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Gold And Silver Lose Bernanke Bump

Tyler Durden's picture


WTI crude started moving first but soon afte the US day session opened we saw EUR weakness, US strength and precious metals started to fade rapidly. Gold and Silver have now retraced the post-FOMC Bernanke-Bump, but remain above the Draghi-Day levels...



Chart: Bloomberg


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Mon, 10/15/2012 - 10:04 | 2890265 Mr. Fix
Mr. Fix's picture


Mon, 10/15/2012 - 10:08 | 2890276 GetZeeGold
GetZeeGold's picture



Sew it into your clothing.....amaze your friends.


Mon, 10/15/2012 - 10:16 | 2890312 Stackers
Stackers's picture

It only took 2 cartel interventions on the same day to do it too.

Mon, 10/15/2012 - 10:31 | 2890357 aka Gil
aka Gil's picture

Trader Dan saw this coming. Those pesky interventionists, they're all going to hell.

Mon, 10/15/2012 - 10:40 | 2890396 malikai
malikai's picture

I'm waiting for diverg to blow out. Until then I'm assuming it's going anywhere.

Mon, 10/15/2012 - 11:24 | 2890552 Badabing
Badabing's picture

Gold got hammered down $2 before the Asian market opened yesterday @5:15 pm to 6:00 pm

How does that happen?



Fucking banks!

Mon, 10/15/2012 - 14:23 | 2891466 Boris Alatovkrap
Boris Alatovkrap's picture

Boris is cannot pay high price for Gold... or Silver... but in Minsk is AK-47 ammo cheap for rubles. But is go up yesterday. Who is happen this!? FIJCKING Politburo!

Mon, 10/15/2012 - 14:24 | 2891467 Boris Alatovkrap
Boris Alatovkrap's picture

BTFD, so Boris is wait.

Mon, 10/15/2012 - 14:56 | 2891570 Silver Bully
Silver Bully's picture

'BTFD, so Boris is wait.

In Soviet Russia, gold buy YOU. Then send you to Siberia to find more.

Mon, 10/15/2012 - 11:28 | 2890558 otto skorzeny
otto skorzeny's picture

sewing it into your clothing worked out quite well for the Romanov women.

Mon, 10/15/2012 - 12:29 | 2890790 LongBalls
LongBalls's picture

Both gold and silver were floating to high above their 50 and 200 dma. The paper price is down. Who cares. BTFD. None of this means anything to those who understand the BASEL III agreements. Keep stacking people. YOU WILL BE REWARDED. Dig into Basel III if you need to strenghen conviction.

Mon, 10/15/2012 - 10:09 | 2890284 CPL
CPL's picture

Is it stil over my $8.67 buck average price?  Yup, 300% higher.  


...couldn't give a shit as long as they own a printing machine.  This is where the power of cost averaging over time counts.

Mon, 10/15/2012 - 11:14 | 2890526 dbomb12
dbomb12's picture

One word "GOLD AND SILVER MANIPULATION" Oh wait thats 3 words thanks.

Joe Biden

Mon, 10/15/2012 - 10:05 | 2890266 realtick
realtick's picture

Don't tell Turd & the Turdites...

Mon, 10/15/2012 - 10:08 | 2890280 Mr. Fix
Mr. Fix's picture

Too late,

We already know.........

Mon, 10/15/2012 - 10:11 | 2890297 Bay of Pigs
Bay of Pigs's picture

TF's recent calls are being monkeyhammered. He said 1770 would hold this time.


Mon, 10/15/2012 - 10:17 | 2890313 jmcadg
jmcadg's picture

Are there any other sites you want to try and ring TF out to dry on. It's one call dude among many right ones.

Mon, 10/15/2012 - 10:19 | 2890320 Abraxas
Abraxas's picture

Good boy! Now, sit! Good boy! Here's a treat.

Mon, 10/15/2012 - 11:08 | 2890506 The Shootist
The Shootist's picture

Everyone knows TA doesn't matter with the stupendous amount of market maniupulation. It's just zeros and ones on a screen. Just stack physical and run 'em dry.

Mon, 10/15/2012 - 11:43 | 2890600 FEDbuster
FEDbuster's picture

Yep, now on a steady diet of $200. worth of "junk" pre-64 silver coins every Saturday.  Sometimes I get a few more quarters, sometimes I get a few less.  Once a month ammo and storage food buy of about $200.  Best IRA I can imagine (I already have most of the other preps I need).

