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Gold Explodes On S&P Downgrade Warning

Tyler Durden's picture


Who would have thunk that the one beneficiary of an insolvent US (with both bonds and stock futures plunging) would be gold. Oh wait...


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Mon, 04/18/2011 - 09:12 | 1179842 Wakanda
Wakanda's picture

Oh yeah!

Mon, 04/18/2011 - 09:14 | 1179855 tallen
tallen's picture

We're so close to going past $1500, once it breaks then up up up we go!

Futures down big, flash crash 2 would be nice.

Mon, 04/18/2011 - 09:18 | 1179870 Ray1968
Ray1968's picture

I think I just exploded!

Mon, 04/18/2011 - 09:19 | 1179894 unwashedmass
unwashedmass's picture


feel the burn, jamie, feel the burn.

Mon, 04/18/2011 - 09:27 | 1179955 Problem Is
Problem Is's picture

"Burn, baby, burn!
Bernanke inferno!
Burn, baby, burn!
Burn that mama down..."

Mon, 04/18/2011 - 09:58 | 1180122 bonderøven-farm ass
bonderøven-farm ass's picture

Burn indeed...."fighting fire with fire....''


Mon, 04/18/2011 - 10:15 | 1180223 What does it al...
What does it all mean's picture

The day is not over... Check out silver...

Mon, 04/18/2011 - 11:17 | 1180501 ZapBranigan
ZapBranigan's picture

Blythe laid a negative $1 smackdown on Ag in the span of thirty minutes.  Un-frickin-believable!

Mon, 04/18/2011 - 12:17 | 1180742 What does it al...
What does it all mean's picture

Could it be the Chinese?  Raising their reserve for the 4th time, this year?  Or that the Fed effective has a license to hike rates (channel through S&P... there is just NO WAY that the treasury/Fed/White House did not know about this "outlook" in advance.)


Pretty smart though, getting the beated stepchild (S&P, Moody and even Goldman) to do the dirty job for them.


It is all politics, if gasoline is above 4.5 over the summer, Obama won't get elected in 2012 and it's not like anybody from Republican party and/or Tea Party really wants the job...

Mon, 04/18/2011 - 12:52 | 1180747 What does it al...
What does it all mean's picture

Zerohedge server through EasyDNS must be swamped...  Sorry for the dupes.

(BTW, I highly doubt Blythe or JPM is stupid enough to short any of these naked...  at a minum, some of of spread hedge must be used...) 

All this breaking JPM is a fool's errand... they can always shift the loan-loss provisions/reserves to make it look like they are making money.  


Did you know, JPM/Chase/WAMU/Bear has *not* lost money any quarter?  since at least 2005?  Even though the "crisis"?  What fundamentals?  It is all balance sheet accounting tricks... 


Something is truly significant by this move though , it will be very hard for Fed to do a QE3..  and that is something that is already implicit accepted by the WH/Fed/Treasury.

Mon, 04/18/2011 - 13:43 | 1181076 Roger Knights
Roger Knights's picture

"Something is truly significant by this move though , it will be very hard for Fed to do a QE3.."

Good thinking! That ought to knock stocks down by 5%, once it sinks in by the end of the month.

Mon, 04/18/2011 - 09:20 | 1179896 Pegasus Muse
Pegasus Muse's picture

Looking at charts on Netdania.  Euro popped on the news.  Yen popped.  Gold and Silver popped.

DXY -- no change.  Still in a range and trending up.

How can that be?

Mon, 04/18/2011 - 09:26 | 1179947 vortex
vortex's picture

DXY on Netdania is not live, it has a 15min delay in quote. Same is true for some other instruments such as some index futures...

Mon, 04/18/2011 - 09:31 | 1179964 Dangertime
Dangertime's picture

Flight to safety and liquidity. 


Dollar did take a hit but has not given up all of last night's gains.

Mon, 04/18/2011 - 09:44 | 1180008 Sudden Debt
Sudden Debt's picture

It just takes a few words like:


"The US will need to fund itself"





LET'S ALSO NOT FORGET TO BLAME BUSH! (he's not around anyway...)




Mon, 04/18/2011 - 09:48 | 1180079 Hephasteus
Hephasteus's picture

Sorry this flight to safety has the TSA raping it in the bathroom.

Mon, 04/18/2011 - 09:26 | 1179929 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

in your pants?!?

