Gold (Au79)

Hi,

Thanks to Farshidu

and my thought about Gold future is :

Hi,

Thanks to Farshidu

and my thought about Gold future is :

Yesterday, negative ADP Non-Farm Employment Change had pushed Gold up above 1190/1200 and presently in Asian session, it is sitting at support around 1200.

It had also broke the downtrend channel to the upside and consolidating in a new region.

Bro, nice colour, btw mind elaborate your chart, don't understand it.

Not sure how the upcoming events will affect Gold, but technically there's a few possibilities.

But on a weekly chart, will like to see a test of the top channel.

its good to see iranian guys here

Hi golden ppl
Im long gold myself, but think this rally will be the last hurrah. Ecpecially after recently, i saw a weird newspaper telling a story about how gold will move north. I mean this paper usually only writes about popular stuff like queens, kings, trannys, murders, rapists etc.. Anyone here looking to short on the long term? and why if you want to share? I expect to see massive white propaganda on gold soon.

Gold May Be Nearing Peak Production
http://www.usagold.com/cpmforum/2015...et-report-556/
While global mining output continues to climb, be aware that none of the output from China the worlds largest producer is making it to the open market. That may be true to some degree for Russia as well.


Why China's rise has ANZ making a hugely bullish call on gold
http://www.businessinsider.com.au/wh...on-gold-2015-3
Unsurprisingly it is China that would need to buy the lions share of the gold, so the country which will be the biggest influence on price in the decades ahead.


Supporters, opponents of Greek gold mine clash
http://www.newsobserver.com/news/bus...e17450570.html


Gold to shine on weak US data
http://www.thehindubusinessline.com/...SS_Syndication
There is no major data release from the US in the beginning of the week. So the impact of Fridays bad US jobs data can continue to drive gold price higher in the first couple of days. The US Federal Reserves minutes are due for release on Wednesday, which will be followed by the usual weekly jobless claims on Thursday. With less data to impact the price, dollar movement will have a greater influence in the yellow metals price this week.

Nice TA & FA analysis from this article, I extracted some paragraphs for those who doesn't like reading too much.

http://www.marketoracle.co.uk/Article49836.html

Call them any number of names but the elites are not stupid, and they are not about to change horses mid-stream, as it were. There are a few developments in the works that need to come to fruition before any significant "reset" in Precious Metals valuation upwards may occur. The most significant is the process China is undertaking to be a part of the International Monetary Fund's [IMF], Special Drawing Rights [SDR], a basket of currencies that will include the Renminbi, [RMB], aka Chinese yuan, in addition to the Federal Reserve's US fiat "dollar."

There will be an informal IMF board meeting this May to review the SDR basket of currencies. The main issue will be inclusion of the RMB, but that decision will not be formally reviewed until sometime this Fall. No changes can take effect prior to January 2016, based on a required 70 or 85 percent majority vote on the IMF council. With these timing factors, it does not makes sense to expect any major shake-up that would affect the pricing of gold and silver in a major way. No distractions for the status quo.

Gold and silver have no third-party counter risk. Both are debt-free and with a proven history for having an intrinsic value. Those who choose to ignore history and opt for paper fiat, instead, not only run the risk of further erosion in perceived "value," but now have the added risk of bank confiscation of all deposits, which thanks to more Obama and Federal government laws passed, means your deposits are owned by the banks. Once in, it ain't yours any more. That is significant information.

What is of more immediate interest is the fact that the rigging, or as has been called rather appropriately, the London Gold Fix as determined by four participating bank "fixers," is about to come to an end this coming Friday, 20 March 2015. Taking control will be the International Commodity Exchange, and it opens the door to Chinese banks to become participants, at some point.

Will this fix fix the fix that needed to fix the fix prior to this new fix? Time will tell. What we know for certain is that with China's control of physical gold trade on the Shanghai Gold Exchange [SGE], it takes the power to fix the price of gold out of the hands of the elite's corrupt bankers and more in control of communists who exist to serve their central authority. We are not certain this is progress, but it is change.

