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

Quoting forexfacts

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If we keep Technicalities aside, if it remains like this i see it in the 1600s after some days and the 1600s look solid support area for gold, let see

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As well as if Iran/Israel tensions increase driving up crude and the dollar, knocking the euro and gold etc down.

Quoting Saettele

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Gold is off to a thunderous start in 2012, advancing nearly 11% in January. January’s rally is the largest monthly advance since August. August turned out to be exhaustive, with gold plunging in September. The difference, of course, is that January’s rally follows a decline of over $300, which raises the possibility that the recent rally is the beginning of the next leg up in the decade-plus long bull market. By the same token, the 4-month decline from the high is the second largest in percentage terms since the decline into the October 2008 low. The decline into October 2008 was exhaustive on the downside but gold didn’t make much upside progress over the next year. These recent extreme rate-of-change figures are consistent with a peak in volatility for at least several months. In other words, expect gold to drift sideways between the 1900 area and the recent congestion centered around 1650. A range trading strategy is best employed with strict adherence to the mentioned levels. A drop below the December low would trigger a regime shift and more than likely a panic decline towards the 2011 low and 1300.

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Quoting jsr

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I've found this analysis interesting:



At least they are calling for a bottom @ 1650 and a ranging market for this months with a resistance @ 1900s.

bw, he thinks that is if price closes below 1714 there will be a H&S in daily charts, so he calls for a target @ 1650.

Let's see.

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Quoting jsr

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http://www.dailyfx.com/forex/fundame...QE3_Clues.html


I don't see it. I don't have that eye.

This analysis belongs to Ilya Spivak's.

What I do see is the bearish engulfing.

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Quoting jsr

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http://www.dailyfx.com/forex/fundame...QE3_Clues.html


I don't see it. I don't have that eye.

This analysis belongs to Ilya Spivak.

What I do see is the bearish engulfing.

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Quoting Walt

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H&S or not on D1 but what do you think about this scenario ?

W

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Quoting fibbonix

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I have daily resistance at 1730 and 1737, from one of then i expect it to go down

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Quoting jsr

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Finally my short is open.

However i'm afraid that price could see 1740-1742 before going down, after breaking that triangle in green lines.

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Quoting Walt

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Hmmm... I have DR1 @ 1727.10 and DR2 @ 1735.10

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Quoting forexfacts

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But why gold? Physical gold has good premiums on it in Iran at the moment, if tensions rise there will be more demand.

Iran has started to trade in gold with India and other countries, Pakistan has started to trade in Chinese currency with China, there is so much going on, in my opinion gold won't be knocked down.

But this is just a bird's eye view, you have better research and much more experience so you must have better knowledge of fundamentals.

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Quoting SunTrader

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If Iran and Israel go to war funds will flow to the dollar. The price of oil will skyrocket and cripple most of the world economy which means, for the short term at least, risk off and low or negative inflation, i.e. deflation. Not good. Then most likely Gold down.

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