No Saturday trading for metals. Now how about opening MCX at 0630 in the morning?

[ashu1234]

Can you pls tell me why prices in gold, silver moved very quickly in evening means after 5:00 PM.
and how to recognize them in commodities
plz help me...
thanks

Post 5 p.m our currency i.e usdinr closes, so most of the effect of currency ceases to exist the time being, plus evening is the time for major data release and it is also the time of opening U.S market of gold silver, that's why there are good swings in the evening. How to recognize them???
Well there is no clear cut rules, to trade them comes from experience. I see you are new to commodities, trade slowly with proper rules of entry and exit you'll know all during the course of time. Ask here anything, we would be glad to help you.

 

[DSM]

Ashu - Thanks for the informative post. I prefer trading commodities once the news is out and hence volatility in expectation of data release is not there. Once the data is out, I prefer to take a position. I wonder if you hold a position prior to that.?

Post 5 p.m our currency i.e usdinr closes, so most of the effect of currency ceases to exist the time being, plus evening is the time for major data release and it is also the time of opening U.S market of gold silver, that's why there are good swings in the evening. How to recognize them???
Well there is no clear cut rules, to trade them comes from experience. I see you are new to commodities, trade slowly with proper rules of entry and exit you'll know all during the course of time. Ask here anything, we would be glad to help you.

 

[ashu1234]

Ashu - Thanks for the informative post. I prefer trading commodities once the news is out and hence volatility in expectation of data release is not there. Once the data is out, I prefer to take a position. I wonder if you hold a position prior to that.?

Best case as per me is not to hold position before news announcement, its always better to enter after data as you are doing, sometimes I do carry positions if the case to go with expected/unexpected data and the price point at which particular commodity is trading matches with price action. Some times there are instances where I can co-relate visually if the data which is to be announced is already factored in or not but its purely my personal instinct no hardcore rules-just the outcome of watching data releases of the past years and mind calculates automatically.