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

  • #32,221
  • Jan 28, 2014 5:52pm Jan 28, 2014 5:52pm
Quoting Greener
{quote} Turkey's huge interest rate hike move has just brought new interest in the EM imho. I expect massive flow of money towards AUD, JPY & CAD as well as USD weakness. As a result I am bullish on gold. Risk is on in general. Tonight Obama may also send USD to Yell!
Hi Greener, thanks for the info.


DRT
  • #32,222
  • Jan 29, 2014 1:44am Jan 29, 2014 1:44am
Quoting Ssm
{quote} Pardon me. What do you mean?
The USD is now 1/1250th the value of what it was in 1814. That's an average drop in value of $6.25 a year. The FED has sold off gold at a rate of 66 tons per annum over the same period. At that rate, the US will have sold off 90% of it's reserves in 100 years time. Unfortunately, that's not the case. This past recession time since 2008, they have sold off nearly 1200 tons meaning that there is about 20 years of gold left at the renewed sell-off rate. As it stands now, the US owns about $343,750,000,000 worth of gold at last count. That is about 1/50th of national deficit and cannot save the country from disaster in a crash. Gold is meant to be a hedge against inflation and create a reserve to fall back on. Effectively the amount of gold held by the US is also owned by other countries and one of those is notably Germany. The US holds about $46,875,000,000 worth of German gold. Now that should tell you a lot about how the reserve currency has become a basket case due to financial mismanagement. Unless the price of gold rallies to $5000, the USD is very close to bankruptcy and loss of reserve status.

Hope this answers your question.
You win, you lose. All else is history. The future does not exist.
  • #32,223
  • Jan 29, 2014 5:17am Jan 29, 2014 5:17am
Quoting The Rhodie
{quote} The USD is now 1/1250th the value of what it was in 1814. That's an average drop in value of $6.25 a year. The FED has sold off gold at a rate of 66 tons per annum over the same period. At that rate, the US will have sold off 90% of it's reserves in 100 years time. Unfortunately, that's not the case. This past recession time since 2008, they have sold off nearly 1200 tons meaning that there is about 20 years of gold left at the renewed sell-off rate. As it stands now, the US owns about $343,750,000,000 worth of gold at last count. That is...
this is quite analytic. I like it.
Gold is my pleasure.
  • #32,224
  • Jan 29, 2014 5:28am Jan 29, 2014 5:28am
Quoting The Rhodie
{quote} The USD is now 1/1250th the value of what it was in 1814. That's an average drop in value of $6.25 a year. The FED has sold off gold at a rate of 66 tons per annum over the same period. At that rate, the US will have sold off 90% of it's reserves in 100 years time. Unfortunately, that's not the case. This past recession time since 2008, they have sold off nearly 1200 tons meaning that there is about 20 years of gold left at the renewed sell-off rate. As it stands now, the US owns about $343,750,000,000 worth of gold at last count. That is...
Thank you Rhodie.

Now that the $10B tapering this round is almost certain, how do you see Gold? I am bullish on Gold last week, but not now as it seems to be weak and in a tight range. With the $10B tapering confirmation after FOMC, Gold might just fall over the cliff.

What do you think?
The true fact is market doesn't care, risk mgt is important.
  • #32,225
  • Jan 29, 2014 5:30am Jan 29, 2014 5:30am
Quoting The Rhodie
{quote} The USD is now 1/1250th the value of what it was in 1814. That's an average drop in value of $6.25 a year. The FED has sold off gold at a rate of 66 tons per annum over the same period. At that rate, the US will have sold off 90% of it's reserves in 100 years time. Unfortunately, that's not the case. This past recession time since 2008, they have sold off nearly 1200 tons meaning that there is about 20 years of gold left at the renewed sell-off rate. As it stands now, the US owns about $343,750,000,000 worth of gold at last count. That is...
Awesome analysis!!
Luck has no place in trading. Leave that for the poker table.
  • #32,226
  • Jan 29, 2014 5:33am Jan 29, 2014 5:33am
Quoting The Rhodie
{quote} The USD is now 1/1250th the value of what it was in 1814. That's an average drop in value of $6.25 a year. The FED has sold off gold at a rate of 66 tons per annum over the same period. At that rate, the US will have sold off 90% of it's reserves in 100 years time. Unfortunately, that's not the case. This past recession time since 2008, they have sold off nearly 1200 tons meaning that there is about 20 years of gold left at the renewed sell-off rate. As it stands now, the US owns about $343,750,000,000 worth of gold at last count. That is...
  • #32,227
  • Jan 29, 2014 6:26am Jan 29, 2014 6:26am
This is like you woke me up dude

