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

  • #26,261
  • Oct 8, 2013 7:40am Oct 8, 2013 7:40am
I assure you guys that this move up is still a well played fake as usual in gold. 1334 sell limit or 1316 sell stop is still intact.
  • #26,262
  • Oct 8, 2013 8:05am Oct 8, 2013 8:05am
Quoting KiwiOz
{quote} I posted the DeMark system PDFs a couple of weeks ago. I can post them again if anyone is interested.
Is it this one that you are talking about Kiwioz ? I looks nice.
  • #26,263
  • Oct 8, 2013 8:15am Oct 8, 2013 8:15am
Quoting limprobable
{quote} That's what my graph say... but it could go down from now and not reach 1335/37. Could go back to 1280 and 1220 in extension.
could very well do that. I find PA very strange and difficult to trade the past week.... waiting for some direction out of this zigzagging knot
cryptocurrency everytime
  • #26,264
  • Oct 8, 2013 8:26am Oct 8, 2013 8:26am
Quoting okanemici
I assure you guys that this move up is still a well played fake as usual in gold. 1334 sell limit or 1316 sell stop is still intact.
post your chart?
  • #26,265
  • Edited 9:51am Oct 8, 2013 9:29am | Edited 9:51am
Quoting trexy123
{quote} post your chart?
I'm sure my charts won't persuade you but you can test me with the results in a few days.I'll be bullish gold only above 1355 !

Maybe this helps, it was a very good call.Don't trust me but just check my calls results.

Quoting okanemici
Do yourselves a favour and take this opportunity , Long Audusd 0.9395 , short Euraud 1.4440 !!!
  • #26,266
  • Oct 8, 2013 9:50am Oct 8, 2013 9:50am
Quoting KiwiOz
{quote} I posted the DeMark system PDFs a couple of weeks ago. I can post them again if anyone is interested.
yes , please post the DeMark system PDFs again. thanks
  • #26,267
  • Oct 8, 2013 10:06am Oct 8, 2013 10:06am
https://encrypted-tbn3.gstatic.com/i...OZpjDuaugE20Py
  • #26,268
  • Oct 8, 2013 12:25pm Oct 8, 2013 12:25pm
Hey everyone. I take my first trade on gold today. Short XAU/CHF from 1196. Should have entered at 1199 but close enough- couldn't be helped. Top should have been made already. I'd expect it to drop for at least a week.
  • #26,269
  • Oct 8, 2013 12:45pm Oct 8, 2013 12:45pm
i remember when gold had 'buy and hold' strategy everything is changing, now gold strategy is changed to 'sell and hold' what about gold global currency?, is china still digging gold ? USD is not good reserve currency what you guys/girls think about it ?
Mail: holygrailea (AT) gmail ( DOT ) com
  • #26,270
  • Oct 8, 2013 2:01pm Oct 8, 2013 2:01pm
Quoting SpikerTrader
i remember when gold had 'buy and hold' strategy everything is changing, now gold strategy is changed to 'sell and hold' what about gold global currency?, is china still digging gold ? USD is not good reserve currency what you guys/girls think about it ?
Dunno about anybody else, but as far as I'm concerned I think gold makes a much better store of value than a paper currency. Problem is since it was demonetized it is prone to huge swings. If you bought in 1980 you'd have been under water for a very long time. The entire reason why gold went up so much now for more than a decade was to compensate for being held so low for so long by everybody selling it and moving into paper assets.

If you don't have a reason to expect to be able to time the market perfectly you'd need to have a portfolio with gold being just one part of it and company shares another necessary component as well. (ideally you'd want to add other things too)
  • #26,271
  • Oct 8, 2013 3:57pm Oct 8, 2013 3:57pm
Goldman's Currie Says Gold Is 'Slam Dunk' Sell After Shutdown‏:

Gold, set for its first annual loss in 13 years, is a “slam dunk” sell for next year because the U.S. economy will extend its recovery after lawmakers resolve stalemates over the nation’s budget and debt ceiling, Goldman Sachs Group Inc.’s Jeffrey Currie said.

The bank has a target for gold prices next year at $1,050 an ounce, Currie, Goldman Sachs’s head of commodities research, said today on a panel in London. The precious metal has tumbled 21 percent this year to $1,322.28 an ounce on speculation that the Federal Reserve would reduce its $85 billion monthly bond-buying program, known as quantitative easing, as the economy recovers. Lawmakers probably will reach an agreement on raising the debt ceiling before the Oct. 17 deadline, Currie said.

“Once we get past this stalemate in Washington, precious metals are a slam dunk sell at that point,” Currie said. “You have to argue that with significant recovery in the U.S., tapering of QE should put downward pressure on gold prices.”

Currie and Ric Deverell, the head of commodities research at Credit Suisse AG, both said on a panel at the Commodities Week conference in London today that selling gold is their top recommendation for trading in raw materials in the next year. Gold is heading for its first annual loss since 2000, and is the third-worst performing commodity in the Standard & Poor’s GSCI gauge of 24 raw materials this year, after corn and silver.

