Gold Futures (GC) main discussion - futures io
futures io



Gold Futures (GC) main discussion


Discussion in Commodities

Updated
      Top Posters
    1. looks_one SMCJB with 19 posts (58 thanks)
    2. looks_two UC Trading with 6 posts (1 thanks)
    3. looks_3 Big Mike with 4 posts (23 thanks)
    4. looks_4 Salao with 4 posts (15 thanks)
      Best Posters
    1. looks_one suko with 6.7 thanks per post
    2. looks_two Big Mike with 5.8 thanks per post
    3. looks_3 Salao with 3.8 thanks per post
    4. looks_4 SMCJB with 3.1 thanks per post
    1. trending_up 10,578 views
    2. thumb_up 165 thanks given
    3. group 27 followers
    1. forum 60 posts
    2. attach_file 15 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Gold Futures (GC) main discussion

(login for full post details)
  #21 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, SI, Bitcoin & Ether
 
Posts: 4,557 since Dec 2013
Thanks: 3,883 given, 9,173 received

Margin rates for Gold going up effective April 14th.
Initial (Maintenance) Margin increases from 9185 (8350) to 10065 (9150)

https://www.cmegroup.com/notices/clearing/2020/04/Chadv20-153.html#pageNumber=1

Reply With Quote
The following 6 users say Thank You to SMCJB for this post:

Can you help answer these questions
from other members on futures io?
Historical Tick Data for E-mini Futures
The Elite Circle
Pinescript to EL conversion - ema cloud indicator
TradeStation
NT8 Batch load strategies from xml
NinjaTrader
Hey! Is there a way to change the date and symbol on a c …
EasyLanguage Programming
use of Ultimate Oscillator in NT8
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
12 thanks
Cycle Analysis... a way of looking at price action.
8 thanks
Want your NinjaTrader indicator created, free?
7 thanks
Basic Education for Beginner Trader
7 thanks
TST/OneUp/LeeLoo/Earn2Trade
4 thanks
 
(login for full post details)
  #22 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, SI, Bitcoin & Ether
 
Posts: 4,557 since Dec 2013
Thanks: 3,883 given, 9,173 received

And after last months 'Gold Delivery Rumors' we now have this...
Gold Market Update

Spot Month Position Limits to Increase for Gold Futures

Effective at the close of trading May 28, 2020 for the June 2020 contract month and beyond, spot month position limits will be increased for five gold futures and options contracts, going up from 3,000 to 6,000 futures contract equivalents.

In addition, the single and all-month accountability levels will be raised from 6,000 to 8,000 futures contract equivalents. Spot month limits and accountability levels in the April 2020 and May 2020 contract months will be unchanged. For the full text of this notice, please consult https://www.cmegroup.com.
I couldn't easily find the full notice on the website though

Reply With Quote
The following 5 users say Thank You to SMCJB for this post:
 
(login for full post details)
  #23 (permalink)
 Salao 
Legendary Market Wizard
Los Angeles CA
 
Experience: Beginner
Platform: TradeStation, SC
Broker: Tradestation, Edge Clear
Trading: Gold
 
Salao's Avatar
 
Posts: 1,040 since Jun 2017
Thanks: 8,538 given, 4,529 received




Pretty bullish leg up to near the high of the two-month trading range. It seems pretty tough to remain a gold bull after today's weak close. Seems likely there are sellers below the low of today, but it will be interesting if we get a rally over today's bar. The globexers made a brief go of it, but bears took over. Not sure why I'm posting, other than to dust off this ol' gold thread. ()

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to Salao for this post:
 
(login for full post details)
  #24 (permalink)
futurestradermark
Vancouver, BC Canada
 
 
Posts: 6 since Oct 2018
Thanks: 4 given, 4 received

I've heard rumours of gold hitting $3000 in the next year. Apparently several nations banks do not have enough on hand to back requests for people wanting to take physical possession of their gold.
Be interesting to see what happens.
In the short-term I'm bullish. Thinking $1900 in the next 4 months.

Mark

Reply With Quote
The following user says Thank You to futurestradermark for this post:
 
(login for full post details)
  #25 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, SI, Bitcoin & Ether
 
Posts: 4,557 since Dec 2013
Thanks: 3,883 given, 9,173 received

Fake Gold !!

https://asia.nikkei.com/Spotlight/Caixin/Mystery-of-2bn-of-loans-backed-by-fake-gold-in-China

More than a dozen Chinese financial institutions, mainly trust companies, loaned 20 billion yuan ($2.8 billion) over the past five years to Wuhan Kingold Jewelry Inc. with pure gold as collateral and insurance policies to cover any losses.

...

What could go wrong?

Well, plenty, as at least some of 83 tons of gold bars used as collateral turned out to be nothing but gilded copper.

