Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
SunTrader
-
Content Count
1015 -
Joined
-
Last visited
Posts posted by SunTrader
-
-
Did you forget to click send hoooooours ago.
London was closed long before 2pm EDT, and New York was for the most too.
Remember, its Friday.
-
"With gold prices under pressure, Lucas said in the short-term the yellow metal could end up testing lows around $1,320; in the longer term, he said prices could fall back to $1,300 before physical buyers come back in."
Been there, done that.
Russia kicked the Crimea out of the Ukraine and Gold went .... down,
Read on Reuters this morning Gold slides further as Dollar firms on positive U.S. data.
Dollar then loses all of its earlier gain and is now unchanged, but Gold is still .... down.
The red-headed step child for well over a year now. But perma-bulls still believe.
-
Gold - "I've fallen and can't get up".
$2000 is going to have to wait another day ... or week ... or month ... or year ... or
-
Ukraine, FOMC To Dominate Gold Market Direction; Next Stop $1,400?.........
In the Kitco News Gold Survey, out of 33 participants, 25 responded this week. Twenty-one see prices up, while two see prices down and two see prices trading sideways or neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.
When too many are leaning one way the market has a habit of going the other way.
-
Agree 1330 is support, on a daily basis. But even though Friday's volume was the most in over a month and it was a down close, it came back from being below 1330 and closed up for the week too, Bulls should be ok - for now.
Above average volume might be funds rolling into next contract also.
On a weekly basis I see support as 1265, but not as bullish as daily shows.
-
Next, someone will be accused of trying to swap the Brooklyn Bridge for a few gold coins and ingots.
-
Is the London Fix fixed?
Russ Norman/Futures Magazine
It is with a growing sense of disbelief that one reads ongoing stories about the supposed rigging of the London gold fix. The questions center on the following:
Why are there price spikes during the afternoon fix and not the morning fix?
The answer is because the p.m. fix is when both London and New York are both open and as a buyer or seller you have a greater chance of getting a better price when liquidity is optimal. You would not for example get a good price when market participants are absent. If you have a big position to put on (or take off), you trade when most others are available to take the other side of your trade.
Why are there large price moves during the time of the fixing?
The answer is the fix is a price discovery process and as such large buying and selling orders collide here - large moves are therefore to be expected. In fact, the mere fact that it does move confirms some differences in opinion over fair value between the clients dealing in the fix - actually it supports the notion of the integrity of the process.
Why is the move often down and not up?
The answer is that the fix is used by official institutions (like central banks) and many major miners who all require an "objective" and published price because they need to more accountable than say a proprietary trader. The spot price for example is neither objective nor published. Selling by miners in size every day and invariably outweighs any official buying which is typically large but infrequent. Hedging or financing for the miners have will often link their financial arrangements to the gold fix.
Why is the fix done on a private call amongst members?
The answer is that it's not private, it is an open call. Clients dealing on the fix can and do change their orders - or indeed cancel them during the process. This is fundamental and fixing members will not know their own client orders in advance of the fixing process - let alone client’s orders done through other fixing members.
If the London gold dealers had consistently shorted gold as maintained then they would have incurred losses of such a colossal scale to render the economic crisis a sideshow in comparison (gold has rallied six-fold over the last decade). In short, the desks would have been closed down 10 years ago.
The reports conclude that the process is "open to manipulation", which has been taken up by the wider media to presume with certainty that it has. You could add that any deal on the floor of any exchange or where there is a human element has precisely the same weakness. To presume guilt is something altogether different. We do seem to live in a world where rumor carries more weight than fact or any real endeavor to understand how things operate.
If vested interest is the key issue here then one wonders about the motivation of the report author who stands to benefit directly and personally from these allegations. Bloomberg - shame on you also for a lack of journalistic discretion and judgment ... and a failure to ask the right questions.
Ross Norman is owner and chief executive officer of the London-based gold broker Sharps Pixley Ltd.
-
Russia invading Ukraine can't even get the Gold bulls very excited.
That should tell anyone thinking of buying how weak sentiment actually is presently
It did wonders for whoever was short MICEX though.