Mon, 04/18/2011 - 11:42 | 1180615 jus_lite_reading
jus_lite_reading's picture

$2500 gold by December

Mon, 04/18/2011 - 10:16 | 1180233 BrobamaReds
BrobamaReds's picture


 Joe Biden email to Obama: "Yo, Yo, my name is Joe - My pants are low and my boxers show."


Mon, 04/18/2011 - 15:30 | 1181487 Banjo
Banjo's picture

Wakanda: Bernanke, Wall St, a good chunk of Dems and Repubs should be hung from lamp posts for what they are doing to America.

GOD DAMN SELLOUTS to the very principles of freedom and liberty!! Sadly like Alex Jones I think we will see a prison planet with those few in charge having everything while the rest of us get to live in tents and work in sweatshop low wage conditions.



Mon, 04/18/2011 - 09:15 | 1179847 tmosley
tmosley's picture

I'm hoping the US waits until at least a while after a COMEX default to default on their debt.  I want to have time to switch from silver to gold  I'm thinking the time to switch may come much faster than I expected it to.

Mon, 04/18/2011 - 09:18 | 1179893 long juan silver
long juan silver's picture

I am the only one gives a rat's what you think but that's because I'm low on toilet paper.

Mon, 04/18/2011 - 09:25 | 1179924 tmosley
tmosley's picture

Next you'll be telling us you "accidently a whole coca cola bottle".

Might I suggest you actually learn how to form a complete thought prior to your next post?

Mon, 04/18/2011 - 09:28 | 1179961 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Gee T, you waited long enough to do that..

Mon, 04/18/2011 - 09:55 | 1180115 tmosley
tmosley's picture

What are you talking about?

Mon, 04/18/2011 - 09:21 | 1179913 EscapeKey
EscapeKey's picture

Yeah, I largely agree. In the medium term, as the downturn hits the economy, industrial demand for silver should reduce, which will free up additional silver for the investment market.

I don't think we've seen the peak yet, though.

Mon, 04/18/2011 - 09:26 | 1179927 breezer1
breezer1's picture


Mon, 04/18/2011 - 10:59 | 1180427 hamurobby
hamurobby's picture

+1 I have already started do that, but just a little at a time. There is no way will I hit it perfect.

Mon, 04/18/2011 - 09:15 | 1179848 Temporalist
Temporalist's picture

All I can do is laugh at that big spike that looks like a middle finger to the global banksters!

Mon, 04/18/2011 - 20:31 | 1182316 StychoKiller
StychoKiller's picture

Excerpted from Al-Jazeera:


The White House, which needs to continue increasing borrowing to finance immediate fiscal shortfalls, has warned of financial "Armageddon" if congress refuses to raise the $14.29 trillion cap.

The limit will be reached by mid-May and politicians must act or see the US default on its debt.

Republicans are demanding more budget cuts before they agree to increase the debt ceiling.

"House Republicans will only move forward on the president's request to increase the debt limit if it is accompanied by serious reforms that immediately reduce federal spending and end the culture of debt in Washington," Eric Cantor, Republican majority leader in the House of Representatives, said.




Mon, 04/18/2011 - 09:13 | 1179851 Debtless
Debtless's picture

Yet the AAA rating remains...ROFL.

Mon, 04/18/2011 - 09:40 | 1180021 Sudden Debt
Sudden Debt's picture

AAA stands for: Anonymous Alcoholist Accountingtricks



Mon, 04/18/2011 - 09:14 | 1179861 Bodhi
Bodhi's picture

This looks to be a day full of 'off the lows' for the rah-rah squad on CNBC.

Mon, 04/18/2011 - 09:17 | 1179865 unky
unky's picture

holy fuck

Mon, 04/18/2011 - 09:16 | 1179872 jesusonline
jesusonline's picture

Faber put it best today: "Don't put all your money into gold, but be your own central bank. Gradually accumulate your own physical reserves of it. And store it outside of US"

Mon, 04/18/2011 - 09:22 | 1179904 Ray1968
Ray1968's picture


Outside of the US-- That'll do you a lot of good when you need it.

Black market is a bitch when the financial system collapses.

Mon, 04/18/2011 - 09:32 | 1179969 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Initially, you are better off with cigs and liquor. Gold won't be usable at the start of TEOTWAKI until the market develops for it.

