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Only Gold!

  • #12,981
  • Jul 31, 2014 9:48pm Jul 31, 2014 9:48pm
Quoting fxsnakes
{quote} Does any know what the cost of gold is to extract it from the ground? If gold cost a mine $1230 o/z to dig up, And gold is at $1283. When would miners stop digging? Interesting thought to ponder..
The article posted on the previous page mentioned $1200 an ounce. The largest mines will always be able to handle prices. When enough smaller companies goes bust and shut down there wont be enough supply to meet demand and prices will increase... and so the cycle continues.
As the lights go by so too do the shadows move
  • #12,982
  • Jul 31, 2014 10:47pm Jul 31, 2014 10:47pm
i dont think the low of yesterday we will see again....expecting the price today to go back where it was yesterday then keep on rallying,im taking full equity long from here 1283
  • #12,983
  • Jul 31, 2014 10:54pm Jul 31, 2014 10:54pm
Quoting wafiqsalameh
i dont think the low of yesterday we will see again....expecting the price today to go back where it was yesterday then keep on rallying,im taking full equity long from here 1283
Careful, it hurt!
Attached Image
That which does not kill us makes us stronger
  • #12,984
  • Jul 31, 2014 10:59pm Jul 31, 2014 10:59pm
This is xaueur. It is a similar setup on xauusd with a cup and handle like formation. I am still long but I will hedge if it looks like a break south, depending on timing (NFP).
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd #20.jpg Size: 157 KB
As the lights go by so too do the shadows move
  • #12,985
  • Jul 31, 2014 11:04pm Jul 31, 2014 11:04pm
Quoting moneymove
{quote} Careful, it hurt! {image}
you right brother,and thanks for the warning,im being doing my homework and found on some daily chart that yesterdays middle on a lower support side is to be higher than 1288.52 and the middle yesterday was 1288.87,so i consider that as a good supprt is there, and today the middle has to be over 1286.54,of course i will be waching the lower support on the 4h not to be broken and thats my stop,its strongly worth the risk
  • #12,986
  • Jul 31, 2014 11:14pm Jul 31, 2014 11:14pm
Quoting wafiqsalameh
{quote} you right brother,and thanks for the warning,im being doing my homework and found on some daily chart that yesterdays middle on a lower support side is to be higher than 1288.52 and the middle yesterday was 1288.87,so i consider that as a good supprt is there, and today the middle has to be over 1286.54,of course i will be waching the lower support on the 4h not to be broken and thats my stop,its strongly worth the risk
This is my daily gold view:
http://www.forexfactory.com/showthre...70#post7643070

And as we can see gold now halfway to second blue circle target (1272). Will watch PA at 1272 area, if PA slice through it like when it slice the first blue circle, there is high prob that gold will plummet further to 1240 area before reversing.
Just my humble opinion. Good trading!
That which does not kill us makes us stronger
  • #12,987
  • Jul 31, 2014 11:20pm Jul 31, 2014 11:20pm
i already paid my $60 of spread,no coming back
  • #12,988
  • Jul 31, 2014 11:55pm Jul 31, 2014 11:55pm
Quoting fxsnakes
{quote} Does any know what the cost of gold is to extract it from the ground? If gold cost a mine $1230 o/z to dig up, And gold is at $1283. When would miners stop digging? Interesting thought to ponder..
http://www.forexfactory.com/mitchoss

Mitchoss knows better.

I think it depends on the mine, small mines would have to shut down business at 1000 - 1100

Maybe some closed in the past few years..

Large mines could survive until 900

PS: Gold has been creating a new high every year, even in the past few years in India, indeed a safe haven here..
Hello World!
  • #12,989
  • Jul 31, 2014 11:55pm Jul 31, 2014 11:55pm
Added 2 longs @ 1283
Hello World!
  • #12,990
  • Jul 31, 2014 11:56pm Jul 31, 2014 11:56pm
Quoting moneymove
{quote} Careful, it hurt! {image}
Yea, it did hurt last year in June :-)
Hello World!
  • #12,991
  • Jul 31, 2014 11:58pm Jul 31, 2014 11:58pm
Price is finally getting some fresh air, out of the cramped area.. feels good..
Attached Image (click to enlarge)
Click to Enlarge Name: fresh-air.PNG Size: 18 KB
Hello World!
  • #12,992
  • Aug 1, 2014 12:03am Aug 1, 2014 12:03am
I might wanna take some profit from GREEN shorts today, would like to auto-close these @ 1291, at least a few or maybe all..

I'll wait for NY morning.. should set nice GREEN SL now..
Attached Images
Hello World!
  • #12,993
  • Aug 1, 2014 12:05am Aug 1, 2014 12:05am
Quoting ClockTrader
I might wanna take some profit from GREEN shorts today, would like to auto-close these @ 1291, at least a few or maybe all.. I'll wait for NY morning.. should set nice GREEN SL now.. {image} {image}
Just closed one GREEN short, feels healthy and good..
Hello World!
  • #12,994
  • Aug 1, 2014 12:10am Aug 1, 2014 12:10am
I can see a Regular Bullish Divergence in gold so I go long for the first move, then go short !
  • #12,995
  • Aug 1, 2014 12:12am Aug 1, 2014 12:12am
i believe todays low around yesterdays close and the high 1295.83
  • #12,996
  • Aug 1, 2014 12:16am Aug 1, 2014 12:16am
Gold will rally again to over 1290 today based on fibo analysis
  • #12,997
  • Aug 1, 2014 12:21am Aug 1, 2014 12:21am
Quoting iwishtowin
Gold will rally again to over 1290 today based on fibo analysis
heeeeey,i like you man,thats what i want to hear
  • #12,998
  • Aug 1, 2014 12:23am Aug 1, 2014 12:23am
Quoting ClockTrader
{quote} http://www.forexfactory.com/mitchoss Mitchoss knows better. I think it depends on the mine, small mines would have to shut down business at 1000 - 1100 Maybe some closed in the past few years.. Large mines could survive until 900 PS: Gold has been creating a new high every year, even in the past few years in India, indeed a safe haven here..
It's not just about price though (also depending on USD strength imo), there needs to be demand. I live in Western Australia the hub of Aussies latest mining boom. The price of Gold was closely watched by all and many small mines sprang to life during the boom but disappeared as quickly. The processing plants (the main costs of an operation) still exist but they shutdown to care taker mode until prices once again approach a profitable level plus demand. We have the largest Gold mine in the southern hemisphere and during quiet times they have capabilities to wind back operations suiting market expectations.
As the lights go by so too do the shadows move
  • #12,999
  • Aug 1, 2014 12:25am Aug 1, 2014 12:25am
Quoting ClockTrader
{quote} Yea, it did hurt last year in June :-)
Oh yeah, June 2013.. I called it black June in my trading journal, well perhaps red June more appropriate
That which does not kill us makes us stronger
  • #13,000
  • Aug 1, 2014 12:30am Aug 1, 2014 12:30am
Quoting wafiqsalameh
{quote} heeeeey,i like you man,thats what i want to hear
hi attached screenshot for your reference. Price has hit the baseline and gold is not habitual to cross this level easily. Last time this occured when then top level was hit at 1332 and gold price fell. So it is expected that gold price will rise again from this point onwards for a couple of days.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh1.png Size: 36 KB
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