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

  • #4,941
  • Apr 20, 2011 8:01am Apr 20, 2011 8:01am
Sorry for the bears...
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #4,942
  • Apr 20, 2011 8:04am Apr 20, 2011 8:04am
Quoting Euroscum
Ha, what dips in silver Straight line
Absolutely right! Any $1 drop is a dip. Yesterday night I saw that touch in $43 and thought: "well. that was a good entry point, after all". Now we are reaching $45. It's ridiculous!


Quoting Euroscum
A bit off topic but one thing I did notice in the USD's favour on Monday's risk off trade was how it rallied. To me that says it has not lost its safe haven status as yet when the shit hits the fan people still flee to the usd,chf and jpy.
I have another "theory" for that. USD is the world's base currency. Everytime people want to have their money back (on profit-taking, sell-offs, whatever!), they will have in return... mostly USD! So it's not about being a strong currency, or a safe haven. It's just about liquidity, possession of cash.
"The reason I was born and came into the world is to testify to the truth."
  • #4,943
  • Apr 20, 2011 8:08am Apr 20, 2011 8:08am
Geez let silver get past $50 before worrying about triple digits.

Talk about a top. The only thing left is a BusinessWeek cover issue.
  • #4,944
  • Apr 20, 2011 8:10am Apr 20, 2011 8:10am
what ??? we have to wait on our push above 1506 ?
what do ya say 1501 ?
  • #4,945
  • Apr 20, 2011 8:45am Apr 20, 2011 8:45am
Quoting SunTrader
Geez let silver get past $50 before worrying about triple digits.

Talk about a top. The only thing left is a BusinessWeek cover issue.
I would bet my left testicle on the top being between here and 50 but I know better than that, so I am going to bet an imaginary one that it blows anytime in the next $5.

Getting a daily rsi of 86, if it gets to 90 run for the hills.
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  • #4,946
  • Apr 20, 2011 9:13am Apr 20, 2011 9:13am
Quoting harvest3r
I have another "theory" for that. USD is the world's base currency. Everytime people want to have their money back (on profit-taking, sell-offs, whatever!), they will have in return... mostly USD! So it's not about being a strong currency, or a safe haven. It's just about liquidity, possession of cash.
This is very true!
  • #4,947
  • Apr 20, 2011 9:46am Apr 20, 2011 9:46am
Quoting Euroscum
I would bet my left testicle on the top being between here and 50 but I know better than that, so I am going to bet an imaginary one that it blows anytime in the next $5.

Getting a daily rsi of 86, if it gets to 90 run for the hills.
Well, if we forget the FX market for a moment and think about the demand for gold, it is surprising and a bit hard to believe that the people who could not afford the GOLD previously at LOWER prices, are now running to the shop and buy it at HIGHER prices.

I AM BULLISH gold long-term and still holding my longs from 1300's and scalp everyday as well but at the same time, I am waiting for a surprise one of these on-too-distant days.

Well, I guess we should just wait and see. If we all knew when the shit would happen, we would not be sitting here. We can argue charts, channels, trends, US debt, inflation and etc. but this going up, up, up does not sound very clean.

Happy trading to all...
  • #4,948
  • Apr 20, 2011 11:53am Apr 20, 2011 11:53am
Quoting Euroscum
I would bet my left testicle.....
Didn't you lose that in a previous bet?

In Spain now and it is bloody freezing...
  • #4,949
  • Apr 20, 2011 12:10pm Apr 20, 2011 12:10pm
Quoting six gun
Didn't you lose that in a previous bet?

In Spain now and it is bloody freezing...

At least the airlines are not striking. Enjoy the tapas.
  • #4,950
  • Apr 20, 2011 12:11pm Apr 20, 2011 12:11pm
Having been at 35 000 feet for a while. Was there any reason why silver dumped $1 in 20 minutes?
  • #4,951
  • Apr 20, 2011 12:43pm Apr 20, 2011 12:43pm
Quoting six gun
Having been at 35 000 feet for a while. Was there any reason why silver dumped $1 in 20 minutes?
Might sounds a bit like a tv talking heads saying this but probably was just "profit taking related".
  • #4,952
  • Apr 20, 2011 1:33pm Apr 20, 2011 1:33pm
Quoting SunTrader
Might sounds a bit like a tv talking heads saying this but probably was just "profit taking related".

yeah, agree.
  • #4,953
  • Apr 20, 2011 2:03pm Apr 20, 2011 2:03pm
No sign of stops or big take profits at 1500... well..

It looks like next target will be 1550 in the first 2 weeks of May. But we need to confirm this in the next 48 hours.
The Black Swan: The Impact of the Highly Improbable
  • #4,954
  • Apr 20, 2011 4:26pm Apr 20, 2011 4:26pm
What's Up With the Silver ETF?

http://www.cnbc.com/id/42686875
  • #4,955
  • Apr 20, 2011 5:48pm Apr 20, 2011 5:48pm
It was already triple confirmed. Twice on the chart with a break of sym_tri (after record high and correction no less)
North into a bullish flag that completed which is a continuation sign.

Also rising inflation, natural disasters, investor small and large demand all = higher gold, not to mention the S&P report on the US. revised or not.

Never know, 1500 to 1600 may be easier than 13 to 14. Just a thought....

Quoting MapleLeaf
No sign of stops or big take profits at 1500... well..

It looks like next target will be 1550 in the first 2 weeks of May. But we need to confirm this in the next 48 hours.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,956
  • Apr 20, 2011 5:48pm Apr 20, 2011 5:48pm
many pairs are on a rally right now, amazing upside run.
The Black Swan: The Impact of the Highly Improbable
  • #4,957
  • Apr 20, 2011 5:51pm Apr 20, 2011 5:51pm
Gold is also trying to break out of the current channel. It is at the top now, if it breaks it tests it and continues up or sideways up, this is further confirmation.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,958
  • Apr 20, 2011 7:04pm Apr 20, 2011 7:04pm
Quoting MapleLeaf
many pairs are on a rally right now, amazing upside run.
The most relentless attack by silver during asian session... it's approaching 46 now!!
  • #4,959
  • Apr 20, 2011 7:22pm Apr 20, 2011 7:22pm
Yes XTrade, I totally agree, this current run confirms that there was nothing heavy in the 1500 level, as some experts were reporting heavy stops and take profits there, but it looks like they moved them higher. The confirmation came faster than I expected, even better!

And of course 1550 seems like an easy target by now. I will not be surprised if we hit 1600 by may.
The Black Swan: The Impact of the Highly Improbable
  • #4,960
  • Apr 20, 2011 9:02pm Apr 20, 2011 9:02pm
Quoting MapleLeaf
... I will not be surprised if we hit 1600 by may.
I would. I'm betting, with real cargo, that we Will get to 1,600 but my expectation is that it will be Just Before The Hamptons Season. (end of Nov:Begining of Dec.)

B
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