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Quoting pladee
Any chance 1120 and 1209 ?? For me I am waiting and love to see a Bullet V Shape
Sorry but I am highly doubtful!

I was expecting gold price to respond well to 1131 level by bouncing back with a huge candle going back towards 1141. But instead, it kept on flirting with that level and Comex actually closed below it.

There is no US data on Monday, I will monitor how Asia opens, and based on that I will decide if I should remove my longs or keep them. IMO gold may see resistance around 1141 on Monday, but the way it reacted to 1131, it seems likely that it is heading for 1124, 1100, 1080 in coming weeks. We are now in a completely new waters. However, the kind of bounce back you are looking for maybe around 1080.

Also note that the normal trading is bullish but change due to USD is very bearish. My analysis is that USD will keep putting on pressure, due to the fact that Fed rate hike is now expected earlier than later.
Quoting faraz37
{quote} Sorry but I am highly doubtful! I was expecting gold price to respond well to 1131 level by bouncing back with a huge candle going back towards 1141. But instead, it kept on flirting with that level and Comex actually closed below it. There is no US data on Monday, I will monitor how Asia opens, and based on that I will decide if I should remove my longs or keep them. IMO gold may see resistance around 1141 on Monday, but the way it reacted to 1131, it seems likely that it is heading for 1124, 1100, 1080 in coming weeks. We are now in a...
It will be bad idea to increase rates this year, economy doesn't seems that good
WTF just happened with gold?? Touching 1081. Any news??
Quoting dearest
WTF just happened with gold?? Touching 1081. Any news??
Im sorry if you lost your account like many others! Don't exactly know what happened it was not a glitch... more like massive selloff maybe on govt. level.

I wonder what SkyzerFX has to say about this now... whatever conspiracies he gives its always the opposite
It's over for the gold..
congratulation for those who holding their short
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Quoting faraz37
{quote} Im sorry if you lost your account like many others! Don't exactly know what happened it was not a glitch... more like massive selloff maybe on govt. level. I wonder what SkyzerFX has to say about this now... whatever conspiracies he gives its always the opposite
Nope. I didnt lose my account since i skip long on gold for many times
Some big fund probably sold whatever gold they had to cause such a huge move
Quoting dearest
WTF just happened with gold?? Touching 1081. Any news??
1132 is a crucial support. It's a breakdown of Elliot wave 5, baby. This is the final downward wave. Now, it's trying to find a floor. 1098 is a good Fibonacci extension level. Next is 1040.
Gold bugs must be accumulating bars now. It's the best time to buy physical gold.
Gold will hit $900 before this year is over. Trade with a long term view.
Be the dragon master...
Quoting atom3
Some big fund probably sold whatever gold they had to cause such a huge move
Yea, 5 tons of Gold was sold in China market, but yet to find any articles mentioning the reason of selling so much Gold. Its approx 16x millions USD.
The only winner is the one who survive the longest...
Quoting kinspk
{quote} Yea, 5 tons of Gold was sold in China market, but yet to find any articles mentioning the reason of selling so much Gold. Its approx 16x millions USD.
someone in china sold physical contracts of 3.3 million lots of the metal, or about 33 tonnes.
http://www.timeslive.co.za/world/201...-Chinese-sales
Quoting xolvox
{quote} someone in china sold physical contracts of 3.3 million lots of the metal, or about 33 tonnes. http://www.timeslive.co.za/world/201...-Chinese-sales
Thanks Bro, btw how do you know it's "someone" selling "physical contracts"? For "someone" to sell at a Monday with 33 tonnes alone is quite impossible, and also a group of traders to sell at the same time where there's no liquidity. More like an institution or governments' actions.