Senate Democrats are planning a test vote before the end of this week on a measure that would grant President Barack Obama authority to raise the $16.7 trillion debt ceiling. The U.S. will run out of borrowing authority on Oct. 17 and will have about $30 billion in cash after that. The country would be unable to pay all of its bills, including benefits, salaries and interest, some time between Oct. 22 and Oct. 31, according to the Congressional Budget Office.

“The downside of driving the bus off the cliff is so significant that we will come to a resolution,” Currie said.
  • #26,272
  • Oct 8, 2013 5:06pm Oct 8, 2013 5:06pm
Quoting TheArcher
{quote} yes , please post the DeMark system PDFs again. thanks

here y'go
Attached File(s)
File Type: pdf Tom Demark Price Pojection 01 (1).pdf   1.1 MB | 613 downloads
File Type: pdf Tom Demark Price Pojection 02.pdf   445 KB | 510 downloads
File Type: pdf Tom Demark Price Pojection 03 (1).pdf   581 KB | 518 downloads
Money Makes Money
  • #26,273
  • Oct 8, 2013 5:22pm Oct 8, 2013 5:22pm
The next 24 hrs are going to be interesting. Probably won't happen 'till the US session but this could go either way.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 43 KB
Click to Enlarge Name: xauusddaily.png Size: 44 KB
Money Makes Money
  • #26,274
  • Oct 8, 2013 6:56pm Oct 8, 2013 6:56pm
Quoting KiwiOz
{quote} here y'go {image} {image} {image}
got it . thanks.
  • #26,275
  • Oct 8, 2013 7:27pm Oct 8, 2013 7:27pm
[quote=JeremyWS;7013595Goldman Sachs Group Inc.’s Jeffrey Currie said. The bank has a target for gold prices next year at $1,050 an ounce... Oct. 17 deadline, Currie said. “Once we get past this stalemate in Washington, precious metals are a slam dunk sell at that point,”... Currie and Ric Deverell, the head of commodities research at Credit Suisse AG, both said on a panel at the Commodities Week conference in London today that selling gold is their top recommendation for trading in raw materials in the next year.[/quote].





Goldman Sachs says $1050

Takytto says $1840 , seconded by venzen.

A case of long term (Goldman) vs short term (Takytto) ? or are they talking about equal time frame ?
  • #26,276
  • Oct 8, 2013 7:46pm Oct 8, 2013 7:46pm
Quoting TheArcher
{quote}. Goldman Sachs says $1050 Takytto says $1840 , seconded by venzen. A case of long term (Goldman) vs short term (Takytto) ? or are they talking about equal time frame ?
So, goldman says $1050 next year. Is $250 good enough a target for them? Considering this is gold and we can move $50 on a big day.
We have US govt. increasing the debt ceiling and fed tapering, that should erase some debt quickly.
A trade should be based on an assumption based on facts
  • #26,277
  • Oct 8, 2013 8:04pm Oct 8, 2013 8:04pm
Quoting venzen
{quote} Mave, about your question re: Gold and inflation: there is a longstanding belief that (over the longterm) Gold protects one's wealth against the ravages of inflation. Here are two links. The first just defines "Inflation Hedge" and the second discusses Gold in this role. www.investopedia.com/terms/i/inflation-hedge.asp http://www.gold.org/investment/why_a...and_inflation/ Inflation is defined as the rate at which prices for goods and services rises. It is better understood as an osmosis between...

So, by following the data and bank related news one could get a general sense of the direction we are headed in?
2 month bond yield inc. by 25 basis points, what does this mean?
A trade should be based on an assumption based on facts
  • #26,278
  • Oct 8, 2013 8:04pm Oct 8, 2013 8:04pm
Quoting Mave
{quote} So, goldman says $1050 next year. Is $250 good enough a target for them? Considering this is gold and we can move $50 on a big day. We have US govt. increasing the debt ceiling and fed tapering, that should erase some debt quickly.

what is your take of Goldman :

to believe them or not ? are they throwing in red herring ?

if they say down , are they preparing to go up ?
  • #26,279
  • Oct 8, 2013 8:06pm Oct 8, 2013 8:06pm
Attached Image (click to enlarge)
Click to Enlarge Name: gold0910.png Size: 23 KB
  • #26,280
  • Oct 8, 2013 8:10pm Oct 8, 2013 8:10pm
Quoting TheArcher
{quote} what is your take of Goldman : to believe them or not ? are they throwing in red herring ? if they say down , are they preparing to go up ?
If i remember correctly, you posted this link -- http://www.futuresmag.com/2013/10/07...&t=commodities
Now on the believing part, you should not because you won't be trading your own idea. Take a stance, bull or bear, and read your charts. Remember, Bulls make money Bears make money, pigs get slaughtered.

I get barbequed every other week
A trade should be based on an assumption based on facts
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