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

everytime gold starts falling, a lot of people start saying that gold will fall further and then it goes UP...

everytime gold starts going up, a lot of people start saying that gold will go higher and higher and then it goes down...

interesting.

Bad close (or bearish) close on Friday.

Much of this slide in commodities is directly related to the release of oil
from "strategic reserves" IMO - IT's RIDICULOUS that they released any oil.

Both WTI and Brent had been falling for days and if Im not correct they are both under 90 a barrel.

I thought this was for extreme times - ie: shortages, extreme terrorist attacks,
embargos, pipeline bursts.

Not to tamper down the price. It's a bandaid which will fall off after a few washes.

In any case I will have weekly channel analysis for GOLD later in the day
X

Please wait for an agent to respond.
You are now chatting with 'OANDA'
OANDA: Thank you for choosing OANDA. How may I help you?
XTrade: Hello. I have opened a demo and will begin trading next week on it - But I have a problem and i need some direct answers
XTrade: I have been trading gold for 5 years and following the market for longer
XTrade: I live in the USA and I understand that my broker will no longer be offering spot XAU and XAG as of July xx
OANDA: Yes, that's correct.
XTrade: I "heard" that OANDA - "IS OFFERING" US clients the ability to trade spot GOLD but without leverage. IS THIS TRUE>>??
OANDA: Yes, that's correct.
XTrade: Really?!?! WOW - so all is not lost. OK so now for the Questions.
XTrade: ready?
XTrade: 1. Can Spot XAU/USD be traded in Micro lots ie: 1000 USD value expressed as .01 lots
OANDA: Yes, you can trade Micro Lots.
XTrade: 2. Could you give me the margin requirements for A) .01 micro lots ($1000) value
XTrade: B) 1 mini lot exp .10 lots or (10,000 U$D)
XTrade: and
OANDA: Since it is traded on a 1:1 leverage there is no Margin Requirement.
XTrade: C) 1.0 or one Standard Lot (exp. as $100,000 U$D value
XTrade: How can you trade if you have no margin?
XTrade: There has to be an amount taken out of my account to enter the trade
OANDA: Margin is 100% for XAU/USD
XTrade: Which is expressed as What In CASH USD?
XTrade: Lets try this a different way
XTrade: I have a 1000.00 (1k) USD account.
XTrade: I take a position - LONG .01 or 1000 USD XAU /USD
XTrade: do I need to have 1000 USD + to enter the trade?
XTrade: because it is one to one?
OANDA: Yes, that's correct.
OANDA: Yes.
XTrade: WOW. that is pretty bad
XTrade: Do you see this changing at any point?
XTrade: and
XTrade: what is the reason why they are ruining it for every US trader but overseas accounts can do whatever they want?
OANDA: As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, U.S.-based retail forex dealers such as OANDA are prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.
XTrade: Yes that I know but what is the REASON?
XTrade: It is not fair to US clients
XTrade: If you don't know I understand.
OANDA: It was designed to prevent the next financial crisis.
XTrade: Yeah right! De-leveraging a bunch of retail traders - trading spot xau is really going to make a B I G difference! What a JOKE! What about de-leveraging - JPM - BofA - Citi - !!! LOL they are in their back pocket - it is so clear
XTrade: Well thank you for your assistance. I may have some more questions later....
OANDA: You're welcome
OANDA: Thank you for chatting. Good-bye.

you can trade with IBFX Australia if you're an "eligible US resident" for gold and silver, instead of IBFX USA. I've used IBFX for forever.

https://www.ibfx.com.au/signup/#

see the * on the right for US resident, I think you need a net worth >$5.000.000 so if you have got it it's easy peasy. But if you don't, maybe ask your dad a favor (house, car, deposit..which amount more than 5m. Strict!

Have a live chat with one of them - for more info.

Sale on Gold; $100/OZ discount.

http://i52.tinypic.com/295g0us.jpg

Well. I hate to say it but they got past my longs & inside the shorts this week. Hopefulluy they only found a skidmark.



I can't even see her never mind hear her sing.
Where's the Rotund Lady?
Still Long.
See. if you are playing 5 Min you can Risk 10P & hope for 30P.
If you are playing weekly you can risk 100P & hope for 1,000P

B

Does anyone else not think that rising yields from the end of QE2, coupled with rising interests rates in the EZ will shift asset allocation from Gold, a non-yielding asset, to other interest yielding assets?

Hmmmm, that means in the near future the europeans will have the same shitty transactioning, 1:1?

Maybe for those investors that feel more cosy at night knowing they have a piece of paper that says "DIVIDEND" at the end of each quarter.

Forgetting this recent road bump in the charts, what has payed yearly dividends religiously for the past ten years other than gold?

Name ONE stock?

Anyway you want dividend take some profit.

Hello XTrade,

I haven't read your posts, but from your response it would seem to me that you may be a buy-and-hold investor, and if your investing objectives follow that course of action then that is perfectly fine. However, I'm approaching this from a swing-trade approach rather than an investor standpoint, I don't want to have to wait decades for double and triple digit returns based on capital appreciation. I hope I'm not interpreting you incorrectly.

