Gold Opens $1,520, Silver Over $50 Everywhere But Comex (For At Least A Few More Minutes)

Tyler Durden's picture

While markets are relatively quiet everywhere, precious metals have just gone apeshit. Gold opens at $1,520 while silver hits $49.70 on the Comex, drops, and is backing up again last treading at $49.22, as the world is pricing in the end of the US reserve currency. The parabolic melt up is in full force and we expect the nominal Hunt high to be taken out today, after which the resistance is the real Hunt high somewhere around $140, courtesy of the Federal Reserve confetti.

And this video from future money trends gives a better picture of the fiat melt down.

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youALREADYknow's picture

Welcome to the new normal.

What does it all mean's picture

It made a 6 points plus round trip.   Where are the cheerleaders now?

Hard1's picture

My screens say:

S&P   -0.15%

DXY   -0.07%

Gold  +0.46%

Silver  +3.35%

Give me an S!.....

TruthInSunshine's picture

Gold just came!

That means more QE from Helicopter Ben on Wednesday!

He's going to need a larger fleet of Chinooks. Maybe he can get Keebler Elf stunt double Timmay Geithner to authorize the U.S. Government borrow more money for The Bernanke Giant Sky Rodeo Helicopter Procurement Program, with interest paid to The Federal Reserve on that loan, of course.

 

TruthInSunshine's picture

The reverse of catching falling knives is hitting one's head on floors.

Mr. Q's picture

agree.

a top should be in place in the coming week.

Long-John-Silver's picture

I do believe Silver could hit $500 an ounce next week sometime.

thames222's picture

lol...i'm holding for another week for sure, at least until more commercials and ads start popping up.

 

www.forecastfortomorrow.com

smlbizman's picture

in early december, to end of jan. apmex shelfs were mostly bare....fast forward to today.....now apmex shelfs are empty again, but even more empty than before....so keep buying we are nowhere near the top......what is caveat emptor for sellers......oh  i no....silver bitchezzzzssss

right cassack55,

 

good morn "thatthing..."

besodemuerte's picture

I bought in at $17 thinking I was paying too much, then at $27, then at $37....holy fuck Silver is on a rocket to the moon. 

 

I can't help but assume this isn't the end for the USD.  It seems almost too easy and predictable.  I would gamble that the Euro goes first, causing a decent spike in the world's least shitty currency (USD) and a bit of stabilization before the inevitable ride down to paper production value.

barkingbill's picture

i keep hearing that the euro should go first...why? they raise their interest rates...we don't. they aren't a reserve currency threatened with extinction like we are. you may be right, but lets have some proof, while the obvious endangered species at the moment is the u.s. dollar

Long-John-Silver's picture

Interest rates are the problem. They can't pay off the debt much less adding interest to it. The only solution is default which kills the Euro. From that moment Gold and Silver become money because it's the ultimate collateral.

critical_mass_soon's picture

Dollar is dead, america is the puppet of england and its war dog and this dog has served its purpose, we saw its rise and now we are witness to its fall, its all just part of the greater plan in the 'great game' we call life.

Its not about currencies its about power and control and they were always going to abuse the dallor and run it into the ground abit like you would an old car you plan to scrap sooner or later.

The Euro in my view will probably form part of a future world currency, but its here to stay thats for sure.

 

fayz

zhandax's picture

It seems almost too easy and predictable.

This ain't rocket science.  You print enough currency to buy your own debt and that currency becomes worthless.  Not that it will be painless, linear, or clear-cut.  There will be spin, bullshit, and retracements.  But now a 20% retracement in silver will take you back down to (gasp) $40.  Chew on that one a while.  Option expiration, bitches!  (After two years, I had to let at least one fly....)

akak's picture

Or, we have a phenomenally, unprecedentedly bad crash of 60%, and silver falls to a (very temporary) low of $20 --- 11% higher than it was on this date last year.  It's almost too funny.

Long-John-Silver's picture

That would cause the Mother of all PM buying frenzy.

tmosley's picture

No shit.  I'd sell my house to buy that dip.

Exposer of Internet Shills's picture

Oh yeah... try and find any at that price :)

Founders Keeper's picture

[That would cause the Mother of all PM buying frenzy.]---Long-John-Silver

...if silver is available for purchase.

And if people have any money left to spend.

 

sun tzu's picture

What makes you think the Euro is here to stay? The EU is a fragile collection of over a dozen different languages, cultures, and people who have held grudges against each other for hundreds or even thousands of years.

onesoul's picture

While US paper is on its path to become a historical artifact, many good people in the US will be buried with it.

I hope that more can wake up and protect themselves, or even fight against the elite, while there is still time.

I agree paper will be valued a paper and silver and gold will be valued as "precious" with new floors of 1520 and 50.

mark mchugh's picture

You're right.  In many respects, the American public has gotten what it wished for:

  • Don't let my house lose too much "value"
  • Make my 401(k) go up
  • Keep interest rates low.

What you've actually wished for is a dollar collapse, and that's what you're getting.

I wonder what they will wish for next......

dark pools of soros's picture

next to wish for??  virtual reality glasses for everyone

sun tzu's picture

You mean the bankers got what they wanted. 