The end of artificial price manipulation may be coming to an end now that London can no longer fix the fix to their advantage. We could see the beginning of a more realistic price setting for physical gold, but no one has a clue how China will act in assuming a larger influencing control. There is no love lost between East and West, for a number of reasons, so this development may prove to be very interesting. Also, keep in mind, China and Russia are "BFF," [Social media acronym for Best Friends Forever].

Mmmhhh 2 form right now? A double top and inverted head and shoulder?
I think as long as the retrace not lower than 1182, we still have upside momentum
Let's see if it test back 1204

Hey Dude .

Your analyse was awesome ... today Gold touches that price you predicted

To those who PM me, I don't want to repeat myself. Don't follow me. The trades I took in demo are the trades I took in live, but the trades in live doesn't all reflect in demo, because I don't have the time to trade in demo, and the entries are not as good as my live.

For the testing demo, my max leverage use are 68:1, and I didn't even utilize all 500:1 leverage. It's all about how you manage your risk, your trades, your TP, your SL. As long you know how you manage your loss, is it so hard to win?

My live's average leverage is 10 to 50, and I cut my loss quick or small. Don't follow my demo, unless you know what you are doing.

While drinking for 8 hrs, I saw clowns bickering in other threads, it's really too entertaining. Maybe I should close all my explorers. Because if you follow me, you don't know how and when I close my trade.

Some people have fixed SL, but even I had a fixed SL, I will try to reduce my loss by closing early according to the market at the time I am monitoring. Even if I lose, I know I will make the loss back. Those who are in my Skype somehow know how I trade.

The screenshot I post is to answer the PM who ask me if I trade the same way I trade my demo, I trade the same, just the leverage is different and smaller in my live.

If you know your risk, why scare of losing?

Dollar Drop Signals Worlds Best Forecaster to Start Buying
http://www.bloomberg.com/news/articl...est-forecaster

Crashing Ruble Means Russia Has Cheapest Costs for Gold
http://www.bloomberg.com/news/articl...all-with-ruble
Polymetal International Plc, Russias second-largest precious metal miner, had average production costs as low as $625 an ounce in 2014, the company said last month. That may fall to $575 an ounce this year. Polyus Gold, the countrys top supplier of the metal, recorded $654 in per-ounce production costs for the year, according to BCS Financial.

http://www.usagold.com/cpmforum/2015...et-report-558/

Goldman Sachs was quick to suggest that the right policy would be to put hikes on hold for now. Former Goldman Sachs partner and managing director, now New York Fed President, William Dudley is hopeful that the recent string of downside surprises are temporary.

Dudley was therefore not inclined to rule out tightening just yet. However, he cautioned that If financial conditions tightened unduly, then this will likely cause us to go much more slowly or even to pause for a while.

Mr. Dudley also pointed out that the recent rise in the dollar has resulted in a significant shock to the economy. Most of the dollar strength is directly attributable to Fed rate hike expectations that have developed over the past several quarters. It begs the question: Why would a rate hike even be on the table if dollar strength is causing a significant shock?

Initially rate lift-off was expected to occur in March, then it was moved back to June, and then September. Now, not only is rate hike not likely this year at all, but next year may be off the table as well. There are even renewed whispers of QE4.

http://www.marketoracle.co.uk/Article50151.html

If the RBA does cut rates to 2%, it will be the lowest level seen in Australia since the 1950s. A rate cut should provide good support for gold priced in Australian dollars. If the RBA does not cut rates on Tuesday it will almost certainly will at its May meeting.

The FOMC minutes from the March meeting will be released on Wednesday, again investors will be looking for any hints as to when the Fed will pull the trigger on rates.

Thursday sees the Bank of England meet however no change is expected, while later in the session we will see the release of the U.S. Initial Jobless claims. As we know the employment data out of the U.S. has been very weak of late so further weakness is going to put pressure on the US dollar while boosting the demand for gold.

On Friday the big data to watch is the China CPI for March, it is expected to drop to 1.3% after it rose to 1.4% in February on the back of higher prices over the Lunar New Year. Consumer inflation in China is expected to remain subdued in the short to medium term.

