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

  • #56,561
  • Apr 15, 2024 7:41am Apr 15, 2024 7:41am
Quoting Mcbeaners
{quote} looks like 28.10 is the best there was. missed it of course. copper and silver are in sync. should top 28.80
With the US dollar rising. Imagine that
  • #56,562
  • Apr 15, 2024 7:49am Apr 15, 2024 7:49am
Quoting enarco
{quote} With the US dollar rising. Imagine that
been doing that for serveral weeks now. doesn't change my long term view. if you look at other currencies they are making much higher highs in gold than the dollar. dollar and gold both are save haven assets (well all metals frankly). so the flight is from non-dollar holders to gold and/or dollar. this is the source of the rise imo.

though i reckon dollar is done rising for the day.

we'll see.
In tea leaves we trust!
  • #56,563
  • Apr 15, 2024 9:24am Apr 15, 2024 9:24am
Quoting Mcbeaners
{quote} looks like 28.10 is the best there was. missed it of course. copper and silver are in sync. should top 28.80
silver appears to following gold here and í'm bearish on gold (today - as of now). i'm long copper looking for fresh highs today. fingers crossed.
In tea leaves we trust!
  • #56,564
  • Apr 15, 2024 10:36am Apr 15, 2024 10:36am
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Don’t focus on making $$$, focus on protecting what you have.
  • #56,565
  • Apr 15, 2024 10:42am Apr 15, 2024 10:42am
Quoting profits7
{image} {image}
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Don’t focus on making $$$, focus on protecting what you have.
  • #56,566
  • Apr 15, 2024 1:31pm Apr 15, 2024 1:31pm
Quoting Mcbeaners
{quote} silver appears to following gold here and í'm bearish on gold (today - as of now). i'm long copper looking for fresh highs today. fingers crossed.
Pretty bullish considering the sell off on Friday. Bulls are on it.
  • #56,567
  • Apr 15, 2024 1:38pm Apr 15, 2024 1:38pm
Quoting enarco
{quote} Pretty bullish considering the sell off on Friday. Bulls are on it.
indeed. infact this is the same setup where i called a short on gold last week and slapped for it. I have no position.

it is same, they are trying to hold gold down and inflows are overwhelming it. as mentioned non-dollar assets outflow, inflowing into gold and dollar (and silver and copper).

could be interesting to see if there are some financial institutions who got royally bitch slapped. trying to short it.

copper is a nice neutral asset, do have a look. reckon it will do a monster. well i'm long so i would say that.
In tea leaves we trust!
  • #56,568
  • Apr 15, 2024 3:34pm Apr 15, 2024 3:34pm
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Don’t focus on making $$$, focus on protecting what you have.
  • #56,569
  • Apr 15, 2024 5:09pm Apr 15, 2024 5:09pm
Quoting Mcbeaners
{quote} indeed. infact this is the same setup where i called a short on gold last week and slapped for it. I have no position. it is same, they are trying to hold gold down and inflows are overwhelming it. as mentioned non-dollar assets outflow, inflowing into gold and dollar (and silver and copper). could be interesting to see if there are some financial institutions who got royally bitch slapped. trying to short it. copper is a nice neutral asset, do have a look. reckon it will do a monster. well i'm long so i would say that.
If copper continues to rise its inflationary by nature. Oil as well.

My take on silver is the institutional shorting had its period to unwind and its now game on. Last weeks data shook a lot of things. For me mainly the CDN dollar finally started to unwind from whatever bullshit that was holding it up. The Yen as well. The market is signaling a shift in sentiment towards gold and silver and as you say copper. The dollar is being sought out as well. Interest rates dropping in the currency baskets you mention and rising in the US making the US dollar a risk free hold on interest rates. Its my theory. If the paper bag BTC keeps on dropping its good for the hard assets as well....as a signal.
  • #56,570
  • Apr 15, 2024 5:22pm Apr 15, 2024 5:22pm
Quoting enarco
{quote} If copper continues to rise its inflationary by nature. Oil as well. My take on silver is the institutional shorting had its period to unwind and its now game on. Last weeks data shook a lot of things. For me mainly the CDN dollar finally started to unwind from whatever bullshit that was holding it up. The Yen as well. The market is signaling a shift in sentiment towards gold and silver and as you say copper. The dollar is being sought out as well. Interest rates dropping in the currency baskets you mention and rising in the US making the...
"silver is the institutional shorting"

now we are talking conspiracy theory! :o) who to say that is true. most silver miners are locked into contracts to sell short and as silver mostly comes from byproduct it is normally sold at market (my assumption). in the long past they used to silver short to control sentiment in the PM markets, that one is over imo.