Mon, 04/18/2011 - 10:00 | 1180140 Temporalist
Temporalist's picture

I think Cigs are BS.  Nobody needs cigs or liquor.  Who really wants to want to trade with addicts when TSHTF?  Now if you that is the last thing you need then go at it but first things like food and candles and batteries and TP for my bunghole and matches, etc. seem much more important than luxury items...although liquor at least has a few uses.

Mon, 04/18/2011 - 10:19 | 1180216 goldfish1
goldfish1's picture

The rubes get the job done in this country.

Here's a story my ole daddy told me. He was a marine ww2. While on Hawaii, he bought hooch with every paycheck and stored it in his stuff. When they stormed Mindanao or somewhere near there, there were a lot of guys killed and morale was low. They needed to get camp set up. The guy in charge couldn't get supplies or anything. Daddy O went to the officer and said to put him in charge, he could get the job done. The guy said go ahead. First thing, DaddyO called the supplies guy and said what he needed. The guy said, why should I give you anything. Daddy O said, I got hooch. He said, "You got hooch? What'dya need?"

They took a truck or two and got what they needed.



Mon, 04/18/2011 - 10:33 | 1180274 Temporalist
Temporalist's picture

Chocolate can go just as far, and sure liquor in war time that's a no brainer.  But people can make liquor at home in a still if they choose to.  Ever see Hogan's Heroes or The Great Escape?  Anyhow the point was trade anything but cigarettes and liquor are luxury items not necessities.  And fewer people smoke with more knowledge of the negative health aspects than during WWII when they used to have news reports sponsored by Camels...the brand most doctors choose.

Gold can't spill and won't get destroyed by water or fire.  Also you might hear "I don't smoke" or "I don't drink" but you won't ever hear "I don't like real money especially when it's too shiney."

Mon, 04/18/2011 - 15:01 | 1181371 burncycl
burncycl's picture

I'm long toliet paper.

Mon, 04/18/2011 - 13:17 | 1180971 glenlloyd
glenlloyd's picture

I'm all for the liquor but cigs get very stale and that aint good.

Mon, 04/18/2011 - 13:27 | 1181020 blunderdog
blunderdog's picture

If they're all that's around, any real smoker will pay good money for cigs with fungus growing on 'em.

Mon, 04/18/2011 - 10:02 | 1180167 goldfish1
goldfish1's picture

Outside of the US

does that mean the rubes are toast?

Mon, 04/18/2011 - 09:20 | 1179907 Infinite QE
Infinite QE's picture

Ya GATA link for that interview? TIA.

Mon, 04/18/2011 - 09:29 | 1179948 jesusonline
jesusonline's picture

Nah man, hate to say it but it's the damned CNBC :)

Investing in gold 

Btw, there are headlines like this already: 'Treasury: S&P underestimates ability to cut debt'

Mon, 04/18/2011 - 09:31 | 1179968 EscapeKey
EscapeKey's picture

I just finished reading "The Four Ends of the Greek Hyperinflation of 1941-1946", and three noteworthy items were that unsustainable deficits were involved (dur!), gold sales led to intermediate stabilization of the Drachma, and that press releases and equivalent were used to manipulate expectations of inflation despite not actually changing fiscal policy.

Well recommended.

Mon, 04/18/2011 - 09:48 | 1180078 jesusonline
jesusonline's picture

Cheers for that ^

Btw, something to muse about too (i've only recently found about this)

Money: De Gaulle v. the Dollar

Friday, Feb. 12, 1965,9171,840572,00.html

Mon, 04/18/2011 - 10:03 | 1180158 Temporalist
Temporalist's picture

”There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence.”
- Charles De Gaulle, First French President

Mon, 04/18/2011 - 11:32 | 1180563 mark mchugh
mark mchugh's picture

But you just summed it up so well, I think I'll keep my cash.

Mon, 04/18/2011 - 09:16 | 1179875 alien-IQ
alien-IQ's picture

Remember the video of the e-trade baby losing it all that was posted a few days ago?...I'll bet there's plenty of people living that right now:-)

Mon, 04/18/2011 - 09:29 | 1179950 A Man without Q...
A Man without Qualities's picture

Yes, I wonder how Bernanke's short put portfolio is looking right now?

Mon, 04/18/2011 - 09:24 | 1179876 mogul rider
mogul rider's picture

rigged crap everywhere. No sense of trading this. parabolic up parabolic flash crash down, parabolic up, parabolic down, parabolic up........

And we start all over again. Jesse Livermore loved this, my liver doesn't.


Methinks I'm gonna spew.............................


