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Gold Gone Wild

Tyler Durden's picture





 

Following the biggest drop in almost five months, Gold has bounced hard off its 100DMA as it goes vertical - rising the most in two months. Breaking back above $1700, we can only speculate that this cross-asset class ramp is due to rumors that Bernanke is currently in the lead in Ohio... Spot Gold $1715 as we post...

 

Since the US equity day session, gold has gone parabolic - we suspect in order to lever stocks up to their pre-NFP levels as the correlation-drivers have been very active...

 

Heading back to recent highs...

 

Biggest rise in two months...after biggest drop in 5 months...

 

S&P futures have levitated on this gold strength to peak VWAP levels from Friday pre-NFP...enabling volume to exit

 

Charts: Bloomberg

 


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Tue, 11/06/2012 - 13:29 | Link to Comment Fips_OnTheSpot
Fips_OnTheSpot's picture

Vertical, bitchez!

Tue, 11/06/2012 - 13:32 | Link to Comment AllThatGlitters
AllThatGlitters's picture

That's right bitchez!  Look at her go straight up!  http://www.pmbull.com/gold-price/

 

Silver doing it too, only faster and steeper:  http://www.pmbull.com/silver-price/

 

Does this mean Obommer is winning?

Tue, 11/06/2012 - 13:35 | Link to Comment CClarity
CClarity's picture

Romney supporters pushing equities higher on Romney leading in Ohio rumors, Gold going up up up on Obama and more QE bets, or catastrophe in Europe and US fiscal cliff with Romney win or even just another 10 days of waiting while Ohio has to wait to count provisional ballots if too close on regular ballots today.  

Tue, 11/06/2012 - 13:36 | Link to Comment Dalago
Dalago's picture

Yea, Gold, you take off your top!

Tue, 11/06/2012 - 13:37 | Link to Comment walküre
walküre's picture

Boner time!

Tue, 11/06/2012 - 13:43 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Hard assets

Tue, 11/06/2012 - 13:44 | Link to Comment knukles
knukles's picture

Hard Boner Ass time :)

Tue, 11/06/2012 - 13:51 | Link to Comment fonestar
fonestar's picture

suffer little paper-tards, come unto me

Tue, 11/06/2012 - 16:11 | Link to Comment SWRichmond
SWRichmond's picture

The so-called 'forward-looking" markets are now looking forward to past the election, and the coming debt-ceiling raise.  Everyone knows one is coming, and then another.

Tue, 11/06/2012 - 21:39 | Link to Comment markmotive
Tue, 11/06/2012 - 21:48 | Link to Comment TwoShortPlanks
TwoShortPlanks's picture

If you people believe, as I do, that both the paper market and physical market are controlled by one-the-same, then cheering small gains is akin to cheering every time you car engine starts.

So I guess it depends upon the reliability of either your financial vehicle your automotive vehicle, or belief vehicle, really.

http://www.youtube.com/watch?v=_j56IiLqZ9U,

Tue, 11/06/2012 - 13:41 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Buy gold ya hoes.

Tue, 11/06/2012 - 13:38 | Link to Comment Janice
Janice's picture

Yep. TPTB know that Romney will win the election. Kick Bernake out, interest rates go up, collapse begins. I'm with Shadowstats, John Williams now, 20% inflation in 2013.

Velocity bitches.

Tue, 11/06/2012 - 14:11 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

Yeah, I'm not really sure why the election would be a catalyst for a gold ramp, not sure why "all the sudden" people would awaken the the realization that neither candidate will be able to prevent the collapse (or even come close).  Sandy is a good example of what's happening writ large, the commoners are trying to figure out where to get their next meal, gallon of gas, and any kind of source of warmth, while the owners are scoring sushi.

