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

  • #20,781
  • Sep 6, 2012 1:38am Sep 6, 2012 1:38am
NEW HIGH 1704/5!!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,782
  • Sep 6, 2012 1:40am Sep 6, 2012 1:40am
Quoting XTrade
NEW HIGH 1704/5!!!!!!
HELL YEAH!

Silver is just destroying gold. But thats to be expected. Double top on the GSR and its going for neckline at 48. If that is broken then we could see 33 again which would be amazing

32.87!!
Be hopeful in a winning position, and fearful in a losing position.
  • #20,783
  • Sep 6, 2012 2:04am Sep 6, 2012 2:04am
I wish someone could come up with an indicator in MT4 for XAUUSD:XAGUSD ratio

I have searched but could not find one myself

If anyone knows of one please let me know!
Be hopeful in a winning position, and fearful in a losing position.
  • #20,784
  • Sep 6, 2012 2:27am Sep 6, 2012 2:27am
Will be interesting to see gold react after the news...
  • #20,785
  • Sep 6, 2012 2:42am Sep 6, 2012 2:42am
NEEEEED to get to coin shop before we hit 40 YIKES!!!!!!!!!!!


Quoting Rag2RichesFX
HELL YEAH!

Silver is just destroying gold. But thats to be expected. Double top on the GSR and its going for neckline at 48. If that is broken then we could see 33 again which would be amazing

32.87!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,786
  • Sep 6, 2012 2:43am Sep 6, 2012 2:43am
You don't need an indi just go here

http://www.kitco.com/market/

see

Quoting Rag2RichesFX
I wish someone could come up with an indicator in MT4 for XAUUSD:XAGUSD ratio

I have searched but could not find one myself

If anyone knows of one please let me know!

Or ask someone to write it for you all it needs to do is divide the spot price of silver into the spot price of gold working in ONE TROY OZ increments.... I don't write mxl or whatever it is but I would imagine this is quite an easy thing to do for someone who does....
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,787
  • Sep 6, 2012 2:58am Sep 6, 2012 2:58am
Interestingly enough I also see Platinum Daily breaking out of a year long downtrend......

Be aware it is ECB today and NFP tomorrow so usual rules apply.......

beeb
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  • #20,788
  • Sep 6, 2012 3:03am Sep 6, 2012 3:03am
Damn AG IS KICKING some A$$ current price at post 32.960

Live chart subject t0 change on refresh, these will be fun to look back on when we are at 50 - that's why I started recording price @ post.

http://www.kitco.com/images/live/silver.gif
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,789
  • Sep 6, 2012 3:08am Sep 6, 2012 3:08am
It will be interesting to see if platinum can regain it's seat.

Not quite sure what to say on that, supply issues could make it more expensive than gold, otherwise I think the yellow metal will prevail as king,

Nevertheless, I am HAPPY to see platinum break that fork. time to start one looking up perhaps, would be a nice forecasting tool.


IF PT does overtake gold there have been so many physical ops I cannot even count, yet still at current price it's basically a steal compared to a high near 2200.

I mean..... I'm targeting just as a short, long term target GOLD at 2150, which at current would put PT at something like, 2000, not uncharted territory for the metal....

Quoting beeb
Interestingly enough I also see Platinum Daily breaking out of a year long downtrend......

Be aware it is ECB today and NFP tomorrow so usual rules apply.......

beeb
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,790
  • Sep 6, 2012 4:34am Sep 6, 2012 4:34am
All that physical buying you've been suggested to do over the past few months is starting, just starting, well depending on buy in, to pay off!!!!!!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,791
  • Sep 6, 2012 7:56am Sep 6, 2012 7:56am
I beleive Gold to retrace to 1690$ where we can think about buying position. With good emplyment reports, i beleive ISM Non-Manufacturing PMI report would also be good, so gold can retrace till 1690.
  • #20,792
  • Sep 6, 2012 9:10am Sep 6, 2012 9:10am
Quoting XTrade
All that physical buying you've been suggested to do over the past few months is starting, just starting, well depending on buy in, to pay off!!!!!!!!!!
Now all my physical gold that I bought few months ago at breakeven price.... lol..

cheers
  • #20,793
  • Sep 6, 2012 9:29pm Sep 6, 2012 9:29pm
GOOD FOR yoU!!!!!!!!!!!


THAT IS AN ACHIEVEMENT!! YOU MADE THE SPREAD! AND PHYSICAL IS N O T CHEAP these days!

