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

  • #3,421
  • Mar 11, 2011 3:05am Mar 11, 2011 3:05am
What do we think the tsunami that just hit Japan is going to do to PM prices?

I dont have enough experience to know wether these things have any significant impact.

Its on Russia Today now
  • #3,422
  • Mar 11, 2011 3:48am Mar 11, 2011 3:48am
Quoting beeb
Essential reading every day - particularly today.....

http://harveyorgan.blogspot.com

beeb

Is this "raid" the sell-off we saw yesterday? Does it mean that, in case the banks' total shorts are really big at the moment, we may see the uptrend resume in the next days?

It sounds interesting, but it's hard to understand. I have no idea about the "real" gold market, COMEX & Co. Just trade the numbers here. It's time to go a bit deeper...
"The reason I was born and came into the world is to testify to the truth."
  • #3,423
  • Mar 11, 2011 3:50am Mar 11, 2011 3:50am
the REAL gold market is not comex - it's the London spot market which is many times bigger.....suggest you do read up a bit on your market

beeb
  • #3,424
  • Mar 11, 2011 4:20am Mar 11, 2011 4:20am
Quoting Dolph
What do we think the tsunami that just hit Japan is going to do to PM prices?

I dont have enough experience to know wether these things have any significant impact.

Its on Russia Today now

Wow, even a Japanese nucler power plant is burning

Man, it's really difficult to say... basically all stocks are in red. The impact of a disaster in such a big economy is hard to foresee. The insurance companies will have lots of trouble. The yen may depreciate and create some imbalances in the Forex market (the yen is used for carry-trade). We may see huge sell-offs, including in precious metals. At the same time, people will flee to gold for security.

Any more thoughts, anyone?
"The reason I was born and came into the world is to testify to the truth."
  • #3,425
  • Mar 11, 2011 4:22am Mar 11, 2011 4:22am
there she goes, going to be brutal today.
  • #3,426
  • Mar 11, 2011 4:46am Mar 11, 2011 4:46am
Quoting harvest3r
At the same time, people will flee to gold for security.
this goes against basically everthing the mainstream believes about gold and silver.

I have taken a 11800 put on the dow, ambitious maybe, but i was going to do a similar thing on the morning of may 6th last year, but i didnt, we all know what happened next.....

Everthing is in place for a big sell off

besides it was very cheap, only 11 points.
  • #3,427
  • Mar 11, 2011 5:25am Mar 11, 2011 5:25am
interview with gold uber bull Jim Sinclair...

http://kingworldnews.com/kingworldne..._Sinclair.html
  • #3,428
  • Mar 11, 2011 5:54am Mar 11, 2011 5:54am
Quoting beeb
Mapleleaf - I don't take offense provided you were not being rude

The reason I sold came partly from the 20 and 240 min charts I had been posting which showed price failing to hold support in the fork. I confirmed it by looking at a proprietary system on the 10min....I followed price closely with stops and when I saw a warning line of the fork give support lower down I was prepared for some kind of bounce. Because the bounce breached the proprietary system to the upside I closed the shorts and opened a long.....

beeb

Well. again.. even if you got the signals you think you got.. the price could have been excatly in the opposite direction.

All indicators are lagging, and you know it... Otherwise you would be rich.

Or tell me.. what exactly is going to do the price right now? Can you predict it?

It's always easy to talk after it happened.. Its 50-50 probability, not hard to do.
The Black Swan: The Impact of the Highly Improbable
  • #3,429
  • Mar 11, 2011 5:59am Mar 11, 2011 5:59am
Quoting MapleLeaf
Well. again.. even if you got the signals you think you got.. the price could have been excatly in the opposite direction.

All indicators are lagging, and you know it... Otherwise you would be rich.

Or tell me.. what exactly is going to do the price right now? Can you predict it?

It's always easy to talk after it happened.. Its 50-50 probability, not hard to do.
Mapleleaf - you know nothing about me and are proving yourself to be ignorant and unpleasant,,,
If you don't want to add anything to the conversation why don't you go away....
I don't intend to get into a debate with you as I make it a rule to never argue with idiots. They bring you down to their level and then beat you with experience......

Welcome to my ignore list


beeb
  • #3,430
  • Mar 11, 2011 6:11am Mar 11, 2011 6:11am
haha, the yanks are going to be getting out of bed to see this, I think there will be more dumping of positions as the afternoon goes on.
  • #3,431
  • Mar 11, 2011 6:18am Mar 11, 2011 6:18am
Quoting beeb
interview with gold uber bull Jim Sinclair...

http://kingworldnews.com/kingworldne..._Sinclair.html
What are the "Angels", Jim Sinclair speaks of?

P.S. Beep, i think you should get a percentage of everyones winnings based on the things you post arround here
  • #3,432
  • Mar 11, 2011 6:41am Mar 11, 2011 6:41am
Quoting musclemike
What are the "Angels", Jim Sinclair speaks of?