"If you can't stand in front of it and defend it with an AR-15, you don't own it."  Ann Barnhardt 2012

Mon, 10/15/2012 - 10:22 | 2890326 Bay of Pigs
Bay of Pigs's picture

What? I did no such thing. I read his blog and saw his call. 


Mon, 10/15/2012 - 10:30 | 2890356 Haole
Haole's picture

Cult mentality, your comment was completely valid.

Mon, 10/15/2012 - 10:31 | 2890362 jmcadg
jmcadg's picture

So you're in no way intimating that Turd is , well, full of shit? 

You're just stating a wrong call, on more than one website?

Fair enough, I hear your call.

Mon, 10/15/2012 - 10:34 | 2890375 zilverreiger
zilverreiger's picture

Is this you Klinky? liberal infiltrator go back to darkpurple haze and toke his waterpipe

Mon, 10/15/2012 - 10:40 | 2890400 Bay of Pigs
Bay of Pigs's picture


No, never had a beef with Turd, just with Mod Jane before she was canned.

Mon, 10/15/2012 - 10:44 | 2890413 aka Gil
aka Gil's picture

She was canned? Seriously?

Mon, 10/15/2012 - 11:39 | 2890588 gmrpeabody
gmrpeabody's picture


Mon, 10/15/2012 - 10:51 | 2890428 jmcadg
jmcadg's picture

Bay, if I misread your comment, apologies on my part. I dip in to TF every now and then, and think he speaks sense. He may not get the call right everytime, but I'm no disciple (of anyone), and I believe Mod Jane was/is the website moderator/developer that got arsy because she couldn't hack people suggesting she was charging over the odds for her work? Fuck knows who Klinky is?

I think we're on the same side!?!?

Mon, 10/15/2012 - 10:40 | 2890402 aka Gil
aka Gil's picture

BoP, you're a stand-up matter what Stephanie says about you.

Mon, 10/15/2012 - 10:22 | 2890323 fuu
fuu's picture

Who makes a call like, "$1770 will hold this time" after a $220 run in 8 weeks?


I liked Turd when he was posting here. When he decided to be a big guru I stopped paying attention.

Mon, 10/15/2012 - 11:43 | 2890596 oddjob
oddjob's picture

Flogging chinese made generators makes him a guru? way.

Mon, 10/15/2012 - 11:56 | 2890660 fuu
fuu's picture

"It slices a tomato so thin it only has one side!"

Mon, 10/15/2012 - 10:27 | 2890342 Cortez the Killer
Cortez the Killer's picture

Yes, Katie Rose is now so upside down from following TF's "advice" that she had to butcher her whole herd of goats.

Mon, 10/15/2012 - 10:32 | 2890366 zilverreiger
zilverreiger's picture

Praise Jesus, god has a plan for Turd this is just a test

Mon, 10/15/2012 - 10:50 | 2890441 Urban Roman
Urban Roman's picture

3 goats is a herd?

Mon, 10/15/2012 - 11:11 | 2890514 Hulk
Hulk's picture

Have you ever herd 3 goats ???

Mon, 10/15/2012 - 11:53 | 2890648 Urban Roman
Urban Roman's picture

No, but I think I'm going to go back and junk myself, just to be sure.

Mon, 10/15/2012 - 10:07 | 2890272 fonzannoon
fonzannoon's picture

Yeah this is awesome. I was not sure I would get another opportunity after the announced QE.

Mon, 10/15/2012 - 10:47 | 2890422 Urban Roman
Urban Roman's picture

Let's see, according to Wikipedia, Bernanke took office on Feb 1, 2006.

Eyeballing the Kitco historical charts for that date:

  • Gold:$567.00
  • Silver: $9.77

What was this article about, again?

Mon, 10/15/2012 - 10:07 | 2890274 LawsofPhysics
LawsofPhysics's picture

Funny, my  "ounces" are still the same.  The world is about to re-learn the difference between all things paper and all things physical again.


Mon, 10/15/2012 - 10:23 | 2890331 zorba THE GREEK
zorba THE GREEK's picture

Just to make sure, I weighed all my ounces, they haven't gone down at all.

@ $1720, the big boys will come in and buy. China loves an opportunity to

trade their U.S. fiat crap dollars for real money, especially when it goes on sale.

