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

Trigger my adjusted SL @ 1252.50.

In addition, new trade: short cable @ 16180

are u short ?

Yea, from 1255, small profit. Going to sleep a while and come back to see any trading opportunity in US session.

PA swing in the very narrow range. It look like to burst. Really I dont know UP or DOWN?
I am long at 1252. TP at 1260. Good luck you all

make ur TP 1275 sl @ 1243 for much safe

A current analysis of gold before the US session really kicks in:
-Recently smacked down through the 0.786 fib leve with a 1.272 retracement level meaning a strong potential for bullish conditions, however, in the past this has been pretty good indicator that the market would move away from that combination. Gold has done that for a whol day and then come back off the high that set in motion towards. That was based on the Jun to August levels this year. This condition has not been experienced in this market at this scale before. With the ecenomic forcasts from the superpowers of finance, we are cautioned against too much emphasis on bull market.
-Chinese demand for gold has drastically dropped in recent times which means that the demand for gold has slowed by 30% over the past couple years, and we are seeing this in the markets being at around 35% off the highset prices in history. We need to question whether the Chinese population has grown weary of the glittering metal. We realistically need to consider that we are now at a level that may be the De Facto range of gold for the forseeable future. A range of around $750 to $1000 as it's amplitude. The only difference we are experiencing now is a shift in frequency which makes gold a volatile market.
-Today we have seen a correlation between the Eur:Jpy markers and USD:JPY marker as to the influence on the policy of asian markets as viewed by western nations.
- The British BoE Governor is in a meeting reviewing economic policies that have a big influence on global markets with their results over the longer term. bear in mind that he is Canadian and has great experience in this business. Canada has historically had phenomenally successful control over their economy in the longer term during recessions, so expecting the British Governor to provide a different outcome would be counter-intuitive. GBP had maintained a strong increase in growth (relatively speaking). THE UK HAS THE FASTEST GROWING ECONOMY IN EUROPE.
- GBP Strength has a knock-on effect on the Euro as it signals reforms are working in Europe as a whole and that trade is improving globally.
- Expecting gold to become bullish is to expect that the global economy is becoming more depressed. The opposite is currently true at this point in time. It may change in January, but for now, the global trade markers are indicating growth.

I would set my SL at 1250.25.

Logic behind this level? If gold is bullish I would want to see it continue upwards for the rest of the day and not stop me out. Increasing this risk is tantamount to say to myself that my analysis is probably wrong and therefore I should share my losses to all the other gold traders because I don't want it. Why should I give away more than $1.50 when I can put my stop to safety above my entry @1249.95? Better to protect my equity than offer the market to reduce my capital balance which keeps me trading.

Quiet reading for those awaiting a move:

The topic of gold market manipulation during the London AM fix is not new to Zero Hedge: in fact we have discussed both the historical basis and the raison d'etre of the London gold fix, as well as the curious arbitrage available to those who merely traded the AM-PM spread, for years. Which is why we are delighted that none other than Bloomberg has decided to break it down for everyone, as well as summarize all the ways in which just this one facet of gold trading is being manipulated.

http://www.zerohedge.com/news/2013-1...ing-london-fix

Well done to all who went short from above 1252.25. You are now in profit for a while.

Short positions are tempting today.

take care from short .. its last call today will hit 1275 ..from max 1244

Hold onto your shorts, people. There may be more to come later on today.

my target hit now ... close with profit and for now am preparing for new trade targeting at list 1275 .. congratulations for all whom follow me

if it will be above 1270 it can hit to 1290 .. right ? what is your target ?

I re-enter a new short at 1250. target 1235 - 1230. Thinking of strong dollar in next hours and a little rally in stock market.

Okay. Thank you for the advice. I will think carefully about it. You're right, I didn't stick to my rules. However I'm not a scalper or a day trader. I'm a short-term trader, and because of the volatility of gold I put my stop loss greater than 15 pips. By the way, what is the name of the book that you were talking about?

If it hits 1270 +-5, then what will be its next move, going to cross 1300.

there is resistance at 1290-1311..

short @1253.99
out @ 1249.00 following u

Half of ur mission is done

More good reaasing material for you who are in profit.:

http://www.zerohedge.com/news/2013-1...s-qe-out-water

"..But more importantly, as with all communicating vessels, global liquidity is now in a constant state of laminar flow - out of central banks: either unadulterated as in the US, Japan, Europe and the UK, or implicit, when Chinese government-backstopped banks create nearly $4 trillion in loans every year. If one issuer of liquidity "tapers", others have to step in. Indeed, as we suggested a few weeks ago, any possibility of a Fed taper would likely involve incremental QE by the Bank of Japan, and vice versa.
However, the biggest workhorse behind the scenes, is neither: it is China. And if something happens to the great Chinese credit-creation dynamo, then we see no way that the rest of the world's central banks will be able to step in with low-powered money creation, to offset the loss of China's liquidity momentum.

Finally, when you lose out on that purchase of a home to a Chinese buyer who bid 50% over asking [price] sight unseen, with no intentions to ever move in, you will finally know why this is happening."