P.S. Beep, i think you should get a percentage of everyones winnings based on the things you post arround here
Mike - afaik it refers to a cartoon that was on his website a while back.....

http://jsmineset.com


beeb

PS all contributions happily accepted
  • #3,433
  • Mar 11, 2011 6:44am Mar 11, 2011 6:44am
Quoting MapleLeaf
Well. again.. even if you got the signals you think you got.. the price could have been excatly in the opposite direction.

All indicators are lagging, and you know it... Otherwise you would be rich.

Or tell me.. what exactly is going to do the price right now? Can you predict it?

It's always easy to talk after it happened.. Its 50-50 probability, not hard to do.
The real problem with indicators is not that they lag.
The point is that in today's very efficent markets future prices don't give a shit about the past.
The very next moment you think that corn price is gonna get higher not because of a shortage but just because your RSI is below 30 you're gonna get fucked by the market.
Indicators should be used only to exploit people that follow them.

Anyway i think it's gonna be a long way down for metals.
  • #3,434
  • Edited 7:06am Mar 11, 2011 6:45am | Edited 7:06am
Quoting Euroscum
there she goes, going to be brutal today.
Oh, you are talking about silver! Now I got it...

Funny. Gold is still above yesterday's low while silver is having a new low. Definitely they became out of sync. Well, it makes sense. Silver seems to have attracted more speculation.

@forexcompoun: dear colleague, if silver reaches $21, I would give you a coin as a gift. And that's not a joke. I would be EXTREMELY HAPPY to see silver at $21 again and be able to buy some tubes. I'm not saying that's impossible, but it will probably take too long to happen.

If you are thinking long term, that's fine. It would be nice to hear your reasons to be bearish, though. You know, it's always good to get some input. Are you thinking about an end of the speculation on silver? Double Dip? End of QE2? Or is your opinion technically driven?
"The reason I was born and came into the world is to testify to the truth."
  • #3,435
  • Mar 11, 2011 6:57am Mar 11, 2011 6:57am
Looks like gold does not dare to touch 1400, imho for good reason, while the whole libya situation has stalled at the moment it did certainly not get better.
  • #3,436
  • Mar 11, 2011 7:11am Mar 11, 2011 7:11am
Quoting harvest3r
Oh, you are talking about silver! Now I got it...

Funny. Gold is still above yesterday's low while silver is having a new low. Definitely they became out of sync. Well, it makes sense. Silver seems to have attracted more speculation.

@forexcompoun: dear colleague, if silver reaches $21, I would give you a coin as a gift. And that's not a joke. I would be EXTREMELY HAPPY to see silver at $21 again and be able to buy some tubes. I'm not saying that's impossible, but it will probably take too long to happen.

If you are thinking long term,...
Look at the S&P. BTW I shorted this one this morning. There is a correlation not only in silver and gold but also in copper, wheat whatever. If you buy into the BS that silver is a store of wealth etc then fine. Silver is too small in crisis situations to take your worldly positions in, the real store of wealth is gold.

All commodoties have been going up because of the stock market speculation. Pure and simple, you can listen to the conspiracy theories which make interesting reading but this happens every so often and the results are always the same. A drastic plunge and people who believed the hype get mullered.
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  • #3,437
  • Mar 11, 2011 7:16am Mar 11, 2011 7:16am
euroscum - refer you to the kingworldnews interview i posted above.....


beeb
  • #3,438
  • Mar 11, 2011 7:20am Mar 11, 2011 7:20am
Quoting beeb
euroscum - refer you to the kingworldnews interview i posted above.....


beeb

beeb, I listened to some of his rant but I could not finish it. He sounded like a snake oil salesman.
  • #3,439
  • Mar 11, 2011 7:28am Mar 11, 2011 7:28am
ok
  • #3,440
  • Mar 11, 2011 7:35am Mar 11, 2011 7:35am
Quoting Euroscum
All commodoties have been going up because of the stock market speculation. Pure and simple, you can listen to the conspiracy theories which make interesting reading but this happens every so often and the results are always the same. A drastic plunge and people who believed the hype get mullered.
Ummm..

1) Silver and Gold (inflation adjusted) are still below their all time highs.
2) CNBC and other major news networks say Gold and commodities are in a bubble.
3) Go to a restaurant and ask the waitress or waiter if they know the price of silver or gold and if they own any. Since the public doesn't even know about silver or gold I'd hardly say it's a bubble.
4) The book stores don't have displays up in the front of the store on how to get rich buying gold and silver.
5) Time magazine hasn't said Now is the time to buy gold on the cover of their magazine.
6) There aren't any TV shows on the do-it-yourself network on how to meltdown gold and silver to make cool shit and sell it.

Haha!

OH, one last point. Commodities are going up because of inflation.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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