Metals
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Metals


Commodities

Created August 20th, 2017 by myrrdin
Updated today by Sagal
 
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Metals

  #31 (permalink)
south africa
 
 
Posts: 170 since Dec 2018

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)
south africa
 
 
Posts: 170 since Dec 2018


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.



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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 10:37 PM.
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  #37 (permalink)
south africa
 
 
Posts: 170 since Dec 2018

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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  #38 (permalink)
Strasbourg, France
 
 
Posts: 80 since Mar 2019
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I have long term positions in gold, silver and platinum.
As well as short terms positions: 2 spreads put options in gold and silver
Therefore I closely watch these three plus palladium.
If Trump is not following through on taxing european cars then maybe platinum can have its moment.
It is clear that the volatility has increased recently and that the current level of price is around 900 after touching almost 740 couple of months ago. The spread with palladium is as well high and sooner or later will have to decrease. Therefore I will most probably increase soon my long term position on platinum.
https://www.home.saxo/insights/content-hub/articles/2019/04/04/platinum-challenges-downtrend-from-2011


Last edited by Sagal; April 17th, 2019 at 04:35 PM.
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  #39 (permalink)
Strasbourg, France
 
 
Posts: 80 since Mar 2019
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Finally I went to a long term long position on Gold Miners (Van Eck Gold Miners ETF). My Platinum ETF position started in 2016 is in red so I am careful there.
To go on with the discussion on the COT, this is an example for me of a previously bullish COT (from August 2018 to April 2019 that is turning neutral and maybe bearish (see next reply) On that I am out and I will come back if there is something new here...
Trades issues with China and slow down on automobiles purchases didn't play well for Pt recently but at the current level it could be the right moment (I don't think Pt can go lower than 760 but everything is possible...
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Last edited by Sagal; May 25th, 2019 at 05:45 AM.
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  #40 (permalink)
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