Don't underestimate the significance of the $1500 handle (relating to the CME GC front-month). I'm looking for gold to break this level tonight after Asia opens and get long gold again. As long as it clearly breaks, the risk-reward is there to make ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I find myself agreeing with you a lot! When the day comes and we disagree we should really hash it out because one of us might not be seeing something. Anyways, you are right, gold popped right back up after tanking on the rate statement. In ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Oh it was hawkish. The Fed downplays their hawkishness because of the role the wealth-effect plays in the economy. They've always walked on egg shells not to upset the domestic stock market. Powell said from the beginning it's about a mid-cycle ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Gold right now is enclosing on the all-important $1500 level (resistance). I don't think we'll see it break above there ahead of the Asian volume coming in a little later. But, remember tonight we have some important Chinese data and the BOJ ...

Gold RIGHT NOW

It's a big day Tekin! Check out my previews for these upcoming events: Advance GDP q/q - October Preview FOMC Meeting - October Preview I'd be surprised if GDP had any significant follow-through but the potential is there! The main event is FOMC and ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

We don't get many days like this. A lot going on today but the main event will be the FOMC meeting. While gold is trading in this narrow range go over and check out my latest preview. If you have any feedback I'd love to hear from you! FOMC Meeting ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

FOMC Meeting - October Preview FOMC Statement Federal Funds Rate FOMC Press Conference Fed Funds Rate Forecast The probability of a 25 basis point rate cut is almost 100%. image Rate Statement and Press Conference This is where the real focus is. ...

High Impact Events Trading... Gold & Copper

Definitely! Maybe not that specific state, but winter is making a grand entrance in the US with a pretty big cold front. There's a lot of talk about this rise continuing too, due to the colder weather. It's all about the weather for natty gas now! ...

Nat Gas anyone?

I agree with taking profits while you have them in this market. While WTI looksl ike it's heading lower, as timingchain said, it's still in a longer term upward trend. Just hit fresh session lows. image Trying to take what the market gives me. ...

WTI Crude Oil Trading

Gold prices are probably going to be driven by high impact calendar data for the remainder of the week. Wednesday and Friday are going to bring some very heavy volatility in gold and across asset classes. I posted a preview of Advance GDP: Advance ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Gold right now is looking bearish since breaking below the $1500 handle. Although, I'm expecting a somewhat narrow range (barring unexpected news headlines). image Tomorrow is when the fireworks begin. image

Gold RIGHT NOW

Advance GDP q/q - October Preview Advance GDP q/q Forecast The consensus forecast is 1.6%, although some are calling for 1.7%. The range of estimates per Bloomberg's survey of economists falls mostly within 1.4% to 1.8%. Economists polled by Reuters ...

High Impact Events Trading... Gold & Copper

Natural Gas is looking strong. That was a pretty nice gap at the open and it's continued higher since. Winter? image

Nat Gas anyone?

Risk calendar events this week that metals traders should be keeping their eye on: UK Parliament Brexit Vote US Advance GDP FOMC meeting China's manufacturing data US employment data US ISM Manufacturing PMI

High Impact Events Trading... Gold & Copper

Right now, there's barely any liquidity in gold. Australia will open in a few minutes, then Japan in an hour, and the big one SHFE in 2 more hours. Until then, best to remain patient. Look how low the volume is so far since the open: image Here's ...

Gold RIGHT NOW

Look at this 60M chart. There's some serious momentum here and oil prices seem like they want to continue the recent rally-mode. image It's tough to be a buyer at these levels, and we are getting back to where oil prices were before the drone ...

WTI Crude Oil Trading

I'm surprised we didn't see a gap in gold after the US-China Phase 1 agreements over the weekend. Prices fell slightly after the open: image We are finally in a week where we should be expecting some heavy volatility. The main event is FOMC. ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

WTI is dropping. The CME front month is testing $56. It tried to break and failed. If it breaks again and succeeds it could be headed lower towards $55.

WTI Crude Oil Trading

My pleasure and thanks for chiming in gunner! It ended up being a wild ride during these PMI releases. Here's a look at the price action during that time: Here's what gold did: image EUR/USD: image

High Impact Events Trading... Gold & Copper

Natural Gas storage data hit the CME front month pretty hard. image Even a broken clock is right two times a day! Seriously though. The writing is on the wall with Natural Gas. Supply is starting to contract as ...

Nat Gas anyone?