Sunday, January 20, 2008
Tuesday, December 25, 2007
Gold OTC derivatives
Total OTC derivatives are up from ~414 trillion to ~516 trillion for notional amounts outstanding (+24.6%) and up from 9.682 trillion to 11.140 trillion at gross market values (+15%).
Gold OTC derivatives are actually down from 0.640 trillion to 0.426 trillion for notional amounts outstanding (-33.4%) and from 56 billion to 47 billion at gross market values (-16%).
Gold OTC derivatives are still just a tiny part of total OTC derivatives (less then 0.1% for notional value and a~0.42% at gross market values)
The decline of gold OTC derivatives is probably a direct result of:
1) De-Hedging by gold producers.
2) Market participants move their business from OTC derivatives into more liquid, transparent and regulated markets such as COMEX (GC) and CBOT (ZG).
You can see the BIS OTC derivatives report here
Gold OTC derivatives are actually down from 0.640 trillion to 0.426 trillion for notional amounts outstanding (-33.4%) and from 56 billion to 47 billion at gross market values (-16%).
Gold OTC derivatives are still just a tiny part of total OTC derivatives (less then 0.1% for notional value and a~0.42% at gross market values)
The decline of gold OTC derivatives is probably a direct result of:
1) De-Hedging by gold producers.
2) Market participants move their business from OTC derivatives into more liquid, transparent and regulated markets such as COMEX (GC) and CBOT (ZG).
You can see the BIS OTC derivatives report here
Monday, November 12, 2007
XAUUSD, XAGUSD Charts
Significant corrections are taking place for both gold and silver. So far this is the sharpest drop seen since the mid august bottom. Each Fib line is currently a possible downside target.
Personally, I observe that at the moment some other markets offer superior short term trading opportunities.
Silver (Spot price) 8 hours chart
Gold (Spot price) 8 hours chart
Personally, I observe that at the moment some other markets offer superior short term trading opportunities.
Silver (Spot price) 8 hours chart
Gold (Spot price) 8 hours chart
Sunday, October 28, 2007
GCZ7 Chart (Comex Gold)
Dear readers,
The trend is simply (still) up until it isn't. The move is extended and as the price keeps climbing the risk for a sharp sell off is also increasing. But for now after a modest ~25$ correction gold quickly recovered and made a new high. The trend (since August) support is currently coming at ~758$ . From an Elliott wave perspective (according to my count and understanding )support is at 749$ & 726.5$. Trend resistance at 803$ and climbing. More resistance at round numbers, contract highs , all times highs and Fibonacci targets.
thats all for now...
GCZ7 8 hours linear chart.
The trend is simply (still) up until it isn't. The move is extended and as the price keeps climbing the risk for a sharp sell off is also increasing. But for now after a modest ~25$ correction gold quickly recovered and made a new high. The trend (since August) support is currently coming at ~758$ . From an Elliott wave perspective (according to my count and understanding )support is at 749$ & 726.5$. Trend resistance at 803$ and climbing. More resistance at round numbers, contract highs , all times highs and Fibonacci targets.
thats all for now...
GCZ7 8 hours linear chart.
Thursday, October 18, 2007
Gold Yen
Gold Yen indicates some kind of top (short or mid term) is around here so take note and be conservative with bearish USD speculation.
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