All Majors and Gold

if this trinagle breakdown than whats price target is. plz measure n post if u can . thanx for ur valuable comment

I think gold has bottomed for the time been and is in a retrace mode.

Hi G and friends,

gold view this week.....
-possible?
current 1175

gbpaud view this week
continuation of downtrend
-will it cover the gap?
current 1.8361

eurusd view this week
weekly crossover and potential targets
current 1.2462

nzdusd view
current 0.7766
-looking for a drop to .5989

gbpcad view
current 1.7978.....

Hi G,

nice we are in sync.....if it goes to 81 then im very very very happy....

Ah This is where you all come then gold thread posted http://www.forexfactory.com/showthread.php?p=7859220#post785922
if it comes back long it is

Elbert3
sorry don't visit that thread.
Have fun.
Im not a supporter of commercial thread or it's starter.
Good luck.

now i know where all the big boys hang out i will come by if thats ok ?? lol E

Gold wise it's here.
Otherwise i post on albchr thread.
If you are harmonic then cntrader thread.

Im interested to see how the 4 hour candles on silver over the the US session look. I would expect a drop to 15.400 with a possibility this was a small retrace and a continuation to take at the recent low of Silver. If this is the case we know where gold will be heading. If we get a bounce around 15.400 i would say that would be 1160 area for gold and we head up for the cup and handle patttern

Another thing to take into consideration on the daily chart is we have had a 23.6 retrace of Friday's daily candle

gold

another week or so gold will volatile with the upcoming swiss gold referendum....


http://www.cityindex.co.uk/market-an...-and-snb-risk/

http://wordpress.cityindex.co.uk/mar...v-10-85x85.jpg
Swiss gold referendum and SNB risk
November 10, 2014 4:29 pm by Ashraf Laidi

It’s not too early to highlight the potential problems facing the Swiss National Bank, as we approach the November 30th Swiss gold referendum on whether the central bank should raise gold reserves to hold 20% of its total reserves from the current 7.8%. And given the risks to its policy-making, the SNB may have to act pre-emptively. The initiative, supported by the Swiss People’s Party, favours the inclusion of more gold at the bank, but Swiss parliament and the central bank counter that the yellow metal lacks effectiveness as a monetary policy tool. The SNB prefers to continue selling gold and holding liquid currencies to facilitate its FX interventions – a crucial instrument in staving off excessive franc strength and winning the fight against deflation. This includes the central bank’s commitment to support EUR/CHF above 1.2000, which it has been doing successfully since 2011. But this could change.
Beware of those polls
Although the SNB has won previous referenda in support of maintaining gold’s status quo, the latest polls indicate the SNB may have reason to be nervous this time. An online poll by 20 Minuten of 12,491 people on October 27th, showed 47% opposing the referendum, 38% in favour and 15% undecided. An October 24th poll by researcher gfs.bern of 1,206 people found 44% in favour, 39% against and 17% undecided. Will this prove to be another false warning as was the case in the Scottish indpendence referendum?
Disinflationary risk
A victory for the ‘Yes’ camp means the SNB will be forced to hold more gold, becoming constrained in limiting CHF appreciation. The immediate implication of a ‘Yes’ is a positive for CHF and gold bullion. Considering that total gold production stands at 2,982 tonnes, and the SNB’s gold holdings are just below 8.0% of its total reserves, the central bank will have to buy about 10% of annual production over the next five years. The inevitable resulting erosion to the SNB’s currency reserves would hamper its ability of managing policy and combatting disinflation. CPI remains at 0.0% y/y, and with the franc’s 5% appreciation against the euro, disinflation could come back and bite creditors.
The chart below shows that despite the sharp declines in gold and the Swiss franc against the US dollar recently, net speculative futures positioning remains well above its lowest point for both the metal and the Swiss currency. As gold hit fresh four-year lows, gold speculators remain bullish with net long positioning of 63,225 contracts, more than tripling the exposure of July 2013 when gold sustained its biggest decline in three decades. Similarly, Swiss franc speculators show more confidence than in 2012 when the Eurozone debt crisis was at its peak, but they do remain net-short of the currency. The fact that short positioning is a quarter of the peak seen in 2007 implies that there is more “comfortable upside” for speculators to target in the event of i) ; a ‘No’ vote and; ii) further selling of EUR/CHF near the 1.2000 support.
Pre-emptive SNB?
Drifting at 1.2020, EUR/CHF gives the SNB an early warning sign ahead of the November 30th referendum and the December 4th ECB decision (always a possible source for downside EUR/CHF risk). We expect the central bank to begin issuing precautionary statements later in the month in support of the 1.20 peg, such as hints at negative interest rates and reiterating the priority of restraining excessive franc strength. Another option is for the bank to allow a retest of the 1.20 peg and, possibly, a short-lived break of the figure before wrong-footing speculators with a fresh round of euro buying. Finally, there is the December 11th quarterly policy decision for the SNB to announce any new measures in its currency-based monetary policy, regardless of the outcome of the referendum. If you trust the SNB to continue saving the 1.2000 line, favouring USD/CHF remains viable. Having broken above its 2012 channel, USD/CHF’s 0.8200 appears intact.
http://wordpress.cityindex.co.uk/mar...10-530x254.jpg
Swiss gold referendum and SNB risk