Chuck Walla's picture

Man, I, too, was trying to think of a good way to explain to Mrs. Walla why I was buying at $18.  Now, I don't have to.

thames222's picture

Yes, it is a little too predictable but it is our reality...i'm thinking they might try to institude a national ID card with paperless currency stored on it for everyone.  thoughts?

 

www.forecastfortomorrow.com

Temporis's picture

I'm happy yet scared as hell at the same time.

Is this the beginning of hyper inflation?

AUD's picture

More than likely.

I'm going to pull cash out of the bank tomorrow & I'm in Australia! Only a matter of time before the bond speculators start questioning whether our government debt will be repaid, which it won't.

Snidley Whipsnae's picture

AUD... The government debt will be repaid but in nominal fiat... which will have a great deal less purchasing power as time goes by. The dollar and many other fiats are doomed by the printers. Disregard the 'debate' about the Fed stopping the printing presses...the result would be too politically painful to tolerate. Those holding dollar denominated paper best get out while that paper still has some purchasing power. The printing is nowhere near peak and neither is the price of gold/silver priced in a constantly sinking dollar.

akak's picture

Temporis, I share you concern and your fear.

I came home from Easter dinner this evening only to turn on my computer and find silver at $49.56.  One might think that such a figure might have excited a long-time watcher of the precious metals, but I almost felt like vomiting instead.  For the first time in this silver surge, I feel fear, real fear, of an imminent monetary shitstorm.

Troll Magnet's picture

you know what this means...

when people think the world's coming to an end, they start having sex more freely.

condoms bitchez!!!

EscapeKey's picture

Why would you use condoms if the world's gonna end?

Long-John-Silver's picture

Ding Ding Ding! We have a winner!

Snidley Whipsnae's picture

The world is not going to end. The dollar is in the process of becoming another Peso and losing it's world reserve currency status. Some will prosper, some will lose, but the world and trade, though diminished for a time, will continue.

nmewn's picture

"Some will prosper, some will lose, but the world and trade, though diminished for a time, will continue."

Word.

And for those who produce, who labor, so that others may trade for profit...and spent some of their precious time to listen, to learn & then to verify, trusting in no one but themselves...to then understand the concept of monetary freedom & liberty...to then go outside the system that was formulated against them and save a portion of their labor in this way, that portion of their labor is now being revalued to something approaching it's true worth.

These are the times that try the elite class souls, lets see how they fare ;-) 

Bringin It's picture

Now right there, you don't sound like a troll at all. 

That's really a pretty good post. 

How do you reconcile these thoughts with your beliefs in the government 9/11 fairy-tale?

Don't get angry.  Explain yourself.  For example ... What's your explanation for the controlled collapse of Building 7?

Here, try listenning to this first.  It may help you. Jerry Garcia Band: Deal

Either way peace out nmewn.  Whatever your game, you're gonna have to deal with the future just like everybody else.

nmewn's picture

"Now right there, you don't sound like a troll at all."

And yet, you still do. 

"How do you reconcile these thoughts with your beliefs in the government 9/11 fairy-tale?"

I see you're still smarting over my take down of the ghoulish little cottage industry you leftwing moonbats had set up around 911 victims in order to profit from their pain & misery...thats some tough shit right there huh?...victims cell phone calls, passenger flight timelines & schedules, suicide Mossad pilots, victims voice recognition software, pre-planted nano explosives impressively placed right where the planes went in...a grand conspiracy, all gone...when all it ever was, was gross federal government incompetence in allowing these bastards to get inside the nation and roam about freely & unmonitored as foreign nationals, which is all I ever said it was. 

And your idiotic comment has what to do with 911 and the fiat price of PM's exactly?...the gold recovered from the crater afterwards?...it's accounted for.

You obviously have a reading comprehension problem, you detestable maggot, I have always been for the common man and against the elites of any side that promote this Keynesian socialistic nightmare...you should just scroll on by and give your obligatory one junk so you don't embarrass yourself this way.

Founders Keeper's picture

OT

nmewn. Read your post this weekend about your back injury. This is just a shout out to Get Well Soon---if not, then we'll see you at the Kamp FEMA infirmary.

Hope you had a blessed Easter.

 

 

nmewn's picture

I believe they would consider me as irredeemable on their part, I wouldn't have it any other way ;-)

It gets better every day...stronger, less pain...still a bugger right now though.

Thank you for your kind wishes my brother, my Easter was joyful but quiet under the circumstances, I trust yours was everything you had hoped for, filled with reverence and family.

Regards my friend.

Al Gorerhythm's picture

Damn you Snidley. Why mess up a leg-opener of a story. Damn. There goes my only chance!

destraht's picture

It could even be a nice thing if the US gets to a point that it is only capable of waging war against one country on the other side of the world at a time.

Bicycle Repairman's picture

A possible wild card would be war.

FeralSerf's picture

In times like this, there must be war.  How else are The Owners to explain to The Flock the reasons for The Unpleasantness that will be upon us RSN?  Our Flock Owners aren't about to admit responsibility for The Great Unpleasantness.  Therefor it must be the Other SOBs (the ones with the oil maybe?).

We must get even.  Even if it kills us.

thames222's picture

thoughts on a $10,000 American USD bill, and that $10,000 being about enought to buy a gallon of milk?  lol INFLATION 2019

 

www.forecastfortomorrow.com

Tim White's picture

   Exact same feeling & scenario here...

mt paul's picture

fifty bucks an oz

 

pocket change...