posted this on the copper thread - but though folks here might be interested. especially if you like longer term holds. --- time to get long copper - appears that the bottom is in on 4h. all the hallmarks of secondary rally to take it to new highs ...

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

time to get long copper - appears that the bottom is in on 4h. all the hallmarks of secondary rally to take it to new highs has been setup. i'm long and well under water but holding. all the signs are there. current price is 4.502

Copper for everyone

looks like to me that the reversal was on the cpi numbers. imo the dollar up metals down trend has started.

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

dollar looks like the top is in and well into the fade. same setups for all $ pairs more or less. gold order flow is off the charts long. too long perhaps. we'll see. i reckon it will reverse on fomoc. maybe.

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

got head faked out of my trades last night - no positions and nothing catching the eye this morning.

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

the metals are not buying the dollar move tonight (all euro) - bottoming out nowish. silver is the strongest. copper looks tasty.

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

not my style of trade to buy here on a vp ledge but .... it could just could do it. and it appears to be breaking through.... fingers crossed.

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

oooh is silver making its move? i thought it needed another move south before popping.

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

reckon dxy will gap close probably before the us open. still short gold but there's a time box for it.

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

dollar looks bid here and gold is somewhat bearish (i'm a cautious short). but wanted to mention silver - looks quit bid. could it hit 30.15 ish? i guess we'll know in about 3 hours. end of the current 4h candle.

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

i'll close on this url cb buying is less then jewelry purchases. this might have changed in the last two years. what is interesting to me is when did the smart money know that china stopped buying? bet it was more or less when they did. of course ...

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

well ok. china started buy in 2015 and that was the bottom in gold. conssidink? or correlation. url can't get russia. if china starts buying gold again next month will it start going up? me thinks not. they are clearly astute traders.

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

closed my gold short. probably will continue but i don't like to trade after the uk closes. dollar looks a little toppy. might start trending in a hour or two.

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

you refer to russia china? if you do that goes against what i have read. have to remember they have been buying for x years now. gold has only rallied in the last year or so. we can agree to not agree np.

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

just to add to the above - russia and china both produce loads of gold which in turn is bought by their cb's. this gold will probably never hit the west.

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

well neither do i. ;o) it was written somewhere and i noted it. buying from cb's doesn't effect price - never has. maybe one could argue stop buying has an effect. but that is not my experience.

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

daily chart - gold should break support today imo.

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

historically cb buying hasn't had much influence but it does add the neg mix on the metals. normally gold is seen as a risk off asset, which itself is strange given it is seen as original safe haven product. we see es dropping and we see all metals ...

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

"bingo" as they say.....

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

not expecting non-farm to positive for the metals. dollar positive imo. es might top out. maybe. edit - at least initially.

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