of these have history and are EXTREMELY collectible if rare. USU. the ones with no mint mark are not
valuable as they are the most produced from the Philadelphia mint which is STILL in existence.

Bullion Bear Market Seen Ending Zinc’s 7-Year Glut: Commodities

Good morning trading buddies. Lots of cool pictures of currency posted I see. August is in a couple more days. I think that it will be an interesting month. I hear that Some German elections are coming up in September as well. I could be wrong about that, but I think I heard or read that somewhere. Hopefully we can all increase our accounts.

Hello,

Elections are on 22 September 2013.

cheers.

Not trading yet. Waiting patiently for NY open.

All and all, I have reviewed some charts, mostly looking at the past year.

It seems most of the money is in equities. Take a look at the S&P500 1 yr and DOW 1 yr.

this has likely contributed to a lower gold price.

However as gold corrected, these markets are due for correction as well.

Much is certainly left to be told.

Split- If you're out there feel free to chime in. All I am looking at is money flow and charts.

In any case I have posted a few charts for all to review my view.

The worst case scenario for gold would be repeated rejection in the upper 1350 / 75 zone then a final dip, perhaps into the low 1100s if not briefly
cracking into the upper 1000s, yet, I don't support this, just sharing to play both sides of the coin for all you bears...

Still in 1300s.

A 5 USD dip so far on the open. Nothing to sweat.
Worry more about the next post.

http://www.kitco.com/news/2013-07-26...rolls-ECB.html

METALS OUTLOOK: Gold Traders' Full Plate Next Week Includes FOMC, U.S. GDP, Payrolls, ECB

By Allen Sykora of Kitco News
Friday July 26, 2013 2:34 PM

(Kitco News) - Gold Traders and investors in other markets have a full economic calendar to monitor next week.

"""""""""""""""

“There's no shortage of potential market movers,” said Nomura, listing a meeting of the Federal Open Market Committee, July U.S. employment report and second-quarter gross domestic product. On top of that, the Institute for Supply Management releases its manufacturing report, and the European Central Bank and Bank of England hold policy meetings.

In particular, market participants will be watching U.S. data and a policy statement after the FOMC for more signs on when tapering of quantitative easing might start, and the impact of this on Treasury yields.

“They (gold traders) will be keying off interest rates and the dollar,” said George Gero, vice president and precious-metals strategist with RBC Capital Markets Global Futures.

The large number of news events means potential for the market to be volatile and chop around. Further, light summer trading conditions could also add to price swings, said Afshin Nabavi, head of trading with MKS (Switzerland) SA.

“We’re in the middle of summer holidays,” he said. “The volatility we’ve seen is because of a lack of liquidity more than anything else. This could continue into a good part of August – this directionless $20-$30 up and down.” """"""""""""""""

SOME GREAT POINTS IN HERE FOR NEWBIES ON FUNDAMENTALS!

A lot of news about mining to read.

In any case I remain -
Trade safe. Be patient. Read news and plot your TLs and S/R levels.

The market will BLOW UP come September when everyone (large cap) is back at their desks...

For now. Enjoy the swings in either direction Great practice time.

If you are IN DOUBT STAY OUT!

Always a good time to demo trade as if you were live! Literally, plan and write down ever SL, TP and Entry before even taking the trade!
Then when it comes time to CLICK you might have a better view of the market.

Night.

XT-

Precious Metals are trading downwards since a long time due to the strength of US Dollar and reduction in global macro economic uncertainty reducing safe haven demand. Goldman Sachs recently indicated that the yellow metal may touch all the way to near $1000 level and FOMC starting from tomorrow may be a big news to affect the precious metal in a weaker way. Lets hope to see a crash soon.

i think its currently making Symetrical triangel...lets see

When I first started trading futures it was during a period of currency correlation, particularly USD/AUD and EUR/USD. Unfortunately, that correlation was short lived and upon further investigation the notion that there is a correlation between gold and the US dollar or any of the major currencies turned out to be a myth. Similarly, I don't rely on the direction US bonds or treasures as any sort of guidance.

Here's the US$ portion of the correlation matrix chart I believe I posted around February 19th from my spreadsheet file date:

gold/USD % correlation
2 weeks: 16%
6 weeks: 55%
4 months: -58%
1 year: -67%
3 years: -30%
6 years: -22%

Even the HUI (NYSE Arca Gold BUGS [Basket of Unhedged Gold Stocks]) correlates with actual gold only between 40% and 80% from that same time period, but at least the correlation was consistently positive:

HUI/gold % correlation
2 weeks: 44%
6 weeks: 73%
4 months: 79%
1 year: 67%
3 years: 41%
6 years: 77%

The best correlation is with silver, ranging between roughly 80%-90%.

Here's what the US$ Index vs Gold comparison looks like graphically over 18 years (furthers back I can chart), 4 years, and 4 months. (US$ is the green line)

18 years


4 years


4 months

Thanks KADC... I looked at those charts.

Today, the dollar and gold seem to be going up together. When the dollar was briefly weak, gold went up a lot. So, it shows me gold is strong in the last 8 hours.

Great charts! KADC Thank you for taking the time to post them!!!

Agreed and I was thinking of this last nite. I know it is posted here, yet I'll say it again,

gold is best not to be constantly pegged to ANYTHING. If you find an inverse correlation such as the one it shares
at times with the dollar than fine, yet, these days there are many other factors that weigh on the price of gold.

Keep in mind this is a global trade.

If It has moved since I last looked gold is sitting @1329 and change.
I have some quick techs to post for all and a bunch of links for new traders to read.

FINALLY THEY FIXED THE SITE!!!!

OK - I used H4 almost daily but not 1 hour - so I could get a few months of data.
I added simple support and resistance lines. THESE are important. Even if people can buy now, banks and hedge fund, traders, etc. need to also manage
risk, and will often place buys above the market to make sure certain bullish factors are met and insure the price will continue to rise. (or sell stops vice versa...)

Read the links it is explained more in depth there.

In any case, I don't rely on Moving averages yet feel they are important to look at for trend Identification and to see if the price is simply getting sold or bought @
a particular MA. REMEMBER PRICE ACTION COMES FIRST! NO MAs W/O PRICE!

What I feel is noteworthy here is there is a major cross that is H4 - 50 + 100 + 200 SMA cross.
You can see the 200 was resistance, (in blue) now it is under the price, with some more time this should sort itself out.

2ndly, a major downward TL has been broken and a small channel / TL upwards has been established. (DTL) in RED.

Here is the chart.
I have rounded every line as follows. 25 50 75 100 - price is easy to use in 1/4s and remember important areas w/o the need of looking at a chart 24/7

NOTICE ALSO HOW THE 50 sma is Supporting the Price and in line with the channel.