Quoting The Rhodie
{quote} The USD is now 1/1250th the value of what it was in 1814. That's an average drop in value of $6.25 a year. The FED has sold off gold at a rate of 66 tons per annum over the same period. At that rate, the US will have sold off 90% of it's reserves in 100 years time. Unfortunately, that's not the case. This past recession time since 2008, they have sold off nearly 1200 tons meaning that there is about 20 years of gold left at the renewed sell-off rate. As it stands now, the US owns about $343,750,000,000 worth of gold at last count. That is...
  • #32,228
  • Jan 29, 2014 9:08am Jan 29, 2014 9:08am
Quoting The Rhodie
{quote} Unless the price of gold rallies to $5000, the USD is very close to bankruptcy and loss of reserve status.
Prove it.
I have no clue what I'm talking about.
  • #32,229
  • Jan 29, 2014 9:56am Jan 29, 2014 9:56am
Quoting Boy Wonder
{quote} Prove it.

It's a mathematical excercise, not too difficult. What's your point?
  • #32,230
  • Jan 29, 2014 10:08am Jan 29, 2014 10:08am
Some people said that If FOMC tapers $10 billion, gold will down. But others say gold will up. I think it will down. How about you?
  • #32,231
  • Jan 29, 2014 10:19am Jan 29, 2014 10:19am
Quoting ttkien_it
Some people said that If FOMC tapers $10 billion, gold will down. But others say gold will up. I think it will down. How about you?
The table below shows the reaction of gold and silver to the FOMC’s decisions in the past several years
Attached Image (click to enlarge)
Click to Enlarge Name: FOMC-statment-and-Gold-Silver-December-20.jpg Size: 164 KB
  • #32,232
  • Jan 29, 2014 10:20am Jan 29, 2014 10:20am
Quoting ttkien_it
Some people said that If FOMC tapers $10 billion, gold will down. But others say gold will up. I think it will down. How about you?
probably you can find 50/50 answer, so what you're going to do? Make your own plan and follow it with discipline ..., if not sure what to do - wait, better do nothing then do it wrong...
  • #32,233
  • Jan 29, 2014 10:43am Jan 29, 2014 10:43am
Quoting okanemici
{quote} First long is here 1250 with this drop !
Looks like I'm in green ahead of FOMC I expect a weak dollar after FOMC announcement !!! That makes a buystop 1.3690 eurusd and more longs on gold too !
  • #32,234
  • Jan 29, 2014 12:09pm Jan 29, 2014 12:09pm
Quoting okanemici
{quote} Looks like I'm in green ahead of FOMC I expect a weak dollar after FOMC announcement !!! That makes a buystop 1.3690 eurusd and more longs on gold too !
Why do you expect a weak dollar? if there tapering you should expect a strong dollar.
never be greedy
  • #32,235
  • Jan 29, 2014 2:51pm Jan 29, 2014 2:51pm
Quoting Mohamed332
{quote} Why do you expect a weak dollar? if there tapering you should expect a strong dollar.
the FOMC statement is overall positive but admits some risks: unemployment data were mixed and housing sector deteriorating. Big question is also the new administration. I believe all this together is enough to stick with gold.
  • #32,236
  • Jan 29, 2014 8:10pm Jan 29, 2014 8:10pm
Quoting Mohamed332
{quote} Why do you expect a weak dollar? if there tapering you should expect a strong dollar.
Because the charts, indexes say so .If it gives gold is a buy limit 1255-58 !
  • #32,237
  • Jan 30, 2014 1:46am Jan 30, 2014 1:46am
XAUUSD Daily

Strategy Inv. Head and shoulders

Enjoy... Not a bull but a pattern
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD D1.png Size: 16 KB
  • #32,238
  • Jan 30, 2014 2:28am Jan 30, 2014 2:28am
Quoting JimmyC
XAUUSD Daily Strategy Inv. Head and shoulders Enjoy... Not a bull but a pattern {image}
I must say that is not a good looking inverted head and shoulder you have there. IMO, we are now in a range after the upmove since 31 Dec 2013.

Range levels:
High 1268
Low 1251

As indicated yesterday, I was previously bullish in Gold, but not anymore since yesterday as we could not break above 1268. Nevertheless, i am not too bearish as well since price also did not close below 1251 yesterday. Close means at least a H4 candle close.

Will be sideline until a clear direction is set, or may be playing within the range levels.
The true fact is market doesn't care, risk mgt is important.
  • #32,239
  • Jan 30, 2014 2:46am Jan 30, 2014 2:46am
My short term bias for gold is to look for long positions. At least until 1290-1293 area.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.JPG Size: 45 KB
  • #32,240
  • Jan 30, 2014 2:51am Jan 30, 2014 2:51am
Quoting goldJunkie
I had opened two shorts at 1251 earlier but closed untimely now trying again. Opened two shorts at 1252 Stop Loss @ 1280
My shorts have not been stopped thus far. I am feeling optimistic about greenery soon.
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