Gold so volatile

Trading Discussion
1

with leverage gold becoming increasingly difficult to trade during london -usa

2

Trading gold at this time is trading on news and rumour. Good only for those with a high risk tolerance.

3

yes interesting usually stock indices negative correlation with gold, but as we know nothing black and white in this climate, as both was a big sell off on Thursday but as the indices tried to rally on Friday gold continued to fall

4

That’s a thing with gold - in times of transition from risk-on to risk-off, either everyone’s buying or everyone’s selling - but in “normal” times, nobody’s interested.

5

Times are certainly strange. My broker reports 67% of their clients’ gold positions are long against only 45% on the Dow. Which seems a measured response, not a panic, not surprising.

However, 86% of trades on the Australian 200 are long. That seems optimistic.

6

I think long on any of the indices is optimistic with such global uncertainty ive been both long and short over the last fews weeks on indices, but about 85 % of my trades been short and my big winners been short.I would not go long on gold long term either ,they be selling gold for the spurts( if ever) on the indices

7

Where do you find this information? I am very interested in what my broker reports for positions but have no idea where to look…

And if somebody can explain why the hell this site always quotes a different reply to the one I click on, I’d really appreciate it

8

what information sir

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I clicked reply to tommor and it quotes you, this website constantly does this to me. I wonder if this one will do it too?

edit: it didn’t

10

no problem

11

it interesting how accurate their figures are on the brokers platforms

12

FYI, I posted some quotes yesterday that explain why gold isn’t going up despite this being an off risk market.

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yes this was stated on Friday , things can change dramatically anyhow

14

I’m pretty sure that gold was ‘taken down’ by the bullion banks and swap dealers.

This is playing out almost the same as every other panic when gold first catches a bid.

Because most commercials are short paper contracts of gold they do not want to lose control in a run away market.

I have seen this play out for 15 yrs.

They wait for overbought conditions, collude to pile on shorts at the same time.

Every gold bug out there knows the shenanigans in the futures market - so if you want to trade gold successfully you need to follow the COTs.

15

thanks for your feedback

16

its near significant support levels

17

When I open a chart on my broker’s platform, there is a small bar at the top centre: it is red at the left and blue at the right, the dividing point slides about between different charts. Hovering the mouse over the bar graphic reveals the % of this broker’s clients with open positions in that market who are long or short.

Other sources offer this on public websites - Google sentiment indicator or look at dailyfx.com

18

I’m not in the habit of giving predictions - but as I’ve made some very lucky calls on gold recently I’ll take the risk.

Gold is going to grind lower for the rest of summer regardless of any horizontal lines on charts. It certainly ain’t going to do much after the epic collapse just seen.

You can only expect a serious bounce when the dealers have gone net long or serious reduced their shorts.

Gold usually tops in May but I think we have had it for this year.

Come August we might see a bottom when Indian wedding season begins.

From there who knows - but this year is an election year and there will be every attempt to push up the stock market for November so gold might respond badly to that.

Physical gold may be a safe haven but the paper price played on the COMEX is not, people need to remember that before wondering why it isn’t acting like it is supposed to.

Finally when all of us here in the baby pips forum have stopped trading gold it will hit a bottom.

Of course you can always short - which I think is preferable for the next few months.

And also I could be wrong

19

im sure you right but is nt this an exceptional year ?

20

Note to self; Don’t go clicking random things to try and find this information. I ended up closing my open trades and opening about 5 in the wrong direction. Closed them all straight away, so no big loss, but my win rate has taken a hit :frowning:

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