Silver & Gold

This is a discussion on Silver & Gold within the Commodities & Money Markets forums, part of the Markets category; "Ev'ryone wishes for silver and gold" - Burl Ives Gold was falling but now looks to be in consolidation. It ...

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Old Oct 8, 2016, 5:36pm   #1
Joined Sep 2016
Silver & Gold

"Ev'ryone wishes for silver and gold"
- Burl Ives

Gold was falling but now looks to be in consolidation. It is technically still in a down trend so I would look to sell if XAUUSD climbs above 1264.41.

I will perhaps be looking to sell silver over the next few hours if XAGUSD climbs above 17.58, or maybe not, since caution is the name of the game here in case the metal is forming a major bottom and getting ready to initiate a reversal to the north.
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Old Oct 9, 2016, 11:25am   #2
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Maybe a more interesting situation - Brent v's Gold?

Oil is up 13% in the last 2 weeks, Gold down 6%. Not something I've ever done but do you see opportunity to sell oil, buy gold?
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Old Oct 9, 2016, 11:57pm   #3
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Originally Posted by tomorton View Post
Maybe a more interesting situation - Brent v's Gold?

Oil is up 13% in the last 2 weeks, Gold down 6%. Not something I've ever done but do you see opportunity to sell oil, buy gold?
gold.pnggold_daily.png

This is what I see on my four-hour chart (left image), so there is no way I personally would buy gold right now. I have no idea what's going on with oil. Of course, I should because the various markets are all correlated to one degree or another, and I'm supposed to know in what way.

However, I admit that I don't and, because I feel like price is going to do what it's going to do, whether I am aware of the correlations or not, I'm perfectly satisfied with simply remaining acutely aware of how price is behaving (i.e., I'm too lazy and unmotivated to get off my big behind and educate myself as concerns the various relationships and dynamics existing between commodities, indices, currencies, options, etc.).

On the other, XAUUSD has blasted its way through support on my daily chart (right image) so it's certainly primed to turn north. However, that means nothing to me! I've learned not to act on what price might do, but only on what it is in the midst of doing right now, so before going long, I'd have to see confirmation in the lower time frames. If it is truly forming a Bona fide bottom, there should be plenty of time to get in on the reversal, given how much of a "correction" it needs.

(P.S. By the way, on this daily chart gold "looks" to be forming a MAJOR top.)

Last edited by Will Duxon; Oct 10, 2016 at 4:30am.
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Old Oct 25, 2016, 6:35am   #4
 
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Then silver, then gold; for the immediate future.
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Old Jan 9, 2017, 12:53am   #5
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Gold could reach the 1200 level, looks like it will continue retracing to the upside.
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Old Jan 25, 2017, 8:47am   #6
 
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Levels for today (25.01.2017)!

Priority to SELL! Target levels can work on the rebound with targets - priority sell. PS Here, more levels and positive )): https://vk.com/energymarketgroup!
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Old Jan 25, 2017, 7:55pm   #7
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Priority to SELL! Target levels can work on the rebound with targets - priority sell. PS Here, more levels and positive )): https://vk.com/energymarketgroup!
I would be shorting Gold anytime below $1200 and last 24hrs has been quite positive for a longer corrective move
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