Interesting....I have been thinking along these lines as well. Haven't seen anything mentioned baout this anywhere else. Do you think they will push for a reserve currency?
I just scanned it quickly, will try and read later. On first blush it seemed to over look Chinese official demand which is soaking up all domestic production plus some. If we are to assume that the Chinese want their currency to be in contention for reserve status at some point (granted way of in the distance for now) they will want to have gold reserves that rival the first world economies. The evidence appears to be in the process of doing this as stealthily as they can, they are not big on announcing official purchases until after the fact, they seem to hold back until they really have to announce the obvious then reserves leap by a healthy chunk.When you work out what they need to get to first world reserve standards it is a gobsmacking amount at todays prices, and it dwarfs private demand.
The 24 hour chart seems to be following the same script these past three days - down during NYMX to recover during Hong Kong and London.
Hi CanOz
Three questions:
1. Where do you source your charts?
2. Swinging between US$1,360.00 per ounce and US$1,402.00 per ounce, is this to tight a spread to trade? and
3. Is any one in the forum trading gold atm?
Currently US$1,388.00 per ounce.
Hi CanOz
Three questions:
1. Where do you source your charts?
2. Swinging between US$1,360.00 per ounce and US$1,402.00 per ounce, is this to tight a spread to trade? and
3. Is any one in the forum trading gold atm?
Currently US$1,388.00 per ounce.
Don't tell the bugs that apparently it only ever gets smashed during the light hours.
1. Futs broker.
2. Absolutely there is heaps in there. Each $0.10 move which is the minimum tick is worth $10 US. brokerage is depending on broker but usually less than 1 tick per round trip.
3. YES!
Time stops......... if I can without spewing it up..I reckon you can trade the electronic market no worries, what are you using for an initial stop20 ticks?
Time stops......... if I can without spewing it up..
Actually Oil is just as good at the mo..
Thanks for your response Mr Z
This is the aggregate demand chart from their first paper
View attachment 51838
View attachment 51838
I think you are saying that the counterbalance to their argument is that the demand distribution has/will change significantly since 2000-2010 in such a way that any reduction in the emerging Asian consumer will be soaked up elsewhere – ie China Central Bank. And also that emerging Asian consumer will stay robust in the face of economic head winds or perhaps a bit of both.
Value is being accepted higher right now, the GAP is the single biggest trading opportunity.
CanOz
Gold just took out the 1404.4 and we're heading for the gap, in a hurry as shorts cover...
Can't believe how long that took lol
<insert sexual frustration innuendo here>
Can't believe how long that took lol
<insert sexual frustration innuendo here>
Don't tell the bugs that apparently it only ever gets smashed during the light hours.
1. Futs broker.
2. Absolutely there is heaps in there. Each $0.10 move which is the minimum tick is worth $10 US. brokerage is depending on broker but usually less than 1 tick per round trip.
3. YES!
These are my charts using (CQG) data with NinjaTrader. The Market Profile tools are Rancho Dinero. I also subscribe to James Dalton's daily updates as my educational/training resource.
Value is being accepted higher right now, the GAP is the single biggest trading opportunity. Intra-day there are many opportunities but i cannot trade the US Products due to an unreliable data connection. So I've been analyzing the US markets for practice.
Gold is expensive to trade and very volatile at the moment....a bit like the HSI.
CanOz
The banter is entertaining.
Have been watching the gold action on the charts for many years now
BLah Blah
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