Goldman Sachs:

Pablo Salame, 46, one of three Goldman Sachs Group Inc. (GS) executives who oversee sales and trading, ate better. He posted a picture of 21 pieces of sushi on a Twitter account in his name on Oct. 29. “Only in NYC, Seamless Sandy sushi delivery in TriBeCa, Monday 730 pm,” the post said.

http://www.zerohedge.com/news/2012-10-31/how-wall-streets-bankers-survived-sandy

Tue, 11/06/2012 - 14:52 | Link to Comment mr. mirbach
mr. mirbach's picture

The vertical ramp has nothing to do with the election, since the gold bullion in the FED's vault in New York got wet thanks to Hurricane Sandy, now that it drying out it is starting to shrink...

Tue, 11/06/2012 - 16:30 | Link to Comment Papasmurf
Papasmurf's picture

You know when it gets wet, you get shrinkage.  Especially if you're in the pool.

 

http://www.youtube.com/watch?v=1cUNNKzj_Nc

Tue, 11/06/2012 - 13:40 | Link to Comment SilverDoctors
SilverDoctors's picture

Silver up nearly double percentage wise...up nearly 4% to $32.33!

Either the bullion banks just received word that the Bernanke Obama fix is in, or else Blythe just tripped over her power cord.

http://www.silverdoctors.com/with-all-eyes-on-polls-gold-silver-go-verti...

Tue, 11/06/2012 - 13:47 | Link to Comment knukles
knukles's picture

"Blythe just tripped over her power cord."

LOL
Thanks, I needed that.
Some small sanity in an increasingly uncivil insane world.

Tue, 11/06/2012 - 13:48 | Link to Comment disabledvet
disabledvet's picture

I would take a more "holistic" view. This time of truly historic volatility says to me the market is trying to price in a "hanging chad" scenario...the expense of which simply cannot be calculated. "When in doubt buy gold." I'm not sure this nation can handle a fight along the lines of 2000 and "Bush vs Gore"....yet so many are yearning for some type of "spectacle spectacular" I fail to see how...is it they? Us? We?...will be...God forbid..."disappointed." I firmly believe all of us...as citizens....will be firmly "disappointed" if that is the case. Yet sometimes you just can't get in the way of the brawlers...try as you might. I have a default setting of course...there is a war going on and my fanatical devotion to those troops and what they do grows by the hour.

Tue, 11/06/2012 - 19:56 | Link to Comment Silver Bully
Silver Bully's picture

'I'm not sure this nation can handle a fight along the lines of 2000 and "Bush vs Gore"'

Dude, if we have another contested election, it'll make Bush v. Gore look like a slap fight.

Tue, 11/06/2012 - 13:50 | Link to Comment Central Wanker
Central Wanker's picture

I prefer bitchez horizontal.

Tue, 11/06/2012 - 14:05 | Link to Comment Long-John-Silver
Long-John-Silver's picture

I prefer Bitchez in any position as long as I'm up.

Tue, 11/06/2012 - 15:21 | Link to Comment MachoMan
MachoMan's picture

That must make it really difficult to cook.

Tue, 11/06/2012 - 13:58 | Link to Comment Stuart
Stuart's picture

I love the smell of burnt shorts in the morning....

 

Tue, 11/06/2012 - 14:47 | Link to Comment Urban Redneck
Urban Redneck's picture

I actually like trading fiat for physical, and since I still have some fiat left, I may have to go cold turkey until those shorts come back.

Tue, 11/06/2012 - 14:40 | Link to Comment LongSoupLine
LongSoupLine's picture

 

 

 

one fucking huge trap today.  This is a paper jam up your ass fest folks!

Tue, 11/06/2012 - 13:30 | Link to Comment FROZENOJFUTURES
FROZENOJFUTURES's picture

BITCHEZ, BITCHEZ!

Tue, 11/06/2012 - 13:32 | Link to Comment THX 1178
THX 1178's picture

Riches, bitchez!

Tue, 11/06/2012 - 13:37 | Link to Comment EscapeKey
EscapeKey's picture

Bitchez, bitchez, bitchez.

Tue, 11/06/2012 - 20:01 | Link to Comment Silver Bully
Silver Bully's picture

Big booty bitchez, bitchez?

http://www.youtube.com/watch?v=nlMpt4ucH2U

Tue, 11/06/2012 - 13:31 | Link to Comment LawsofPhysics
LawsofPhysics's picture

And for that, I thank you.