Quoting zam4ever
Now all my physical gold that I bought few months ago at breakeven price.... lol..

cheers
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,794
  • Sep 6, 2012 10:12pm Sep 6, 2012 10:12pm
Hi all

Being the conservative trader that I am I just wanted to make you all aware of a couple of indications that the xau price may drop in the short term.

As you can see from my chart the price dropped decisively once it reached the previously untested supply level at around 1712, resulting in a bearish pinbar forming yesterday. I realise the pinbar doesn't qualify in a 100% technical sense, and gold is very driven by fundamentals and news, however with NFP out tonight my suggestion to play safe would be to lock in any long profits and see how it pans out for next week.

Just my 2c.

Have a great weekend

cheers Cath
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  • #20,795
  • Edited 11:01pm Sep 6, 2012 10:44pm | Edited 11:01pm
Cath,

With the recent gains some of which fast
ie: Slow 1550 - 1710

Fast 1600 - 1690

It is very possible that short term holders will liquify their positions tomorrow before news and just to square up the week with positive books.
(at least on Gold.)


Looking at 1700 as a whole (BELOW) we can see that there is / was a possible resistance / supply area right around 1713/15 orders likely set to fill short at 1710 thru 12 to take advantage of the small dip..

Now, let's take a look at all the supports and resistances I've outlined. It wont be the easiest number to cross / especially because when we get to 18--/1900 there are no real retested resistancances, perhaps a slight bit in the 18s but not much.

So I'm looking for some battles here in the 17s, I believe the bulls will prevail, bears had their chance at 1550 to really turn the tide yet there was no follow thru and the days were marked due to the "summer doldrums" coming to an end.

In any case not sure if this is really a response! Thanks for posting.

I don't see any dip below 1680 this or next week sticking...


Chart===== Daily GOLD

Sorry so small forgot to take shot when detached........ went back and was attached , now I can't get it to detach again.!!!!!!!!!!
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,796
  • Sep 6, 2012 11:06pm Sep 6, 2012 11:06pm
hey no arguments from me there, I was meaning very short term over the weekend for any non-position traders, as I don't see the point in risking gains by holding on and watching them drop and then rise again, I would rather get out with a profit now and buy in again at a lower price later. However it could all be overly cautious and price might skyrocket again tonight, but I would rather not count on that when I feel it is completely unpredictable at this point, and my short term indications are for a drop in price.

cheers!
  • #20,797
  • Sep 6, 2012 11:16pm Sep 6, 2012 11:16pm
Quoting CathS
hey no arguments from me there, I was meaning very short term over the weekend for any non-position traders, as I don't see the point in risking gains by holding on and watching them drop and then rise again, I would rather get out with a profit now and buy in again at a lower price later. However it could all be overly cautious and price might skyrocket again tonight, but I would rather not count on that when I feel it is completely unpredictable at this point, and my short term indications are for a drop in price.

cheers!
Definitely,

Agree with your point of view. I locked my gold profit at 1692, since i been holding long since 1650.

Today is NFP and unemployment rate, which is the most volatile for gold, technical will be downplayed by fundamental news. I hope NFP and unemployment rate data will provide a mega boost for gold.

Trade safe,

R
  • #20,798
  • Sep 6, 2012 11:26pm Sep 6, 2012 11:26pm
More Gold Techs
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,799
  • Edited Sep 7, 2012 9:51pm Sep 6, 2012 11:29pm | Edited Sep 7, 2012 9:51pm
Unemployment will likely be unchanged, or worse, doubtful slightly better, yet "slightly better at this point is very bad any way so.............


NFP... Well, All I hear is of more and more companies laying off (edit fix) employees soooo.. let's see what kind of numbers they can "print" up

We could on poor news easily break all resistances in the immediate pathway..
Quoting llrickkll
Definitely,

Agree with your point of view. I locked my gold profit at 1692, since i been holding long since 1650.

Today is NFP and unemployment rate, which is the most volatile for gold, technical will be downplayed by fundamental news. I hope NFP and unemployment rate data will provide a mega boost for gold.

Trade safe,

R
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #20,800
  • Edited Sep 7, 2012 12:44am Sep 6, 2012 11:31pm | Edited Sep 7, 2012 12:44am
Never a good idea to enter a new position on Friday for gold unless you are GAP trading or there is a huge enough dip to warrant a great entry...

YET THIS ALL GOES OUT THE WINDOW IF THE US NEWS IS HORRIBLE AND THE CHART IS BREAKING!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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