When I made reference to other interest yielding assets, stocks are not the only class I'm referring to, as others such as bonds, real estate development and carry trades exist. In an environment of rising interest rates the money that was pushed to riskier and unconventional speculative assets due to QE2 would be incentivized to return to the above more conventional assets. Gold is a very long market, and if enough speculaative players have had enough and divert to other assets, any rush to the exits may be overextended a-la-silver, especially with algorithmic players correlating markets to a great extent now - as commodities in general slide, there is a risk that Gold will slide too.

Furthermore, we have on our hands what is brewing to be a potential financial crisis in the Eurozone in July, and in the event of that happening, the participants who command financial clout on these markets are going to want high liquidity as money markets seize up, not Gold. That safe haven bid may very well be an additional siphon of value away from Gold.

Of course, if you ascribe to the notion that:

 

1. Gold is not in a fragile state, speculatively, despite being at record positionning levels,
2. You are an investor who will average down right to the bottom because your targets are in the scope of years and decades, (which is completely viable actually)
3. You ascribe to the notion that 'fiat is dead', and you are ahead of the 'sheeple' by converting all of your wealth to it,
4. You are emotionally tied to your position,

Then I may have just wasted my time.

I would like to hear others' opinion, preferably those who are trading XAU/USD and not investing in it.

Regards,
xXTrizzleXx

I'm an XAU/USD trader as well as investor, mostly the tendency of buying precious metals, stocks, and properties/lands.

I have mentioned in my previous post a while ago that gold is not really a prospective investment, it's a 'stable' investment. It once was used as a form of payment and in some part of the world this method is started to be used again.

By saying that I mean that it is not too relevant to physical gold buyers whether the price is going down by $50-$100, they can always be reassured that the price won't just fall to worthless overnight (Zimbabwe / Indonesian Rupiah debacle?). But that price volatility will surely hurt our trading account. So I agree that traders shouldn't have the same views as investors.

In my properties investment (I buy cheap prospective lands/run-down old homes, either build something on it to resell/rent or just keep it to sell when the price bubbles) is the same. It's irrelevant to me if the price is to go down by 20 or 30 percent, I can just not sell it and WAIT. and while waiting, I can renovate the old house and rent it out for a year(s) contract. I never lost a cent investing on lands. Because no matter how the price fluctuates, I still have that amount of land to be turned into something, when the price goes down by 10% doesn't mean my 1000m land shrinks to 900m, u see what I mean? - thus land is a prospective investment for me.

While gold, it just sits there and do nothing but shines. However, I can't just divide my 1000m2 land into 1000 blocks of land as a form of payment. That's why I invest on gold too for future assurance and not putting all my hard work into one basket.

As a trader, I swing both direction. I'm still bullish for long term and I've the tendency to BUY. However, I try not to miss the golden moment to SELL.

If you want to make trading a great investment, you swing both ways. Otherwise just buy physical gold...and maybe trade USDJPY....

hello, this is my first post . Can anybody give me the name of broker who provides XAU/EUR, XAU/AUD, XAU/GBP pairs? I need a broker who also supports e-currency like moneybookers/neteller etc. Please?

Democrats won't be happy until they control every single aspect of our lives.

Simply put. I trade XAU USD - When investing I buy the real thing. Bars - Coins - Silver Gold and I hoard copper pennies.

So I hope that answers your question.

To me it's not worth the leverage, That would mean to trade 100k standard.
u NEED over 100k in margin just for that one position.

I prefer longer term trades, yes, but I also do day trade when the market is choppy and I will scalp if it is really, really slow.

Hope this answers your q's.

I am better off talking to family overseas and having them open up an acct for me and avoiding all the bs...

Well what about HomeLand inSecurity? That wasn't their doing.

Follow the money, except when it is the too big to fail banks or corporations parking profits overseas.

BTW I ain't no Dem.

i DONT believe THIS!

I downloaded a Currenex demo from my broker and now my LIVE ACCOUNT has been somehow WIPED off my system.

It makes NO sense at all.

Along with it my weekly channel and ALL MY CHARTS!!!!

Thank to myself I keep three running demos and a second live account with similar charts, BUT - I think I just lost everything.... Going to chat with them now.

Analysis before the market opens.

This is going to be quick,

We are below the midpoint of the channel and closed at five or so week lows on friday = bearish close.

Now, we have seen several times after the record highs and the other attempts the roller coaster ride of HIGH, then correction of appx 75 TO 115 usd.

On the last attempt at high appx ending at 1550xx. we have started correction along with the beginning of the slow summer and the release of "strategic oil"
commods took a hit recently.

Now- as of yet we have only corrected appx 60 bucks so far, crossing the midpoint. Thus, before a decent upswing, we may see (if history repeats itself) another 60 or so USD shed from the price bringing it closer to the channel bottom, and completing the mini bear cycle. Shedding some and allowing new money to enter at a lower price...

Let's see how the week goes. Quests. commnts, etc let me know.
X

Examples of prior corrections circled in green.

dn see down correction just yet...

or...maybe it will shoot UP first then DOWN DOWN DOWN...It's still July.

It happens all the time with transition from demo to live. the best you can do is to save as .csv after your analysis. Or print screen!

did u lose ur money??!

No I am live already. I think what they did was adjust the US systems, to uninstall XAU on the demo the next time opened.

I use demos to test strats and for charting.