-
Another point about that article:
"The financial markets have not run according to the script so far this year. Equities were meant to power forward as the global economy recovered, bonds would tank as central banks stopped printing money, and gold would go back to being the “barbarous relic:"
Guess he didn't read this or look at his own charts:
Panic Proves Fleeting in February as Stocks, Bonds Rise
For all the talk of a crisis at the start of the month, February ended up being the best period for global markets since July.
Stocks, bonds and commodities rose together in February for the first time in seven months, reversing January’s losses in equities and raw materials.
.........
-
If you were following along you would know.
-
"Whichever it is, gold had been more often right than wrong in the past — and it would be foolish to ignore it now."
Uhhh was it right or wrong last year?
"Gold has a long and impressive record of warning of trouble ahead in the global economy. It has usually been right in the past — ......"
Usually right is impressive to this permabull? Wow!
That is a good article for seeing yet again how the long only crowd thinks.
-
Which ever permabull wrote that they forgot one word.
The bear market rally since .....
-
The Dollar has been range bound between 79 and 81 since October.
And further back to this time last year range bound between 79 and 85.
Nothing to get excited about.
-
Global economy is showing signs (for many years now actually) of ...... excess capacity.
Which will keep a lid on inflation.
Gold might get to 1400, 1500 and even into the 1600's in the next year or so.
But unless there is another global financial meltdown soon it probably won't see new all time highs for years and years more.
What is more likely though is for it to move back down towards the 1000 (or lower) level.
-
What is that supposed to be in referenced to?
-
.... Unless the price of gold rallies to $5000, the USD is very close to bankruptcy and loss of reserve status.
If the U.S. needed $5000 gold it would happen ................. yesterday.
Until someone else has a bigger military ain't nothing the gold bugs can do to make it go higher unless the Fed lets it.
:doh:
Now having said this I realize at one time the Mongols, the Italians and the British and many others had the biggest militaries of their day.
One day we will be surpassed. Hasn't happen yet though.
-
Not a good idea to short into a drop.
The opposite, shorting an up move, is likely more successful but of course harder.
-
Ahh let the wiz have his fun.
Seems to think trading is about "knowing".
-
Here is an interesting article for commentregards
bobc
I couldn't do a copy/paste to reference the last part from page two about CPI, but in regards to that I read this earlier today:
"With the U.S. economy relying less on oil and gas imports than at any time in two decades, energy expenses for Americans have fallen and cut into inflation more than any other living cost in the past year, according to data compiled by the Labor Department. Economists say consumer prices will rise less than 2% for a second straight year in 2014, the first time that’s happened during an expansion in a half-century."
So I'd say, for the U.S. at least, low inflation means low interest rates but strong dollar - especially because of improved balance of payments and increased tax revenues for the feds.
And therefore lower gold.
-
I think the price may go south (large swing) in next two weeks, but before that it has to reach 1260-1268, to satisfy the technical pre-requirements. Large selling order is accumulating around 1268. If 1275 breaks, then it will head to 1300.And how do you determine that?
And if so then why would it break 1275 if there is a large selling order below it?
I see 1260-1270 being a strong resistance zone after previously being support but nothing special about 1275.
And 1300 other than being a BRN mean nothing technically also.
-
True.
But new Fed chiefs don't, initially at least, radically depart from their predecessor's direction.
They make their over time.
This isn't that complicated.
-
Ain't gonna happen.
More of the same is in order.
-
Full moon tomorrow 4:52am and at maximum apogee for the year a couple of hours before at 1:54am
-
Hi SunTraderAnd I did see this, but after the last three lines of my attachment,and not one person offered support,what would you do? Would you carry on posting on TL
bob
PS mitsubishi sent me a PM
I talk to Silver by email
But my friend Patuca is gone
Oh sorry to see this, for the first time, totally unjustified (IMO) rant leveled in your direction.
And actually if anyone has been known to throw's a child's tantrum around here it is Steve Matrix. But the lest said about him the better.
I don't blame you for being a stranger here but I'd just ignore the idiots. I've had to do the same over on f...x factory.
Meanwhile yes I do know bonds and their yields are inversely related. But I have read conflicting opinions lately about whether or not rising yields would be bullish for Gold this time. I know historically they have. Wish I kept a link from one of the story.
Gold Bullish or Bearish
in Market News & Analysis
Posted
They are 0 for 2 so far. Next week then should be down.