Trader Dan's comment about hedgies getting eaten when the miners explode is truly prophetic and a clear udnerstanding of what is about to happen.


Yo hedgies! Best not be the last bitchez in the room

Mon, 04/18/2011 - 09:42 | 1180057 Sudden Debt
Sudden Debt's picture

let me tell you a little secret only a few of us know: the trend for silver and gold is UP SINCE YEARS!!


Mon, 04/18/2011 - 10:09 | 1180192 mogul rider
mogul rider's picture

I'll tell ya a better secret,, When your granddaddy had a gleam in his eye, my granddaddy was buying gold mines.When we back up the bus, we back it up to where they pour it.

How's that for a li'l secret


So ya I get it


Mon, 04/18/2011 - 09:18 | 1179877 LoneStarHog
LoneStarHog's picture

Mr. Denninger, what is your opinion of this gold and silver thingy?

Mon, 04/18/2011 - 13:32 | 1181028 Bay of Pigs
Bay of Pigs's picture

And where's Prechter and his EW analysis?

$1500 Bitchez...

Mon, 04/18/2011 - 18:09 | 1181968 akak
akak's picture

Just for having the temerity to question Karl "Iron Fist" Denninger and the deflationary prisoners in his MarketTicker gulag, er, I mean forum, I BAN YOU!!!

Mon, 04/18/2011 - 09:16 | 1179880 Silverstar
Silverstar's picture

Get the Party started...

Mon, 04/18/2011 - 09:19 | 1179883 AUD
AUD's picture

We might soon find out just how much gold is in Fort Knox!

There's only one thing that will prise the gold from the greedy fingers of government, a government bond crisis.

Mon, 04/18/2011 - 09:19 | 1179884 gordengeko
gordengeko's picture

So if gold and silver make us millionaires, does that mean we can secure our spot as middle class?lol

Mon, 04/18/2011 - 09:26 | 1179942 Pegasus Muse
Pegasus Muse's picture

+1.  let's hope so.

Mon, 04/18/2011 - 09:54 | 1180119 Long-John-Silver
Long-John-Silver's picture

Just jump in the dumpster behind the Bank and pull out a few million dollars. You can burn it to stay warm this coming winter.

Mon, 04/18/2011 - 09:19 | 1179895 Dreadker
Dreadker's picture

When they said AAA remains... they must have meant the automobile association...

Mon, 04/18/2011 - 09:21 | 1179897 aVian
aVian's picture

dollar finally is turning back 

Mon, 04/18/2011 - 09:27 | 1179933 EscapeKey
EscapeKey's picture

Best looking horse in the glue factory.

Mon, 04/18/2011 - 10:35 | 1180317 Temporalist
Temporalist's picture

I think Max Keiser called it the "Leper with the most fingers."  He may have borrowed that from someone else.

Mon, 04/18/2011 - 09:22 | 1179898 monopoly
monopoly's picture

Just the beginning all. Hard to believe with a worthless relic in a bubble and worth nothing that it would move higher. Not buying dollars guys? UnAmerican. :)

And I only have 50% of physical towards my goal. So much for the next dump.

Mon, 04/18/2011 - 09:22 | 1179899 The Count
The Count's picture

We're off to see the wizard, the wonderful wizard of Odd.



Mon, 04/18/2011 - 09:22 | 1179906 aVian
aVian's picture


Mon, 04/18/2011 - 09:20 | 1179901 aVian
aVian's picture

infact the dx is in tankage

Mon, 04/18/2011 - 09:26 | 1179930 Clueless Economist
Clueless Economist's picture

I recommend another 2 Trillion $ stimulus that will lead to shovel ready jobs being created.  This will lead to a lower gold price.

Mon, 04/18/2011 - 09:20 | 1179910 monopoly
monopoly's picture

Just keep paying down debt. At some point interest rates will rocket.

Mon, 04/18/2011 - 09:21 | 1179912 strannick
strannick's picture

"Gold... Oh you nuggety little gem, how you continue to surprize me..."

-said with a Will Farrel accent

Mon, 04/18/2011 - 09:21 | 1179916 BrobamaReds
BrobamaReds's picture

my Dr. said Mylanta

Mon, 04/18/2011 - 09:25 | 1179926 writingsonthewall
writingsonthewall's picture

Where have the 'anti-commoditists' gone?


