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Gold Hits New Record

Submitted by Tyler Durden on 04/27/2011 13:45 -0400

GOLD FUTURES RISE TO RECORD $1,522.80 AN OUNCE

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Wed, 04/27/2011 - 15:51 | 1213233 akak

Dangerclown = Nostradumbass

Wed, 04/27/2011 - 15:25 | 1213048 fuu

What did you say earlier today down in $45? Up $13k but down $12k.

There went the last $1000 profit you were sitting on.

Also, thank you for the confirmation that you are Math Man.

Wed, 04/27/2011 - 15:37 | 1213135 NotApplicable

$47.98

Good thing you didn't keep half of your stash!

Wed, 04/27/2011 - 15:39 | 1213151 Richard Head

The stupid fuck claims he sold 1200 ozs of physical a day or two ago. Just another loser daydreamer.

Wed, 04/27/2011 - 15:48 | 1213198 tmosley

$48.21

Dangertime is stuffing himself into the incinerator right about now.

Wed, 04/27/2011 - 15:52 | 1213244 akak

He should burn quite well, with all that paper stuffed into his pockets.

Wed, 04/27/2011 - 16:39 | 1213504 Bicycle Repairman

Silver now over $48, Dangerbitch. How's your asshole doing?

Wed, 04/27/2011 - 16:52 | 1213552 akak

Don't disturb Dangerclown in his moment of ecstasy!

"Ooh yeah, give it to me Ben .... oh yeah, like that ..... ease it in there quantitatively ...... ooh baby, that's the way! ..... deeper .... fuck that dollar good ..... oh yeah! ..... shit yeah ..... screw those savers! ...... give it to me man ...... SHOOT THAT STIMULUS!!!"

Wed, 04/27/2011 - 20:50 | 1214387 StychoKiller

So, are ye a frustrated, erotic novelist? :>D

Wed, 04/27/2011 - 21:09 | 1214439 akak

One must have hobbies .....

Wed, 04/27/2011 - 16:16 | 1213363 Tail Dogging The Wag

they're buying all the US Dollars they can with their SLV shares, lol. it's only 5 to dig out of the ground, laughing ... whereas it takes a hard day's manual labor to take those dollars out of the printer! lmao

Wed, 04/27/2011 - 14:03 | 1212533 brian0918

AGQ up 8% - after being down about 10% yesterday. This is a wild rollercoaster!

Wed, 04/27/2011 - 14:10 | 1212561 TruthInSunshine

Two things.

First, this is ancectodtal, but maybe someone can confirm - I heard that there are parts of India where shops will not accept USD. This was told to me by a friend who works stateside with Indian co-workers.

Second, there is a great awakening happening, where average people are buying silver & gold because they've lost confidence in their government. They may or may not understand the role The Federal Reserve has played in the entire mess, but they understand that something very bad is happening. And every fiatski that gets converted into gold and silver, and leaves the system, squeezes Bernanke that much harder.

Wed, 04/27/2011 - 14:25 | 1212611 SME MOFO

well I wouldnt be surprised that some shops dont accept USD

they use a currency called a rupee in that country

do you need me to explain again about how if you close your eyes I can still see you?

Wed, 04/27/2011 - 17:05 | 1213631 ejhickey

I am waiting to hear about some shops in the US that won't accept USD.

Wed, 04/27/2011 - 19:09 | 1214053 Clay Hill

Sshhhh...

I have to wait until tomorrow a.m. to clean out the local shop. Hope there's some still there.

*crosses fingers*

Wed, 04/27/2011 - 14:25 | 1212649 Broomer

You probably heard this:

Dollars no longer accepted at Taj Mahal - Yahoo! News

Wed, 04/27/2011 - 14:33 | 1212733 TruthInSunshine

Thanks.

That would be it.

Bernanke says Timmay killed the dollar about 3 minutes ago.

Hilarious.

Wed, 04/27/2011 - 14:08 | 1212563 Dick Darlington

OT: Now this is what i call expensive gas. 9,99 euro (confetti) per litre! Weimar 2.0 around the corner?

http://www.bild.de/geld/wirtschaft/benzinpreis/benzin-abzocke-esso-kunde...

Wed, 04/27/2011 - 14:16 | 1212604 jomama

damn, and that's per litre...

Wed, 04/27/2011 - 15:26 | 1213094 earnyermoney

~ $40/gallon

Wed, 04/27/2011 - 14:11 | 1212566 SheepDog-One

My sister just got back from Canada, many places will not accept dollars, she says even the banks are not happy taking it.

Wed, 04/27/2011 - 14:47 | 1212818 DosZap

Wel, Canada is going to pay her dues also.Their ship sailed, and it's about to dock.

Besides why do they care?, their making money off of USD's against the LOONIE.

Wed, 04/27/2011 - 14:13 | 1212577 RobotTrader

I'm actually begging and praying for my miserable gold stocks to catch a slight bid so maybe I can make some scratch and move out of my seedy 600 sq. ft. apartment in N. Hollywood in a building infested with used up hookers and escorts. And if I'm lucky, perhaps I can dump my MetroPass and buy a scooter so I don't have to ride the bus everywhere.

LOL.....

Wed, 04/27/2011 - 14:13 | 1212585 SheepDog-One

Should have taken delivery of physical and left those bullshit paper metal stocks the hell alone like your mom told you.

Wed, 04/27/2011 - 14:59 | 1212900 Big Ben

I dunno, SheepDog. I'm not generally a fan of stocks. But the metal stocks have really lagged the physical, so perhaps they might be worth a look at this point. Also, if the Chinese stop buying treasuries, I have a hunch that they might just start buying the miners.

So in this case, perhaps Robot is not so far off the mark. We shall see!

Junk away, guys!

edit: by the way, it wasn't me who junked you.

Wed, 04/27/2011 - 14:18 | 1212616 lieutenantjohnchard

as opposed to your parabolic hd, vz and mo high performers.

btw: the old scroomer gentleman jim sinclair, as you call him, sends warm regards.

Wed, 04/27/2011 - 17:55 | 1213389 Tail Dogging The Wag

Soon all the "office executives" will be working a second job as escorts at night and the farmers will have a pick. This reminds me of the Garbo film Joyless Streets. Talk about moonlighting. It's actually not soon, it's already happening in the UK and the US.

Wed, 04/27/2011 - 16:21 | 1213400 topcallingtroll

Any hooker discounts?

Wed, 04/27/2011 - 17:03 | 1213622 bingaling

http://www.kitco.com/stocks/companyname_asc.html

Looks like your dreams are coming true

Wed, 04/27/2011 - 14:14 | 1212584 Treasure Freedom

Thats it, I'm selling my dog to buy more PMs!! lol

Wed, 04/27/2011 - 14:23 | 1212636 Long-John-Silver

Never sell your dog! You can eat dog.

Wed, 04/27/2011 - 14:28 | 1212667 Misean

F**k that, the dog can hunt squirrels. Much better use, I say.

Wed, 04/27/2011 - 14:41 | 1212784 Long-John-Silver

Squirrels and Rabbits will be obliterated by the hungry masses. You will eat the dog eventually.

Wed, 04/27/2011 - 18:27 | 1213920 zerozulu

My dog is vicious. sniffing all around for Ben

Wed, 04/27/2011 - 15:26 | 1213066 earnyermoney

my dog ignores squirrels for rabbit and deer.

Wed, 04/27/2011 - 16:24 | 1213418 Tail Dogging The Wag

Laughing!

I actually sold my black Lab last year and I bought some silver with the paper money.

Wed, 04/27/2011 - 14:36 | 1212755 Young

Let's jump with joy once the equity markets take out their highs... It's all a puddle of leveraged mudd...

Wed, 04/27/2011 - 14:56 | 1212897 nontaxpayer

Now, I take the savant approach in PM trading: never mind supports and all that TA stuff...just BTFD if the opportunity presents itself.