As stated in the articles, it mentioned about taking advantage of Japan Holiday, maybe another wave of selling coming.

http://www.fxstreet.com/news/forex-n...a-24c74944be73

http://www.reuters.com/article/2015/...1002DI20150720

http://www.reuters.com/article/2015/...0PU0XD20150720
The only winner is the one who survive the longest...
It's not very important but i am doing the calculations several times already and i can't get those 3.3 million lots to equal 33 tons. 1 lot is 100 troyounces and 1 of the last is 31.103 grams and 1 ton is 1000 kilogram s so wheres the mistake ?
i dont know, i just found the article.
its physical contracts on shanghai exchange, not in forex.
Gold pluged so deep after break Weekly Support Nov 2014
Quoting kinspk
{quote} Yea, 5 tons of Gold was sold in China market, but yet to find any articles mentioning the reason of selling so much Gold. Its approx 16x millions USD.
Bullshit! Nobody sold single OZ. Paper Futures has been dumped, as usual..

That's how they do it since 2012 pick.. Dumping by truckloads.. All the paper...

Nobody deliver anything. I'm sorry for Gold Miners.. They are simply Dummies..

Why would you supply those clowns with GOLD? Put it in warehouse and use collateral.

Well I guess they would like to learn this the hard way.. GDX now ALL TIME LOW..

And that's why EXACTLY? cause monkey FED might or might not rise 0.000000000002% Fed Rates?

What a joke.. Miners should act or get destroyed, As of now FED has cheapest mine in the WORLD

and that's COMEX syndicate, they mine Paper COLD all day long at ZERO cost, cannot

compete with that..
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Quoting SkyzerFX
{quote} Bullshit! Nobody sold single OZ. Paper Futures has been dumped, as usual.. That's how they do it since 2012 pick.. Dumping by truckloads.. All the paper... Nobody deliver anything. I'm sorry for Gold Miners.. They are simply Dummies.. Why would you supply those clowns with GOLD? Put it in warehouse and use collateral. Well I guess they would like to learn this the hard way.. GDX now ALL TIME LOW.. And that's why EXACTLY? cause monkey FED might or might not rise 0.000000000002% Fed Rates? What a joke.. Miners should act or get destroyed,...
Yea possible. On the other hand I yet to find any articles on who sold that much of Gold. How the hell "they" require to sell that much as it's not a small amount. In need of money? Or they know Gold going deeper soon? When Eurchf drop we know who and why. When sanctions on Russia we know why some Gold are sold. But yesterday no clue for me.
The only winner is the one who survive the longest...
Quoting kinspk
{quote} Yea possible. On the other hand I yet to find any articles on who sold that much of Gold. How the hell "they" require to sell that much as it's not a small amount. In need of money? Or they know Gold going deeper soon? When Eurchf drop we know who and why. When sanctions on Russia we know why some Gold are sold. But yesterday no clue for me.
As I said earlier, China sold their Gold and that's why we saw that disturbing PA.

http://businesstoday.intoday.in/stor.../1/221946.html
Quoting faraz37
{quote} As I said earlier, China sold their Gold and that's why we saw that disturbing PA. http://businesstoday.intoday.in/stor.../1/221946.html
IMHO selling/buying physical gold has very little affect on the price of paper gold. Completely illogical but.........
Paper price dictates physical price not the other way around. Physical supply/demand has very little influence on price.

I've done quite a bit of reading about the precious metals & they're a pretty crazy market if you want to trade/invest based upon fundamentals. Such a manipulated market by some pretty big players.
I'd be willing to bet that there was no physical metal of any size that got sold during the "flash-crash".

Just my opinion which could be completely wrong.
Quoting srt
{quote} IMHO selling/buying physical gold has very little affect on the price of paper gold. Completely illogical but......... Paper price dictates physical price not the other way around. Physical supply/demand has very little influence on price. I've done quite a bit of reading about the precious metals & they're a pretty crazy market if you want to trade/invest based upon fundamentals. Such a manipulated market by some pretty big players. I'd be willing to bet that there was no physical metal of any size that got sold during the "flash-crash"....
> IMHO selling/buying physical gold has very little affect on the price of paper gold.

----> I have always Agreed 100% to this point..
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