Tue, 11/06/2012 - 13:32 | Link to Comment fonzannoon
fonzannoon's picture

The first of many up $100 days coming soon.

Tue, 11/06/2012 - 13:36 | Link to Comment LawsofPhysics
LawsofPhysics's picture

To be honest, I'd be happier if the historical Gold:Silver ratio was re-established.  I think this will be the real tell.  But again, there is a difference between the physical and paper world.  This may simply be paper sloshing around ahead of the coming bond auctions.  a true lack of faith and system reset will result in a bidless market, then you won't find physical at any fiat price.

Tue, 11/06/2012 - 13:36 | Link to Comment fonzannoon
fonzannoon's picture

Maybe it will be along the way. This asshole is going to get another term. Amazing. They won't even get the dollar to hang on a few more months under the perception that Romney would have been different.

Tue, 11/06/2012 - 13:46 | Link to Comment gmrpeabody
gmrpeabody's picture

The Euro craters first, then the dollar!

Tue, 11/06/2012 - 15:38 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

how many milliseconds will i have between these two trades?

Tue, 11/06/2012 - 13:31 | Link to Comment mrktwtch2
mrktwtch2's picture

so we have mr bo jangles for 4 more years??

Tue, 11/06/2012 - 13:34 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Gold will be gold.  Whoever Chairs the Fed has to buy time.  I doubt Romney has the stomach for a civil war.

Tue, 11/06/2012 - 13:48 | Link to Comment knukles
knukles's picture

Tanks for the memories...

Tue, 11/06/2012 - 13:59 | Link to Comment LawsofPhysics
LawsofPhysics's picture

" I doubt Romney has the stomach for a civil war."

-------------------------------------------------

Then you are not familiar with relatively recent Mormon history.  The mormons have been among the most efficient killers and insurer of peace (for their believers anyway) in the west.  They do the job right and make sure no survivers or evidence is found.  Please, do a little homework.

Tue, 11/06/2012 - 14:03 | Link to Comment Overfed
Overfed's picture

Mountain Meadows.

Tue, 11/06/2012 - 14:31 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Thanks.  Why do homework with all the eager beavers around?

What did the Mormons do to be so paranoid, discover a gold mine?

What did they do to get off with a single scape goat execution, give up the gold.

Chilling?  144 (12 x 12) years before 9-11 to the day.

Tin foil chinstrap...ON

 

 

 

 

Tue, 11/06/2012 - 13:31 | Link to Comment slackrabbit
slackrabbit's picture

we have fiscal clifftoff!

 

Tue, 11/06/2012 - 13:31 | Link to Comment VonManstein
VonManstein's picture

taint over yet folks

Tue, 11/06/2012 - 13:32 | Link to Comment malikai
Tue, 11/06/2012 - 13:32 | Link to Comment DOT
DOT's picture

Time to restock after all those canoes went down during Sandy.

Tue, 11/06/2012 - 13:32 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

dont trust this move but it dont matter...

until Silver is well over $50 per oz  im still buyin....

FUCK YOU BERNANKE......

Tue, 11/06/2012 - 13:45 | Link to Comment lynnybee
lynnybee's picture

dont trust this move but it dont matter...

until Silver is well over $50 per oz  im still buyin....

FUCK YOU BERNANKE...     (normally, i don't swear) , but, DOUBLE THAT FOR ME, THAT S.O.B. should be in cuffs.

Tue, 11/06/2012 - 14:07 | Link to Comment francis_sawyer
francis_sawyer's picture

The 'terror' of Colorado Boulevard...

Tue, 11/06/2012 - 14:20 | Link to Comment Karl von Bahnhof
Karl von Bahnhof's picture

Well, but soon we might change to:

Fuck you Yellen!

Sounds good as well.

