Gold 2013 ......a lack lustre year?

[malaguti]

In the short term 1790 has already been achieved, but 2190 has yet to be reached. But I'd like this to close past the 1775 mark first.
Let me get a chart from somewhere..

here we go..this is still retracing, and we could well see another test of support at 1530..but I think its just time before we get past the resistance line and then break through the 1790 barrier again.
This is a 1% so may take some time getting there..but it will

 

[Benj1981]

It's rare seeing the number 1800 on any print talking about gold these days. I reckon if we ever see those heights blind men with their dogs will be taking shorts. Wouldn't suprise me if aliens come and join the party too.

The dollar printing presses are winding down. The US growth is on track and even if it is insufficient to cover the budget defecit, any new funding will be complemented with tax hikes and expenditure cuts.

Anybody who doesn't see the sign on the wall needs to go to specsavers pronto...

Looking forward to re-visiting this post later in the year.

 

[isatrader]

Don't overlook palladium as it's in much better technical shape at the moment than Gold and Silver imo. I did a full write up on it yesterday on my thread here: http://www.trade2win.com/boards/technical-analysis/134944-stan-weinsteins-stage-analysis-101.html#post2057256 and went long yesterday at 715.74 in the cash CFD with my broker with a stop at 654 and initial target at 920. Which is 3.34 x ATR(200) risk to 11.15 x ATR(200) reward.

 

[Funky Trader]

Palladium has been good against the Pound and Dollar since November, but has been trading in a relatively narrow range for the past year and a half.

I'd be careful betting on a metal that has such highly correlated price to its industrial uses, when data from almost everywhere except the USA is showing general weakness in the economy. US figures are highly manipulated to look better than they actually are?

 

[isatrader]

Palladium has been good against the Pound and Dollar since November, but has been trading in a relatively narrow range for the past year and a half.

I'd be careful betting on a metal that has such highly correlated price to its industrial uses, when data from almost everywhere except the USA is showing general weakness in the economy. US figures are highly manipulated to look better than they actually are?

I only really focus on what the price action, volume and relative performance versus the market and it's peers is doing, and currently in palladium's case it's at the top of it's year and half consolidation range, and has broken the recent swing high on a large cumulative volume build as can be seen on the P&F chart I posted. Horizontal volume support is strongest between 690 and 710 - which it's currently above after making a continuation double top breakout. And it's relative performance has started to outperform both gold and silver over the last few months as well as the S&P 500. So from my point of view it looks to have potential to be able to breakout convincingly imo, with a decent risk reward ratio. The trade is open, so I'll follow my trade plan and see how it goes.

 

[Funky Trader]

It looks like it probably has some more to go, but already +20% or more from low in October.

 

[isatrader]

It looks like it probably has some more to go, but already +20% or more from low in October.

Big moves come from big bases imo. 20% is small in comparison to it's previous medium to long term moves in the last 15 years or so if you view a monthly chart. And it has a 5.73% average true range a week, so it's a volatile metal that's only thinly traded and has a +56% correlation with gold on a 200 day basis.

 

[Mr. Crabs]

http://www.trade2win.com/boards/commodities/135664-gold-2011-12-a-33.html#post2046344

carrying on from the above

the bulls, the money managers, are puking some today.....likely target for a bounce, i think, is the 1635 then 1618 fro a head fake level on a ratio.....but a larger swing down will find a lot of commercials buyers...silver has blown it's 1:1 ratio today, although, if a sustained lift in the SML/RUT in the US is likely to see a strong swing in demand for silver to out-play gold......

Gold has been accumulating amid liquidity being pumped into the markets, if the trend becomes bearish you can expect the opposite, gold looks like it's gearing up for another big run while the market appears to be preparing for another severe correction.

 

[Benj1981]

It's rare seeing the number 1800 on any print talking about gold these days. I reckon if we ever see those heights blind men with their dogs will be taking shorts. Wouldn't suprise me if aliens come and join the party too.

The dollar printing presses are winding down. The US growth is on track and even if it is insufficient to cover the budget defecit, any new funding will be complemented with tax hikes and expenditure cuts.

Anybody who doesn't see the sign on the wall needs to go to specsavers pronto...

New all time highs in gold by September 1st 2013.

 

[Mr. Crabs]

New all time highs in gold by September 1st 2013.

That's awfully soon... Definitely possible though.

 

[Funky Trader]

 

[Atilla]

New all time highs in gold by September 1st 2013.

Ok cheers Benj - my strategy continues to be, short the rises unless new highs are made. Last I remember was $19.20.

My prediction is also that we'll end 2013 below 1600.


Best regards,

 

[Benj1981]

Ok cheers Benj - my strategy continues to be, short the rises unless new highs are made. Last I remember was $19.20.

My prediction is also that we'll end 2013 below 1600.


Best regards,

Good trading to you.

 

[Pat494]

Anybody ever heard of thorium ?
It's the next big commodity if the scientists can harness it into a uranium substitute. The Chinese and others are working on this project as fast as they can money no object.

 

[Funky Trader]

Why would you short the rises, when Gold is in a massive bull market? Just look at the daily over the past 10 years or so. Pull backs have been relatively small in comparison to gains. More to be made going long on the dips?

 

[Atilla]

Why would you short the rises, when Gold is in a massive bull market? Just look at the daily over the past 10 years or so. Pull backs have been relatively small in comparison to gains. More to be made going long on the dips?

Each to their own... Not bullish on gold any more. Switching to equities as markets improve...

 

[malaguti]

Each to their own... Not bullish on gold any more. Switching to equities as markets improve...

Only now switching to equities

 

[Atilla]

Recent small falls in gold is nothing compared to the big sell off coming soon in couple of months time.

Beware of the rises!

 

[Pat494]

Recent small falls in gold is nothing compared to the big sell off coming soon in couple of months time.

Beware of the rises!

Why do you think a big sell off is due ?

Any dips in price is imho likely to be a small retrace.

 

[matty33]

It is only a matter of time before gold starts to rebound it almost always rallys with the s&p 500
And we have demand for platinum rocketing up and gold is very correlated with that metal.

Never Before Seen Option Techniques with little risk.