interesting........

http://srsroccoreport.com/central-ba...of-gold-until/


CENTRAL BANK INSANITY: The More Yen Japan Prints, The Lower Price Of Gold…Until???
Filed in Precious Metals by SRSrocco on November 10, 2014 • 9 Comments
http://www.linksalpha.com/images/soc...are_button.png
(by Chris Hamilton)
Yen weakness is relative dollar strength is gold weakness…or said otherwise in the land of the blind, the one eyed man is king. If the correlation hasn’t become obvious by now…the carry trade around the Yen and the BOJ’s plan to depreciate or bust seems to have rather outsized impacts across the market spectrum. My interest is the relationship of gold and the Yen. Seems the weakening of the Yen is driving the price of gold…down. Of course the Yen’s weakness is conversely the dollar’s relative strength…but from ’09 and particularly since Japan’s December 2012 turn to “Abenomics”, Gold and the Yen have moved tick for tick. The more Yen Japan prints, the farther the price of gold falls…ahhhh the irony that gold, the finite measuring stick of infinite currencies, seems now only to be measuring the depths TPTB will go to hide currencies relative worth!
Note in the chart below the relatively mild dollar movement vs. the strong correlation of gold vs. the Yen…particularly gaining strength since the onset of “Abenomics” in late 2012.

http://srsroccoreport.com/wp-content...Yen-Gold-1.png
Dec ’09 til Present, the Yen and Gold make a pretty good mirror image of one another.

http://srsroccoreport.com/wp-content...Yen-Gold-2.png

And the mirror image is becoming more tightly defined since the Dec ’12 initiation of Abenomics.

http://srsroccoreport.com/wp-content...Yen-Gold-3.png

And my best “ruler extrapolation” if this trend were to continue (see below)…

http://srsroccoreport.com/wp-content...Yen-Gold-4.png

I can’t say whether this relationship is the work of derivatives or long / short pairs or some other means. The mechanism(s) may be debatable, the durability of paper vs. physical in question, but the relationship is undeniable that the Yen is the anchor sinking gold’s price…until it isn’t??? But something makes me believe Japan’s desire to debase will bring about asymmetric and/or non-linear responses by nations being harmed by Japans currency-palooza. In short, something is likely to break and soon.
Japan’s currency depreciation is effectively China’s, South Korea’s, and other exporter’s currency appreciation. And today’s losers take actions to be tomorrow’s winners…affectionately known as the race to the bottom. When China, Saudi Arabia, Russia, and many others are simultaneously reacting to currency wars the asymmetric or non-linear reactions may not be far off.
Not just Gold…How about Silver or Oil???
While the gold predicament may be better known; Gold’s split personality little brother, silver, (half precious metal and half industrial metal) and Oil (100% industrial) are showing the unmistakable and unsustainable signs of manipulation. Silver nor Oil production (see charts below) are reacting to record demand and higher prices with production increases in kind. Both show stalling or falling production despite record demand and quadrupling of prices.

http://srsroccoreport.com/wp-content...Yen-Gold-5.png

http://srsroccoreport.com/wp-content...Yen-Gold-6.png

The current fall in Silver, Gold, and Oil prices will only increase demand while production continues declining…likely coinciding with the next great global QE efforts and currency wars to combat the global economic slowdown. The seeds of the next and greatest supply / demand discrepancies are sown…how this will be dealt with is really the only open question? Free market price discovery or further manipulation and obfuscation?
This article written by Chris Hamilton can be found at Charlesbiderman.com.

hmmmmmmmmm.........

http://www.goldcore.com/goldcore_blo...t_Man_Standing

New Currency Wars Cometh - Gold To Be “Last Man Standing”
Published in Market Update Precious Metals on 11 November 2014
By Mark O’Byrne

