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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Mon, 10/01/2012 - 09:13 | 2844599 GetZeeGold
GetZeeGold's picture

 

 

Did NOT see it coming.

 

Mon, 10/01/2012 - 09:16 | 2844614 MillionDollarBonus_
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%.

Mon, 10/01/2012 - 09:19 | 2844629 True.North
True.North's picture

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

Mon, 10/01/2012 - 09:33 | 2844700 GetZeeGold
GetZeeGold's picture

 

 

 

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

Mon, 10/01/2012 - 09:47 | 2844735 Pinto Currency
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.

Mon, 10/01/2012 - 09:56 | 2844790 ebworthen
ebworthen's picture

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

Mon, 10/01/2012 - 11:55 | 2845282 JonNadler
JonNadler's picture

best troll parody ever!

Mon, 10/01/2012 - 09:19 | 2844631 Comay Mierda
Comay Mierda's picture

did you get your obama phone yet?

Mon, 10/01/2012 - 09:34 | 2844706 GetZeeGold
GetZeeGold's picture

 

 

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

 

Mon, 10/01/2012 - 09:20 | 2844645 JPM Hater001
JPM Hater001's picture

Slow Clap

 

Mon, 10/01/2012 - 09:22 | 2844649 tocointhephrase
tocointhephrase's picture

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

Mon, 10/01/2012 - 09:24 | 2844659 Dr. Richard Head
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.

Mon, 10/01/2012 - 09:21 | 2844647 azzhatter
azzhatter's picture

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

Mon, 10/01/2012 - 09:30 | 2844687 Dr. Engali
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!

Mon, 10/01/2012 - 09:48 | 2844756 MillionDollarBonus_
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. 

Mon, 10/01/2012 - 09:57 | 2844799 ebworthen
ebworthen's picture

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

Mon, 10/01/2012 - 10:02 | 2844816 GeezerGeek
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.

Mon, 10/01/2012 - 11:38 | 2845235 ATM
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!

Mon, 10/01/2012 - 09:46 | 2844749 ExhiledInMass
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.

Sun, 10/21/2012 - 00:52 | 2907354 MeelionDollerBogus
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.

Mon, 10/01/2012 - 09:19 | 2844630 tocointhephrase
tocointhephrase's picture

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

Mon, 10/01/2012 - 09:14 | 2844604 giggler123
giggler123's picture

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

Mon, 10/01/2012 - 09:15 | 2844613 rubearish10
rubearish10's picture

Gold is going vertigo!

Mon, 10/01/2012 - 10:09 | 2844845 machineh
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 ... ;-)

Mon, 10/01/2012 - 09:15 | 2844606 Dr. Engali
Dr. Engali's picture

Barbaric relic!

Mon, 10/01/2012 - 09:24 | 2844662 Dr. Richard Head
Dr. Richard Head's picture

I know a great tailor. 

Mon, 10/01/2012 - 09:35 | 2844709 GetZeeGold
GetZeeGold's picture

 

 

Does your tailor know Chuck Munger?

 

Mon, 10/01/2012 - 10:30 | 2844944 ParkAveFlasher
ParkAveFlasher's picture

Gold bitchez!

Mon, 10/01/2012 - 09:14 | 2844608 BeetleBailey
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.

Mon, 10/01/2012 - 09:18 | 2844623 kito
kito's picture

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

Mon, 10/01/2012 - 09:27 | 2844673 fonzannoon
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.

Mon, 10/01/2012 - 11:41 | 2845245 ATM
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.

Sun, 10/21/2012 - 00:58 | 2907361 MeelionDollerBogus
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.

Mon, 10/01/2012 - 10:11 | 2844847 machineh
machineh's picture

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

He is a silly bugger, isn't he?

Mon, 10/01/2012 - 09:15 | 2844610 monopoly
monopoly's picture

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

Mon, 10/01/2012 - 10:08 | 2844839 goldfish1
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'.

Mon, 10/01/2012 - 10:57 | 2845057 The Shootist
The Shootist's picture

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

Mon, 10/01/2012 - 10:35 | 2844954 MassDecep
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.

Sun, 10/21/2012 - 01:20 | 2907373 MeelionDollerBogus
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

Sun, 10/21/2012 - 01:18 | 2907371 MeelionDollerBogus
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

Mon, 10/01/2012 - 09:15 | 2844611 EscapeKey
EscapeKey's picture

 

Roubini Says Rogers’s $2,000 Gold ‘Utter Nonsense’

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOfwpkHV2clM&pos=5

Mon, 10/01/2012 - 09:22 | 2844650 azzhatter
azzhatter's picture

Roubini makes another great call

Mon, 10/01/2012 - 09:34 | 2844695 Pool Shark
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...

 

Mon, 10/01/2012 - 09:46 | 2844747 Bay of Pigs
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.

Mon, 10/01/2012 - 09:56 | 2844793 BeerBrewer09
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?

Mon, 10/01/2012 - 10:01 | 2844811 EscapeKey
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.

Mon, 10/01/2012 - 10:35 | 2844960 ParkAveFlasher
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.

Mon, 10/01/2012 - 10:06 | 2844833 IAmNotMark
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.

Mon, 10/01/2012 - 10:07 | 2844835 GeezerGeek
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.

Mon, 10/01/2012 - 10:12 | 2844853 machineh
machineh's picture

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

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