Mon, 10/15/2012 - 11:46 | 2890615 FEDbuster
FEDbuster's picture

Kinda like when the Bank of England sold much of their gold reserves around 1999-2001?  Average price around $300./oz.

Mon, 10/15/2012 - 10:43 | 2890407 DaveyJones
DaveyJones's picture

The world is a slow learner - I mean the primates

"Global Finance Chiefs at odds" - WSJ

Funny, I thought they were at wits end

anywhere but jail

Mon, 10/15/2012 - 10:07 | 2890275 tmosley
tmosley's picture

I'm going to buy some today, myself.

Mon, 10/15/2012 - 10:08 | 2890281 JPM Hater001
JPM Hater001's picture

I've hurried on to bullets.  You are behind the curve get going.

Mon, 10/15/2012 - 10:07 | 2890277 new game
new game's picture

stategic shift

slv>lead and compliment device...

Mon, 10/15/2012 - 10:08 | 2890279 adr
adr's picture

STFS!!!! BTFD!!!!

on the nanosecond level if you can

Mon, 10/15/2012 - 10:09 | 2890285 eigenvalue
eigenvalue's picture

Gold might break $1200 and silver $15.

Mon, 10/15/2012 - 10:10 | 2890291 GetZeeGold
GetZeeGold's picture



Yeah......on Mars.


.....and someday fairy pixie dust will be free.



Mon, 10/15/2012 - 10:48 | 2890317 Kaiser Sousa
Kaiser Sousa's picture

an ounce of Silver back down to $15 aye????

and which would still have more purchasing power....

a green piece of toilet paper  with Geroge Washington, Lincoln, or whoever the fuck is on the $10 debt coupon Fed Note or a 1964 Kennedy half dollar piece???????

wake up and go to sleep man......


Mon, 10/15/2012 - 10:49 | 2890430 JPM Hater001
JPM Hater001's picture

See now, Tinker Bell said the first one would be free but I've been paying through the nose since.

Mon, 10/15/2012 - 10:10 | 2890293 fonzannoon
fonzannoon's picture

At $1,500 China and India would start borrowing from the US to buy.

Mon, 10/15/2012 - 10:13 | 2890304 GetZeeGold
GetZeeGold's picture



Dammit.....totally forgot about those guys.


Mon, 10/15/2012 - 10:57 | 2890466 Nothing To See Here
Nothing To See Here's picture

They'll have to borrow from the Fed cause the US aint got no money to lend...

Mon, 10/15/2012 - 10:15 | 2890309 LawsofPhysics
LawsofPhysics's picture

Correct, rock, meet hard place. 

Mon, 10/15/2012 - 10:36 | 2890381 malikai
malikai's picture

Well I don't know about China and India, but at $1200, I'll be buying with my credit cards.

Mon, 10/15/2012 - 12:17 | 2890742 Toronto Kid
Toronto Kid's picture

Me too!  I watched that documentary last night on Argentina.  I now understand the perspective of those who dislike the IMF.

All my extra monthly cash now goes toward gold purchases.

Mon, 10/15/2012 - 10:12 | 2890298 Mr. Fix
Mr. Fix's picture


Mon, 10/15/2012 - 10:16 | 2890306 tawse57
tawse57's picture

Yes, looks like a Dollar rally into the US election is about to take loads of people by surprise.

I think the longterm trend for both silver and gold is much higher next year but, first, I suspect we are going to see an almighty correction in the next 2 to 3 months.

Not to worry for any of the gold and silver bugs here - after all, they intend to never sell any of their metals. Not even when they are on their deathbeds!?

Mon, 10/15/2012 - 10:32 | 2890367 LawsofPhysics
LawsofPhysics's picture

Depends when the currency collapses.  I suspect, that would be when many deploy their purchasing power.  That's what my grandfather did and why our family was able to build a business after the depression.  We continued buying PMs on the dips (just like all the central banks).  Wake the fuck up dude, this is about power, control and survival. Always has been.

Mon, 10/15/2012 - 10:49 | 2890424 DaveyJones
DaveyJones's picture

I hate when you put it that way especially when you're right. There will always be elections. Can't say the same for our fiat 

Mon, 10/15/2012 - 10:22 | 2890324 Carl LaFong
Carl LaFong's picture

Only if the cotton in the paper money becomes more valuable than gold...

Mon, 10/15/2012 - 10:49 | 2890431 Overfed
Overfed's picture

That would be quite the bargain. I would max my credit cards, get more credit cards and max them, too.

Mon, 10/15/2012 - 10:51 | 2890442 Quinvarius
Quinvarius's picture

Not in FRNs it won't.

Mon, 10/15/2012 - 10:55 | 2890455 SAT 800
SAT 800's picture

Very funny. Well, I usually anounce my trades here. let's remember, they're trades; they have stop losses; they exisit to make Bernanke Bucks, that I spend, okay? Everybody got now? Good. I bought Dec. Silver this morning for $33.14; Silver has a strong 14 day cycle; it has for twenty years; I don't care why. This should be the bottom for this month; so that's my opinion. If I'm wrong I'll try to wiggle out of it for a a 2500$ loss or so; if I'm right I expect it to trade at $35 in a month or so. We shall see.

Mon, 10/15/2012 - 13:51 | 2891368 silverserfer
silverserfer's picture

 only after you pay back that $400,000 you owe as part of the natoinal debt and we get back our AAA credit rating. Better start eating ramen every night eigenvalve

Mon, 10/15/2012 - 10:11 | 2890294 Shizzmoney
Shizzmoney's picture

I wish I could afford gold.

Fuck 401K.  Get some bullion and sit on a motherfucker.  Rake in the dough in 20 years.

Mon, 10/15/2012 - 10:18 | 2890315 Awakened Sheeple
Awakened Sheeple's picture

20 years...pfft

What's the over/under at for when this sham ends.. I give it 2 more years before the collapse.

Mon, 10/15/2012 - 10:35 | 2890377 CrimsonAvenger
CrimsonAvenger's picture

That's what I said two years ago, yet here we are.

Not saying it won't happen - it will. But I'll be damned if I can figure out the timing. These bastards are much more capable at stretching things out than I ever dreamed.

Mon, 10/15/2012 - 10:46 | 2890418 ParkAveFlasher
ParkAveFlasher's picture

Buy 2oz and call me in the morning.

Mon, 10/15/2012 - 14:00 | 2891376 silverserfer
silverserfer's picture

thats the conversation that was had at Bally when theu were first making pinball machines. There is no reason to go over 1000 points! Now you get a billion on 1 ball and a lot more dazzle. The bankers, pinball machines, FED all figure if they throw more flashy lights at you and add more zeros to your score, well you be a bigger winner in their book.   

Mon, 10/15/2012 - 11:00 | 2890468 Kaiser Sousa
Kaiser Sousa's picture

"I give it 2 more years before the collapse."


i agree...

btw: thAts a cool avatar homie...can u make one with the image of Bernanke getting his head blown off????



Mon, 10/15/2012 - 10:12 | 2890300 fuu
fuu's picture

More for me then I guess. Thanks Blythe!

Mon, 10/15/2012 - 10:12 | 2890301 Dr. Engali
Dr. Engali's picture

I just checked and my eagles still weigh an ounce each.

Mon, 10/15/2012 - 10:47 | 2890414 Frozen IcQb
Frozen IcQb's picture

I read ya.

BTW, your Eagles actually weigh more than an ounce each.

Mon, 10/15/2012 - 11:06 | 2890500 TheCanadianAustrian
TheCanadianAustrian's picture

Correct, about 1.1 ounces. And surprising to me, it has nothing to do with the metric system either. 32 troy ounces is just barely shy of 1kg.

Mon, 10/15/2012 - 10:12 | 2890302 TrumpXVI
TrumpXVI's picture

Franklin Sanders warned that this correction in gold was likely.  Gold needs to close above $1,740 or it will likely head lower.  Interestingly, it's basically tracking its most recent levels against the dow of about 7.6.

I not a buyer here; although one could.  But then, I'm pretty much committed already.

Mon, 10/15/2012 - 10:15 | 2890310 tawse57
tawse57's picture

Yes, $1,740 is the figure to watch at the close today. Going to be interesting.

Mon, 10/15/2012 - 11:06 | 2890498 Libertarian777
Libertarian777's picture

i love when technical analysts make commentary like that.


"gold will likely go higher, unless if it goes lower"

ok thanks genius

Mon, 10/15/2012 - 11:09 | 2890508 TheCanadianAustrian
TheCanadianAustrian's picture

God invented technical analysis to make astrology look good.

Mon, 10/15/2012 - 11:43 | 2890599 _underscore
_underscore's picture

TA is simply the condensed form of lots of buyers' / sellers' MO.  When people buy on upswings/downswings they're trading - like the recent surge after Ben & Drag etc.  It's only to be expected. What TA can do is look at the underlying trend(s) (..and there are several 'book's in play overlaying the basic trend..) , and give 'advice' at that point. FWIW, Franklin Saunders did predict this consolidation/correction, but the basic trend is still in place - so nothing to be afraid of. What I get from a lot of posters here is that 'whistling-in-the-dark' type of denial/bravado - it's so obvious. People who understand the fundamentals don't worry about these temporary market moves, it's expected, and is to be expected. As ever DYOR & understand fundamentals, otherwise you can frighten yourself. I'm waiting for a moving-average break point to occur, then may BTFD, or not, as the case may be.

Mon, 10/15/2012 - 11:45 | 2890614 quartshort
quartshort's picture

Many thanks for my first good laugh today...

Mon, 10/15/2012 - 10:13 | 2890305 fonzannoon
fonzannoon's picture

I wonder what name Schiff goes under on here...

Mon, 10/15/2012 - 10:17 | 2890314 EuroInhabitant
EuroInhabitant's picture

Hmmm, gold at $2.000 or even $10.000: gonna come anytime soon? Silver at $100, anyone? Or is it all JPM manipulation?

Mon, 10/15/2012 - 10:33 | 2890369 TrumpXVI
TrumpXVI's picture

My call (edumacated guess) all year has been for gold to close out the year around $1,800.  I don't see silver at $100 for a very long time.

That's my story and I'm stickin' to it.

Mon, 10/15/2012 - 11:51 | 2890640 EuroInhabitant
EuroInhabitant's picture

I think can shut its doors.

Mon, 10/15/2012 - 10:19 | 2890321 new game
new game's picture

new allocation

60% pm

10% lead

30% devices to propell

all else not savings...

Mon, 10/15/2012 - 10:25 | 2890336 SmallerGovNow2
SmallerGovNow2's picture

" but remain above the Draghi-Day levels"....

Not any more.  The great gold/silver smack down is underway.  See today's charts...

Mon, 10/15/2012 - 10:26 | 2890341 kito
kito's picture

gold pricing in romney, im telling you.........he is going to bring in a responsible fed chairman.....he will be the next reagan (who tripled the national debt, but thats not important), he will cut regulations, cut taxes, the dow will BOOM!!!!.....he will sprinkle free pixie dust all over the country..he said so....i believe him.............


....i just told my staff this morning that they HAVE to vote for ron paul or gary johnson or prepare for the end........they looked at me quite puzzled............ ;)

Mon, 10/15/2012 - 10:30 | 2890353 fuu
fuu's picture

Imma get me a Romney phone!

Mon, 10/15/2012 - 10:33 | 2890371 fonzannoon
fonzannoon's picture

I am watching a ton of individual stocks getting lit up while the indexes levitate. It's almost as if there was some funny business going on.

Mon, 10/15/2012 - 10:39 | 2890392 topspinslicer
topspinslicer's picture

Funny business in the stock market? Say it isn't so!!!!!

Mon, 10/15/2012 - 10:35 | 2890376 LawsofPhysics
LawsofPhysics's picture

I had got similar looks.  It's one thing when the average grunt talks like this and another thing altogether when the boss comes in and starts laying out a plan to keep business going through a collapse of the montary system.

Mon, 10/15/2012 - 10:38 | 2890389 fonzannoon
fonzannoon's picture

Whats the plan?

Mon, 10/15/2012 - 11:24 | 2890397 fonzannoon
fonzannoon's picture

Kito the goofy broad on cnbc (I know I know) just said gold dropping hard because POSITIVE ECONOMIC NEWS is leading economist to question the need for infinite QE. That's the msm explanation.....

Mon, 10/15/2012 - 12:24 | 2890772 Uncle Remus
Uncle Remus's picture

The only thing dropping hard is old silicone...


Mon, 10/15/2012 - 10:52 | 2890443 Overfed
Overfed's picture

He's got a super cape and collar to go with his magic underwear!

Mon, 10/15/2012 - 10:28 | 2890349 OutLookingIn
OutLookingIn's picture

Must be all those 'C' notes that disapeared off that plane from Dallas!

Mon, 10/15/2012 - 10:30 | 2890360 ParkAveFlasher
ParkAveFlasher's picture

Still Shiny.

