Cable back to 5975
Cable Update (GBPUSD)
- #306,722
- Apr 6, 2012 7:57am Apr 6, 2012 7:57am
- Joined Aug 2010 | Status: Trader | 3,185 Posts
I don't trust any move - when you have profit...take it.
- #306,724
- Apr 6, 2012 7:58am Apr 6, 2012 7:58am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
yeah, i can see that mate.. cable is trending up beautifully..
no point to be happy for bulls until 5900 is goner....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #306,727
- Apr 6, 2012 8:01am Apr 6, 2012 8:01am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #306,730
- Apr 6, 2012 8:09am Apr 6, 2012 8:09am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
it will mate, it will...
Its a question of time..very soon those short will be concerned..i will short maybe at 1.65 - 1.7
all depends on if she slows down
- #306,731
- Apr 6, 2012 8:11am Apr 6, 2012 8:11am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Happy Easter everyone......especially you Pound Trader....hope the Easter Bunny is good to you!
Have a good weekend - I just watched the action this morning. It is sunny and warm here today - going to take the kids out to the park.
Cheers,
Faller.
u guys are developing a relationship here in FF
So this week Gold tanked as well. And assuming all spot gold is transacted in USD the the following should be true:
selling pressure pushes the price of gold down. If the market is a 0 sum game then for every sell there has to be a buyer. These buyers will need USD increasing the demand for the dollar. Inversely. If the price of Gold goes up. Buyers are coming into the market. 0 sum -- so there must be traders willing to sell to the buyers the buyers will ALSO need USD to transact gold increasing the demand for the USD.
If...
As for wholesale pricing and international trading, gold price is fixed in London twice a day (10.30 GMT & 15.00 GMT) in three currencies - USD, GBP and EUR at the offices of NM Rothschilds. The usual cabal is involved
.More info is here:
http://en.wikipedia.org/wiki/Gold_fixing
Gold (and other precious metals) is also used as a hedge against inflation. Therefore whenever central banks talk about QE (i-e money printing), the risk of inflation increases which mean the gold price goes up and vice versa. The last FOMC minutes indicated that there will be less chance of QE so gold price fell as you observed.
Here is a Bloomberg video clip that explains the relationship:
http://www.bloomberg.com/video/89179199/
Hope it helps.
- #306,733
- Apr 6, 2012 8:13am Apr 6, 2012 8:13am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #306,734
- Apr 6, 2012 8:15am Apr 6, 2012 8:15am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
You are wrong to assume that spot gold is transacted in USD only. All over the world, people buy gold (usually in the form of jewellery) in their own currencies.
As for wholesale pricing and international trading, gold price is fixed in London twice a day (10.30 GMT & 15.00 GMT) in three currencies - USD, GBP and EUR at the offices of NM Rothschilds. The usual cabal is involved
More info is here:
http://en.wikipedia.org/wiki/Gold_fixing
Gold (and other precious metals) is also used as a hedge against inflation. Therefore whenever...
Thank u ..nice post
- #306,735
- Apr 6, 2012 8:17am Apr 6, 2012 8:17am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
You are wrong to assume that spot gold is transacted in USD only. All over the world, people buy gold (usually in the form of jewellery) in their own currencies.
As for wholesale pricing and international trading, gold price is fixed in London twice a day (10.30 GMT & 15.00 GMT) in three currencies - USD, GBP and EUR at the offices of NM Rothschilds. The usual cabal is involved
More info is here:
http://en.wikipedia.org/wiki/Gold_fixing
Gold (and other precious metals) is also used as a hedge against inflation. Therefore...
Now what this means is that... US has a larger supply of Gold Bullion to sell out to people... This means that with a larger supply, the price of gold bullion to buy with the americans will be cheaper than buying gold bullions from the Germans... Hence why majority of the world trade gold with US....
Nice try in attempting to unhinge my theory but i just took a dump on you with bit of simple economics based on facts...
See the list of Gold Bullion Holders by country/organisation here...
http://en.wikipedia.org/wiki/Gold_re...eserve_stat-10
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #306,736
- Apr 6, 2012 8:18am Apr 6, 2012 8:18am
Its a question of time..very soon those short will be concerned..i will short maybe at 1.65 - 1.7
all depends on if she slows down
- #306,737
- Apr 6, 2012 8:18am Apr 6, 2012 8:18am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #306,740
- Apr 6, 2012 8:22am Apr 6, 2012 8:22am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea