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Gold Promptly Digests IMF News, Outperforms Dollar
Yesterday's "no-news" news from the IMF which for some reason drove a jittery gold market down, ended up merely being a buying opportunity, as the IMF press release was simply a recap of previously disclosed information. But in this headline driven market, who cares about the second paragraph. More interestingly, over the past week, Gold has solidly outperformed the dollar, returning nearly 5x more than the DXY. As previously speculated, the new "euro-fleeing" regime is resulting in both dollar strength and increased gold appetite as central bank flows increasingly steer away from fiat exposure.
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I believe we are counting years and not months in regards to how long this gold sale has been in the works. It had to pass the U.S. Congress, after all.
There's a difference between the metal itself and the miners. Miners are still equities and perform at a beta to the metal....and are easier to keep down, if you've got enough $$.
The decoupling will be for real, when Gold starts tracking ALL Fiat currencies..and not just swinging on the dollar.
As for NOW, it is..................will it continue, we'll see.
I find it somewhat amusing that the IMF's notice of selling the balance of the 400 metric tonnes,brought prices down, for a bit.
And, there are NO takers.
Very strange..........the fiat currencies and status of MOST of the world, are on the precipice of falling off a cliff.............with us.
Seems like the remainder would have been snagged post haste...
China is not going to be the buyer, unless they get it for free...........or close to it.
India's price @$1045.00, was not an issue.......
It's like the world is in a cma, the dollar is stil considered a safe haven, since their currencies/conditions are crap also, but....shit, is still shit.
Why trade your shit, for my shit?.
It's still the same old Shit.
WORTHLESS....................
Didn't you hear? Toyota built Ben's printing press for him. The accelerator got stuck on the Japanees model and it is now stuck on the US model. They are desperately trying to do a recall but they can't get it to stop so they can't fix it.
Gold knows this.
LOL +1
LOL, +e^9
+10...ROTFLMAO
Let's see..March,2008 gold crosses $1000 mark for 1st time. Dollar at 70 dxy. Feb, 2010 gold at $1100, DXY at 80. Believe gold is holding up very well.
Go to the head of the class. The dollar and gold can both go up together in the absence of a carry trade. Likewise, gold and equities. It is a game of last man standing at this point, and gold has nothing working against it (and much for it) - fundamentally. Technically? Let the bastards do their worst... like demons, they know their time is short(ening).
LOL. Way to tie various world events into one neat little package - brevity is the soul of wit indeed. Reads like a new form of haiku with sentences rather than moras.
Ben finally heard that Americans are tired that he is only making the owners of the Federal Reserve richer.
Being a big hearted guy, he is going to add a zero at the end of each dollar bill ($1 -> $10, $5 -> $50, ...) so that the rest of us can feel rich, too.
The Banksters and their FLUNKY FED loaded DEBT on US Citizens while also removing their Wealth by shipping Entire Industries overseas! They produced a massive consumption Economy to produce massive DEBT and USURY GREED to exploit and manipulate nearly ALL AMERICANS!
Prepare for the CRASH that will make this recession look like a joke.
move 401 K savings from Wall Street into real assets.
" But in this headline driven market, who cares about the second paragraph. "
Ain't that the truth! There are ALOT of thoughtless knee jerk reactionary morons in this world. Little wonder most people lose money.
Everybody knows already, there IS no recovery coming.
COMEX is facing too many parties demanding physical delivery.
IMFs open market sales are the last final attempt to avoid the collaps in the metal markets.
People are in the know now.
The manipulation has been exposed and it is public knowledge.
The game is over.
Go GATA !
"COMEX is facing too many parties demanding physical delivery"
Not according to Nadler, he thinks scrap is lying in the streets.
I have noticed that, folks ARE waking up globally............
DO not be surprised if their is a severe shortage, at event horizon.
Nice takedown by the Cartel yesterday afternoon. Gave them a headstart before traders had a chance to "digest" this news. What a laugh. So now the COMEX price is right back where it was just before the IMF announcement. Nice work boyz.
The US holding Toyota hostage to force Japan load up on more Treasuries and offset the decline in Chinese demand.
HOW PATHETIC !
And you thought, nobody else would get it ?
America is over the cliff already.
Its over.
+11 gazillion
And to do that to a country we nuked, twice. Now that is cold.
Yeah... I think when the Treasuries implode, it will make Hiroshima look like a cherry bomb...
If you want beef, then bring the ruckus. Gold and Silver ain't nothin to F with.
I was thinking, DXY to live and die at 80? Imagine with these currencies taken down all together here on out, and gold just moves to the sky, where it belongs.
