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

  • #4,321
  • Apr 7, 2011 5:23am Apr 7, 2011 5:23am
Eight minutes.

I expect more filings or a poor #

Trichet is speaking as well today...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,322
  • Apr 7, 2011 5:25am Apr 7, 2011 5:25am
Silver has been undervalued artificially and somewhat naturally due to it's industrial use for many years.

A few years from today the price may be flirting with the 100 an oz mark.
Depending on what is used to replace it in certain industrial apps, perhaps an alloy, jewelry and investment demand.


Quoting blue_z_zz
it seems nothing is stopping the devils metal (silver) its just going up every dip faces heavy buying interest

is it a bubble or is it really undervalued and were facing a real silver shortage?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,323
  • Apr 7, 2011 5:59am Apr 7, 2011 5:59am
Jobs basically unchanged, slightly better....

Could provide a little USD strength.

Still is overall a high number.

ECB raised rates. Trichet is speaking now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,324
  • Apr 7, 2011 6:57am Apr 7, 2011 6:57am
Here we go boys and girls!!

THat Unemployment number in the scheme of things is pathetic. Don't let the media fool you!

Targets for today -
immediate Silver Break 40.00 Next 41

Gold 1470/ 75 Gold Likes to move in more Quarters of 100. Sometimes we get stuck in a 10 USD range though.

Range just broke north.

AUD LONG still kicking A$$! CAD is Crushing the USD as well.

Brent off highs - still strong at 122 and
WTI (light crude) right about 109.

I heard Libya shipped some oil today to China - buyer unknown....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,325
  • Apr 7, 2011 6:58am Apr 7, 2011 6:58am
  •  crmcwi
  • | Joined Mar 2010 | Status: Entrepreneur, Programmer, Analyst | 35 Posts
Quoting beeb
just the market trying to take your money - nothing moves in a straight line,,,,

beeb

Yep, thanks Beeb. There's always that. Does anyone know of chat room where insiders share information about metals trading? For example, I use http://www.forexlive.com/category/mkt-news for news about currencies.
  • #4,326
  • Apr 7, 2011 7:01am Apr 7, 2011 7:01am
Quoting crmcwi
Yep, thanks Beeb. There's always that. Does anyone know of chat room where insiders share information about metals trading? For example, I use http://www.forexlive.com/category/mkt-news for news about currencies.
I belong to James16 private site. This has a chat room.
Also forex4noobs.com has a chat room.
Don't know of anything specific to this area.

Silver very flat, now edging up.
I can still see a retracement at $40. How big?
Well that is an unknown quantity.
Big enough to profit by, definitely.
  • #4,327
  • Apr 7, 2011 7:18am Apr 7, 2011 7:18am
Gold headed that way methinks, but first a slap down at $1465
  • #4,328
  • Apr 7, 2011 7:21am Apr 7, 2011 7:21am
IMO if it stays above 1463 ish through the fix we might get another run......

beeb
  • #4,329
  • Apr 7, 2011 7:42am Apr 7, 2011 7:42am
couldnt grab a dime from this 30 dolar move
your opinion will be appreciated again xtrade..
thanks in advance
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  • #4,330
  • Apr 7, 2011 7:45am Apr 7, 2011 7:45am
Quoting highlander2
To bail or not to bail, that is the question?

A retrace is very likely now...
I held out and my target has just been hit. My first 1000 point winner First time i have no trades on for 2 months.
  • #4,331
  • Apr 7, 2011 7:50am Apr 7, 2011 7:50am
Another Earthquake just hit Japan...... not good. It was around 7.4
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #4,332
  • Apr 7, 2011 7:57am Apr 7, 2011 7:57am
Quoting XTrade
Another Earthquake just hit Japan...... not good. It was around 7.4
wish god helps..
my prays are with them
  • #4,333
  • Apr 7, 2011 7:57am Apr 7, 2011 7:57am
Quoting highlander2
I held out and my target has just been hit. My first 1000 point winner First time i have no trades on for 2 months.
  • #4,334
  • Apr 7, 2011 7:57am Apr 7, 2011 7:57am
Quoting highlander2
I held out and my target has just been hit. My first 1000 point winner First time i have no trades on for 2 months.
nice one
  • #4,335
  • Apr 7, 2011 8:07am Apr 7, 2011 8:07am
from dailyfx:

silver
Prices have met resistance at the top of a rising channel carved out since late February, a boundary reinforced by the psychologically significant $40.00 figure. Early signs of negative RSI divergence argue for a pullback, with initial support lining up at $38.15. A break below that clears the way down to the channel bottom, now at $36.24.

