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  • #981
  • Aug 16, 2013 12:25pm Aug 16, 2013 12:25pm
Quoting goldfinger
If taper talk becomes reallity gold will be down big time. I am going against the trend and shorting gold my sl is 1380
I tend to agree, though I think we could see plenty of volatility as result of increased liquidity, and stops above 1,400 might get taken out before the plunge.
"The market can remain irrational longer than you can remain solvent"
  • #982
  • Aug 16, 2013 3:51pm Aug 16, 2013 3:51pm
Quoting goldfinger
If taper talk becomes reallity gold will be down big time. I am going against the trend and shorting gold my sl is 1380
There is lot more in play than taper talk right now. This week's inflation and employment data pretty much confirmed taper but look what happened to the USD. It got sold off for no apparent reason. Like anton said, it is going to be volatile.
  • #983
  • Aug 16, 2013 7:26pm Aug 16, 2013 7:26pm
Quoting kokomos
{quote} Yes but you have to take into an account of where the Japanese and Chinese are moving their reserves to. They have been selling US assets.
hoW do you know about Japanese and Chinese movement ?
  • #984
  • Aug 16, 2013 8:03pm Aug 16, 2013 8:03pm
lets not forget new coming china stimulus. do you think US can afford not to print and let usd be superstrong. I do not think so.

also there is bunch of buyers waiting in 900 to 1100 area. Let them enjoy view of the sky They will jump in once they realise prices actually moving higher without them and they will see 10,000 number in their dreams.
  • #985
  • Aug 17, 2013 9:49am Aug 17, 2013 9:49am
Quoting trexy123
{quote} hoW do you know about Japanese and Chinese movement ?
http://www.reuters.com/article/2013/...97F02T20130816

That's 40 billions + the trade surpluses that they are not putting into the treasuries. You only need a billion here and there to pump up prices. Gold market is not that big.

Gold price already broken out of the kumo cloud so it is going to be uptrend from here for awhile. There will be a pullback next week though... atless base on RSI and stochastic readings.
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  • #986
  • Aug 17, 2013 10:07am Aug 17, 2013 10:07am
Quoting kokomos
{quote} http://www.reuters.com/article/2013/...97F02T20130816 That's 40 billions + the trade surpluses that they are not putting into the treasuries. You only need a billion here and there to pump up prices. Gold market is not that big. Gold price already broken out of the kumo cloud so it is going to be uptrend from here for awhile. There will be a pullback next week though... atless base on RSI and stochastic readings. {image}
what price will it pull back to?
  • #987
  • Aug 17, 2013 3:35pm Aug 17, 2013 3:35pm
Quoting kokomos
{quote} http://www.reuters.com/article/2013/...97F02T20130816 That's 40 billions + the trade surpluses that they are not putting into the treasuries. You only need a billion here and there to pump up prices. Gold market is not that big. Gold price already broken out of the kumo cloud so it is going to be uptrend from here for awhile. There will be a pullback next week though... atless base on RSI and stochastic readings. {image}
The bullish break of the clouds from the lagging line is still missing...at the moment it's only a correction.
  • #988
  • Aug 18, 2013 9:03am Aug 18, 2013 9:03am
Short Squeeze on Gold?

http://www.businessinsider.com/gold-...squeeze-2013-8


Upcoming week should be volatile with FOMC minutes on Wednesday, plus China, EU, and other U.S. news.
"The market can remain irrational longer than you can remain solvent"
  • #989
  • Aug 19, 2013 8:27am Aug 19, 2013 8:27am
Quoting openyoureyes
{quote} (if this closes above 1340) your line will be broken, than bullish trend continues (my view: until 1480, than 1600) I expect a big big daily candle in the coming days: I would only trade here with a high-leverage, seperate account with limited money (risk) Real account killer, take care with your trades. Always use stop-loss in your trades especially in XAG and XAU. And if you don't you will learn to do it the hard way... {image}
21 aug, wed
mixed us data on that news:
I expect breakout top @ 1420
also emerging markets going into further pressure vs USD
USD weaker vs majors

GBP, AUD, NZD further recovery
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  • #990
  • Aug 19, 2013 8:44am Aug 19, 2013 8:44am
Quoting openyoureyes
{quote} 21 aug, wed mixed us data on that news: I expect breakout top @ 1420 also emerging markets going into further pressure vs USD USD weaker vs majors GBP, AUD, NZD further recovery {image}
Im short after that top out on the 4HR.

Overall longer term trend is bullish but looking for a retrace here to at least the last support zone 1339-1346.