Gold is expected to test the US$1,220/oz resistance level this week. Gold investors are looking for gold to consolidate above this level before moving higher.

The weak NFP had matched the expected movement for Gold the past few days testing the possible resistance.

Although different brokers, different timeframes, the price still move within the ADR.

http://www.forexfactory.com/news.php...16#post8189367

Statement by Glenn Stevens, Governor: Monetary Policy Decision

At its meeting today, the Board decided to leave the cash rate unchanged at 2.25 per cent.

Moderate growth in the global economy is expected in 2015, with the US economy continuing to strengthen, even as China's growth slows a little from last year's outcome.

Commodity prices have declined over the past year, in some cases sharply. The price of oil in particular is much lower than it was a year ago. These trends appear to reflect a combination of lower growth in demand and, more importantly, significant increases in supply. The much lower levels of energy prices will act to strengthen global output and temporarily to lower CPI inflation rates. Prices for key Australian exports have also been falling and therefore Australia's terms of trade are continuing to decline.

Financial conditions are very accommodative globally, with long-term borrowing rates for several major sovereigns at all-time lows. Financing costs for creditworthy borrowers remain remarkably low.

In Australia the available information suggests that growth is continuing at a below-trend pace, with overall domestic demand growth quite weak as business capital expenditure falls. As a result, the unemployment rate has gradually moved higher over the past year. The economy is likely to be operating with a degree of spare capacity for some time yet. With growth in labour costs subdued, it appears likely that inflation will remain consistent with the target over the next one to two years, even with a lower exchange rate.

Credit is recording moderate growth overall. Growth in lending to investors in housing assets is stronger than to owner-occupiers, though neither appears to be picking up further at present. Lending to businesses, on the other hand, has been strengthening recently. Dwelling prices continue to rise strongly in Sydney, though trends have been more varied in a number of other cities. The Bank is working with other regulators to assess and contain risks that may arise from the housing market. In other asset markets, prices for equities and commercial property have risen, in part as a result of declining long-term interest rates.

The Australian dollar has declined noticeably against a rising US dollar over the past year, though less so against a basket of currencies. Further depreciation seems likely, particularly given the significant declines in key commodity prices. A lower exchange rate is likely to be needed to achieve balanced growth in the economy.

At today's meeting the Board judged that it was appropriate to hold interest rates steady for the time being. Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation consistent with the target. The Board will continue to assess the case for such action at forthcoming meetings.

After FOMC, I expect some bounce off the bottom channel for a monthly April or May bullish candle before any rate hike later.

What Gold's Bull Market (That's Right, Bull Market) Means For Miners
http://www.marketoracle.co.uk/Article50217.html

1) People everywhere are getting seriously distorted pictures of their world. Europeans and Japanese especially are seeing zero consumer price inflation but rapid currency depreciation against assets such as equities, penthouses and, lately, gold. So is that inflation or deflation? This question is just as confusing for economists as it is for regular people.

2) The US, now feeling the impact of a too-strong dollar on corporate revenues and (potentially) earnings and therefore share prices, can't keep this up much longer and will have to not just delay the promised rate increases but change course entirely and join the global devaluation party. Deflation is not an option when your debts exceed 300% of GDP.

But in the meantime, the world's non-US gold miners (which comprise the vast majority of the sector) are seeing the world through a less-confusing, more rose-colored lens. The price of the gold they're mining is up nicely, usually at a double-digit annual rate, while their labor costs are stable due to flat local wage growth and their fuel costs are down big thanks to the (partially strong-dollar-induced) plunge in oil prices.

So almost alone among major industries, the miners are entering a margin sweet spot, with higher selling prices and flat-to-falling costs.

What is Next for Gold and Silver Markets?
http://www.marketoracle.co.uk/Article50218.html

For this reason, economic data in the upcoming week will be particularly important in gauging the overall strength or weakness in the global economy. Positive surprises in areas like employment and industrial production could put additional pressure on gold and support the global stock benchmarks, said Tony Davis, metals analyst at Atlanta Gold & Coin. If these next reports come in weaker than expected, we will likely see some renewed rallying in precious metals.