CDN unwind - frankly they all are selling off against the dollar as mentioned. it's a flood.

interest rates - yes this could be interesting, my thinking is no rate drops this year - as i mentioned they are losing control imo. the currency markets are unwinding in front of our eyes. its a race to hard assets, any hard asset will do.

nice thing about silver is its undervalued so could in theory rise the highest.
In tea leaves we trust!
  • #56,571
  • Apr 15, 2024 5:45pm Apr 15, 2024 5:45pm
Quoting Mcbeaners
{quote} "silver is the institutional shorting" now we are talking conspiracy theory! :o) who to say that is true. most silver miners are locked into contracts to sell short and as silver mostly comes from byproduct it is normally sold at market (my assumption). in the long past they used to silver short to control sentiment in the PM markets, that one is over imo. CDN unwind - frankly they all are selling off against the dollar as mentioned. it's a flood. interest rates - yes this could be interesting, my thinking is no rate drops this year - as...
We appear to agree on one thing mostly, we disagree. You started this by calling the big short on AG. I explained and you retort. AG climbs.

Have a nice life. Seriously. These mediums are a proper trip.
  • #56,572
  • Edited 11:47pm Apr 15, 2024 11:34pm | Edited 11:47pm
Quoting enarco
{quote} We appear to agree on one thing mostly, we disagree. You started this by calling the big short on AG. I explained and you retort. AG climbs. Have a nice life. Seriously. These mediums are a proper trip.
interesting perception. i think we didn't disagree that much. but ok. np.

I never stated it was a "big short". I'm looking at order flow and that is how large short positions are built - when it is going up and long positions are built when going down. that's why price starts going up (or down) and it reverses and heads down (or up) much more powerfully.

laters.
In tea leaves we trust!
  • #56,573
  • Apr 16, 2024 7:05am Apr 16, 2024 7:05am
taken a long in silver here - 28.08 looking for 28.40 ish
In tea leaves we trust!
  • #56,574
  • Apr 16, 2024 7:21am Apr 16, 2024 7:21am
Quoting Mcbeaners
taken a long in silver here - 28.08 looking for 28.40 ish
probably will do better then 28.40 - 28.78 is possible but we'll know more at 28.40
In tea leaves we trust!
  • #56,575
  • Apr 16, 2024 8:11am Apr 16, 2024 8:11am
Quoting Mcbeaners
{quote} probably will do better then 28.40 - 28.78 is possible but we'll know more at 28.40
closed at 28.40 as mentioned. now watching for any build out.
In tea leaves we trust!
  • #56,576
  • Apr 16, 2024 8:19am Apr 16, 2024 8:19am
Quoting Mcbeaners
{quote} closed at 28.40 as mentioned. now watching for any build out.
long again at 28.24
In tea leaves we trust!
  • #56,577
  • Apr 16, 2024 8:25am Apr 16, 2024 8:25am
Quoting Mcbeaners
{quote} long again at 28.24
double down at 28.16 - i'm too early as usual.
In tea leaves we trust!
  • #56,578
  • Apr 16, 2024 8:27am Apr 16, 2024 8:27am
Quoting Mcbeaners
{quote} double down at 28.16 - i'm too early as usual.
btw the POC for this month is 28.07 no surprise it went there.
In tea leaves we trust!
  • #56,579
  • Apr 16, 2024 8:40am Apr 16, 2024 8:40am
Quoting Mcbeaners
{quote} btw the POC for this month is 28.07 no surprise it went there.
alright i'll eat my hat if this doesn't go over 28.40. so looking ahead 28.51 and 28.885 are the value low areas. there are others but that is major "gates"to be passed.

fingers crossed.
In tea leaves we trust!
  • #56,580
  • Apr 16, 2024 10:29am Apr 16, 2024 10:29am
Quoting Mcbeaners
{quote} alright i'll eat my hat if this doesn't go over 28.40. so looking ahead 28.51 and 28.885 are the value low areas. there are others but that is major "gates"to be passed. fingers crossed.
looks like i could have sold again at 28.40 but i'm holding. nothing has changed, still seeing above 28.40.

working off the 1hr chart so patience required.
In tea leaves we trust!
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