Gold Touches 2012 Highs

Tyler Durden's picture

Spot Gold just jumped above its February 2012 highs to trade at $1791.45. This is the highest since November 2011 as the precious metals continue to outperform stocks post-QEternity.

 

Chart: Bloomberg

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GetZeeGold's picture

 

 

Did NOT see it coming.

 

MillionDollarBonus_'s picture

I am deeply concerned about some of the gross inequality in investment performance among retail investors. While some portfolios have experienced 6 figure percentage gains, others haven't been so lucky. The disparity in returns across investment portfolios is estimated to be at an all-time high, with the very top portfolios earning in excess of 200% annually, and some of the least fortunate portfolios losing 50% or more of their equity. We urgently need to address this imbalance in America or we risk creating a society with a small group of elite overlords with consistently positive investment returns, while ordinary average Joe's continue to lose money in the markets. This is why I encourage congress to consider the "Equal Opportunity in Investments Act" (or EOIA), which introduces  a windfall tax on annual profits in excess of 20% of account equity. At the end of each tax year, unfortunate investors will be permitted to claim a refund for any loss in excess of 5%.

True.North's picture

As long as we get to re-distribute your million dollar bonus as well...

GetZeeGold's picture

 

 

 

Dude.....leave MDB alone. Can't you see he's deeply concerned?

Pinto Currency's picture

 

MDB, if a person was really concerned, they would focus on the central planning (cental banking) that results in the current disparity in wealth as opposed to a (centrally planned) tax on investment profits.

ebworthen's picture

That would end the circular reasoning circle jerk; and they are having so much fun.

Comay Mierda's picture

did you get your obama phone yet?

GetZeeGold's picture

 

 

I checked the UPS tracking......should arrive tomorrow.

 

tocointhephrase's picture

Yeah, like 100 in the room with 5 doing just that.

Dr. Richard Head's picture

Yes, while MDB's clap makes him pee slow, silver is a wdonerful cure....Oh wait....a slow clap of applause.  I gotcha.  Carry on.

azzhatter's picture

been working on that one for awhile haven't you?

Dr. Engali's picture

So what you are saying is that I can put all my money in Apple puts and if Apple doesn't blow up I can recoup my losses?  Hmmmmmm bet it all on black baby!

MillionDollarBonus_'s picture

You can only recoup annual losses in excess of 5%. So for example if you were to lose 15% on apple puts in a single year, you would be refunded for 10% of your starting acccount equity. 

ebworthen's picture

Would I get a free iPhone and a Terminator 2 poster too?

GeezerGeek's picture

In the spirit of Obama, I strongly suggest that your proposal be recast from Equal Opportunity to Equal Results. All investment income should be accumulated into a single government program and redistributed equally to all people residing in the US. That's the only fair way to truly spread the wealth around. Don't be so half-hearted in your recommendations.

ATM's picture

exactly. How can anyone be truly equal when other people are making better or worse returns or more or less income? For Christ's sake, why do we allow some people to be 7 feeet tall and play basketball or 6"7 and 320lbs and play professional football? It's completely unfair. All those bigger and smaller than the perfect size should be exterminated to level the playing field for normal middle class people!

ExhiledInMass's picture

"...We urgently need to address this imbalance in America or we risk creating a society with a small group of elite overlords with consistently positive investment returns, while ordinary average Joe's continue to lose money in the markets."

We're already there. That small group goes by the name U.S. Congress.

MeelionDollerBogus's picture

no need to tax it, just bail out the losers using newly printed money.

If you're going to go full retard, go full Krugman.

tocointhephrase's picture

I did, her mouth was wide open and squinting eyes yeeeha

giggler123's picture

I'm calling top -- when I see it that is ;)

machineh's picture

Just imagine if the Fed fools put their $85 billion a month of QE3 counterfeit into precious metals.

