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

We'll likely test the broken line and close any gap then I will look for further upward movement.

Still holding my longs. TP one area for the largest lowest entry might be around 1443..

Next I'm looking to take out 1450, then we'll see.

Thre comes a point when a Flag becomes a trend.
Stay on Task. You Win.

B

coming up on some resistance here in the 1430 area. If things keep up,
we'll pull back a bit and should take 1450 this week as longs as there are no
major market selloffs.

Gold rebounded nicely from the last so far I must say.

Morning gold and silver freaks Major resistance in the 1430 zone, looking for my first trade of the week. I am expecting some retrace from here but am too much of a pussy to short. So I will wait for a long later.

Some weeks ago I took one day free from the job, but of course I had to stay online . Since I had to move to another hotel, there was no CNBC or Bloomberg, so I had to watch the only German TV channel which is more or less dedicated to business news. There were two ads related to gold: the first one trying to buy gold from people (actually they want to steal it...); the second one is a gold fund which offers the possibility to invest in gold by small installments (through cost-averaging) starting at EUR 50/month.

Today I saw that one of the biggest Brazilian banks started to offer, probably for the first time, an investment fund exclusively related to gold. The description shows that the fund will not only buy gold and wait for a better value, but will TRADE gold and try a better return than the physical product itself.

I still don't understand the global picture. Are the banks trying to gather money in order to buy physical gold while selling only "paper gold" to the retail investors? That's it? Or is there something fundamentally new behind those brand new gold funds poping up around the world?

If those funds keep multiplying and growing, we will may see new highs in XAU very soon. The problem is that the speculation factor will also be higher - the rallys and sell-offs may become more dramatic.

you live in a hotel?

There have been gold adverts on the TV for the last couple of years. Everyone is jumping on the gold train, so it could become higher, but equally if people have to liqiudate their holdings there can become a glut in a sell off.

Iran is buying gold...

The world is moving away form the USD as the worlds reserve currency.

Uneventful London session. Nice that I slept through it.

Gold hovering nicely above 1423 resistance area. Back at 1430

Light crude opened 2.50 higher last night. Not a bad gap trade.
too bad I can't trade oil live...... One of these days.

Brent crude back at 115 a barrel...

Looks that way to me.

There have been multiple reports out of countries seeking to diversify their FX holdings, yes this does include buying gold and silver.

Let's see what news we have coming in on todays rack.

nothing new, then...

I hope the Bernak keeps on debasing the dollar. I am looking at a nice Merc gl 550 from the states. If we get to 1.50 I will save a ton on the EU price.

Maybe get myself a winter retreat in Florida too if we get to 160

Taken profitat 1428 on my long from 1408 as we seem to be forming a 4hr hanging man. Can't grumble at $20.

Will look to enter again from 1423 area if i see good PA, i think we may see 1416 again though and at that point i'd be looking for more buy setups.

Missed Target 2 at just over 1435, by a pip! now reversing. Still think the trend will continue up but I may have to wait some time for it to come back up. First target hit at 1427.5.

A couple of weeks ago my stop was missed by a pip, now it works the other way, just the way it is.

hi all

been a bit busy today
just for your perusal here is a possible area of resistance for 240 min GC


http://www.screencast.com/t/KRWXssgdI

hardly proven yet....i feel the trend is certainly more bullish than last week but we need to maintain altitude

beeb

my imagination or h&s ?
edit: pending long at 1420

playing in this 10 dollar range, a bit boring really at the moment.

Fork on m15 still intact. By the US opening the lower trendline will be tested, unless it goes up before that.

the fork gang

Well, that's a secondary tool. My main tool continues to be the scythe