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Another Day, Another Record High For Gold
If one scours the newspapers, maybe, just maybe, one may find reference, in the page 13 fine print, that gold prices keep hitting fresh all time highs each and every day. The rumor now is that petrodollars have had their fill of EURs (which they have been buying instead of USDs) and are migrating to PMs. Another catalyst is the earlier announcement by Jean-Claude Trichet that the rate hike may not be the first in a series, confirming the vacillation by the European Central Bank. Until we see confirmation we will let this rumor be. One thing we are certain of: there are more buyers than sellers.
Gold touching a new all time high:
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Another day PM's go up, another day with reductions in CEF premium values.
I am a big investor in CEF...I can´t figure it out either...its not following gold or silver......By now the offer has been snapped up....at least by the last three days volumes....it should be jumping a dollar I think...
Patience.....patience....patience...
Offer was at 22.30 IIRC, it is now 22.65....dipped as low as 22.10 or so... I picked up 1000 at 22.12 on friday...
Offer was about 10 mm shares or ~5 days volume and was about 5% of market cap...Factoring out the nominal volume, the secondary is now almost fully distributed...
that's a USD 500 free lunch !
If I bought shares of CEF in 2011 for the first time (I did) when do I file the Form 8621 to make my QEF election?
+1
Someone smarter'n me will need to figure this one out.
The secondary offerings always compress the premium in the short term. Take advantage of the deal.
I think MathMan suicided himself.
Nah, he just registered under a different username. The account might have been dormant for a while, for this exact purpose.
I'm fairly sure he is the troll named Mark McGoldrick. Another ZH'er found this about him yesterday:
http://www.amw.com/fugitives/brief.cfm?id=77358
omg! I'll never take him seriously again. Nasty stuff!
Hey cutie.
Wanna come over to my place?
I've got lots of candy.
yeah, It won't be fun for you though.
Like bring a knife to a gun fight...
...but you won't have the gun.
A knife, in skilled hands, at less than 20' distance is usually a better weapon than a gun.
Don't believe me? Ask a cop.
HEY Dochen
Please check out my new site, we hired a blonde chick to "inteview" me (since not even CNBC will have me in as an expert anal-yst anymore)
Hey she's not that Erin babe from CNBC but she looks pretty good to me. I even pretend to have wires hooked on to me, even though the chick is right next to me.
http://www.kitco.com/ind/nadler/apr052011.html
You've been watching too many movies or don't know how to handle a pistol.
Una mujer con un cuchillo es muy peligrosa...
signed
Lorena Bobbit.
Ai, caramba!!
DoChen,
Only if your weapon is holstered.
A perp can gut you at 21', if your holstered.
Most LE shootings occur at 7' or less.
Most SWAT engagement distances are less than 125yds.
The 20' study is used as a legal defense to justify shootings of assailants who are armed with knives.
http://www.youtube.com/watch?v=fLyLGrbKokI
Where's major ratfuckedcorps? Is he watching in dismay as congress throws billions out the door in march to line the military industrial complexes pockets right before calling all the soliders and telling them there's no money.
There goes half of his reasons and justifications for being an asshole.
Indecent exposure , so he was taking a leak down some back ally and the police got him , or he mooned someone I mean really it could be anything !Or he ran up to a child in a brown overcoat and flashed them ,whatever
I find it unusual that his site allows folks to use real names in posts.
Where I come from that's a Boo Boo.
Not Kosher.
You mean I made a mistake using my real name here?
:)
DoChen,
If yo mama named you your handle, I would sue.(;
Let's see what happens "when" the daily RAID comes...
Got to believe another margin hike is imminent.
Yes those margin hikes are devastating!
Off topic, but how does one change their photo. I have deleted my old photo, and put in the new one, but the old one keeps coming back.
thanks
apply makeup.
Make sure it fits the proper size requirements, i.e. it's not too large of an image.
actually I think the daily raids have been missing the last few days......wierd
Where's Smailes?
Don't worry. That cunt will be along soon enough, with a drive-by cut-n-paste job saying "subprime is contained," "housing never loses value," "GOT TZOO???" or some other such nonsense, intimating that PMs are in a bubble.
i'm glad i bought silver at $37/ozt.
Yeah, me too -- at $6.
I have silver dollars that I paid $1 for....
I bought another monster box today at 40.28 CDN per oz.
....and four 5 '9' maples.
I just dumped 26K of paper,feels good.
$5 says the Smailes kid picks his nose and eats it...
No i don't
But, do make sure to ask if your troll does!
they're all hiding under Blythe's skirt at the moment
Hey Tyler - You've got a 1000% batting average. Everytime you post about new gold highs, the bitch kill the paper. Like fucking clockwork.
blythe watches us.....you're naive if you think otherwise. they really don't like zerohedge.
Ya think?
Not only Blythe watches... the squid too.
blythe watches us.....you're naive if you think otherwise. they really don't like zerohedge.
yeah they don't like ZH, like an elephant doesn't like a mosquito biting it on the ass
When very well known and respected economists like David Rosenberg mention publicly in their briefings that they read Zerohedge, you know there are a lot of people in positions much higher than you reading it as well.
"yeah they don't like ZH, like an elephant doesn't like a mosquito biting it on the ass"
You mean ZH'ers give 'em an itch somewhere they can't reach to scratch?
Bring enough mosquitoes and eventually the elephant will notice.
Here here! And it's about damned time!
She logs in as Math Man.......
the faster PM's go up, the sooner the end of the global fiat house of cards falls.
TOMOROW IS FUNDING ENDING DAY = FUEL FOR THE PRINTING PRESSES = FUEL FOR PM'S
one question I wanna ask gold diggers? What will you do with your savings when gold is at 2000 and USD is at 2.0 to EUro and you have to buy groceries/gas is USD which have skyrocketed off charts in nominal USD? Unless you go live in Peru and hope inflation has not eaten the prices there...your gold will not buy more food/gas in USA! its catch 22 in dollar ponzi zone!
Precious metals are a store of wealth...a hedge against inflation caused by criminal governments and their masters... not for making money.
No I disagree, under these conditions of negative real yields - money from the credit bubble will flow into Gold increasing your purchasing power.
The only mechanism to kill Gold now is to default on all term accounts that shadow the mortgage asset themselves.
The world is still producing wealth so therefore this energy has to flow somewhere.
The business of extracting wealth via interest is dying not the physical wealth.
Simple I'll flip the guy a 1 ounce eagle and buy the grocery store and another one for the gas station. Then I'll restrict all sales to morons like you.
but but but... I live in euro zone and my money is spread out in my business..it works! my RE...its does fine over here...not like Spain...and in pension schemes indexed on PM and bonds... Also I have two hundred candelabras in solid silver lying in the vault. But I'll leave that to my progeny. It's no credit on my part...just family heir-loom...like broom sticks...
pm's protect your money in the face of rising inflation falak
silver bought in 2003 has risen 600% +
so you can sell a bit, pay the spread and buy your Twinkies that rose 150% & feel good about the whole thing
"your gold will not buy more food/gas in USA! its catch 22 in dollar ponzi zone!"
Uh... not quite. The real question is, " What will those who did not allocate some dollars into PM's do to make up for their lost purchasing power?"
And the answer is not very startling: those who have lost purchasing power will make do with less, have a lower standard of living, have fewer options, etc.
Also, there is the distinct possibility that those holding PM's will gain purchasing power over a time span of dollar destruction.
I know I'm not too worried about having some PM's for a rainy day...if it's not for you, come up with your own strategy for dealing with inflation and fiat currency debasement. And good luck...
Yeah. Long term chart of commodities priced in gold. It's a no brainer, gold always outperforms food.
Merchants will be more than happy to set up a Tab for your Gold and Silver when the US Dollar attains zero value.