Tue, 11/06/2012 - 16:32 | Link to Comment yogibear
yogibear's picture

Wicked Witch of the West leagued together with the Wicked Witch of the East to conquer the Land of Oz. 

She loves brooms.

According to Fed Salary figures released for 2009, Yellen earned $410,000 that year as San Francisco Fed President, more than twice Chairman Ben Bernanke ($199,700) whose pay is limited by law.

Yellen is Jewish,[9] and is married to George Akerlof, a Nobel prize-winning economist and professor emeritus at the University of California, Berkeley. Her son, Robert Akerlof [10] was a postdoctoral associate in Applied Economics at the MIT Sloan School of Management.[11] He is now an assistant professor at theUniversity of Warwick.[12]



Tue, 11/06/2012 - 13:36 | Link to Comment slaughterer
slaughterer's picture

Great time to sell your gold/silver before Romney wins.    I sold every piece of paper gold/silver i own on this hockey stick.  Thank you whoever.  

Tue, 11/06/2012 - 13:52 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Pictures or it didn't happen.

Tue, 11/06/2012 - 14:37 | Link to Comment thedrickster
thedrickster's picture

Longish bull type here but I have the same inclination.

Tue, 11/06/2012 - 14:51 | Link to Comment Bay of Pigs
Bay of Pigs's picture

What dogshit are you peddling again?

Tue, 11/06/2012 - 15:27 | Link to Comment Mad Mohel
Mad Mohel's picture

Someone buy this kid some paper back, so he can wipe his ass with it when he shits himself.

Tue, 11/06/2012 - 13:37 | Link to Comment EL INDIO
EL INDIO's picture

On Friday it went down in a free fall fashion so it’s normal for that action to be reversed.

However, in the medium term it looks heavy and might keep drifting lower.

Tue, 11/06/2012 - 13:34 | Link to Comment GraveyardSpiral
GraveyardSpiral's picture

With the "Gold Gone Wild" theme and a look at that hockey stick, I'm getting a huge rise in my pants thinking that other people's stupidity CAN pay off!!!

Tue, 11/06/2012 - 13:49 | Link to Comment knukles
knukles's picture

May also be the rebound necessary to establish a solid handle to the cup....

Just sayin'...

Tue, 11/06/2012 - 14:21 | Link to Comment fuu
fuu's picture

Kitco showing strong Loch Ness Monster formations in both gold and silver.

Tue, 11/06/2012 - 16:46 | Link to Comment Freegold
Freegold's picture

In the lead with Jon Nadler @ Kitco has this little gem: Vedant Mimani, lead portfolio manager of the Atyant Capital Global Opportunities Fund said that “the gold market is [also] beginning to think about when the Fed will change monetary policy and questioning the “validity of the asset reflation thesis. We believe this re-think process is just getting started.”

Oh yeah, the FED will let intrestrates rise and gold will tank... Hahahahahahahahahahahaha  Thank you Jon and Vedant, i needed a good laugh :)


Tue, 11/06/2012 - 23:59 | Link to Comment TGR
TGR's picture

Nadler's delusional, self-aggrandizing personality probably thinks "In the lead" means being out in front. To normal people in this case, it reads "In the lead" as in the dull grey, poisonous heavy metal variety.

Wed, 11/07/2012 - 12:51 | Link to Comment Freegold
Freegold's picture

It seems like his mission is to get people out of gold. Never ever called anyone "a paid schill" but he makes me spend time with the thought ;-)

Tue, 11/06/2012 - 13:35 | Link to Comment Confundido
Confundido's picture

The algos have been released....

Tue, 11/06/2012 - 13:36 | Link to Comment zebrasquid
zebrasquid's picture

Almost bought puts on GLD yesterday, to hedge a Romney win.

Still think Romney wins tonight.   As Peggy Noonan points out today, Romney has been looking like his internal polling shows him the winner while Jug Ears has been looking like he's just going through the motions, knowing he's on his way out of the Big House, to being a slightly more respected Montel on some daytime cable show.