Reply With Quote
The following 3 users say Thank You to SMCJB for this post:
 
(login for full post details)
  #26 (permalink)
 Schnook 
Legendary an average nobody
Munich, Germany
 
Experience: Advanced
Platform: Sierra Chart
Broker: Interactive Brokers
Trading: liquid products
 
Schnook's Avatar
 
Posts: 548 since Jul 2016
Thanks: 1,089 given, 1,830 received


SMCJB View Post
Fake Gold !!

https://asia.nikkei.com/Spotlight/Caixin/Mystery-of-2bn-of-loans-backed-by-fake-gold-in-China

More than a dozen Chinese financial institutions, mainly trust companies, loaned 20 billion yuan ($2.8 billion) over the past five years to Wuhan Kingold Jewelry Inc. with pure gold as collateral and insurance policies to cover any losses.

I feel like this story says more about the corrupt and fraud-ridden Chinese credit and banking system than it does about gold.

I often wonder if or when that massive Chinese debt pile will ever collapse. Reserves ain't what they used to be...

Reply With Quote
The following 2 users say Thank You to Schnook for this post:
 
(login for full post details)
  #27 (permalink)
 SMCJB 
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, SI, Bitcoin & Ether
 
Posts: 4,557 since Dec 2013
Thanks: 3,883 given, 9,173 received

Agree don't think it says anything about gold.

Reply With Quote
 
(login for full post details)
  #28 (permalink)
 UC Trading   is a Vendor
 
 
Posts: 21 since Apr 2020
Thanks: 2 given, 9 received

Hi everybody,

let's have a look at the gold market.. The analysis is based on the the weekly market profile in combination with the candle stick chart.

The past one and a half week, the gold market was moving in range with its border at levels around 1796.50 USD respectively 1817 USD. As a result, the market created an inside week illustrating uncertainty about the further price direction.

Candle Stick Chart Range


The market performed a strong long push on Friday and also the market profile shows larger participation and, consequently, interest in the upper range which may be an indicator for preferred trades on the long side.

Market Profile View


Nevertheless, both trade directions must be considered. Taking the long perspective (1), the price may break the upper range border with a first target at the previous’ weeks high. In contrast taking a short perspective (2), the market could illustrate weakness targeting the range low or even the previous’ week low. In both cases, the range borders illustrate interesting levels since large market participants are looking for liquidity which they find at those significant levels.

Let's see where it goes..

Reply With Quote
The following user says Thank You to UC Trading for this post:
 
(login for full post details)
  #29 (permalink)
 JonnyBoy 
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
Trading: ES
 
JonnyBoy's Avatar
 
Posts: 1,560 since Apr 2012
Thanks: 706 given, 3,799 received


UC Trading View Post
Hi everybody,

let's have a look at the gold market.. The analysis is based on the the weekly market profile in combination with the candle stick chart.

The past one and a half week, the gold market was moving in range with its border at levels around 1796.50 USD respectively 1817 USD. As a result, the market created an inside week illustrating uncertainty about the further price direction.

Candle Stick Chart Range


The market performed a strong long push on Friday and also the market profile shows larger participation and, consequently, interest in the upper range which may be an indicator for preferred trades on the long side.

Market Profile View


Nevertheless, both trade directions must be considered. Taking the long perspective (1), the price may break the upper range border with a first target at the previous’ weeks high. In contrast taking a short perspective (2), the market could illustrate weakness targeting the range low or even the previous’ week low. In both cases, the range borders illustrate interesting levels since large market participants are looking for liquidity which they find at those significant levels.

Let's see where it goes..

Gold certainly has support in the 1675-1700 zone which so far has held. IMO new historical highs lie ahead with the first step up to 1923 and the second to 2150. For Silver, it looks like the 12.50 downside target ended the long silver bear market. Next upside target is 25.00.

Just my musings.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Reply With Quote
 
(login for full post details)
  #30 (permalink)
 UC Trading   is a Vendor
 
 
Posts: 21 since Apr 2020
Thanks: 2 given, 9 received



UC Trading View Post
Hi everybody,

let's have a look at the gold market.. The analysis is based on the the weekly market profile in combination with the candle stick chart.

The past one and a half week, the gold market was moving in range with its border at levels around 1796.50 USD respectively 1817 USD. As a result, the market created an inside week illustrating uncertainty about the further price direction.

Candle Stick Chart Range


The market performed a strong long push on Friday and also the market profile shows larger participation and, consequently, interest in the upper range which may be an indicator for preferred trades on the long side.

Market Profile View


Nevertheless, both trade directions must be considered. Taking the long perspective (1), the price may break the upper range border with a first target at the previous’ weeks high. In contrast taking a short perspective (2), the market could illustrate weakness targeting the range low or even the previous’ week low. In both cases, the range borders illustrate interesting levels since large market participants are looking for liquidity which they find at those significant levels.

Let's see where it goes..

RECAP

Yesterday, the gold price moved back into its Thursday range during the Asia session. A buyer defended the range and pushed the market in the long direction reaching the first target at the weekly range (1) top. The market got very volatile with the US opening but maintained buyer strength where the range top now functioned as a support level confirming the preferred long direction.

Candle Stick Chart Range


Similarly, the market profile illustrates the situation in a broader perspective. The price reached the week’s top (3) and broke it but could not yet reach the second target level at previous’ week high (4)

Market Profile View

Reply With Quote


futures io Trading Community Traders Hideout Commodities > Gold Futures (GC) main discussion

« Meats | Metals »

Last Updated on April 3, 2022


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts