Gold Over £900/oz As British Pound Falls Sharply - Soaring Inflation Sees UK Retail Sales Plunge Most On Record

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
ZeroPower's picture

Gold and particularly silver are vulnerable to a short term sell off. The fundamentals remain very sound but correction and consolidation may be necessary in both markets.


Yes. People playing in paper PMs here don't know how to take profits and then come here to bitch.

Sell >40, buy dips under 38, keep on trucking.

topcallingtroll's picture

I sold gdxj at 42 ish and 116 ish. Should have.sold at the height of the inflation hysteria. Now slight doubts are creeping in as the end of qe2 is near.

I have one box of silver eagles left. I will probably just keep that and not worry where it goes, but i am totally out if silver hits 50. I am in cash and cyh now waiting.for a.downdraft.

Cyh is just for a quick pop and then sell.

topcallingtroll's picture

I may be early calling a top in the inflation trade, but it just now appears that people understand there is no qe3 in the immediate future.

Ben cannot afford unpredictability. Qe2 will end on schedule and there will be no qe3 unless we have another deflation svare.

AUD's picture

Yeah, and you could be wrong like you have been every time.

topcallingtroll's picture


Not every time!

Lets see how it unfolds.

Global Hunter's picture

Its just Headline Inflation folks, they can't afford to let the stock market indices drop, that headline they care about.  A QE3 I think will continue in some manner, but watch the go for a big headfake and call it something different.  

topcallingtroll's picture

Good point to remain vigilant and suspicious.

Bicycle Repairman's picture

"there will be no qe3 unless we have another deflation svare (sic)"

Since QE is the only thing holding up this economy, there will be another deflation "svare" and QE will promptly resume.

bania's picture

Au/Ag with a case of "morning rod" today

oh_bama's picture

Those guys are too NEGATIVE!!

  • UK is doing GREAT!
  • CPI BEAT Expectations!
  • And short sterling went up 18 ticks in the back end!!


SloaneSquare's picture

Well most suspect the UK CPI number was leaked. I hear there's going to be an investigation and I hope a number of people are feeling the heat.

Josephine29's picture

The UK inflation numbers were better on a headline basis but there were factors within them that make them look as if they may be a one-off or temporary improvement. The reason for this is explained below.

It would appear that this months dip in the annual headline rate of inflation was caused mostly by the discounting of some prices by shops and supermarkets. Adding in the way that the CPI index is calculated meant that the headline rate was affected by 0.4% when its predecessor RPI fell by a much smaller 0.2. If we remember that on a month on month basis prices rose and that shops are unlikely to discount forever then I feel that we may finally learn the true definition of the word temporary!


So we may yet see inflation last for longer in the UK and may yet see it go higher...

topcallingtroll's picture


But i believe it is about time for deflation concerns to reappear.

overmedicatedundersexed's picture

if only they were on the Euro, it would be all roses and honey in dear old england..

cheesewizz's picture

Sorry, off topic, But...

"Running from Tsunami"


topcallingtroll's picture

We may get another btfd moment.

The deflation monster is rattling his.chains.

Better hope he doesnt break out, cuz he will open
a can of whup ass on all y'all hyperinflationistas.

thepigman's picture

Global recession's back, bitchez.

thepigman's picture

I was getting tired of every bulltard maroon

making coin on asset price inflation, anyway.



DoctoRx's picture

Gold picking up Big Finance bulls.  This is necessary to allow pension funds, general institutional investors, and of course average retail investors to push prices to another level.  IMHO not a contrary indicator yet, so long as the case for gold remains strong and gentle Ben continues to worry about not enough price inflation.

Bicycle Repairman's picture

IMHO the plan is 5% to 10% inflation for a decade.  Negative real interest rates.  The market will be slightly up in nominal terms.  Cut in half in inflation adjusted terms.  Lowered standard of living as wage inflation will not keep up with price inflation (suck it up).  Efforts to vacuum up middle class and third world wealth to re-capitalize the bankers will continue.  From time to time there will be headfakes to keep the rabble in line.  Not to worry, the banks will be informed of the incidence and duration of the headfakes well in advance.  The vast majority of little guys trying to trade these headfakes will get their capital vacuumed up promptly.  When the frogs have been boiled sufficently, TPBT will declare that it is "Morning in America."

Bansters-in-my- feces's picture

A loaf of bread will be $49.95 also.