Wu tang clan - Aint nothing to f wit:http://www.youtube.com/watch?v=jSUl3GnU8ks
Rap.
Since the squid owns the White House, it must also own the Secret Service. We know how good the other SS was at making it's foes vanish, so lets see how this one stacks up.
You know, if I didn't like my topiary so much I'd steal your excellent avatar idea and become that green-shoot-smoking Sarah Lynch for a while.
I know a lot of SS,no one owns them, and they do not travel the beat of the drummer in charge.
Their just doing their job, but.....if the SHTF........................
So Gold has "outperformed the DXY by 5x" over the last week?
Nice perspective!
I supposed we could go back and check the past 10 years or perhaps 40 years or perhaps since 1913.
They made waay too big a deal out of that IMF sale, as if to say "all is well". To me that signals weakness and buyers will demand the physical even more strenuously.
Monday I made my single biggest purchase of gold Eagle 1 toz. coins. Now I guess I'll get the buzz from Leo and Master B, but I was a happy fellow boarding the plane with my gold being undetected by the scanner. Also bought a 1 toz. platinum Eagle, those Pt Eagles are getting hard to find.
I too am very interested to see if the rumors on the 'Net re COMEX and others (USA?) not having the physical they say they do....
"It's all about the metal!" <-- From fofoa.blogspot.com website
A comment or two re physical vs. paper gold prices. As the big players are very secrective, there are two indicators that may help us see through the fog:
1) At 24hgold.com there is a handy link to ebay where they are selling US 1 toz Eagles and post the current high bid vs. the metal value. This premium typically bounces around kind of a lot, it is now a BIG 36% over the metal value, I have seen it as low as 9%. I did pay $70 over spot the other day (6.5% premium), but I bought big from a very reputable dealer in another city from where I live.
2) Professor Fekete says that if we have anything longer than a technical one or two day blip regarding BACKWARDATION in gold (that is, a lower price in the nearby futures prices vs. cash price now), then it is GAME OVER. That is the COMEX (et al) do not have it or will not deliver it.
The two above observations will give us clues as to if/when gold physical decouples from "paper gold".
Time may be short, if you are thinking about about buying gold, you may want to get going soon.
Airline scanners don't detect gold? That will change if capital controls are called for.
If the Euro actually comes apart, people will then realize that major fiat currencies are subject to collapse. Those in parts of the 3rd world or the former USSR already get that but the "western" world does not seem to have populations that grasp it.
The euro not too long ago was seen as supplanting the dollar and now there are those questioning its very viability (FWIW, I predicted the euro would come apart, maybe 5 years ago?). For a major currency to go from supposedly ascendant to supreme to collapse all over an *insolvency* of a member nation...well, who's more insolvent than the US and its 50 states?
The Banksters and their FLUNKY FED loaded DEBT on US Citizens while also removing their Wealth by shipping Entire Industries overseas! They produced a massive consumption Economy to produce massive DEBT and USURY GREED to exploit and manipulate nearly ALL AMERICANS!
Prepare for the CRASH that will make this recession look like a joke.
move 401 K savings from Wall Street into real assets.
Billionaire Investor George Soros Doubles His Investment In The Gold ETF
http://etfdailynews.com/blog/?p=9468
But, But, Gold is in a Bubble!!!
speaking of gold, this is an interesting article on how poorly the GDX gold etf has done over the past few years because it's weighted so heavily to stocks like Barrick Gold and Newmont Mining, which have gone nowhere, as well as info on some individual gold stocks that have performed much better:
http://www.goldalert.com/stories/Gold-Stocks-GDX-vs-San-Gold
Too me this isn't bullish at all. The IMF would have sold the remaining gold to a sovereign if they could. There weren't any takers which doesn't bode well for the idea of gold as a reserve currency.
Who says they won't? You are a little too credulous to be playing markets. "If they could"? Believe me, they can if that is the end they desire. I suppose you also swallowed that whopper about the sales being "to raise cash for impoverished nations". Bwahaha. Buy a bridge instead..
George Soros will sell his position in Gold in February. Gold and Bonds are the most crowded trades right now. Investors jumped out of the stock market, and put their money in bonds and Gold.
Those investors are going to loose a lot of money again. The crowd is always wrong.
Of course, the bull market in Gold could resume later in 2010, or 2011, but for now, I think Gold and Bonds are heading for trouble.
Agreed, on both counts..............(barring a Middle East Implosion).
Look, long-term, we know fiat is trash and so holding gold seems sound.
And right now, holding gold makes sense - you're not giving up much interest.
But, if interest rates go up sharply, I would expect gold to get crushed.
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