This is a typical stupid comment.
1. Sell some gold for USD and buy groceries - duh!
2. Find someone who will directly trade (probably a small locally owned business). This is not far-fetched. As am example I know someone who owns his own business and excepted 34 oz's of Silver + USDs as payment for a used car. Win/Win for both folks.
I agree, but don't expect the outcome to be any different in terms of EUR vs USD. Debtmoney as an institution is collapsing because it has promised orders of magnitude more labor/energy than can actually be delivered over the lifespans of the people who own the promises. It's absurd to imagine that X amount of gold post-"collapse" will somehow enable you to extract MORE value from society than an equivalent amount of USD at today's conversion rate does now. You will have a larger slice of a smaller pie. Whoop dee fucking doo.
This is an often repeated fallacy, as there is always one buyer and one seller for every trade.
not when a price is too low
Too low? The seller didn't think so.
Not all markets are zero sum.
Not true. More buyers needed for the price to go up. When there are more buyers, the price bid goes higher and lures sellers to execute the trade.
So. In esence both theories are correct.
Brian Sack does just fine by himself.
...as he just showed us in the equities markets. Bravo, Brian. Right on cue.
To: Hedgeless_Horseman
Can't 1000 buyers purchase gold from 1 dealer?
Eventhough the the oz's bought and sold balance, the statement is true!
That would be a 1,000 trades, each with one seller and one buyer. Think about it.
Agreed there are 1000 seperate trades, but there are still 1000 individual buyers and only one individual seller.
So there are more buyers then sellers - symantics?
No semantics. Tyler's statement is false.
Price does not tell us how many buyers or sellers, only Level 2 quotes.
Sometimes there are 5000 buyers and one Blythe Masters.
4/7/11, bitchez†
You're no Rebecca Twigg, Slurpee.
Actually it's Billy and Bastard and Methman buying. that's why they haven't been around lately. They have been going door to door at the coin shops trying to find a 1 ounce silver maple or eagle.
Alas to no avail. That's OK guys, I'll sell you some.
For 100 bucks each
Another day, another fresh, new, world record in this retail index.
Man, talk about "perma-gloomer" remorse.....
"Any minute now, I swear, the system is gonna collapse!"
The system has collapsed already. Nobody is trading in the stock market and its in a coma with occasional injections of pomo money.
And the 401 k outflows are increasi g as people run out of cash.
So, government intervention extended the economic trainwreck for another 2 years. Big deal. And, to boot, the welfare SNAP system pushes newly minted credit into a few big box stores like Walmart and Target.
Real unemployment stuck at 16-17% check.
Outflows to cash in retirement funds, check.
Collapse in savings, check.
Personal and sovereign bankruptcy, check.
Housimg market recollapse, check.
The extra money from not paying mortgages into iPads and cheap shit from China- check.
Just a point of note a public park has food lines accepting SNAP near me for "farm fresh" produce. This must be pretty new as I don't recall the "SNAP Accepted Here" sign they now have. This seem to be an indicator of SNAP expanding. The food lines have been in the park before but it used to be handouts...more ways for JPM to gain on misery.
"World record", is that in the Guinness book? You are a fucking buffoon.
RT- the fact that "they" still junk you for pointing out the "message" of the markets is basically the reason I'm still long the stock market. Even Mr. J Sinclair and his merry band of posters is basically long the market in one way or another. Anything to avoid USD fiatsco cash, now at 6 basis points for a 3-month Tbill. The bubble is in cash, not stocks, which are less overvalued than cash and cash equivalents.
Next up: "return" of the housing market. Hasn't anyone heard that houses are traditional inflation hedges?
Well, you can't eat a house, but unlike silver you can live in it. And you can protect your PM in it.