Probably all seething and preparing lines about "who listens to ratings agencies anyway blah blah blah"


...Ratings agencies are like real estate agents - everyone listens to them intently when they overprice your house - but nobody wants to know when their valuation is below your expectations....then you find one who will give you a good valuation (foolishly thinking valuation = sales price)


The real question remains - "Do gold bears shit in the woods?"


What about robottrader - surely he has the answers?

Mon, 04/18/2011 - 09:41 | 1180049 topcallingtroll
topcallingtroll's picture

I voted for commodities before i voted against it.

Then changed my mind a while back and went long again.

I still say when we all have shit stains in our underwear about the inflation monster it will be time to sell and go liquid.

End of qe2 might be perfect timing. A tired inflation trade meets an excuse to sell.

Mon, 04/18/2011 - 09:59 | 1180136 oddjob
oddjob's picture

But you told other people to sell,you were a chicken shit.You told people they were going to lose everything by being invested in PM's.You had no conviction in your own opinion.If you had balls you would have sold and just shut up.You are a shill.

Mon, 04/18/2011 - 10:43 | 1180352 Temporalist
Temporalist's picture

Comeon oddjob you know the anti-pm crew always is altruistic and only has the best interests of others in mind.  They are always only trying to protect someone from the big mistake of thinking real money has any place in the world when paper is where it's at for them.

They are all the same.  They want to say "I told ya so" and be right one time in their lives but their reason is purely egotistical, and completely wrong.

Mon, 04/18/2011 - 22:48 | 1182687 akak
akak's picture

The rabid and disingenuous poster "WatchDawg" spent over 100 comments in the silver "StickSave" thread trying to do both things --- "save us" from the inevitable crash in the price of silver, and vainly (in both senses of the word) trying to prove himself right even after inserting foot in mouth multiple times.

Don't they teach any originality in troll school?

Mon, 04/18/2011 - 09:25 | 1179938 HUGE_Gamma
HUGE_Gamma's picture

You should be rich buy now buying silver on leverage from $18.. whats up?

Mon, 04/18/2011 - 09:28 | 1179943 bhakta
bhakta's picture

Can't see anything stopping gold's rise except a balanced US budget and not more QE.

Mon, 04/18/2011 - 09:28 | 1179945 VFR
VFR's picture

Perpetual Upward Spiral of Silver (PUSS) :-)

Unusual for Gold to beat Silver!

Mon, 04/18/2011 - 09:38 | 1180024 krispkritter
krispkritter's picture

Perpetual Upward Spiral of Silver Yields.  There, fixed it...

Mon, 04/18/2011 - 09:50 | 1180094 VFR
VFR's picture

very funny!! 

Mon, 04/18/2011 - 09:27 | 1179951 overmedicatedun...
overmedicatedundersexed's picture

ben just jumped out the window heading for the second star on right and on to never never land..weeeeeeee

Mon, 04/18/2011 - 11:08 | 1180359 Temporalist
Temporalist's picture

Tim-kerbell is right by his side...quick everyone press the enter key three times on treasury purchases if you want Tim-kerbell to live! ( sad no takers.  Poor Tim-kerbell).

Mon, 04/18/2011 - 09:28 | 1179956 silvertrain
silvertrain's picture

And thus a few more top callers fall by the wayside..Who wants to step up to the plate next and remove there credibilty?

Mon, 04/18/2011 - 09:35 | 1180003 topcallingtroll
topcallingtroll's picture

I do.

Sell in may and go away.

All risk trades fall in favor of being liquid as qe2 ends.

Mon, 04/18/2011 - 10:46 | 1180369 Richard Head
Richard Head's picture

You've already demonstrated your wrong calls.  You just don't have the decency to leave like the other idiots.

Mon, 04/18/2011 - 09:32 | 1179972 zaknick
zaknick's picture

Eur & usd both being choreographed down by same banksters.

Mon, 04/18/2011 - 09:32 | 1179973 clones2
clones2's picture

Yahoo Finance just changed their headline for Citigroup...  from something along the lines of "Citigroup earnings up x%"... until the market tanked and now its "Citigroup profit falls 32% on weak revenue".

F'ing morons don't know which way to spin the story...

Mon, 04/18/2011 - 09:34 | 1179979 Chuck Yeager
Chuck Yeager's picture

Market is bat shit crazy right now...this might be the Big One?

Mon, 04/18/2011 - 09:33 | 1179982 topcallingtroll
topcallingtroll's picture

I still say it tops out no later than early june when qe2 stops.

