Gold & USD (9-11-09)

Gold has certainly shot up since the purchase of of 200 tonnes of it by the Bank of India. I haven't seen a significant drop in the price of USD though (yet). Currently USD/CHF is 1.017. I'm expecting it to break parity because of the aforementioned in the next couple of days. Just my 2c worth.

I noticed the same thing about the USD reflection, making this latest record somewhat suspect. Driven somewhat by the 200 MT buy, China has been loading up as well.
The Indian buy was very public though. Much goes on behind the scenes. However. After the break above 1050 we have yet to see sub 1000, with possible support @ 1030. Just a thought.

Gold up as of now $1.30

I do not think CHF is the right currency to measure USD against. UBS got CDS exposure that is 6 times Swiss GDP so they may be seen just as vulnerable as US and UK. Gold is still a safe bet, it should keep hitting fresh highs for a while but be careful, the dollars you get when you sell it again will be worth much much much less than the dollars you bought it for.

happy trading time everybody...just wanna share my trading strategy on spot gold and oil(with brokers that offering it!)
on a daily chart basis,i put aline on the high and low for each of the 2 commodities....then put a buy stop and a sell stop,at the high and low price of the precedent day...plus 2 times the spread;gold have a 50 pips spread(odl) then entry on a buystop at high price plus 100 pips....same for the sell stop...low price minus 100 pips for the entry.then you just have to setup if you want some targets and trailing stops....personnaly i am using a tool that can managed the trade at the moment the trade is on,using some trailings stop,trailing start features and breakeven value with pips to breakeven....for being sure to exit the trade with aminimum of gain each time my targets are not full reached;i setup the trade every day at the market close(gold and oil)4:00 pm eastern time(new york time) then look at it only the day after on the morning...targets should be the ones you are comfortable with,but stoploss must be the difference in pips between the high and low price of your reference candle!...if the sell stop had been launched...then i keep the buy stop and resetup a new sell stop order on the actual daily candle....inverse for a buy stop activated...both strategy for both oil and spot gold;i am using this strategy for 3 months so far with 49 winning trades and only 2 losses..... so happy tarding time guys!

USD index is down 10% for the year and gold is up 50% during the same period. Something more is going on other than mere USD weakness.

....stoploss always same value of the difference between the high-low of yesterday's candle;if the sell stop is launched,then stoploss will be the high of the ref candle plus the spread;if the candle of yesterday is 1400 pips long,then the stoploss will be 1400 pips + 50 pips for the spread... for odl on spot gold and just apply same pattern on oil!;you can see my trades of last week on the print screen! so happy trading time !http://forums.babypips.com/images/smilies/biggrin.gif