Maybe it would work ... ;-)

BeetleBailey's picture

Chuck the Fuck Evans needs to speak to Steve The Perv Liesman daily on cnBULLSHITbc - gold will hit 3k without much resistance.

kito's picture

markets are orgasmic....when ben prints its like sex......when evans speaks its like dirty sex......................

fonzannoon's picture

The only question is, when does this insanity cause gold to start rising in $100 increments and silver in $5 increments when these stupid rumors are dropped.

ATM's picture

We will eventually get there but not for a while. Now is the time to accumulate. When you start seeing those huge leaps up that will be when the shit is hitting the fan and then it's mostly too late.

Got me a few more this morning at a very nice price.

MeelionDollerBogus's picture

gold & silver already did that in 2011. Why worry? It doesn't matter. Silver can't stay down long while gold rises. Gold CAN'T avoid rising long-term because long-term and short-term the fiat currency + bond market cluster-fuck is truly destroyed.

machineh's picture

when evans speaks its like dirty sex......................

He is a silly bugger, isn't he?

monopoly's picture

Who could have known? Who could have possibly known this would happen? Who?

goldfish1's picture

Are you speaking of the Ryder Cup. Wasn't it fantastic? And the class of Phil Mickelson and, at the last, the honorable concession of Tiger Woods...truly a gentleman's game.

Ole' to Seve and the European team and captains. Ole'.

The Shootist's picture

I hate that Ole song, always sung by a bunch of greasers.

MassDecep's picture

"Who could have known? Who could have possibly known this would happen? Who?"

The programmer who wrote the algorithm. Everything is on purpose, Think like a criminal.

MeelionDollerBogus's picture

It's momentum-driven, data-driven, exceeding the capacity of all computers and all programmers. It's the market itself. It's reacting to the fraud & corruption acting within it, like a giant hive-mind. It has a repeating pattern of restoration, like homeostasis. Take a look and think about it.

2011 dec 27 gold 01 | goldpricemodel | 277 week ROC visual confirmation

MeelionDollerBogus's picture

I knew. Just follow my charts and it shows months ahead of predictions for gold spot & how to do it yourself - free of charge.

2011 dec 27 gold 01 | goldpricemodel | 277 week ROC visual confirmation

2012 09 18 277week roc 01 | goldpricemodel

azzhatter's picture

Roubini makes another great call

Pool Shark's picture

 

 

“Maybe it will reach $1,100 or so but $1,500 or $2,000 is nonsense,” Roubini said.

Great call Nouriel...

 

Bay of Pigs's picture

LOL. We heard all that at 500, 850, 1000 and 1500. Gold is going a lot higher than $2000.

This Golden Bull will stomp everything in sight in due time. Sinclairs 3500 target seems rather conservative now considering QEternity.

BeerBrewer09's picture

The problem is that everything we consume will be rising as well. At least we'll hold on to our purchasing power with metal.

What will milk and gasoline be per gallon with $3500 gold?

EscapeKey's picture

That is assuming gold and silver are not at present manipulated downwards by the establishment.

Oh sorry, that's just tinfoil talk.

ParkAveFlasher's picture

It's hard to manipulate when you don't have the real thing while more and more parties demand delivery.  It's hard to keep power if you don't use the printing press to keep key commodity prices in check via manifold subsidies, thus surpressing the price of milk and eggs.  All roads lead to gold.  It's hard to brainstorm any circumstance right now that ISN'T bullish for the money metals.

IAmNotMark's picture

What will milk and gasoline be per gallon with $35M gold?

After listening to the Evans interview, I should raise my target...

What will milk and gasoline be per gallon with $35Q gold?

Let's see...  if gold is $35,000,000,000,000,000 an ounce, I expect gas to be $1,000,000,000,000 a gallon.  A $1T bill with Obama on front...better known as an ObamaBuck.

GeezerGeek's picture

The price of milk will remain fixed at slightly under $4.00. Finding any on store shelves will be a problem, though.

machineh's picture

Forget gold, maybe we'd better buy a cow ...