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  • #11,221
  • Jul 9, 2014 4:19pm Jul 9, 2014 4:19pm
candle closed we'll be looking for some sideways again today where 1330 will be tested again. if it fails i'm closing my long and adding a short i think
  • #11,222
  • Jul 9, 2014 5:24pm Jul 9, 2014 5:24pm
Quoting eruc
{quote} break UP )
1327 is very important level...
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  • #11,223
  • Jul 9, 2014 8:19pm Jul 9, 2014 8:19pm
Looks like the market is headed higher as traders ignore the Fed.
"The market can remain irrational longer than you can remain solvent"
  • #11,224
  • Jul 9, 2014 9:33pm Jul 9, 2014 9:33pm
and with this, all the requirements are met. usd is shit, eur is shit, aud is shit, cny is shit and jpy is medium shit. therefore gold will be the safeheaven for the shorttime momentum. i'm seting up an entry point.
Good luck all

Jesus i almost forgot the GBP. theres a high probability ppl will turn to it therefore this might completly invalidate my strategy i think i need to rethink my stop loss and entry point
  • #11,225
  • Jul 9, 2014 10:33pm Jul 9, 2014 10:33pm
The Indian Budget is announced in approx 2 hours time.

Narendra Modi Might announce the beginning of a repeal and easing of existing Gold Import Tarrifs. Any such announcement should be very bullish....
  • #11,226
  • Jul 10, 2014 12:06am Jul 10, 2014 12:06am
Quoting Dafonz
The Indian Budget is announced in approx 2 hours time. Narendra Modi Might announce the beginning of a repeal and easing of existing Gold Import Tarrifs. Any such announcement should be very bullish....
Since when did Gold / Forex began to follow Indian news?
Hello World!
  • #11,227
  • Jul 10, 2014 12:18am Jul 10, 2014 12:18am
don't know clock but i got very interested to know what happens in 13 mins
  • #11,228
  • Jul 10, 2014 12:47am Jul 10, 2014 12:47am
anything of importance happened ? (in relation to the budget and gold)
  • #11,229
  • Jul 10, 2014 1:01am Jul 10, 2014 1:01am
Quoting Windstrown
don't know clock but i got very interested to know what happens in 13 mins
Quoting msfu
anything of importance happened ? (in relation to the budget and gold)
Entire India is expecting the price of Gold to drop by 2% as the budget being announced is supposed to slash import duties. This has nothing to do Forex the way I see. Its supposed to affect Gold in India only. If I go by my analysis, I don't care about news at all, except US news for time triggers.

About 10 min back I got a call from my broker, they say I should sell, they know I've been buying, buying and only buying. I tell my broker / RM, bring the price down, I'll be more than happy to buy more. Bring it on!

So? did the price fall in India? not so far. Price here depends on $ <--> INR and US Gold Price, its a little complicated.

IF it does fall here, like I said, I would be happy to buy more (future contracts).
Hello World!
  • #11,230
  • Jul 10, 2014 1:04am Jul 10, 2014 1:04am
Quoting ClockTrader
{quote} {quote} Entire India is expecting the price of Gold to drop by 2% as the budget being announced is supposed to slash import duties. This has nothing to do Forex the way I see. Its supposed to affect Gold in India only. If I go by my analysis, I don't care about news at all, except US news for time triggers. About 10 min back I got a call from my broker, they say I should sell, they know I've been buying, buying and only buying. I tell my broker / RM, bring the price down, I'll be more than happy to buy more. Bring it on! So? did the price...
Thanks a lot for the info CT
  • #11,231
  • Jul 10, 2014 1:43am Jul 10, 2014 1:43am
Lets wait until NY morning to see if there is anything kool happening, easy patterns to understand? OR clear bearish / bullish behavior? Whatever, I would remain keen to see whats next? as nice PA is on my cards.

I'm in no mood to buy more unless there is a solid reason, secondly, I might juggle my SLs to safeguard the longs.
Hello World!
  • #11,232
  • Jul 10, 2014 2:45am Jul 10, 2014 2:45am
Quoting ClockTrader
{quote} Since when did Gold / Forex began to follow Indian news?
You do know that historically the India gold market and consumer is the biggest buyer of physical gold in the world??(china only pipped it this year) surely i don't have to explain the implications of demand and supply....


The most interesting aspect of this is how the weather in India can affect the price of Gold.
It is said that less rain due to either El Nino or a weak monsoon leads to below average crop yields which again leads to Indian farmers having less rupees and hence less demand for Gold.

http://www.fastmarkets.com/gold-news...soon-ubs-76001


also more recently: http://www.metal.com/newscontent/625...s-first-budget


This weather pattern also sometimes fits in with the established Gold seasonality swings.
  • #11,233
  • Jul 10, 2014 2:46am Jul 10, 2014 2:46am
No change in Indian budget on gold import
  • #11,234
  • Jul 10, 2014 2:47am Jul 10, 2014 2:47am
Heavy short covering in Indian gold exchange .. MCX
  • #11,235
  • Jul 10, 2014 2:59am Jul 10, 2014 2:59am
from this news Indian gold is suddenly change and now it trades +500 points .no international gold effect no USDINR effect
  • #11,236
  • Jul 10, 2014 3:04am Jul 10, 2014 3:04am
this weekly candle closing is very critical for next way of the metal
if it closes around 1325 and upper, it is a window for testing 1350 area next week
but if it closes around 1315 then we should see a nice pull back
waiting for NY ,as told as CT
  • #11,237
  • Jul 10, 2014 3:12am Jul 10, 2014 3:12am
i wonder when will gold going south @1300...
Keep calm and go GREEN...
  • #11,238
  • Jul 10, 2014 3:29am Jul 10, 2014 3:29am
You all know I never follow news, whatever, I got a good reason to cheer up, you know that :-0

Price has shot well, got a reason to smile!


Quoting VikasK
from this news Indian gold is suddenly change and now it trades +500 points .no international gold effect no USDINR effect
Quoting Dafonz
{quote} You do know that historically the India gold market and consumer is the biggest buyer of physical gold in the world??(china only pipped it this year) surely i don't have to explain the implications of demand and supply.... The most interesting aspect of this is how the weather in India can affect the price of Gold. It is said that less rain due to either El Nino or a weak monsoon leads to below average crop yields which again leads to Indian farmers having less rupees and hence less demand for Gold. http://www.fastmarkets.com/gold-news...soon-ubs-76001...
Hello World!
  • #11,239
  • Jul 10, 2014 3:31am Jul 10, 2014 3:31am
but will the MCX affect XAU/USD ?
  • #11,240
  • Jul 10, 2014 3:40am Jul 10, 2014 3:40am
Quoting msfu
but will the MCX affect XAU/USD ?
how can affect MCX to XAU/USDthere is no change in XAU/USD but on MCX it change 1.80% plus and XAU/USD is on 1328-1330 range
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