XAU/USD & XAG/USD - Gold & Silver Traders Thread

Nice call. Now what?

Gold prices ended higher on Wednesday, erasing all of the previous day’s losses, as the dollar edged lower. The precious metal’s gains, however, were limited by expectations the U.S. Federal Reserve will hike interest rates this month. The market initially tested the support around the $1259 level before heading back to the $1271.50-$1269 area.
The XAU/USD pair is challenging this barrier again today, but it appears that market players are hesitant to go heavily long ahead of highly anticipated U.S. jobs data. The bulls still have the medium-term technical advantage, with the market trading below the Ichimoku clouds on the weekly and the 4-hourly time frames, but where prices will go in the short-term depends on the outcome of the test of 1271.50-1269.

The candlestick with a tall upper shadow (4-hour chart) suggest that we shouldn’t rule out a pull back to 1265/3 if the market fails to climb above 1271.50. The bears will need to capture this camp in order to make an assault on the 1259 level, which happens to be the top of the 4-hourly cloud. A break down below there implies that 1256.50-1254 will be the next target. On the other hand, if XAU/USD convincingly penetrates 1271.50-1269, then we may see the bulls making a fresh attempt to 1277.35-1276. A daily close above 1277.35 makes me think that the market is getting ready to tackle 1283/2.

daily
Over@1274====>1282===>1288====>1298
Below@1247===>down

Aleksbuk please stop posting your garbage.

Silver is testing 17.10 which is the (MA)89 indicator on the four-hour time-frame, a breakout below that support could lead to a further move to the downside towards 16.80. I will short if it does break out below the support.

Over==>1266===>1270
Below===>1265===>1261===>1259

H4
Over===>1274.7====>1279===>1282.xx===>1285.xx
Below===>1261===>1259====>1256.xx

Hi everybody
Gold is gonna see above 1300 soon, I've been on long side from last weeks.
Maybe tomorrow high impact news from dollar help Silver and gold go up

Said at almost the exact point it started to drop.

1274important
1259.5

I agree with you there, buddy. 1274 is kind of crucial but Silver and Gold have no choice except finding a way to go up for completing D1 uptrend.

I'm buy gold

Trump standing by Paris climate accord make the react of market will be unpredictable on this Non-farm release

Gold prices fell $3.41 an ounce on Thursday as better-than-expected U.S. economic data, which supported the case for a Federal Reserve interest rate hike this month, led to a bounce in the dollar. The market was not able to break through the resistance in the $1271.50-$1269 area, and ultimately extended its losses after prices pierced below a support in the $1265-$1263 region. The XAU/USD pair is currently trading at $1260.34, lower than the opening price of $1265.60.
It appears that the market is going to test the support at the 1259 level where the top of the 4-hourly Ichimoku cloud and a short-term bullish trend coincide. The bears have to overcome this barrier so that they can make a move to 1256.50-1254. The area occupied by the cloud on the H4 chart should be supportive, so we need to get down below there to visit the 1251/0 zone. If this support is broken, the 1245 level will be the next target.
However, if the 4-hourly cloud hinders the bears’ progression, we may see a rebound to 1265/3. The bulls will need to push prices back above there to approach the critical 1271.50-1269 area. A break up above 1271.50 could give the bulls the extra fuel they need to reach the 1277.35-1276 zone.

Over==>1265==>1268==>1272
Below==>1259===>1256

goldie did me right mayn

this is likely moving on next week, but the hell cares it's weekend
time to the money