SL is below 1390 - if we were to break through that then I would see 1420 very shortly afterwards IMO.
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To live a successful life, we must lose our fear of being wrong
  • #991
  • Aug 19, 2013 8:58am Aug 19, 2013 8:58am
time to buy gold ETFs:

http://etfdb.com/etf/GDX/charts/
http://etfdb.com/etf/GDXJ/charts/

good medium term investment imho, hold until december maybe..?

edit:
GDXJ weekly turned bulls,
http://etfdb.com/etf/GDXJ/charts/?do...ncelstudy=&a=W
mar 2012 price: 120.00
aug 2013 price: 48.80
july 2013 price: 35.00
  • #992
  • Aug 19, 2013 2:49pm Aug 19, 2013 2:49pm
Quoting EatPIPs
{quote} Im short after that top out on the 4HR. Overall longer term trend is bullish but looking for a retrace here to at least the last support zone 1339-1346. SL is below 1390 - if we were to break through that then I would see 1420 very shortly afterwards IMO. {image}

I tend to agree with this analysis. I closed my short earlier for a small profit, and on the sidelines until Wednesday. If U.S. news is poor or even mixed, gold could make it up to the 1,420 area. The longer term trend will probably not come into view until after September U.S. Fed meeting.
"The market can remain irrational longer than you can remain solvent"
  • #993
  • Aug 20, 2013 4:30pm Aug 20, 2013 4:30pm
rumour soros longed gold.
  • #994
  • Aug 20, 2013 4:33pm Aug 20, 2013 4:33pm
Quoting seaman2
rumour soros longed gold.
So, we can assume there the same old FOMC minutes tomorrow. Gold tick up?
When the facts change I change my mind, what do you do sir
  • #995
  • Aug 20, 2013 4:46pm Aug 20, 2013 4:46pm
Quoting Pip Anon
{quote} So, we can assume there the same old FOMC minutes tomorrow. Gold tick up?
duno. but what I know that there is too many shorts and would be longs waiting around 1000 area.

Sharp move up will kill couple of birds :

1. force shorts to cover
2. force ones that wait at 1000 to buy at much higher prices as they will get afraid that they will miss move to 10k.
3 force gold bugs that gave up and sold in disgust to jump on the wagon again.

mumbling about china stimulus centred in west china is getting louder so here is your fundamental reason.

http://usa.chinadaily.com.cn/china/2...t_16905696.htm
  • #996
  • Aug 20, 2013 5:03pm Aug 20, 2013 5:03pm
Quoting seaman2
{quote} duno. but what I know that there is too many shorts and would be longs waiting around 1000 area. Sharp move up will kill couple of birds : 1. force shorts to cover 2. force ones that wait at 1000 to buy at much higher prices as they will get afraid that they will miss move to 10k. 3 force gold bugs that gave up and sold in disgust to jump on the wagon again. mumbling about china stimulus centred in west china is getting louder so here is your fundamental reason. http://usa.chinadaily.com.cn/china/2...t_16905696.htm...
1,375 has been a tough one to pass. I would think a move higher would be capped at 1,425. With emerging markets tanking, I wonder how that will effect gold since a large portion of physical demand is in Asia. I would think shorts would be near 1380-1400
When the facts change I change my mind, what do you do sir
  • #997
  • Aug 20, 2013 8:07pm Aug 20, 2013 8:07pm
I would say PEAK OUT this week, thereafter, a free fall like that Red Apple, no new low. I've been stating about this period for over 4 - 6 weeks now.
Hello World!
  • #998
  • Aug 20, 2013 10:43pm Aug 20, 2013 10:43pm
Quoting ClockTrader
I would say PEAK OUT this week, thereafter, a free fall like that Red Apple, no new low. I've been stating about this period for over 4 - 6 weeks now.
Maybe it has already peaked out OR maybe by Friday, time will tell.
Hello World!
  • #999
  • Aug 20, 2013 10:48pm Aug 20, 2013 10:48pm
Quoting ClockTrader
{quote} Maybe it has already peaked out OR maybe by Friday, time will tell.
I'd give it to 1425, but nobody is interested in it anymore.
When the facts change I change my mind, what do you do sir
  • #1,000
  • Aug 20, 2013 11:03pm Aug 20, 2013 11:03pm
Quoting Pip Anon
{quote} I'd give it to 1425, but nobody is interested in it anymore.
I fired a couple of shorts yesterday with SL @ 1415, apparently 1425 would be safer. I would add more this week.

PS: Locked tens of thousands of pips too (2 sets of Long Roots)
Hello World!
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