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

Guys, i suggest you take your positions...we are getting ready for take off...

I have a long poition at 1739, had taken it before Germany Court Decision and now ii am stuck with it. Wht does your analysis say.

FOMC today - it could be volatile....

beeb

“People have priced in quantitative easing and the disappointment factor is very high,” said Bayram Dincer, an analyst at LGT Capital Management - bberg

I'm doing that straddle i was talking yesterday

The one-month interest rate to lend gold in exchange for dollars was a negative 0.13 percent today, the lowest since April and compared with a negative 0.12 percent yesterday, according to data on Bloomberg. The lease rate is derived by subtracting the gold forward offered rate from the London Interbank Offered Rate. A negative reading means banks have to pay to have their gold deposits lent. -bberg

Some real quick action:

My analysis: hold on to it...i also bought some more today @1731

FOMC today - it was volatile.....

beeb

Oups

Haha beep, we're so pro.... ), especially our "analysis"...

Thank You everyone for your views on Gold and Silver, I had started my trade and was down by 70% of my investment and after joining this thread and learning here was great, now i am at 20% profit.

Special thanks to Xtrade and Beeb.

Hope to learn more.

My paranoia got the better of me, thinking some insider knowledge that the QE announcement would be disappointing is what made gold drop to $1720, so I never pulled the trigger on doubling my gold futures at that gift of a pull-back until $1750 even though $1720 happened to be the bottom of the current two-week uptrending channel. I hope some of the rest of you took advantage of it.

Speaking of pull-backs, I've been so fixated on maintaining a stock portfolio this past week that I've all-but ignored the metals other than to double-up in silver, gold, and platinum. Now that the FOMC press conference is over and FOMC market reaction is (presumably) done for the day, what are the rest of you looking at for stops and re-entry points?

Just drawing some quick lines, it looks like a retest of $1760, the 23.6% Fibonacci retracement using today's high/low, is possible which would be significant because it coincides with a retest of the 38.2% when measured against the Euro. Drawing Fibonaccis (or is Fibonacci the plural?) across all the gold currency pairs just for today's move, I think $1760 should indeed hold for about a week, at which point it should encounter the afore mentioned upward channel and make its next significant move one way or the other, but I'm looking forward to seeing some alternate evaluations.

I'm too

Yes, superb and persistent analysis XTrade and Beeb. Keep it coming!

If you are not into the business of short selling then let me tell you, everybody is up

By the way it shows us the trust level in metals, looks like people do not trust currencies very much.

USD Index monthly chart:

http://i1185.photobucket.com/albums/...USDMonthly.png

Looks pretty dismal. LOL

Kind comments are much appreciated - many thanks

If anyone is interested my "forks guru" Paul Coghlan is holding an open webinar on Tuesday:

http://www.coghlancapital.com/node/4231

Usual caveat - I subscribe to the site but have no financial interest in it etc etc etc......

beeb

Any gold options traders here?
May I ask what are the current prices on call options for October, strike 1800 and 1825?

Who can give you such answers? We cannot make predictions on some given time scale, especially short terms, but we can tell you for sure gold will climb much higher than it is now...so if you are a daytrader use technical analysis if your an investor buy now while gold is still cheap - 1774.

P.S. There are still feelings in here that could make you go short on gold?! I mean, you guys should be worried you didn't go long earlier...but you could still ride this at least 'till 1920 (which i think we'll see this year) if you're scared to go further...

I'm often use it. I learned it was much from your chart .i really want to talk with you about fork, but my english is very poor ability .
thanks very much to XTRADE,BEEB,MUSCLEMIKE... once more !