But you never really own it because the government taxes you on it, it is a depreciating asset, it costs money to maintain and repair, it is cheaper to rent and a landlord has to fix all of your problems by law, RE has been on a down trend and continues on that trend (in case you didn't notice), credit is tight especially for people without jobs and on food stamps, their is mortgage and foreclosure fraud with proper ownership being disputed, a house is stationary where PMs are portable (and their pipes don't burst), a house can burn down (or be hit by a tsunami or force of nature), a house will not feed you (unless you have enough land and work it), people have to go into massive debt usually to purchase a house which can easily bankrupt them.
Don't want to waste my time continuing.
John Wemmick+portable property=Great Expectations
August 15, 1971
+November 22, 1963
Record high deficits, Government shutdown looming...
Yet market up, up and away!
you cannot make this stuff up!
Let it ride... Gold, Silver to the stratosphere. Let them hold the paper
Go physical!
To Robo: Another Day, Another F***Ing Face!
http://www.youtube.com/watch?v=M4BLbIM0E-g
Is it just me, or are things starting to get crazy in real time? Like "hold-on, hears where all the graph go non-linear".
It really is just you (us). Hang around with some non-ZHers and see how the discussion of precious metals goes. Hint: It doesn't. There is a level of misunderstanding and superstition out there that is astounding.
I have been hoping that superstition translates into silver rising for protection against Vampire/Wolfmen/Phantasms.
Wait till there at 10-15% moves intra-day... Look at the charts in 79-80...
Agreed. If something really big happens, it could even be a double overnight.
It's crazy, even my high net worth banker buddy doesn't get it. He (and his clients) buy GLD as their gold hedge. They hold ZERO physical.
I told him to build a vault in his basement and fill it up with PM's. He thought I was joking.
Gold still the conscience of the central banker as they all struggle to debase their currencies (or wish they could). You can bet that the dollar has no where to go but down.
Gold also reflecting the increasing malaise with the global political climate where agreements and accords that once seemed unshakable are looking wobbly. And revolutions are popping up like maggots on a rotting corpse.
Finally there's he growing inevitability of QE3 and more Euro bailouts. No wonder petrodollars are turning to gold.
================
by Johnny Bravo
on Fri, 09/10/2010 - 04:35
#573463
You'll see what's coming in gold, very soon.
The GLD is already turning back down, and the rising wedge failed to make a new high.
It's go time.
I'll make a promise right here and now. If gold hits the Cup and Handle target of 1450, I'll never post here again.
if the rising wedge plays out, I expect some respect.
reply flag as junk (9)
==========
Rest in pieces, JB..we will miss u ( not)
Looks like mathman has to drink one big glass of shut the hell up.
I hope tyler has IP banned him with a note why.
haha! I wonder what his new handle is here. No doubt he still lurks
world's tiniest violin plays for his sympathy
One hour of internet access to read and post on ZH: $0.06
One ounce of gold: $1459
Completely and devastatingly discrediting the anti-gold trolling of JohnnyBravo: Priceless
The best revenge is living well.
You speculators are gonna get your asses tore up. Where were all of you when Ag was at $21.00, $16.40, or even $12.00 ?? I hold physical not to get rich but for after SHTF so I can carry some of my net worth over to whatever currency system they dream up next. This MF'er is gonna crash *HARD*. Your PM's won't help a bit if you starve to death the first year. Best be investing in dry goods, a Berkey, antibiotics, salt, sugar, rainbarrel, a good gun, and some lead. Oh, and lots of TP. The man with 5 cases of shit ribbon will be king. Recon for a small two story concrete building nearby so that you can set up on the roof.. they can't burn you out and you can rain down fire, lead, and feces on them. The system *will* reset and then you will be rich with your PM's. But you gotta survive that first year.
JUNK AWAY, BITCHEZ !
Who do you spoze will be keeping the Nuke plants cool during that first year? Hope yer usin' the lead for wallpaper in the bunker.
The truth doesn't get junked here much.
Thanks for the tips on Berkey, water filtration really is something I don't know much about, and TP. Hadn't thought about TP.