When we all have shit stains in our underwear because we are scared out of our minds about inflation, few of us will be brave enough to sell risk and go liquid.

Mon, 04/18/2011 - 09:38 | 1180022 Rusty Shorts
Rusty Shorts's picture

Pants                filled.

Mon, 04/18/2011 - 09:43 | 1180062 topcallingtroll
topcallingtroll's picture

You shat too early. Hold it in a bit longer.

Mon, 04/18/2011 - 15:02 | 1181374 Al Gorerhythm
Al Gorerhythm's picture

Gone liquid?

Mon, 04/18/2011 - 09:32 | 1179985 GFORCE
GFORCE's picture

Hmm, a big rush to physical on the news then? No, just the latest darling of the paper pushers.

Mon, 04/18/2011 - 09:33 | 1179992 savagegoose
savagegoose's picture

here in australia its only a $2 spike

Mon, 04/18/2011 - 09:34 | 1179998 ivars
ivars's picture

Welcome Your next president:

Mon, 04/18/2011 - 09:37 | 1180000 New American Re...
New American Revolution's picture

Technical objective for gold out of this formation of the last year is $1975.   For silver it is $65<.    Grab your hats, we're going for a ride.

Mon, 04/18/2011 - 09:56 | 1180118 VFR
VFR's picture

I believe we will see a pull back from here mid May. Then June onwards up up and away. 

Mon, 04/18/2011 - 09:40 | 1180002 The Count
The Count's picture


Got lucky yesterday night and was able to get a couple rolls of 90% silver quarter for UNDER spot, including shipping....

FYI: at $43 an ounce spot silver the value of the metal in a roll of 40 silver quarters is $311. If can buy at that price or less incl. S&H you are much better off than paying spot +10% or more at places like APMEX.


Mon, 04/18/2011 - 09:44 | 1180055 unclebigs
unclebigs's picture

How does that make you feel to buy $10 worth of quarters for $311?  Have wages gone up 31x since 1964?  Schmuck.



Mon, 04/18/2011 - 09:45 | 1180073 The Count
The Count's picture

um.... idiot yourself, there is over 7 ounces of pure silver in that roll, but i guess thats too much math for you to handle.

Mon, 04/18/2011 - 09:59 | 1180146 Long-John-Silver
Long-John-Silver's picture

He's still hung up on fiat face value. Perhaps some day he'll take the red pill and wake up to reality.

Mon, 04/18/2011 - 09:36 | 1180011 Hulk
Hulk's picture

Hmm, trolls promised pm pricing tied to stocks. Stock selloff = pm selloff.

How little they understand...

Mon, 04/18/2011 - 10:16 | 1180232 Creed
Creed's picture

you spoke too soon there Hulk


dow off 230, silver off .63






































Mon, 04/18/2011 - 12:55 | 1180893 blunderdog
blunderdog's picture

Helpful tip: hold down the Shift key when tapping Enter with lists like this.


Mon, 04/18/2011 - 09:38 | 1180019 pupton
pupton's picture

I can't wait to hear that talking dildo Steve Liesman try to minimize the significance of this.

Mon, 04/18/2011 - 09:40 | 1180033 unclebigs
unclebigs's picture

Gold is up 0.8% on the day.  Explodes?  LMFAO!!!!!

Mon, 04/18/2011 - 09:55 | 1180121 tmosley
tmosley's picture

Up $15 in a few seconds is an explosion, yes.

Mon, 04/18/2011 - 10:42 | 1180328 Hephasteus
Hephasteus's picture

Well considering it's circuit breakered and it reached it's breaker instantly ya.

It's like when elephants finally get fed up with the circus and go on a rampage but they got it surrounded by a swat team with tranquilizer darts.

You just don't know if it was going to simply knock it's trainer down or if it was going to go full ape shit and stomp people till it was killed.

Mon, 04/18/2011 - 09:43 | 1180046 Sudden Debt
Sudden Debt's picture





and print a extra few billion to fund Obama's campaign so he gets another 4 years SO HE CAN MAKE ME FEEL RICH!!




Mon, 04/18/2011 - 09:52 | 1180099 IQ 145
IQ 145's picture

 Decaf is not that bad, you know; the modern brands taste pretty good, and it might relieve some of the "pressure".

Mon, 04/18/2011 - 09:41 | 1180047 lieutenantjohnchard
lieutenantjohnchard's picture

looks as if s&p finally caught up with the rest of us living in the reality based world.

