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Metals
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Created: by myrrdin Attachments:2

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Metals

  #31 (permalink)
Trading Apprentice
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I have had a GLD trade on since Dec 17 that I added to in the dip last year.

I am not selling but I also can't see adding to it any more at this point.

To put a gold trade on now long seems like chasing.

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  #32 (permalink)
Market Wizard
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centaurer View Post
I have had a GLD trade on since Dec 17 that I added to in the dip last year.

I am not selling but I also can't see adding to it any more at this point.

To put a gold trade on now long seems like chasing.

There is strong resistance around 1350. I agree that it does not make sense to add to a position at the current price level.

I also hold positions in Gold and Silver.

Best regards, Myrrdin

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  #33 (permalink)
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Nice. I wouldn't even mind a pull back to get just a little more but I am happy with my position. I am pretty much going to hold until the next downturn and rate cuts.


myrrdin View Post
There is strong resistance around 1350. I agree that it does not make sense to add to a position at the current price level.

I also hold positions in Gold and Silver.

Best regards, Myrrdin


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  #34 (permalink)
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myrrdin View Post
What makes you think copper is looking interesting ?



I just read through the most recent fundametal news - some of them are bearish, some bullish. But I do not see anything exciting.



What fundamental service do you use and how much is it? I am really interested on knowing if there is any particular service you use or can suggest.



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  #35 (permalink)
Market Wizard
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ElChacal View Post
What fundamental service do you use and how much is it? I am really interested on knowing if there is any particular service you use or can suggest.



Sent using the futures.io mobile app

Regarding Gold, I use the services of Dave Hightower and Robert Rethfeld.

There are several options to subscribe to information from Hightower, which you find on their homepage. I currently use their daily services, which I receive from my broker free of charge.

"Wellenreiter" by Robert Rethfeld is an excellent service in German language on international Stock Indices, Financials, Currencies, Metals, and Energies.

Best regards, Myrrdin

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  #36 (permalink)
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centaurer View Post
Nice. I wouldn't even mind a pull back to get just a little more but I am happy with my position. I am pretty much going to hold until the next downturn and rate cuts.

I would state that a steepening yield curve is bearish for gold but to me the big question is, is the yield curve steepening or will it continue to flatten?
I honestly don't know as I am still trying to grasp the whole bonds trade.


Last edited by ElChacal; February 5th, 2019 at 11:37 PM.
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  #37 (permalink)
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Fed Watch has a 25% chance of a rate cut by Jan 2020 and a 7% chance by September. Fed Funds think any further hike is gone. It is incredible when a month ago there was a 25% chance of a further hike. I heard Bill Gross explain that inverting yield curve is a function of the bond market pricing in future rate cuts.

I didn't get my last leg of my gold trade on but I am comfy with how I sit here if we start a cut.


ElChacal View Post
I would state that a steepening yield curve is bearish for gold but to me the big question is, is the yield curve steepening or will it continue to flatten?
I honestly don't know as I am still trying to grasp the whole bonds trade.


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