Better:
http://www.lifesaversystems.com/unique.html
Best:
http://www.katadyn.com/usen/katadyn-products/products/katadynshopconnect/katadyn-water-filters-endurance-series-products/katadyn-pocket-usa/
TP? Bah, you know there`s a damn good reason a large portion of the planet will only shake your right hand.
If you weren't raised a certain way, or did not acquire certain skillsets through early professional experiences, then it requires the assimilation of a vast amount of knowledge in whatever spare time one has, and that is even before devising and implementing a functional plan.
I can just see this jackass sitting outside his two story concrete building because he can't find the keys. Better carry an umbrella when the rain of fire lead and feces comes down.
5 cases of TP isn't enough to keep your wife happy for a year
The TP is for *me*. She gets the old phone books I have stored in the garage.
Revenge.. bitches. :-)
I've been long TP for awhile now. Wait till it's worth more than uncle Bennie's clownbux.
You clearly don't pay attention to what people say here in the 11 weeks you've been a member.
Take that, paper bitchez!
"One thing we are certain of: there are more buyers than sellers."
True, but they're MF'n big sellers, plus they have carte blanche from the authorities to sell infinite quantities of metal they don't actually have. This battle between good (Us, naturally) and evil (the paperbugs) is far from over.
Well, no --- actually, there are ALWAYS the exact same number of buyers as sellers, otherwise there would not be a transaction in either direction.
PSLV is nuking the shit out of SLV, gold on its way to 1521 bitchez
One thing we are certain of: there are more buyers than sellers.
Sorry to say, you are wrong. By definition. What you should believe is that today's (and yesterday's, and perhaps tomorrow's) buyers and sellers have agreed to transact gold at a greater number of fiatscos than prior transactor's agreed upon.
Au contraire, the statement is perfectly correct. The COT reports are fairly clear that there are only a few large parties selling large quantities of paper on the Comex, whereas there are many, many buyers. Your challenge would be correct if we were talking about the number of contracts changing hands, but that is something quite different.
Actually you won't. On the spot your gold will be worth as much as a 1995 Opus One. That is the same as Welch's Grape. When there's no market and no liquidity, as there will be in gold come a depression, your $2000/oz theoretical price will translate into about 99 cents. A real inflation hedge is well located real estate. If you cant afford it on your own, pool your resources a buy a 6-plex in a dense urban area near public transport and areas of mass employment. Value and income will be there when you need it. Gold is for the masses who think they're hedging but actually are just pawns of the hedge fund oligarchs messing with their heads. Same for silver, an even bigger ponzi scheme.
"Gold is for the masses who think they're hedging but actually are just pawns of the hedge fund oligarchs messing with their heads. Same for silver, an even bigger ponzi scheme."
Thanks for the yuks!
The 'hedge fund oligarchs' have a lot harder time playing their 'games' with stuff they can't just pull out of their asses. So in the spirit of your comment, what does that make FRN's?
<Hint: if XAU headgame is 'big', and XAG is 'bigger'; FRN's must be the 'biggest' by a country mile>
"The hedge fund oligarchs" have yet to enter the gold game or have done so very sheepishly. When their trillions come into play then you will see gold spike $100 a day.
Don't pay the taxes on that 6-plex for awhile and see just WHO the Real owner is!
Whats the price in Euros? I bet gold has gone down in euros and swissies
http://www.goldprice.org/spot-gold.html
Yet another fresh, new high in Victoria's Secret....
Which is more sought after? Shiny coins or underwear?
Tough call....
how about underwear made out of shiny coins strung out on gold threads...?
Already done, kind of...this underwear weighs 950 grams, took four goldsmiths four months to make.
http://i224.photobucket.com/albums/dd236/rosequeen_2007/1121119.jpg
You couldn't get laid on nickel night at a whorehouse.
