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

  • #18,341
  • Apr 9, 2012 9:40am Apr 9, 2012 9:40am
Quoting forexfacts
Gold is up, about 1%, Silver is not, this news had some weight
I know you won't believe but it means nothing.

More is traded in a day than is bought in all of India in a year.
  • #18,342
  • Apr 9, 2012 9:47am Apr 9, 2012 9:47am
Quoting SunTrader
I know you won't believe but it means nothing.

More is traded in a day than is bought in all of India in a year.
All the more reason to cheer on the CFTC in pushing for more transparency.

Dodd-Frank not going well so far, but a commendable effort.

Hilarious listening to the banks whine and moan about how hard and expensive the regulations will be. Boo-bleeping-hoo. I think I might cry myself to sleep listening to them complain about the hardships of operating in the light of day.

If these a-holes took responsibility and operated a transparent public exchange, there would be no need for public reporting regulations. I would much prefer they operate on their own terms, but in a way that is public and accountable. What they get away with has absolutely nothing to do with capitalism or free markets.

So far the CFTC has only gone after RBC, a Canadian bank, in a big way for distorting prices with their derivatives operations. Something tells me this is a calculated move.
  • #18,343
  • Apr 9, 2012 10:09am Apr 9, 2012 10:09am
Good article for the bulls:

http://seekingalpha.com/article/4839...old-and-silver
  • #18,344
  • Apr 9, 2012 10:33am Apr 9, 2012 10:33am
Quoting SunTrader
I know you won't believe but it means nothing.

More is traded in a day than is bought in all of India in a year.

Yes Sir, but all that is traded is on fundamentals and technicalities, and is paper, so.....


What if there is a news: India and China impose a ban on gold, silver import.
  • #18,345
  • Apr 9, 2012 10:34am Apr 9, 2012 10:34am
If one is a bull all they see is others that are bearish and vice versa.

If it makes them happy so be it. Making money counts, not being right.

And BTW Gartman, besides writing a daily trade recommendation paid service (not a freebie like Seeking Alpha), also trades, advises and manages pension fund money over a couple of decades. Does Lawyer/Accountant Avi Gilburt, whoever he is?
  • #18,346
  • Apr 9, 2012 10:38am Apr 9, 2012 10:38am
That kind of direct news must have some impact in my opinion
  • #18,347
  • Apr 9, 2012 10:49am Apr 9, 2012 10:49am
I Got 5 / 5 Breaks I was looking for today.

Should have left on my low entries in kiwi, Left on Aussie,
for the roll.

Otherwise I am done FX trading for the day. 300 pips booked. a good day.

now, I'll watch Gold again while I do some paperwork!!

Looking to get back into Longs CABLE, EURO, KIWI,
Short, Swissy, maybe U/Cad
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,348
  • Edited 11:02am Apr 9, 2012 10:50am | Edited 11:02am
I am a Bear at the moment, but what i said when i had made zero buys, i stick to it, $1600 and $28 are the prices here to stay.

I can only tell you whats going on, where the actual metal is consumed, i clearly remember buying small jewellery for my wife at around $250 (here we have a trend of 22 karat gold jewellery) and i have seen people buying today, there are many more shops and there is much more rush at $1600 !

EDIT:
And gold jewellery is a keeper's item in this part of world, Pakistan, India, Bangladesh, it is never sold, it is only sold in some emergency, otherwise it is always exchanged for new designed jewellery, it is No business, it is a collector's item here, kept forever, transferred to children then grandchildren, great-grandchildren and so on, it is like this here.
  • #18,349
  • Apr 9, 2012 8:11pm Apr 9, 2012 8:11pm
Yes, that's why we love and follow Indian buying seasons here in other parts of the world!!!

BTW Gold and Silver Demo up top is in profit, so there are trades to take.
Quoting forexfacts
I am a Bear at the moment, but what i said when i had made zero buys, i stick to it, $1600 and $28 are the prices here to stay.

I can only tell you whats going on, where the actual metal is consumed, i clearly remember buying small jewellery for my wife at around $250 (here we have a trend of 22 karat gold jewellery) and i have seen people buying today, there are many more shops and there is much more rush at $1600 !

EDIT:
And gold jewellery is a keeper's item in this part of world, Pakistan, India, Bangladesh, it is never sold, it is only...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,350
  • Apr 9, 2012 8:41pm Apr 9, 2012 8:41pm
Quoting XTrade
Yes, that's why we love and follow Indian buying seasons here in other parts of the world!!!