This is awesome, I just got my bonus check. 

Sorry honey, no new teeth for you.  Daddy's got some money substitute that just went on sale!

Mon, 10/15/2012 - 10:41 | 2890405 topspinslicer
topspinslicer's picture

Teeth are over-rated -- nothing a toughened up set of gums can't handle

Mon, 10/15/2012 - 11:18 | 2890539 BigJim
BigJim's picture

I think Frank covered this one, too: 

Mon, 10/15/2012 - 12:25 | 2890778 Uncle Remus
Uncle Remus's picture


Mon, 10/15/2012 - 10:34 | 2890365 Quinvarius
Quinvarius's picture

The commercials needed to put up a price under 1735 to get some stops hit.  Their short position was too big.

Once they blow up as many noobs as they can, they will be covered enough to stop freaking out and make money doing it the right way--Long.  This looks pretty typical of a mid rally attempt to get out of shorts.

Mon, 10/15/2012 - 10:38 | 2890388 topspinslicer
topspinslicer's picture

I am hoping for sweet 16 ($1600 that is) -- a man can dream can't he? A whole lot a shakin' goin' on

Mon, 10/15/2012 - 10:43 | 2890391 virgilcaine
virgilcaine's picture

A Post Bernank world coming, after 6 Yrs of radical beard stroking phd theories. The worst possible outcome for WS... a sane fed chair?

Mon, 10/15/2012 - 10:40 | 2890398 topspinslicer
topspinslicer's picture

I like silver because THEY like bombs

Mon, 10/15/2012 - 10:41 | 2890401 petolo
petolo's picture

The Felix Baumgartner metaphor . Instead of jumping stay on board and order more bullion.

Mon, 10/15/2012 - 10:43 | 2890408 Lewshine
Lewshine's picture

Amazing to watch the "automated" support of equities, while commodities get crushed with prejudice. Which leads one to ask, who the fawk can't see the objective??? BTFD..In spite of the logic they impose.

Mon, 10/15/2012 - 10:44 | 2890412 Bansters-in-my-...
Bansters-in-my- feces's picture

Looks like the U.S.A Exchange Stabilization Fund hard at work today.

Ps....Fuck you's Timmy and Ben.

Mon, 10/15/2012 - 10:45 | 2890415 Mad Mohel
Mad Mohel's picture

Sold Bitchez!

Mon, 10/15/2012 - 10:47 | 2890417 virgilcaine
virgilcaine's picture

Romney may not like what he finds when he starts poking around in Fed closets. Lots of skeletons.

Mon, 10/15/2012 - 11:21 | 2890543 BigJim
BigJim's picture

Are you kidding? The more he finds, the more they'll bribe him to keep his orthodontically-enhanced mouth shut.

Mon, 10/15/2012 - 10:56 | 2890461 paddy0761
paddy0761's picture

The "handle" will probably be completed today or tomorrow. It looks like $1720 will hold, which is outrageously bullish. Initially the handle target was ~1688. This is perfect price action with the declining volume. Let Da Boyz do a bit of covering - we need them... to create buying opportunities.

Mon, 10/15/2012 - 11:13 | 2890521 ParkAveFlasher
ParkAveFlasher's picture

My inner Lars Schall put on a comfortable sweater this morning, just to read this comment.  +1.

Mon, 10/15/2012 - 11:00 | 2890473 jmcadg
jmcadg's picture

All set up to for Wynter Benton to prove beyond down if they are for real!

Mon, 10/15/2012 - 11:15 | 2890527 Threeggg
Threeggg's picture

I think it was a rumor spilled to frontrun the Expiry slam for this Friday. We shall see as they may be trying to ruin the Silvertard dream that these people actually exist ?

So I agree !

Mon, 10/15/2012 - 11:11 | 2890512 Threeggg
Threeggg's picture

This happens every third Friday of the month and it's called Stock Options Expiry. Thats why we see the massive manipulation. Dont want those "in the money" calls making any money as that game is only reserved for the banks.

We are all fighting against a printing press !

Rest in Peace Price Discovery.........................

Mon, 10/15/2012 - 11:17 | 2890532 Yardfarmer
Yardfarmer's picture

this was all priced in from the beginning. bernank buys toxic MBS from banks leverage derivatives, banks buy treasuries with thethin air fiat and goose the dollar. gold and silver capped as usual. ho hum. i'm not buying it, and i'm certainly not selling metals. go play with your bathtub bubble ponzis you f*#!n crooks. fleece the paper trading sheep. you can't touch the physical. 