Another high for Gold, another low (fail) for Elliott Wave
Rob Prechters EW clown show predicted a long multi week decline for Gold (and Silver) a few weeks ago, as they've been doing pretty much every week of every month for the past year in fact. Wrong again Prechter, wrong more times than all your peers and wrong more times than a coin toss (ie. pure chance)
But let's not let constant failure get in the way of your "Expert Financial Forcasting Service". Let's not let persistent and consistent failure to predict where stock indexes, Gold, Silver or the US Dollar is actually going get in the way of your delusional self-belief in the Wave (Wrong) Theory
It's not like a 95% failure rate across all market sectors month in month out should send you a crystal clear message your theory sucks is it Prechter?
Elliott Wave = 95% predictive failure (ie. it does not work peanut brain)
I need to subscribe to this! 95 % fail is superb, as one could just do the opposite at all times. Might even outperform some of the blokes throwing up charts 'round here.
That's a 95% predictive SUCCESS as a contrary indicator!
Prechter bills himself as a contrarian alright, he thinks he's aloof from the market, the all-knowing 'forcasting expert' as they bill themselves
only problem is Precters clowns are contrarians, contrarian to where the market actually goes (reality) ...nobody is more contrarian to what's happening in the real world than these Wave (Wrong) Theory pillocks
The only entity with a higher rate of predictive failure would be Kitco's gold-hating, dollar-loving spokesman Jon Nadler, with an approximate 99.9% failure rate (have to give him the 0.1% for the few days when he says nothing).
Hey there, credibility: Elliot Wave waves bye bye!
did John Nadler sell his Silver in 2002 as Rob Prechter did, right at the start of its 10 year bull run?
the clowns at Elliott Wave also bleated Gold and Silver were about to topple into a kamakazi dive in May, June, July and August 2010.... just as they went beserk and took off (Silver an 80% rocket ship, and counting.....)
and the Prechter morons then called tops in Gold and Silver in December '10, Jan 2011, Feb '11 and March '11 ....these fuking retards just won't shut up!
Elliott Wave International should be hospitalised under the mental health bill, they're absolutely delusional (certifiably insane) in their ability
Strong sell signal for gold and silver when Math Man starts accumulating
Just gold? Silver too! And corn! And crude oil! And cotton, as usual, just hit limit up a few minutes ago!
The slam down appears to have begun, as usual.
7.4 Earthquake of Japan
those commodity traders are having a field day...in devalued dollars!
Hell, bad news from japan; Hope its not RE-FUKU...
So I just got off the phone with my financial advisor. He's been watching gold spike but doesn't recommend it on the long-term. The spike is due to excessive speculation as people shift their investments towards commodities as they lose trust in the stock market over the short-term (gold isn't the only commodity rapidly rising either). He speculated that gold might touch 1500 but will eventually burst as it becomes highly overvalued. The higher it goes, the more likely a burst will occur. Right now, it's clearly overvalued and it's a gamble to jump aboard right now.
Why do financial advisers never recommend gold or silver , that's right they don't get paid commission if you buy it.
Sounds like you need a new financial advisor.
Did this guy tell you to invest in internet stocks in 99? Or into housing and financials in '06?
Idiots who bought into every bubble they ever saw are all lining up to say that gold is a bubble. This is hilarious. These losers couldn't make a correct call if their lives depended on it. But it never does, because they are playing with other people's money.
He couldn't get a clue during the clue mating season in a field full of horny clues if he smeared his body with clue musk and did the clue mating dance.
Does your financial advisor still live his parent's or his he just new to PMs?
Seriously, gold is not "spiking", nor is rising "rapidly". Compare 1 std dev measurements for each commodity, what commodities have less volatility than PMs?
From these levels, volatility is +/- $100 or more per day in gold. And you will hear cries of sheer panic on these boards long before there is any volatility.
Good luck.
Gold is spiking? Look at the 4 or 5 year chart. It isn't spiking; it is marching. While you're at it, check out 5 year chart of light crude oil. That is what you call a spike.
I love jugs.