BTW Gold and Silver Demo up top is in profit, so there are trades to take.
Dude when do u sleep? It seems we overlap here in FF, when I come on your usually gone
  • #18,351
  • Apr 9, 2012 8:55pm Apr 9, 2012 8:55pm
I like to trade Asia / Aussie.

I am in EST.

I also stay up late/ go to sleep early say 10 pm and wake up sometimes at 3:00 AM on the nose with no alarm and start trading.

Usually I trade the power session END London 8-12pm overlap US start 8 am to 12 pm. Sometimes afternoons f market is moving, like today I stopped at 1 pm.

Though, I do usually prefer london even though it is not in tune with my sleep.

I am a bit pissed right now that my second 200 pips of the day just went to 100 on an AUD/ KIWI move south....

Can't be greedy though, that still makes a good day at net 400.
Quoting split_unit
Dude when do u sleep? It seems we overlap here in FF, when I come on your usually gone
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,352
  • Apr 9, 2012 9:08pm Apr 9, 2012 9:08pm
Quoting XTrade
I like to trade Asia / Aussie.

I am in EST.

I also stay up late/ go to sleep early say 10 pm and wake up sometimes at 3:00 AM on the nose with no alarm and start trading.

Usually I trade the power session END London 8-12pm overlap US start 8 am to 12 pm. Sometimes afternoons f market is moving, like today I stopped at 1 pm.

Though, I do usually prefer london even though it is not in tune with my sleep.

I am a bit pissed right now that my second 200 pips of the day just went to 100 on an AUD/ KIWI move south....

Can't be greedy though, that...
I havent looked at that pair in like a year or more...too volatile for me congrats btw on your 400 pips good job...yeah I also gave up on trying to book the grand canyon a while ago, I take profits much earlier these days cause it suits my style. Nothing worse than being far ahead and coming back to break even, it breaks you after a few times.

I live in GMT+4 ... I only trade US equities, and I 90% of the time initiate positions only during the first 3 hours of the US trading session. The NYSE/NASDAQ opens at 5:30 p.m (GMT+4) and I am usually on till 8:00-9:00 p.m (GMT+4), I rarely trade the afternoon session, in a low volatility environment like the one we had recently, holding positions for a time period of 1-4 days has been working great, things might change soon though...
  • #18,353
  • Apr 9, 2012 9:22pm Apr 9, 2012 9:22pm
Answer 2 = not much. I actually love sleeping during the second hour of NY open which can be deadly if the market is in " day trade mode"....
Quoting split_unit
Dude when do u sleep? It seems we overlap here in FF, when I come on your usually gone
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,354
  • Apr 9, 2012 9:23pm Apr 9, 2012 9:23pm
HAS RETAKEN 1650 by 2 bucks current appx spot is 1652 and counting, silver upski as well!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #18,355
  • Apr 10, 2012 12:52am Apr 10, 2012 12:52am
Why Warren Buffett hates gold

Quote
http://business.financialpost.com/20...tt-hates-gold/


breeze
  • #18,356
  • Apr 10, 2012 3:27am Apr 10, 2012 3:27am
Quoting fxbreeze
Why Warren Buffett hates gold

breeze

Maybe because he sold most of his silver and gold earlier ?
  • #18,357
  • Apr 10, 2012 3:31am Apr 10, 2012 3:31am
Quoting forexfacts
Maybe because he sold most of his silver and gold earlier ?
Perhaps people are selling his stock, prefer gold

breeze
  • #18,358
  • Apr 10, 2012 4:19am Apr 10, 2012 4:19am
Quoting forexfacts
Maybe because he sold most of his silver and gold earlier ?
  • #18,359
  • Apr 10, 2012 5:58am Apr 10, 2012 5:58am
Quoting fxbreeze
Why Warren Buffett hates gold




breeze
You can't believe anything he says....he is one of the elite puppets....in fact anything he says is more likely "double speak" (1984)....the opposite of what he says.
He is the one who's railroad is benefiting from no keystone pipeline....gee....wonder if it was all those contributions to obummers campaigns.

He is not to be trusted in my humble opinion....although I guess it is not that humble
Life's a bitch....so be a dog and cover it!
  • #18,360
  • Apr 10, 2012 8:03am Apr 10, 2012 8:03am
Quoting forexfacts
That kind of direct news must have some impact in my opinion
And today?

If Gold jewelry buying in India yesterday had an impact whatsoever it sure was a one day event.
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