Morning Gold Fix: January 13

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Thu, 01/13/2011 - 10:20 | 872765 Caviar Emptor
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It's all bullish for gold this morning for as far as the eye can see. 

With new jobless claims back up to baseline depressionary levels, the downsizing of America continues. And with PPI breaking all expectations in the US and everywhere else, the inflation genie is out of the bottle.

What's the Fed gonna do? Make money looser of course! QE3 is a Vegas fix now as unemployment is quickly starting to look structural, and we don't want that rumor to spread, oh no. 

Thu, 01/13/2011 - 10:23 | 872778 Ecoman11
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So much for that CFTC meeting today. They must have told Gensler to delay or else...

Thu, 01/13/2011 - 10:26 | 872785 flacon
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What happened to the meeting? I thought they were scheduled to meet today to discuss "position limits" - that was the news last week. Remember when Jill Sommers said she was on board? What now?

Thu, 01/13/2011 - 10:36 | 872808 Cdad
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It is going on right now...decision expected today.

Thu, 01/13/2011 - 10:36 | 872809 Quintus
Thu, 01/13/2011 - 10:58 | 872860 flacon
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Thanks for the link!

Thu, 01/13/2011 - 10:40 | 872816 Sudden Debt
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They are first writing the press releases and once these are done they will do the circus meeting for the spectators, and ading some abiance to it and make it look good.

 

Thu, 01/13/2011 - 10:25 | 872781 TraderMark
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50 Cent was pumping a penny stock he had ownership of on Twitter this weekend.  It truly is 1999 all over again.

http://www.fundmymutualfund.com/2011/01/50-cent-pushes-penny-stock-as-gh...

Thu, 01/13/2011 - 10:34 | 872799 Sudden Debt
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SILVER PLEASE!

 

Tyler:

You should check the US government silver reserves!

It's somewhere between 0 and 0 ounces :)

Thu, 01/13/2011 - 10:33 | 872802 Pants McPants
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I am relatively new to trading gold, but bought my first few coins back in 2006.  I have since concentrated the majority of my positions in silver (long AGQ).  As has been discussed before, it's been a great few months - I hope to see even more gains in the coming year.

 

Thu, 01/13/2011 - 10:38 | 872812 Sudden Debt
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I'm going for a 100% per year price increase om my silver for the next decade or so.

no need to be greedy and expect to much of it. Everything that surpasses the expectation is a surplus for me :)

Thu, 01/13/2011 - 10:41 | 872815 Caviar Emptor
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The next wave of gold buying will have way more urgency than the last few. Keep in mind the eye popping price rises in other countries, including the very largest ones. As the inflation story gets more intense, sovereign and systemic risk will rise dramatically as long dated bonds of recent vintage get dumped wholesale. And even equities will suffer since the current brand of inflation comes with high unemployment and demand destruction, killing margins and leading to some downside earnings surprises

Individuals and governments alike are going to be rushing for the protection of gold

Thu, 01/13/2011 - 10:43 | 872819 Sudden Debt
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For now, only the weirdo's have bought silver and gold. (you, me and other nutcases)

Soon to follow: The masses :)

 

 

Thu, 01/13/2011 - 10:48 | 872836 velobabe
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not nutcases SD, nutsacks, and that ncludes females†

Thu, 01/13/2011 - 10:43 | 872820 bigdumbnugly
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and the recent daily beatdown commenced again just minutes before the meeting began.

Thu, 01/13/2011 - 10:43 | 872823 velobabe
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another thing, gold is not perishable. a lot of the other commodities are perishable. you can only lose it.

Thu, 01/13/2011 - 10:56 | 872856 Sudden Debt
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and for silver you have the airtights.

If it's tight it's good enough for me.

Thu, 01/13/2011 - 10:44 | 872827 papaswamp
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They popped and then dove....did a new limit get slapped on them?

Thu, 01/13/2011 - 10:47 | 872833 Turd Ferguson
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"The above chart from Nick Laird of ShareLynx and shown on Casey Research is remarkable. It shows how gold is sold consistently close to the London PM Fix."

And again today...


Thu, 01/13/2011 - 11:13 | 872914 jomama
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the shit has traded sideways for months now.  it's obviously heavily manipulated, and the prices fiat don't mean a whole lot...  although the parity is somewhat interesting.

Thu, 01/13/2011 - 11:12 | 872915 PaperWillBurn
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Next on the ECB's "to do" list - Buy gold on the open market to drive it's price up which coincidently gives them more of a buffer to buy struggling countries debt!! Brilliant

 

There was no sarcasm in the above post, it is briliant to use gold as a Reference Point ;)

Thu, 01/13/2011 - 11:19 | 872945 tmosley
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I would love to see similar charts made for various commodities and/or stock markets.  This would give a nice reference point.  That way we can say "see, the manipulation is HERE, and this is NOT NORMAL".

Thu, 01/13/2011 - 11:25 | 872962 qussl3
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Not to burst anyone's bubble but here in the far east, there have been individuals accumulating silver in 10k to 20k Oz sizes with some regularity.

They do not seem to have issues locating supply.

At least not at the broker i use.

Thu, 01/13/2011 - 11:51 | 873038 PaperWillBurn
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I don't see much bullion for sale in Thailand but it's not because of the demand it's because of the LACK of demand. I'm sure manufacturers can find it but I just see a few necklaces here and there but noone ever wearing it.

Thu, 01/13/2011 - 18:59 | 874677 StychoKiller
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You don't leave the keys in the ignition for your Rolls Royce in the ghetto, either.

Thu, 01/13/2011 - 11:26 | 872968 Dapper Dan
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Sometimes I like to wear stretchy pants, just for fun.

 

But I always like to look at the 5 year chart of Gold, for seriousness.

Thu, 01/13/2011 - 17:18 | 874263 Best Satan in Town
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Not completely related to the post, but I have to share the experience I had today.

 

I was at the bank and I overheard a man advising a woman on her investments. He told the woman that the Fed could print as much as they want and it won't cause any inflation. He also recommended municipal bonds to her. I walked over to him and I said, "excuse me, I may have been eavesdropping, but did you tell that woman that the Fed can print as much as they want and it won't cause inflation"? He stammered a bit, "well, no, but, inflation doesn't have anything to do with printing money". I was a bit shocked really, "You do know that the Fed is directly monetizing treasury bonds right? This is inflationary". "Correlation doesn't imply causation," he ended with that.

I thanked him for holding a civil discourse on the subject, but they don't get more deluded than that.

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