Wed, 04/27/2011 - 15:04 | 1212915 Young

Well, there we go... Wow, trading nowadays is like watching a snail crawl... One could scalp and go to the shitter in between every trade.

Wed, 04/27/2011 - 15:04 | 1212921 Tracerfan

Silver Bitchez. And gold, too.

And how did you like my fake birth certificate?

Wed, 04/27/2011 - 15:03 | 1212922 rosiescenario

What can we do to get Ben on T.V. more frequently?

Wed, 04/27/2011 - 15:07 | 1212934 FranSix

Was looking back on an interview from last December, just to touch base at what's happening now.

John Ing got it bang on last December:

http://www.bnn.ca/News/2010/12/30/Gold-to-hit-2000-in-2011-analyst.aspx

Wed, 04/27/2011 - 15:07 | 1212935 Max Rockatansky

keep talking ben, keep talking

Wed, 04/27/2011 - 15:08 | 1212951 redpill

DXY just hit new 2 1/2 year low

Wed, 04/27/2011 - 15:13 | 1212970 HUGE_Gamma

in ben we trust

Wed, 04/27/2011 - 15:16 | 1212991 Tabarnaque

Ben said that passed June, the Fed will keep its balance sheet at constant level, meaning that they will reinvest the proceeds of maturing Treasuries and MBS. Now what if they sell back to the financial system the toxic MBS and re-invest those proceeds into more treasuries? That would in fact be QE3 by the back door, pushing the excess leverage back into the financial system. But that doesn’t matter as FASB allows mark to fantasy model. If this is to happen, what will happen with those toxic MBS that the financial system would absorb? Where will they stuff them? Will they sell them to Pension Funds? By the way, that could be as high as another 1.5 trillion or better said, more than enough for next year’s budget deficit. Does that make any sense or am I off the track?

Wed, 04/27/2011 - 15:14 | 1212994 samlowrey

hmmmmmmm.......now where is the button to transfer my Lexus to checking........oh, there it is

Wed, 04/27/2011 - 15:22 | 1213040 mynhair

Ooops, there goes the fiatsco. 73.48

Wed, 04/27/2011 - 20:58 | 1214405 StychoKiller

73.32!

Wed, 04/27/2011 - 20:59 | 1214410 StychoKiller

73.14 -- Everybody limbo now...

Wed, 04/27/2011 - 15:27 | 1213101 mynhair

GPL: 4 by 4.

Wed, 04/27/2011 - 15:31 | 1213106 mt paul

DXY

73.42

two and a half year low ...

Wed, 04/27/2011 - 15:37 | 1213148 oncebitten

As this travesty of a Q&A was going on the UPS man arrived with a box containing six silver Panda coins. Thanks, Ben, I'm already up two bucks/coin on just the base metal value.

Wed, 04/27/2011 - 15:57 | 1213267 adeptus

Today's Bernanke FOMC speech in 1 chart...

http://i56.tinypic.com/2z7pemg.jpg

'Nuff said!

Wed, 04/27/2011 - 16:05 | 1213305 QEsucks

wow. just wow. thought it would be a week or two to get back to even on panic buy, Monday. Thanks, Chairsatan?

Wed, 04/27/2011 - 16:12 | 1213351 MGA_1

Wow... big moves... dollar took a drubbing. Troubling.

Wed, 04/27/2011 - 16:19 | 1213374 jerry_theking_lawler

DANGER, Will Robinson!!, DANGER, DANGER!!

Wed, 04/27/2011 - 16:39 | 1213494 goldstandard

To all the fucking retards that are paid a better than average salary for being econmic forcasters, you assholes are probably responsible for more investors being turned off to the metals than any other sector of the markets. As the bearded one spoke, gold and silver whispered in Uncle Ben's ear.....you moron. The master dumpster cut Obama's political throat today because come 2012 that quaint old saying will once again be heard. Are you better off today than you were four years ago? Just a thought. You may want to top off the oli tank before winter, because today's prices will seem like a distant memory.

Wed, 04/27/2011 - 16:46 | 1213527 defencev

Including yesterday post of Simon Black crony recommending shorting silver through leveraged ETF...

F...cking suckers who are trying to sell their BS...

Wed, 04/27/2011 - 17:48 | 1213801 Big Ben

Black's recommendation is in the red!

Wed, 04/27/2011 - 16:47 | 1213536 mr_T

I pitty the fools shorting Au & Ag. I did buy a bunch of calls on both before the Bernankster show... I was waiting for someone to throw a shoe at him..

Wed, 04/27/2011 - 16:54 | 1213581 Thunder Dome

All right you silver bugs, after today, I admit, my $25 SLV puts are junk. That move hurt a lot.

Just remember, in the end, there will not be enough diapers for you all.

Wed, 04/27/2011 - 17:21 | 1213692 tmosley

What, for all the illegitimate children we will father with the vast adoring hoards of ladies who are attracted to our immense wealth?

Yeah, you're probably right.

Wed, 04/27/2011 - 17:28 | 1213706 akak

Just remember, in the end, there will not be enough diapers for you all.

So tell me, Thunderdome, just what DO those sour grapes taste like anyway?

It sounds like you have a whole bowl full of them in front of you right about now.

Wed, 04/27/2011 - 19:08 | 1214052 Thunder Dome

My proprietary model was indicating an imminent collapse. Will have to review a few assumptions tonite.

I know in my bones silver is in bubble land.

Wed, 04/27/2011 - 19:37 | 1214136 Hephasteus

I don't think bones are a very information storage device. They are good for making red blood cells which have to be replaced every 14 days. I guess that's where this blood in the streets comes from.

Wed, 04/27/2011 - 20:28 | 1214306 tmosley

Your bones are broken. I suggest you try the entrails. Or the fundamentals. Whatever.

Wed, 04/27/2011 - 21:09 | 1214448 akak

I know in my bones silver is in bubble land.

And I know in my boner that silver is going higher, like, well, ......

Wed, 04/27/2011 - 17:29 | 1213729 narapoiddyslexia

I'm not a silver bug, I'm resigned to cynicism. Big difference and a hell of a reason to have to buy pm's. The US government is fuk ed.

Wed, 04/27/2011 - 18:00 | 1213842 topcallingtroll

yeah it sucks.

just keep tight stops and hang on for the ride.

I hate the idea of buying physical right now, but I suppose if I buy some physical and buy some puts I can pretend I am being rational.

Wed, 04/27/2011 - 19:19 | 1214080 narapoiddyslexia

Here is a picture of what a trillion bux looks like. Imagine 14 of 'em. With a lot of green ink, and a small piece of the Natinal Forest converted to paper, we can pay that sucker off in no time.

http://www.pagetutor.com/trillion/index.html

Wed, 04/27/2011 - 17:21 | 1213689 Youri Carma

GOLD FRESH NEW ALL TIME HIGH AT $1,530.40 oz http://charts.kitco.com/KitcoCharts/

Wed, 04/27/2011 - 17:35 | 1213736 narapoiddyslexia

If recent patterns hold, it will start going up again around 6:30-7:30 EST.

Its been halting on rises at almost exactly 4pm EST, then it picks back up again after about 2-2.5 hours. Anybody know why this would be?

Wed, 04/27/2011 - 18:14 | 1213878 falak pema

ask lady blythe.

Wed, 04/27/2011 - 18:18 | 1213884 falak pema

silver at 49?

Wed, 04/27/2011 - 18:24 | 1213916 topcallingtroll

Ok, you silver and gold bugs win this round, but my BIDO is still up! Documented on ZH buying at 145 something. I can't keep up with decimals. Price target is either 200 or 142. Take your pick.

Wed, 04/27/2011 - 20:07 | 1214217 Temporalist

Didn't you just say a few weeks ago that you were now officially a PM bug?

Make up your warped mind.

Thu, 04/28/2011 - 02:06 | 1214936 cornedmutton

73.028

Thu, 04/28/2011 - 06:05 | 1215079 paulypaul

Lets go to Gold Beach

Gold Hits New Record

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