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by Ashraf Laidi
Posted: Feb 23, 2010 18:53
Comments: 201
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This thread was started in response to the Article:

Gold Catching Down with Euro

Gold's record high vs. euro was a key signal in ensuring bearishness in both the currency & the metal against the US dollar. Forex & commodity traders must watch.
 
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newman
Minnesota, United States
Posts: 6
14 years ago
Feb 24, 2010 0:13
NO DEAD CROSS YET, Ashraf. But close! At least on the continuous contract (which doesn't use the pit close): 50 SMA = 1107.36; 100 SMA = 1103.26. --NewMan
newman
Minnesota, United States
Posts: 6
14 years ago
Feb 24, 2010 0:02
THANKS for the wonderful gold analysis, Asraf! That's why I come here -- to understand gold in dollars.

Another data point pointing to gold going lower: the recent rally in spot gold price was NOT accompanied by an increase in the gold holdings of GLD. When that happens, gold rally is unsustainable, and price heads lower.

All the best,

NewMan
aviat72
New York , United States
Posted Anonymously
14 years ago
Feb 23, 2010 23:24
Ashraf:

When you mean net long/short are you referring to positions of Large Speculators or Commercials. Being a paper contract, the positions by all the different participants will net out.

Thank you for all the information you share.
Qiman
New Mexico , United States
Posted Anonymously
14 years ago
Feb 23, 2010 22:10
Thank you for this insightful analysis! I noticed the CAD weakness as well today. What is also interesting to me is that fundamentally the Australian economy is growing well and more rate hikes are expected. But looking at technicals, today's AUD/US sell-off below the 100-day average makes me wonder about a brief shorting opportunity versus the US. I will be watching this closely; what do you think Ashraf, might this also be just a pre-Bernanke speech blip?
coolshades
UK
Posts: 53
14 years ago
Feb 23, 2010 22:04
JasonFX,

i think you can get net longs/shorts from the COT report
pepe
london, UK
Posts: 15
14 years ago
Feb 23, 2010 20:47
Great analysis as usual Ashraf! Is the record high in gold 1,225 instead of 1,125 right? Also: how do you calculate the target on gold by March 6th?
pepe
london, UK
Posts: 15
14 years ago
Feb 23, 2010 20:47
Great analysis as usual Ashraf! Is the record high in gold 1,225 instead of 1,125 right? Also: how do you calculate the target on gold by March 6th?
JasonFX1
Toronto, Canada
Posts: 3
14 years ago
Feb 23, 2010 20:10
Ashraf, where do you get your net long/ net short info from? is that something from bloomberg or reuters? or would profressional charting packages like esignal or xtick have it as a volume function?

Thank you
TG
Singapore
Posts: 112
14 years ago
Feb 23, 2010 20:03
Thanks agn. Mr.Ashraf, did I "hear" you correct, you will be coming this way in April?
montmorency
Abingdon, UK
Posts: 610
14 years ago
Feb 23, 2010 19:36
Good and interesting article Ashraf; thanks.
I am still unclear as to why the payment of interest on reserves is significant.
Thanks if you can throw any further light on this.
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