Mon, 04/18/2011 - 09:43 | 1180063 lieutenantjohnchard
lieutenantjohnchard's picture

we few. we happy few, we band of silver brothers.

Mon, 04/18/2011 - 09:58 | 1180130 gatoralsoccer
gatoralsoccer's picture

As Dorothy said so long ago, "Come stroll with me down the yellow brick road, wearing our silver slippers"!

Mon, 04/18/2011 - 10:01 | 1180149 tickhound
tickhound's picture

Elton John, Honkey Cat

When I look back, the bubble market green,
tried to pan for gold while they're pissin' in my stream,
lookin for the answers, tryin' to make a dime,
but then I saw those wall street lights, honey they're all blind.

Ben sacked the paperback
higher prices for my goods,
but we'll print the next phase,
cuz we have, red dow days and ah,
Oh oh oh oh, whoa change is gonna do us good.

Mon, 04/18/2011 - 10:32 | 1180299 SubjectivObject
SubjectivObject's picture

I like the possibilities of this, new words to familiar tunes; a good one here.

Maybe ZH can be a place to build the songs and then leave for the viri to feed on.

Mon, 04/18/2011 - 10:24 | 1180258 samsara
samsara's picture

I'm expecting to see $5 a day swings in Silver and $50 - $100 swings a day in Gold

Mon, 04/18/2011 - 10:38 | 1180324 SubjectivObject
SubjectivObject's picture

Dollar up, blink, dollar down; now we're swingin'!

Mon, 04/18/2011 - 10:33 | 1180301 ZeroPower
ZeroPower's picture

Simply love gold here, and longer term like silver (not as much), but would like to say i've added some SLV puts this morning, the May 41s.

Mon, 04/18/2011 - 10:37 | 1180315 earlthepearl
earlthepearl's picture

What the F- just happened to Silver

Mon, 04/18/2011 - 12:34 | 1180807 PrDtR
PrDtR's picture

Overnight i had a terrific gain only to be awakened by alerts to a loss!

Re entered later in morning on pullback and was able to hold on "barely" while more selling pushed prices against my stop..

When the dust had settled, the surge around 0930 brought me some nice gains I was not going to give up!

This IS a TRADING situation.. need to NOT fall in love with silver unless you own physical.. playing w/ futures .. better to sweep $$$ off the table.  Don't forget to convert those $$$ into something more stable if you have no need to spend it.


Mon, 04/18/2011 - 10:38 | 1180321 monkeys.pick.bottoms
monkeys.pick.bottoms's picture

Gold and silver down on negative outlook for the US? Logical in a non-free market environment. And who is John Galt?

Mon, 04/18/2011 - 10:38 | 1180323 unclebigs
unclebigs's picture

Silver Explodes Downward on the day.  LMFAO!!!!!!



Mon, 04/18/2011 - 11:07 | 1180460 Sudden Debt
Sudden Debt's picture

The euro is down twice that much, so I still make a 1% gain today :)

This is also a reaction on the call activity. All this good news today will make silver double by the end of this year.


Mon, 04/18/2011 - 11:18 | 1180498 Spastica Rex
Spastica Rex's picture



I'll check back on this comment later today.

Mon, 04/18/2011 - 10:41 | 1180334 Blind
Blind's picture

Rate spike expectation~

Mon, 04/18/2011 - 10:53 | 1180390 jesse livermoore
jesse livermoore's picture

can anyone one explain how the mining shares have sold off for the last two sessions . when gold and silver are at 52 week highs???  its confusing

Mon, 04/18/2011 - 11:25 | 1180525 r101958
r101958's picture

Politics? If you can't take down the targets (Gold/silver) then take down their supports?

Mon, 04/18/2011 - 11:25 | 1180531 jemlyn
jemlyn's picture

They are going with the Dow.  It must be manipulation, trying to trigger the stops, then buy at the lows.  We've all been warned of a wild ride.  I'm losing too but not selling.  This is too volatile, might not be able to get back in.

Mon, 04/18/2011 - 11:26 | 1180539 lieutenantjohnchard
lieutenantjohnchard's picture

digging a mine requires a lot of energy - oil. basically the higher oil goes the more of a drain it is on the miners to extract the product. also, many hedge funds are shorting the miners, and going long the physical.

