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Gold, Discussion
flower
post Posted: Aug 26 2014, 02:00 PM
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USD1250 looks a possibility tonight US time, remembering tonight is COMEX option expiry time, that would be the ideal end to this very long correction period setting us up for a glorious September bull run---IMHO wacko.gif
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cooderman
post Posted: Aug 25 2014, 12:35 PM
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In Reply To: cooderman's post @ Aug 25 2014, 08:48 AM

Technical Glitch says my Broker.......OHLC will be corrected at some stage

no volume and big moves as chart shows.... back to normal now. I bet those who were short thought Xmas had arrived....not so

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cooderman
post Posted: Aug 25 2014, 08:48 AM
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pretty sure what just happened with xauusd is an anomaly and hopefully the Data provider will correct the chart at some stage

look at the size of the Spread...... looks even worse on the 1H time frame

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wren
post Posted: Aug 23 2014, 02:14 PM
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In Reply To: flower's post @ Aug 22 2014, 12:01 AM

flower,
You say…"-care to take a bet that very soon the situation will reverse? " This seems to be based on the chart which accompanies the comment.In that chart you have circled the 'oversold' Stochastic.As has been pointed out many times,being 'oversold' does not,in any way,suggest that a reversal upwards (in price) is imminent.Have a look at the very chart under discussion.When the Stoch. first reaches the 'oversold' zone a period of price weakness follows.Similarly,on your chart,check out what happens to the price when the Stoch. first reaches the 'overbought' level.

 
marketwinner
post Posted: Aug 23 2014, 10:11 AM
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In Reply To: flower's post @ Aug 22 2014, 12:01 AM

“Now there is more trouble of a different type,namely the rise of the USD.Last night the Dollar Index (DXY) broke out of its consolidation zone:further rises seem likely and that won't be good for Gold.”

I agree with above.

 
flower
post Posted: Aug 22 2014, 12:01 AM
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In Reply To: wren's post @ Aug 21 2014, 11:39 PM

Gold is 'meant' to respond to Geopolitical tensions.There are,and have been plenty of those around of late yet the yellow metal slumbers on.
It does, but a convoy in Iraq and the shelling in the Gaza Strip are International tensions and as such are not big enough to increase the POG in USD---a nuclear threat or a sign that WW3 was imminent certainly would lift the POG in spades, as would a collapsing USD
Index.

Most gold buffs have been waiting for weeks for this which should be the final support test before the POG starts it's usual NH summer rise, this year instead of a summer rise it may well be a NH autumn one, but what are a few weeks to a true believer?


Now there is more trouble of a different type,namely the rise of the USD.Last night the Dollar Index (DXY) broke out of its consolidation zone:further rises seem likely and that won't be good for Gold.
Correct, right now spot is down USD15 and the USD Index flat--care to take a bet that very soon the situation will reverse?
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wren
post Posted: Aug 21 2014, 11:39 PM
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Gold is 'meant' to respond to Geopolitical tensions.There are,and have been plenty of those around of late yet the yellow metal slumbers on.Now there is more trouble of a different type,namely the rise of the USD.Last night the Dollar Index (DXY) broke out of its consolidation zone:further rises seem likely and that won't be good for Gold.

 
flower
post Posted: Aug 7 2014, 12:28 PM
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In Reply To: flower's post @ Aug 3 2014, 07:42 PM

USD1281 may well have been the actual bottom for this move, however in general war chatter POG rises rarely hold, and unless Russia really does something stupid, this rise may not hold, and in reality the POG needs to rise over USD1345 to really set things on fire, that may well happen later on as inflation takes hold, but for now the balance of probability is that the POG will test support once again, before that final breakout----IMO.
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flower
post Posted: Aug 3 2014, 07:42 PM
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In Reply To: marketwinner's post @ Aug 3 2014, 01:16 PM

QUOTE
There were sell-off in stocks and other commodities such as energy and Agri based commodities such as oil, corn and soybeans. Exception is gold.


However for gold buffs it's been a fairly traumatic 7 days, question now is----was the bottom for this move hit on Friday as the US non farm payrolls were announced?
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marketwinner
post Posted: Aug 3 2014, 01:16 PM
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In Reply To: flower's post @ Aug 1 2014, 12:19 PM

There were sell-off in stocks and other commodities such as energy and Agri based commodities such as oil, corn and soybeans. Exception is gold.

 
 


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