Mon, 10/15/2012 - 11:19 | 2890540 MFLTucson
MFLTucson's picture

More of the same courrpt bullshit that we have grown accustom too,..  These fucking gangsters that manipualate Gold and Silver like JP Morgam need to be put in jail but they have been blessed by the devil they serve!

Mon, 10/15/2012 - 12:11 | 2890715 Bastiat009
Bastiat009's picture

Did they manipulate gold prices from $600/oz to $1800?

Mon, 10/15/2012 - 12:36 | 2890825 fuu
fuu's picture

Yes. The currencies gold is measured in are manipulated on a daily basis by the central banks that control them. The price of gold is manipulated up, down, and sideways.

Mon, 10/15/2012 - 12:06 | 2890700 Bastiat009
Bastiat009's picture

QE is good for the US$, US banks, US unemployment, US confidence ... Is Bernanke the king or what?

Seriously, gold has been waiting for the QE3 things for month and does nothing? Is gold really worth holding?

Mon, 10/15/2012 - 12:33 | 2890788 fuu
fuu's picture

Somehow I just knew you were going to show up toady, err today.

Mon, 10/15/2012 - 12:41 | 2890844 jimmyjames
jimmyjames's picture

Seriously, gold has been waiting for the QE3 things for month and does nothing? Is gold really worth holding?


I wonder if you ever bother to look at a chart-

Gold bottomed in May around 1580 and climbed to 1780 with no QE-

What more to you expect?

Your gold calls since the bottom have discredited you-

Mon, 10/15/2012 - 16:10 | 2891776 Bastiat009
Bastiat009's picture

I don't make calls, I just look at the market. Gold was higher last year. Gold has been going down for days.

I confess that I really don't know what is going to happen. I don't own a crystal ball. I don't know what people will do. I barely understand why they do what they do, how can I know what they will do. I don't know if gold will go up or down tomorrow. 

Mon, 10/15/2012 - 18:28 | 2892360 fuu
fuu's picture

Yet you never seem to come share your insights when it is up for whatever reason. Why the one-sided approach to commenting on a subject?

Mon, 10/15/2012 - 12:10 | 2890712 DUNTHAT
Mon, 10/15/2012 - 12:20 | 2890758 sink critically
sink critically's picture

We need an index for physical gold and silver which includes average delivery costs. Not this electronic see spot run backwards crap.

Mon, 10/15/2012 - 12:20 | 2890759 Uncle Remus
Uncle Remus's picture

Of course prices are down - I got my usual email from APMEX - no bargains on the premiums though. That only occurs when they can make a killing on the upswing.

Mon, 10/15/2012 - 13:06 | 2890932 Imminent Collapse
Imminent Collapse's picture

How long can this keep going on?  - Marvin Gaye

Mon, 10/15/2012 - 13:55 | 2891384 DowTheorist
DowTheorist's picture

Hopefully, gold and silver undergo a significant pullback. This would be good news for the astute investor since:

a) if it continues (i.e. 5% pullback in gold a 10% pullback in silver) it may provide a good entry point for latecomers still on the sidelines.

b) for those already "in," with a long position, the secondary reaction will provide a higher trailing stop, thus helping to lock in profits.

More on how to "use" or even "abuse," the secondary reaction for your benefit, here:

Mon, 10/15/2012 - 13:58 | 2891393 toomanyfakecons...
toomanyfakeconservatives's picture

Got my silver and gold today bitchez!

Mon, 10/15/2012 - 14:04 | 2891402 ActionFive
ActionFive's picture

Look ahead-

They are going to blow through the debt ceiling.

There will be a downgrade on us rating.

QE to infinity.

Metal inventories dropping.

Debt to GDP.

Fed buying auctions.

Inflation in what you buy.


Stocks have risen.

Anyone watching from last year will tell you this is bad for PMs and crude./sarc?

Mon, 10/15/2012 - 16:19 | 2891798 yoshinator
yoshinator's picture

This is the only thing that concerns me about the price of gold. Everyone says that when a stock goes parabolic shit is about to hit the fan and its about to crash hard. Look at this historical gold chart and comment. I have 50 grand in gold so I'm a little concerned.

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