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

  • #11,721
  • Oct 6, 2011 4:12am Oct 6, 2011 4:12am
we could may well be seeing a bullish turnaround folks...
  • #11,722
  • Oct 6, 2011 4:25am Oct 6, 2011 4:25am
Hi guys,

I'm newbie here and in forex as well
learning new things day by day
i have open short position of AU at 1651. with sl at 1655
any suggestions

if its not allowed to seek help here then please reply politely
i won't ask again
  • #11,723
  • Oct 6, 2011 4:34am Oct 6, 2011 4:34am
Quoting whatfx
we could may well be seeing a bullish turnaround folks...
Gold, Silver, Platinum, Palladium, all 4 on the rise, this may be a short time bull ?
  • #11,724
  • Oct 6, 2011 5:11am Oct 6, 2011 5:11am
Quoting jaimini
Hi guys,

I'm newbie here and in forex as well
learning new things day by day
i have open short position of AU at 1651. with sl at 1655
any suggestions

if its not allowed to seek help here then please reply politely
i won't ask again
you should ask yourself why SL at 1655?
Where is your TP level?
  • #11,725
  • Oct 6, 2011 5:19am Oct 6, 2011 5:19am
Quote
there is an obvious Traffic Jam in the 1,650 -1,659 area
So what should we do?
If you, on your way to work, get caught in a T Jam, what do you do?
Turn around and go home Or suffer the slings & arrows to get to work?

  • #11,726
  • Oct 6, 2011 5:36am Oct 6, 2011 5:36am
1650 is hard to break.It may be quick fall or quick upside
  • #11,727
  • Oct 6, 2011 5:48am Oct 6, 2011 5:48am
http://goldnews.bullionvault.com/gold_coins_100520116

Demand for gold is decreasing in the West, and in East it is on the rise, it is a tug of war, whose gonna win?
Attached Image (click to enlarge)
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  • #11,728
  • Oct 6, 2011 6:22am Oct 6, 2011 6:22am
Quoting forexfacts
....... Demand for gold is .........
The supply and demand figures that really matter are buying and selling of traded/not produced Gold. It is the traded price that determines the produced price.

For an uptrend rising volume on up days and declining volume on down days is needed - vice versa for a downtrend.

Well after hitting double top in Mid Aug/Early Sept we have had increasing volume on down days and declining volume on up days ....... so until that flips around supply and demand is saying further downside.
  • #11,729
  • Oct 6, 2011 7:14am Oct 6, 2011 7:14am
Quoting ventin75
you should ask yourself why SL at 1655?
Where is your TP level?
sl at 1655 because its 20$ loss only which is somehow manageable for me

and my bad luck it just hit 1655 and dropped to 1640 straight 70$ loss (
  • #11,730
  • Edited 7:27am Oct 6, 2011 7:14am | Edited 7:27am
Quoting SunTrader
The supply and demand figures that really matter are buying and selling of traded/not produced Gold. It is the traded price that determines the produced price.

For an uptrend rising volume on up days and declining volume on down days is needed - vice versa for a downtrend.

Well after hitting double top in Mid Aug/Early Sept we have had increasing volume on down days and declining volume on up days ....... so until that flips around supply and demand is saying further downside.
Thanks for the explanation

But the figures i have posted above are of the gold consumed, not produced, and i think demand for gold in the shape of Jewelry or in bars is very much responsible for its trading price.

If we look at the figures, India consumed 400 tonnes in 2009 and in 2010 it consumed about 750 tonnes, is it not enough to push the prices up? Supply side constant and the Demand side up.
  • #11,731
  • Oct 6, 2011 7:32am Oct 6, 2011 7:32am
iam short from 1643...
  • #11,732
  • Oct 6, 2011 7:37am Oct 6, 2011 7:37am
Quoting whatfx
iam short from 1643...
i went @ 1645 booked profit already
  • #11,733
  • Oct 6, 2011 7:38am Oct 6, 2011 7:38am
164x seems to be very strong for a short. I'm keeping with the long now
  • #11,734
  • Oct 6, 2011 7:55am Oct 6, 2011 7:55am
Quoting dremstar
164x seems to be very strong for a short. I'm keeping with the long now
i am thinking to join you aswell
  • #11,735
  • Oct 6, 2011 8:07am Oct 6, 2011 8:07am
Quoting forexfacts
........ If we look at the figures, India consumed 400 tonnes in 2009 and in 2010 it consumed about 750 tonnes, is it not enough to push the prices up?.....
If you are long from 2009 or 2010 then you are feeling very happy. I don't trade THAT long term.

If you plan on entering now and holding a year or two from now and are confident a year or two from now demand will have continued then buy.

I'm not that confident what will happen next week though. I can only judge by what is happening and what has happened recently, not what will happen way out in the future.
  • #11,736
  • Oct 6, 2011 8:25am Oct 6, 2011 8:25am
Silence before the storm, I hope that bulls will still be
Attached Image (click to enlarge)
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  • #11,737
  • Oct 6, 2011 8:36am Oct 6, 2011 8:36am
Finally starting to get better, had a nasty virus of some sort with 140 deg or 40 deg celcius temp.

Hope you all are doing well.

Still in a pretty tight range. If 1600 Goes look south for a quick 20 to 50

1667 goes Id look for 1700++

X
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #11,738
  • Oct 6, 2011 8:59am Oct 6, 2011 8:59am
Quoting nishantforex
Look at the Daily chart with 150 SMA new chart.
very interesting
Life's a bitch....so be a dog and cover it!
  • #11,739
  • Oct 6, 2011 9:01am Oct 6, 2011 9:01am
Quoting XTrade
Finally starting to get better, had a nasty virus of some sort with 140 deg or 40 deg celcius temp.

Hope you all are doing well.

Still in a pretty tight range. If 1600 Goes look south for a quick 20 to 50

1667 goes Id look for 1700++

X
Hey X,

Good to hear you are doing better, but I think you meant 104 F not 140 F?

And agree completely with your numbers and expectation whichever gives.
  • #11,740
  • Oct 6, 2011 9:08am Oct 6, 2011 9:08am
Quoting SunTrader
If you are long from 2009 or 2010 then you are feeling very happy. I don't trade THAT long term.

If you plan on entering now and holding a year or two from now and are confident a year or two from now demand will have continued then buy.

I'm not that confident what will happen next week though. I can only judge by what is happening and what has happened recently, not what will happen way out in the future.
well, studying is not bad, please read this post of mine which i posted a few hours back:

Quote
Should i jump in when and if it gets back to the 1600 level, i'll be keeping it for a few months, so if, in the middle, it goes down a little(but not much) it won't hurt because i feel gold is going to hit 2,000 sooner or later, and at that time i'll be selling it, what do you suggest?
yes the decision will be mine but input from old timers is valuable to me.
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