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

tp hit....weeeeyha

hello,

just subscribed to this thread.

I am currently researching spot gold trading. As need to add something new to my fin. instruments I use.

My only other instrument is EUR/USD pair, witch is quite untradable latly (for me)



Are there any special methods you man use ? I chacked Oanda corelation table, and it tells Gold is very corelating with AUD/USD

China news, Interest Rates, USD (DXY) also move gold.

I use H4 and Day charts with EMA and MA, Stos, BB S/R areas to trade Au.

Still above 1350 for the moment...

We're now 5 bucks away from 1360, bulls stepped in

Silver back now at 27.3... going back to the uptrend ?

Happy weekend to all .

Looking gold with my previous expectation of 1460-1500 for this up still seems intact with overhead weekly 2 red candles waiting for confirmation 3rd.

eple start seeing the one 5th wave or 3rd ended already but still I doubt so easily it may confirm down 1300 for this towards 1007 tanking gold and may not ever it may come down this much.

so 5th wave can be much extended while still lesser than 1.

whatsover , for either conditions can expect gold raise , even do fall one leg , not seen in lower tf but seems possible little higher one, to 1376- 1387 next go up 1409 or 1355-40.
lets see how it acts .
fontu

Thx for your thoughts fontu !

Well 2011 coming up fast... some say the currency crisis could start in 2011. Things can move quick

friday - last was not a normal day for commods I'll explain later

Something to take note;

Possible H&S setting up for December?

fwiw

CORRECT.

This is a possibility. Anything can happen though, iv'e learned that many times!

I think the other margin hikes were more in the agricultural sectors, yet when one commodity begins selling off, some often follow, spreading through the market sort of like a virus!

"By Claudia Assis, MarketWatch
SAN FRANCISCO (MarketWatch) — Tighter margin requirements for silver futures triggered a sharp selloff in the metal Wednesday.

Silver led losses in a day all metals felt the pinch of a rising dollar. Gold settled under $1,400 an ounce, snapping a four-day record-high streak. Palladium and platinum were also sharply lower, as it was copper.

Silver for December delivery (SIZ10 2,732, +34.50, +1.28%) declined $2.04, or 7.1%, to $26.87 an ounce on the Comex division of the New York Mercantile Exchange.

The silver contract hit a record volume on Wednesday as 201,216 contracts changed hands, beating the previous record of 127,890 contracts set Dec. 30, 1976, the CME Group said.

CME, which runs Comex, late Tuesday raised margin requirements for silver futures.

Silver has skyrocketed since late August on fears of inflation and currency debasement, and the contract has posted numerous 30-year highs ever since.

Margins are the money investors put up to be able to trade a futures contract. Minimum maintenance margin requirements for silver went to $6,500 from $5,000 per contract, effective Wednesday.

>>>>KEY POINT>>> The decision caught investors as they were starting to roll over their investments to the silver contract for March delivery. Some decided it was time to take profits rather than put up more money.

“The margin increase will run its course,” said Jim Steel, an analyst at HSBC in New York. But in a sharp rally like silver has been enjoying, the new requirements “can lead investors to a rebalance and some liquidation.”

No other metals contracts were affected by the move, although markets were abuzz with expectations gold margins would also be raised.

Gold for December delivery (GCZ10 1,354, -0.70, -0.05%) retreated $10.80, or 0.8%, to $1,399.30 an ounce. The metal settled at $1,410.10 an ounce the previous session, its fourth record high in a row.

“(Silver and gold) appear to have run out of (bullish) fuel on the news front,” said Jon Nadler, an analyst with Kitco Metals, in a note.

The December silver contract reached an intraday high of $28.18 an ounce earlier. Silver rose more than 5% on Tuesday.

“This high volatility suggests strong involvement by speculative-oriented financial investors, but is by no manner of means a phenomenon that only applies to the silver market,” analysts at Commerzbank said in a note to clients.

“The fact that silver is in high demand and is outstripping gold in terms of investor interest is also shown by renewed high inflows into silver ETFs,” the analysts said.

Silver’s trading volume on Comex hit a record level Tuesday.

The iShares Silver Trust (SLV 26.74, +0.39, +1.48%) , an exchange-traded fund, reported an increase in its holdings Tuesday of 113 metric tons to 10,366 metric tons.

The ETF more than tripled its previous one-day volume record on Tuesday as 149.1 million shares traded in choppy action, according to FactSet Research. The prior high was 45 million shares set on Nov. 3.

The iShares Silver Trust ended Tuesday’s session with a loss of 3.6%, but it was gaining 1.5% on Wednesday.

Meanwhile, copper for December (HGZ10 383.30, +0.25, +0.07%) delivery fell 7 cents, or 1.8%, to $3.97 a pound.

December palladium (PAZ10 703.75, +8.20, +1.18%) fell 6.2% from 9-year highs, trading $45.90 lower at $696.75 an ounce. Platinum for January delivery (PLF11 1,669, +7.20, +0.43%) was off $71.70, or 4%, to $1,737.90 an ounce.

The dollar index (DXY 78.47, -0.11, -0.14%) , which tracks the performance of the U.S. unit against a basket of six currencies, rose 0.2% to 77.62.

Traders earlier contended with a drop in last week’s U.S. jobless claims, better than analysts had expected. The number of workers filing for new unemployment benefits fell 24,000 to 435,000 in the week to Nov. 6, while economists had expected a decline to just 450,000. Read more about jobless claims

Also Wednesday, prices of goods imported into the United States rose 0.9% in October as fuel costs surged, the Labor Department reported. Prices for imports excluding fuels increased a smaller 0.3%. Economists polled by MarketWatch had expected import prices to rise 1.3%.

Not to mention I am sick and tired of one day
"China is RAPIDLY EXPANDING THEIR GROWTH"

Next Day: Markets Tumble - WHy?
"China has decided to ease the rapid economic growth they are experiencing"

Non floating currency = Not a free market. = MANIPULATION.

It's like the stock PUMP and DUMP.

China: we want no more commodities, we don't want any more GOLD,
price drops AUD, Drops, COMMODS drop.

THen they BUY>

I DON'T TRUST IT.
X

HI WELCOME. Make yourself at home here.

I find it is hard to trade gold on pure technicals especially in the longer term.

Trendlines are often broken due to range and market switch ie: end NYC session 5pm - 5pm New Zealand opens....

Study the fundamentals and then look at the techs for entry and exit, take profit, risk reward, etc.


feel free to ask
X

MAJORS and AUD and XAU / XAG

FIBRE = 40 PIP GAP UP
CABLE= Slight APPX 10 pip gap down. SIDEWAYS
SWISSY= Unchanged = Maybe six pips up
YEN= Looks unchanged. Dont really care I rarely trade it unless trading dragon
AUD= 15 pips Gap up and climbing

XAU - Not open Yet
XAG - Not open yet

OOOOOH how I would Love a nice GAP UP on GOLD!!!!

Euro Rallied 70 pips on open.

Cable looing to break out. My target is 1.6085

I am looking for swissy to dump any minute.

YES!!!!!!!!!!

$ USD EXPLOSION ON SPOT GOLD OPEN!!!!!!!!!!And CLIMBING!

Took profit. Held over the weekend two minis. about 500 pips a piece.

Time to watch, read and chart!.

GOOD LUCK FOR THE NEW TRADING WEEk ALL!

Bullish pennant forming on M5 GOLD spot