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

iam looking to go long 1724 and 1707. anything below that could be a short/.....

we could be looking foe an upmove here fellas....

i have plunged in and taken a long at 1719. may regret this, but ......

http://www.zerohedge.com/news/cme-cu...copper-margins
http://www.cmegroup.com/tools-inform...hadv12-059.pdf
marjin up--down ?

Well same here .
I've taken some new positions @ 1718.5, I've still got my previous positions @ 1726, stop loss is @ 1699. All together my average position is @ 1721

Lets see what happens.

Greek Finance Minister Evangelos Venizelos said his euro- area counterparts declined to approve a 130 billion-euro ($172 billion) aid package for Greece yesterday at an emergency meeting because the government fell short of austerity demands. Another extraordinary assembly of the ministers was set for Feb. 15. Greek lawmakers will vote on measures to cut spending in two steps starting this weekend, Pasok socialist party spokesman Christos Protopapas told reporters yesterday.
“Investors are still keen to add some gold to their portfolios as a safety net, so we’re going to see buyers enter whenever the price falls,” said Ye Yanwu, head of research at Everbright Futures Co. “Europe’s problems will in turn improve and worsen, and this will drive overall market sentiment.”
CME Group Inc. said yesterday initial margin requirements on gold futures will drop to $10,125 per contract from $11,475, effective after the close of business on Feb. 13. The maintenance margin will be lowered to $7,500 from $8,500.
Silver for immediate delivery fell 0.7 percent to $33.6575 an ounce. It’s the best-performing precious metal this year, with a gain of 21 percent, and ETP holdings at 17,667.4 tons are the highest since May, Bloomberg data show.

I see 1700 zone as a potential swing low and not because of being a BRN big round number. A couple of Fibs are there and I believe this is just a correction in a continuing uptrend.

iam short eu from 13236.

closed gold long at 1716. - 3 pips.

Has just reached 18DMa at 1712. Was down here on 07FEB, 06FEB, 27 and 30JAN too. Day range already $30. Cashing in on the rest of the shorts now at 1708

important 1-2-3 pattern top confirmed on the daily/4H chart with the break below 1709. Bears could aim for 1655.

Missed my short entry at 1727, so will continue to look for short signals till we don't bottom on daily timeframe.

Hi everyone.

What are the chances for this?

We know that the margins were DECREASED on gold and silver which will happen at COB monday. My hunch is that the players are pushing down the price, getting rid of their larger margin positions, only to buy it back in the next couple days at a discount. I don't know how institutional positions work. Does the margin stay the same with an existing position and the new margin only on new orders? can anyone confirm?

I think if this is the case, we'll be on the way to breaking 1800+ by end of next week. SunT looks to be right about the 1700 level although 1690 looks interesting to me also.

short @ 1716.5, stop = 1724, tgt = 1702, using 15min chart to execute

out at 1726 for loss, ok, i'm done for the day!

i had to take a loss as well....

I know that gold is a bullish market. It is assumed.

However, I have to remark something.

Each time I see a weekly chart I can't see a bullish market. I see a sideways and slighty bearish market.

Since September high, gold is printing lower lows and lower highs.

Right now there is a hidden bearish divergence in daily charts, (RSI and MACD).

Just compare Nov-08 and Feb-02. Price shows a lower high, indis show higher highs.

I know that we should be watching for price action signals and we can say that we are in an uptrend right now since swing high that led to lowest low is already broken.

But bias is supposed to be clear at first sight, and if I only have 5 seconds to look at a weekly chart and guess where price is headed to, I'd say "downwards".

As I understand a break of 1648.79 is needed to say that we are in a downtrend and price is not expected to get there.

Still, that is what I see.

Where is this information from?

And are you talking about on the COMEX? (Futures)

I doubt the FX dealers will be allowed to lower margin reqs.

Link if you have one please

Anyone uses MT4 for trading gold silver ?

Warren Buffett Trashes Gold, But What About Silver?

http://www.cmegroup.com/education/ma...ilver_224.html

That's interesting but, first of all it's coming from one of the richest men in the world who no doubt owns a sh!tload of Gold. If he said he doesn't I'd call him a liar.

I seem to remember him saying something to the affect of "Gold has been one of the best trades of 2011" BUT I COULD BE WRONG.

Why would it be crazy to choose the pile of Gold? Say it doubles in value then you would have 19.2 trillion and you could buy even more.

Furthermore, Gold is used as jewellery around the world. That alone is a huge application. There are a slew of other applications, yet due to the price it has become more of an investment material than an industrial metal.

Think of Gold as simply an alternative GLOBALLY accepted and recognized currency. There is not a place in the world someone would turn down Gold.

Now ask yourself this. He is attaching a monetary value to the world's gold supply. SO the question should be if you had all the gold in the world WOULD YOU CASH IT IN FOR A PILE OF DOLLARS???

What happens if Gold rises and the dollar continues to slump with no return for those holding it? You surely wouldn't be able to buy all that he claims.
Nor in real life would one be allowed to own all the US cropland, so that is an almost ridiculous analogy to make.

Next he is leaving out silver. Although silver does currently have far more industrial applications than Gold this is due to PRICE.

What no one is mentioning here is that if silver were to surpass 75 to $100 USD per ozt people, companies, users of silver for industry would NO DOUBT have to search for a cheaper alternative. Perhaps a sandwich of other metals. FURTHERMORE, Silver would become even closer to gold in the sense
of use as a worldwide currency and less as an industrial metal.

The US does not make copper pennies any more due to the price of one copper penny IN COPPER VALUE is MORE than the face value of one STINKING US PENNY. But no he'd rather have a pile of dollars? I don't quite think so.

For the past 5000 years plus Gold has been sought after and it likely will be long after the time of mine, yours and Mr. Buffet's expiration date. Whether he thinks it useless or not. I would like to know what his personal holdings are.....

Copper is an industrial metal to watch out for, on the brink of crossing over the 4 USD mark, yet no mention of that, which has even more widely used worldwide industrial apps than precious metal silver.

BTW pennies pre 82 (US ARE 90% CU) now they are cheaply made of zinc, with a shitty little dip of CU coating you could scratch through with a paperclip.

Platinum has many industrial apps and is cheaper than gold right now, no mention there.

Gold has demand otherwise the price would drop. Bottom line.