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I haven't paid that much attention to the silver contracts in the evening, but I have occassionally done what I think you are suggesting in gold. A couple of times I saw an unusually high ask on YG, because the market was thin, and placed an ask right below it for 3 contracts. When the short...

Didn't the ECB just announce a large sale of gold took place on June 23? 30 tons or so. If it wasn't their sale directly, maybe someone found out about it.

The margins were lower and that attracted traders. However, the volume is so low at this point CBOT is almost untradable for daytrades and scalps. They also have the mini golds.

You can get free real-time charts from netdania.com, or you can get a paper trading account from Oanda and they will give you realtime charts. I am sure there are plenty of other places but that is what I use.

There is plenty of liquidity in GC. I can't speak to xau/usd. They track each other very closely but GC seems to overshoot S/R more often. It seems that GC has been leading the past few weeks. I keep charts of both right next to each other when trading. I trade GC but use xau/usd for...

I did not make an argument, just stated a fact. But, I agree, if oil drops dramatically (and inflation does the same, along with the dollar rising)) the costs will go down as well as the price of gold. Predicting 600 gold is predicting $50 oil and the dollar at 84. IMO.

According to several of the major gold mining companies, the current cost to produce an ounce is about $700. Gonna be a bit hard for gold to trade $100 below the cost to produce it. http://www.bloomberg.com/apps/news?pid=20601082&sid=aEW2t8WM4JQs&refer=canada

Be careful. The volume on YG has fallen dramatically and stop running happens frequently. Charting is almost impossible because of the spikes. If you are going to trade YG, think about taking signals from GC and executing the trade with YG.

When trading anything longer than a scalp, I use spot charts for S/R and trendlines. I have found continuos charts to be practically useless and the price decay on GC makes it difficult for any S/R more than a few days old. I have also found that the futures have a tendency to over or...

Am I missing something or should the gold bulls be jumping on this bet? If someone were to take Sinclair's bet and then immediately buy 15 ZGZ11 contracts (currently trading at 980). Tying up about 45k. If gold goes up but does not reach 1650, you get 1 Million from Sinclair plus the...

Loan shark? Why not just buy YM or ES?

Exactly. Why tie up more money than is needed to achieve your objective. Might as well have the money working for you somewhere else.

It would be interesting to know the net worth of Elite members. Account size may not be a very good indicator of financial skills. For example, since I only trade futures I only keep 20k in my trading account. Whenever it reachs 30k, I withdraw 10k. The bulk of my wealth is invested in...

It took me about 6 months to get it back. During that time (and actually while I was losing money), I read quite a few books and spent a lot of time researching on the internet. I decided to focus on just a couple of markets and concentrate on just a few setups. I am by no means a big time...

I lost 20k in my first 6 months, 35k in my first year. I suppose many would have given up, but I got pissed. But more importantly, I got disciplined and I learned to not hold on to bad trades. I got my 35k back within the next 6 months. Since then I haven't had a negative month.

$300 is not an excessive fee to prepare a tax return for a trader. Trader returns are a pain in the ass and only one in a fifty accountants have any experience preparing them. I cringe when I see them. They take four times longer to prepare than an average tax return, I can only charge twice...

A double/triple top is, of course, a possibility, but, gold just broke out of a symetrical triangle - usually a continuation pattern. If the highs are taken out, gold should see $900. If support around 815/820 fails, I'll change my mind. Until then, the odds favor a move up, IMO. Here's...

Do you have anything besides rhetoric to support your analysis? I have been trading gold, quite successfully, for a while, and I see it a bit differently. I have lightened up my positions, as it is very likely that gold will pullback at least once before penetrating the highs, but new...

My vote is AHG.

Thanks for the reply. I'll check the charts out tonight.