http://www.dailyfx.com/forex/fundame..._Decision.html
  • #4,336
  • Apr 7, 2011 8:16am Apr 7, 2011 8:16am
Quoting crmcwi
Does anyone know of chat room where insiders share information about metals trading? For example, I use http://www.forexlive.com/category/mkt-news for news about currencies.
I follow Forexlive in paralell to FF. I don't necessarily recomend everybody to go there, but I like to get info from them - and some good jokes, too

@highlander: congratulations!

@XTrade: I have to agree with your numbers. Gold touched 1465 while silver didn't even bother to have a new high. It seems that the market is comfortable with that stand-by levels and just waiting for the right moment to move higher.

Now the question is: do we have a correction after silver reaches $40 or after gold reaches $1500? That's for the round number fans.
"The reason I was born and came into the world is to testify to the truth."
  • #4,337
  • Apr 7, 2011 8:39am Apr 7, 2011 8:39am
Quoting harvest3r
I follow Forexlive in paralell to FF. I don't necessarily recomend everybody to go there, but I like to get info from them - and some good jokes, too

@highlander: congratulations!

@XTrade: I have to agree with your numbers. Gold touched 1465 while silver didn't even bother to have a new high. It seems that the market is comfortable with that stand-by levels and just waiting for the right moment to move higher.

Now the question is: do we have a correction after silver reaches $40 or after gold reaches $1500? That's for the round number...
The round numbers are seen by everyone. Even a child looking at the chart will see these.
Some people don't use fibs, pin bars, trend lines, forks, bats wings or horoscope readings.
But we all see the big round numbers.
Liquidation stops exist there more than anywhere else on the chart.

$40 is a big big round number and $1500, well it's all too obvious.
We are all talking about it. We are expecting a retracement.
Who is going to go long at $40 and $1500? Not many.
Who is going short? Plenty, plenty will.
  • #4,338
  • Apr 7, 2011 9:18am Apr 7, 2011 9:18am
Quoting six gun
The round numbers are seen by everyone. Even a child looking at the chart will see these.
Some people don't use fibs, pin bars, trend lines, forks, bats wings or horoscope readings.
But we all see the big round numbers.
Liquidation stops exist there more than anywhere else on the chart.

$40 is a big big round number and $1500, well it's all too obvious.
We are all talking about it. We are expecting a retracement.
Who is going to go long at $40 and $1500? Not many.
Who is going short? Plenty, plenty will.
<Euroscum nods>, I am off back to UK tomorrow with my family, so I am keeping a short open anyway which is 20 pips in the red on silver now, maybe I close tonight if it is favourable. Anyway will add some more at 40 for good measure.
Hope I do not miss the big sell off I have been salivating for. Not sure if we will get to 1500 gold on a friday but if we do I think we will see 1445 pretty soon afterwards as the first down leg.
  • #4,339
  • Apr 7, 2011 9:41am Apr 7, 2011 9:41am
Quoting LasVahGoose
My POST over the the Video Store. Curious to see what the 2011 book is going to show.
i really get scared when poeple start saying "this time its defferent"

im just going to sit on the side and watch but i would not be shocked if this devil goes much higher then 40
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #4,340
  • Apr 7, 2011 9:47am Apr 7, 2011 9:47am
Quoting blue_z_zz
i really get scared when poeple start saying "this time its defferent"

im just going to sit on the side and watch
Would you buy a used car from that guy?
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