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

Actually some people would be even more picky and say that, when the gold/silver ratio was about 15:1 or so, the price was much much higher than in 1980...

By the way, silver is still going up. It's almost time to short (for scalpers).

Gold reached 62% Fibonacci at 1384. What now? Should we expect an explosion?

looking to see the GC 1387 area to be taken out without too much reaction.....
SI anticipating resistance around 31.80.....

beeb

GC 20min and SI 240 min

Silver futures pices are in a three-week-old uptrend on the daily chart and in a nearly 2.5-year-old uptrend on the longer-term monthly chart. The powerful silver market bulls' next upside price objective is producing a close above major resistance at $35.00 an ounce.

Importantly, now look for daily price moves in silver to become larger and daily volatility higher in the near term. The next downside price breakout objective for the silver bears is closing March futures prices below strong technical support at $30.00. It would take multiple daily closes below strong technical support at $28.00 an ounce in March silver futures to produce significant near-term technical damage to then suggest a near-term market top is in place.

http://www.kitco.com/reports/KitcoNe...JW_silver.html

http://kingworldnews.com/kingworldne...e_Big_One.html
turk mentions it was hard for investors to buy @ 26.38 area, ha, starting the new yearly time frame and going down into the quarterly support is the perfect time to buy.
as posted previously gold hit the quarterly trend guide 1320 which was the same day.

we need a weekly close above 31.39 and 1385 please.

Im hoping for first tp to be hit at 89 tomorow, but this may be optamistic. still we are making good steady progress.

if trend continues my eyes are watching how 1418 (feb highs) responds and silver 33.20 (quarterly highs).
However, first things first, id like to see a weekly close above feb.monthly highs 31.39 .

Fantastic day for longs......

Anticipating there might be a SI reaction from the P shown in the earlier chart - it stopped on the nose.....

GC was lagging today - need to take out 1389 (a bit higher than earlier suggestion because time is passing) Anticipating resistance and maybe a reaction around 1396

beeb

they lay the groundwork for things to come.

A pretty picture below

We've hit the resistance or almost @87-90, if we get past that 1400 is next, if gold manages to hold above 1400 (this days) before the QE, we might see 1500 after that.

I took a 1/3 manualy at 88, only 65 cents from first target. was going to take half but i think this has more to run. will look for anoter 1/3 at 97-99 then leave the rest for all eternity...

Hehehe...

The 62.8 retrace is getting hit pretty hard with supply. I've been watching it now for the last 24 hours. With the hot U.S. PPI and CPI, riots in multiple Middle Eastern countries and the Iranians sending battleships thru the Suez canal. I think we should have seen a bigger move to the upside (at least 1397-1400), but it did not happen.

It's clear the cartel wants to discourage buying at this level (I'll call it 1385-1387). The chinese want gold held here too I imagine. Any further dollar devaluation begins to really cut into their reserves (before they have a chance to spend some of that loot). The Fed wants it held here for a while too to preserve the integrity of treasuries. Any higher on the ten-year is really going to hurt Wall St. and the federal budget.

The question I'm struggling with is how much control does the cartel have left? Can they hold it here for a day, or two, or twelve or what? Market forces may just run right over the cartel, and surely will in the not too distant future, but for now, I am shorting from 1385 looking to cover around 1355 which was difficult resistance prior to the latest move.

Wow - lot of brave people here shorting markets in uptrends.......

FWIW I'm watching initial GC support around 1384 and then 1376 and would like to see 1392 taken out. Still anticipating resistance and poss reaction around 1396.

SI still near the 31.80 resistance - like to see that taken out and becoming support.

Reasons are still those posted yesterday....

beeb

I'm shorting silver from 31.85 Jokes apart, silver is overbought (very steep uptrend, few and small rebounces). I am trading for a 50-pip retracement. It will happen latest at 33.00. Afterwards it may go up for eternity.

i'm not joking harvest - i think you're very brave....

beeb

That's right but don't worry, 31.85 is not my only entry point. That's just the beginning.

Talking about uptrend, yesterday CNBC was shouting about the gold rush and connecting it to the Middle East crisis. I can't believe such simplistic reasoning!

Besides that, one "expert" came to explain what was going on, gave some technical explanations, and finally told that the best strategy now is to enter call options in order to "create some volatility".

Hey, that's exactly what I'm saying all the time, this uptrend is too smooth to be true and someone (the big money) is waiting for some noise (rallies) in order to scalp again. Very tricky guy.

i found new indicator, once it show signal sell then immediately i enter sell position from 31.86 now 31.65. hopefully silver will going to south..

The famous last few words

But i think you know what you are doing

I turned off TV financial news a decade ago and haven't regretted it at all lol....

I don't know what timescale you trade on - I certainly wouldn't be looking to short pm's on anything longer than a 10min or 20min chart in the current uptrend - in fact I'll use any pullbacks to load up long.....


but different views make a market so don't let me dissuade you

beeb