Currency wars are set to warm up again, after Japan's radical decision to further debase its currency through an intensification of already significant monetary easing. There was a palpable coldness from China's Premier Xi Jinping as he greeted Japan's President Abe at the APEC summit in Beijing.
http://dzswc0o8s13dx.cloudfront.net/...1_11-11-14.png
h/t Brian via Zero Hedge
Tensions are normally high between the two countries but are even more so in recent months.
War grievances run deep and are never far below the surface. Along with South Korea, these are the big industrial powers of Asia who are competing for a share of the shrinking export market.
China's economy is slowing. Official figures suggest that growth has slowed to around 7%. Some analysts say it is as low as 5%. While Western countries would rejoice at such figures it must be remembered that in 2012 China's growth in GDP was over 10%.
The decline has affected employment in China which is causing social tensions. The U.S. has put diplomatic pressure on China to not devalue its currency in recent years. So the Chinese resent Japan's unsignaled and unilateral debasement of their currency, especially if it comes with the blessing of the U.S.
It would appear as though Japan's actions were not taken at the behest of Japan's financial elites, even though they stand to gain the most from QE in the short term - especially if the U.S. experience is anything to go by.
How China will respond remains to be seen. Recent renminbi currency swap deals with Canada and Qatar show the increasing risk posed to the dollar’s status as sole global reserve currency.
http://dzswc0o8s13dx.cloudfront.net/...2_11-11-14.png
If and when the dollar falls out of favour as the preeminent reserve currency it's ability to run large deficits for months on end will be greatly compromised.
The symbolism of the official photograph of the APEC summit could not be more clear. Symbolism is important to the Chinese.
In the photograph (see above) are Xi Jinping along with the leaders of Brunei, the Philippines, and Russian President Putin on the left hand side. Far to the right is Barack Obama. President Putin is at President Xi Jinping right hand.
China is emphasising it's influence in East Asia and it's good relations with Russia. The U.S. is presented as insignificant and ineffectual, at least in the affairs of East Asia.
Currency wars are set to intensify again. Indeed, Saxobank has warned of a new “full scale” currency war. We are in a full-blown currency war and the ECB will feel under pressure to take part in that,” said Nick Beecroft, non-executive chairman and senior markets consultant at Saxo Capital last week.
Chief Economist and CIO of Saxobank, Steen Jakobsen warned yesterday that there's an increasing risk we will soon see a "significant paradigm shift" from China in its attitude to the strength of its currency. He says we're about to see a full-scale currency war, notably between China and Japan, two of the world's greatest exporting countries.
Whatever action China chooses with regard to positioning the yuan as reserve currency and using its gold reserves, it seems sure that the U.S. will not be consulted. It is likely that China has enough gold bullion to dethrone the dollar in the event of a dollar crisis or a wider international monetary crisis.
http://dzswc0o8s13dx.cloudfront.net/...3_11-11-14.png
Volatility in the currency markets is likely to increase greatly. If the competitive devaluation of currencies accelerate, fiat currencies risk losing value versus gold. Indeed, in worst case scenarios some may revert to their intrinsic value - zero.
When the dust settles gold will be the last man standing as it cannot be created or destroyed by governments. It remains the best form of financial insurance.
Get Breaking News and Updates on the Gold Market Here
MARKET UPDATE
Today’s AM fix was USD 1,151.25, EUR 927.90 and GBP 726.43 per ounce.Yesterday’s AM fix was USD 1,172.00, EUR 938.20 and GBP 737.25 per ounce.
Gold fell $25.90 or 1.14% to $1,149.40 per ounce yesterday and silver slipped $0.18 or 2.2% at $15.56 per ounce.
http://dzswc0o8s13dx.cloudfront.net/...4_11-11-14.png
Silver in U.S. Dollars - 10 Years (Thomson Reuters)
Gold remained firm near $1,150 an ounce as physical demand for gold bullion coins and bars especially from Chinese store of value buyers increased after yesterday's weakness.
Spot gold was flat at $1,150.45 an ounce at 1021 GMT, while Comex U.S. gold futures for December delivery fell $9.90 an ounce to $1,149.90.
Silver slipped 0.3% at $15.51 an ounce. Spot platinum was down 0.2% at $1,190.24 an ounce, while spot palladium was down 0.2 percent at $757.35 an ounce. Spot palladium was down 0.2% at $757.35 an ounce.