Good time to short gold? what do you guys think? or does it closely follow oil? I decided to check out the chart because after hearing it said that gold hit a new 17 year high or something; I figure it might be one of those things to do the opposite of the news ... also whats the best future to trade gold on? do you like the mini gold or the 100oz gold? or the other one (never traded that one). Whats the best chart to use when you are charting gold out? The mini and the 100 oz has low volume so not the best. I was going to say; nice thing about the YG ie mini gold ie the data is free (cbot is cool thanks for helping the newb
if you are a newbie ... trade either YG as it is 1/3 size of ZG and comex gold or trade stocks that follow the XAU index and correlate to some degree with gold price main thing is do not overtrade and do not overleverage your account ... good luck
You don't short a bull market. The $500 mark is near, traders are looking at it and we most-probably gonna hit it sooner or later. You will get burned.... If you fancy getting short, wait first for a top pattern to build. Trends don't turn on a dime... usually. I am long on Gold and Silver (via derivative products with no expiration) for a very long time now. I haven't touched the positions for ages, and once a while I am getting paid cheers
From a technical standpoint, market looks bullish to me. A nice 1 year cup and handle formation. You may get a short-term retracement, but long-term, this market is still bullish. Charles
Katrina - $200 billion Rita - $200 billion Iraq - $100 billion Budget shortfall - $400 billion oil - $70 and it's only Wednesday... me stays with gold..............
hey me too ... I got a couple of morgan silver dollars in the drawer ... -I am long on Gold and Silver (via derivative products with no expiration) for a very long time now.-
I think you asked what is the best exchange to trade gold on. It is certainly not the CBOT, the real gold contract trades on comex which is owned by the NYMEX. I am of the opinion when something is making 17 year highs and has been exploding to the upside over the past week may not be the time to think about shorting.
for the last 2 days, there are times when you couldn't get quotes from the COMEX due to an exchange that can't seem to ever get it's act together. crude oil trading is a similar disaster........... with the e-CBOT, at least you can SEE the order book............