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All Majors and Gold

  • #6,161
  • May 17, 2013 3:20pm May 17, 2013 3:20pm
Quoting gnomoneey
let's see if 1365 will be the closing price
closed 1355
  • #6,162
  • Edited 3:58pm May 17, 2013 3:34pm | Edited 3:58pm
I think I have understood the movement quite well now:

1) Customers deposit/buy physical gold with institutions
2) Institutions lease and leverage that gold to buy ETF's (not entirely legal but not illegal either as they are buying like for like and taking the risk premium themselves and not with customers)
3) World demand surges as of Q3 and Cyprus happens - customers demand delivery of physical back and the market demand puts pressure on institutions
4) Institutions figure they will default, put a massive short on ETF's and become buyers themselves at a lower price, pulling through Long Stops of other leveraged buyers in ETF. This results in cycling of bullion out of ETF back in institutions so they can meet redemption's
5) Total bullion driven out of ETF's is 179 tonnes in Q1 2013

Now that this is figured do you guys think this is fair market practice, or ethical?

I am not sure - on the one hand they haven't broken any rules. But on the other hand they seem to be still using customer money to make risky bets. Nothing seems to have changed much.

Edit: Correction: Some forms of coordinated/cooperative market shorting is illegal - not sure if there has been anything illegal done here though. I imagine customers depositing gold with institutions signed a contract similar to one I have with with a vault which states in simple words that the deposit can be used (without risking the deposit itself) i.e. using it for a margin account.
  • #6,163
  • May 17, 2013 4:01pm May 17, 2013 4:01pm
Quoting elekboy
{quote} closed 1355
I got 1359.50
Wooooohooooo or Boooooohooooo
  • #6,164
  • May 17, 2013 4:06pm May 17, 2013 4:06pm
Quoting gnomoneey
{quote} I got 1359.50
gnomoneey private menssage
  • #6,165
  • May 17, 2013 4:34pm May 17, 2013 4:34pm
Quoting gnomoneey
{quote} I got 1359.50
Nice close. Next week drop into the 1330's then bulls will bring this back to 1430's.....play the game, dont let the game play you.

Have a good weekend everyone, GREEN PIPS await next week, cheers!
"It is not enough to have a good mind; the main thing is to use it well"
  • #6,166
  • May 17, 2013 4:40pm May 17, 2013 4:40pm
at the beginning of the week I said that my ma's are screaming for more down move...
also nearing the end of the down move but we need to wait for a better signal for change of trend from bear to bull....

so 1336 for me is my next lower target
then 1305....if this is reached then 1433 then 85x area....big wish....let
if 1305 is reached and no bounce then down to about 126x-127x
if 126x don't hold down again to 1155 then 1122, 1085

these are all a big "if"
with all the noise I think they will hit lower than 1305
Wooooohooooo or Boooooohooooo
  • #6,167
  • May 17, 2013 4:42pm May 17, 2013 4:42pm
Quoting QuikFlipp
{quote} Nice close. Next week drop into the 1330's then bulls will bring this back to 1430's.....play the game, dont let the game play you. Have a good weekend everyone, GREEN PIPS await next week, cheers!
I have 1305 low then 143x.....
btw how did you come with those figures...
Wooooohooooo or Boooooohooooo
  • #6,168
  • May 17, 2013 4:46pm May 17, 2013 4:46pm
guys and gals read this ....very good info

http://www.dailyfx.com/forex/fundame...n_Live_By.html
Wooooohooooo or Boooooohooooo
  • #6,169
  • May 17, 2013 5:23pm May 17, 2013 5:23pm
Quoting gnomoneey
{quote} I have 1305 low then 143x..... btw how did you come with those figures...
Im looking at the daily chart, showing alot of candle whicks near the 1330 level. The daily will be oversold by this level, and a bounce will be in progress...of course this statement is also an "if" becuase the daily rsi may need to hit into the 20 range before the bulls come back to retake 1400-1470. But the 1330 would be a higher low from previous 1300 lows when looking at the weekly chart. So im betting thats the inflection zone.