Mon, 04/18/2011 - 11:33 | 1180570 McTeague
McTeague's picture

Miners, in general, lead precious metals. They have been signaling a final correction in PM's for the past few sessions. I suggest you learn about cycle theory, as it has been incredibly good at tracking the movements in markets of late, in spite of Fed/bank manipulations (only serve to stretch cycles out further).

This is a final correction cycle that will happen, exogenous events or not, before the final leg of the current C-wave kicks in — and exhausts itself in the next few weeks. Then, we're in for a multi-month drop in the metals (D-wave), and bounce-back (A-wave) to start the whole cycle off again. Don't confuse cycle theory with Elliot Wave theory.

Mon, 04/18/2011 - 11:22 | 1180521 r101958
r101958's picture

The current moves are basically because the Wall Streeters and D.C.ers, whilst living in their world of 'perceptions', still buys every sales pitch delivered by the TBTF's and the PTB. At some point they will realize that it is all meant to manipulate them. So, the dollar suddenly gets stronger on the usual drivel about the EU self-destructing. In the meantime, S&P downgrades the outlook for the U.S. but the market takes it as a performance indicator and the markets slide and oil is down. If this is a ploy to make QE3 palatable then I think there is not a single person amongst the Wall Streeters and D.C.ers that can think for themselves as QE3 would only make the U.S. financial situation worse. I think this is as much about taking down commodities as it is about anything else.

Mon, 04/18/2011 - 11:35 | 1180567 r101958
r101958's picture

...and, of course, the dollar is up to 75.8...on the great news of S&P downgrade.

Mon, 04/18/2011 - 11:37 | 1180572 Temporalist
Temporalist's picture

They are talking about Gold on Bloomberg TV now.  They mentioned that the OI is 5x greater than the gold in inventory for Comex.  The even quoted Kyle Bass and the UTx endowment doubling their gold and the quote of his “I look at gold as just another currency that they can’t print any more of” pointing out that taking delivery of the physical is where people are rushing to.


Mon, 04/18/2011 - 11:43 | 1180610 overmedicatedun...
overmedicatedundersexed's picture

pm's just turned around again and are shooting up..the war is on the miners will end the day green..blythe and benare losing it the oscillations in the markets is head spinning

Mon, 04/18/2011 - 12:37 | 1180817 Temporalist
Temporalist's picture

John Hathaway of Tocqueville Gold Fund is on Bloomberg now too discussing the UT gold and that other pensions and endowments are late to the game and gold is still underowned.  He will be on for a while still.  Great guy to listen to.  Here is a link to a recent speech:

Mon, 04/18/2011 - 11:45 | 1180621 r101958
r101958's picture

Just like last week? Taken down on Monday.....all gained back by Friday?

Mon, 04/18/2011 - 11:44 | 1180626 Temporalist
Temporalist's picture

Gold will close at new record high today.

Mon, 04/18/2011 - 12:26 | 1180771 Vendetta
Vendetta's picture

the banking cartel shifted their algorithms with smaller but more frequent takedown sequences to take down the PM markets on Mondays rather than Fridays ... its psyops at work

Mon, 04/18/2011 - 12:58 | 1180898 blunderdog
blunderdog's picture

It's a cute little blip, but as far as gold volatility goes, we ain't seen nothin' yet.

Mon, 04/18/2011 - 14:51 | 1180981 Braverdave
Braverdave's picture

Last night I had pretty much made up my mind to make another trip into town to the coin dealer today and buy another handful of silver Maple Leafs and a few of the 1/10 and 1/4 oz. gold coins as well.

Events this morning have convinced me to buy more to add to my little hoard. And if there is a pullback I will buy more again.

Either way I am buying more.


Mon, 04/18/2011 - 13:50 | 1181111 Grand Supercycle
Grand Supercycle's picture

'COPPER has ignored the recent equity bounce. Daily and weekly are not bullish' ~ March 31, 2011.

'When the sell off does occur, it won’t be pretty. As mentioned earlier, this market behaviour is similar to 2007 / 2008' ~ April 6, 2011.

'DOW/S&P500 is tracking sideways once again suggesting that short covering rally has lost momentum' ~ April 7, 2011.

Mon, 04/18/2011 - 15:39 | 1181526 suckerfishzilla
suckerfishzilla's picture

Wowee!  That means Gold is up almost a whole percent this year.  It shore is purdy.

Mon, 04/18/2011 - 17:04 | 1181804 DosZap
Mon, 04/18/2011 - 22:51 | 1182688 jhanders
jhanders's picture

That was quick, thanks for sharing this critical info ;-)

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