Just my two bricks of gold
"It is not enough to have a good mind; the main thing is to use it well"
  • #6,170
  • May 17, 2013 5:27pm May 17, 2013 5:27pm
Quoting QuikFlipp
{quote} Im looking at the daily chart, showing alot of candle whicks near the 1330 level. The daily will be oversold by this level, and a bounce will be in progress...of course this statement is also an "if" becuase the daily rsi may need to hit into the 20 range before the bulls come back to retake 1400-1470. But the 1330 would be a higher low from previous 1300 lows when looking at the weekly chart. So im betting thats the inflection zone. Just my two bricks of gold
did you trade today...
Wooooohooooo or Boooooohooooo
  • #6,171
  • May 17, 2013 6:43pm May 17, 2013 6:43pm
Quoting gnomoneey
{quote} did you trade today...
I woke up late so I placed a trade around three, short at 1363. Have my SL and TP in place holding over weekend as the bottom will be put in probably on Wednesday, my best guess.
"It is not enough to have a good mind; the main thing is to use it well"
  • #6,172
  • May 18, 2013 6:34am May 18, 2013 6:34am
Good article: http://www.cnbc.com/id/100747714
"It is not enough to have a good mind; the main thing is to use it well"
  • #6,173
  • May 18, 2013 8:10am May 18, 2013 8:10am
Quoting QuikFlipp
Good article: http://www.cnbc.com/id/100747714
Haha.. Thank for sharing.. Hope we can see the price 1000 per oz !!!
  • #6,174
  • May 18, 2013 9:09am May 18, 2013 9:09am
Quoting gnomoneey
{quote} since a lot of noise saying that the gold will go to those level and bounce after I think they will take it lower to take out a lot of speculators to help yourselves take partial trade and add as its going higher....imo only
We are facing the classic bears trap and the capitulation requires lower prices.
  • #6,175
  • May 18, 2013 10:20am May 18, 2013 10:20am
Quoting elisab
{quote} We are facing the classic bears trap and the capitulation requires lower prices.
I agree. Need to test at minimum 1330.
"It is not enough to have a good mind; the main thing is to use it well"
  • #6,176
  • May 19, 2013 12:21pm May 19, 2013 12:21pm
XAUUSD
Daily Analysis From 2009

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD - Daily Analysis From 2009.JPG Size: 93 KB


H4

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD - H4 (19.05.2013).JPG Size: 108 KB
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #6,177
  • May 19, 2013 12:53pm May 19, 2013 12:53pm
Quoting QuikFlipp
{quote} I agree. Need to test at minimum 1330.
On May 22nd the minutes of the last FOMC will be published and Bernanke will talk about the state of the economy: it will be interesting to see the reaction of gold.
  • #6,178
  • May 19, 2013 4:10pm May 19, 2013 4:10pm
why is there a gap down on uj today's open seen on h1
closed Friday 103.171 now 102.834
any reason
Wooooohooooo or Boooooohooooo
  • #6,179
  • May 19, 2013 4:12pm May 19, 2013 4:12pm
Quoting gnomoneey
why is there a gap down on uj today's open seen on h1 closed Friday 103.171 now 102.834 any reason

is this why.....then we see 100 again?

DJ: Econ Minister Suggests Yen Strength Largely Corrected

From nikkei.com
http://www.forexfactory.com/resource...tory-quote.png
Many say the yen's excessive strength has been largely "corrected," and further weakness could be harmful, Japan's economy minister said Sunday, suggesting the Japanese government may be happy with the currency's current level. Economy minister Akira Amari, responding to a question on how far the yen should weaken, replied that while he couldn't comment himself, "it's being said that the correction of the strong yen is largely completed. If the yen keeps on weakening a lot more, it will have a negative impact on peoples' lives." Mr. Amari was speaking on a Sunday television talk ... (full story)
Wooooohooooo or Boooooohooooo
  • #6,180
  • May 19, 2013 4:16pm May 19, 2013 4:16pm
great opportunity to take a long for gap filling....with very tight sl....anyone trading
Wooooohooooo or Boooooohooooo
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