Tue, 11/06/2012 - 14:09 | Link to Comment tsx500
tsx500's picture

sorry, but i've gotta call you on the 'slightly more respected' part of your comment ....

Tue, 11/06/2012 - 13:35 | Link to Comment slaughterer
slaughterer's picture

They are saving up the AAPL ramp job until the last hour of cash trading.  Wump wump.  

Tue, 11/06/2012 - 13:35 | Link to Comment Odin
Odin's picture

Here comes the "change"...

Tue, 11/06/2012 - 13:38 | Link to Comment Confundido
Confundido's picture

What does it mean????

Tue, 11/06/2012 - 13:40 | Link to Comment Monedas
Monedas's picture

Gold Damn it !    This is more fun than examining taint smears under a microscope in a lab coat !

Tue, 11/06/2012 - 13:38 | Link to Comment Winston Churchill
Winston Churchill's picture

Is it now?

The start of the prophesized divergence between Phyz , and paper futures.

Got Phyz ?

Tue, 11/06/2012 - 13:37 | Link to Comment Al Huxley
Al Huxley's picture

What!!?  What the hell is up with this?  I was assured by the usual suspects that I could sell my gold at 1700 and buy it back at 1550?  What could possibly be behind this move?  (other than uncrontrollable, unresolvable debts and deficits, and corresponding massive monetization by every country in the western world, I mean...)

Tue, 11/06/2012 - 13:40 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Usually wrong.....no difference this time either.

 

Thanks CNBC.

 

Tue, 11/06/2012 - 13:38 | Link to Comment Confundido
Confundido's picture

Bitchez, look at the action in Treasuries....

Tue, 11/06/2012 - 13:43 | Link to Comment Zero Govt
Zero Govt's picture

Oh Flip, rushed in here coz i thought it was "GIRLS Gone Wild"

...luv those vids/sluts ...maybe next time on ZH.. ho hum :7

Tue, 11/06/2012 - 13:41 | Link to Comment Bastiat
Bastiat's picture

Rumor is that the Fed is handing out bundles of $20s outside the polling places -- just a rumor though.

Tue, 11/06/2012 - 13:56 | Link to Comment Zero Govt
Zero Govt's picture

at $40bn a month Bubbles is full-time down on Wall Street with the trucks offloading it on the bankrupt gambling bums ..he won't be coming around the country anytime soon with relief for Main Street, it's not in the nature of parasites to mix with productive people

Tue, 11/06/2012 - 13:42 | Link to Comment TrumpXVI
TrumpXVI's picture

I believe, IIRC, it might have been Cliff Droke over on Goldseek.com who wrote an interesting analysis earlier this past year about how it was likely that we would see increasing volitility in the gold price as the gold bull market matures into its later stages.  The bottomline was that there were likely greater trading opportunities ahead with the growing volitility; provided one isn't too faint of heart:-)

Tue, 11/06/2012 - 13:42 | Link to Comment Rearranging Dec...
Rearranging Deckchairs's picture

Or Maybe the market has woken up to the fact that no matter who wins the election the dollar is screwed and the deficit will never be reduced  and the debt never paid off.

 

Gold Bitchez!

 

Tue, 11/06/2012 - 13:44 | Link to Comment monopoly
monopoly's picture

"due to rumors that Bernanke is currently in the lead in Ohio... Spot Gold $1715 as we post..."

I did not know Bernanke was on the Ohio ballot. Wow. 

Tue, 11/06/2012 - 13:58 | Link to Comment JLee2027
JLee2027's picture

Translation: Bernanke keeps his job if Obama wins. Remember, Romney promised to fire him.

Tue, 11/06/2012 - 14:53 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Yeah, and remember Romney is full of shit.

Tue, 11/06/2012 - 15:18 | Link to Comment SillySalesmanQu...
SillySalesmanQuestion's picture

I live in Ohio....don't want that stinkin schmuck running anything! I thought Sandy had filled the void between his ears and short-circuited what was left of his brain.

FUCK YOU BERNANKE!!!

Tue, 11/06/2012 - 13:45 | Link to Comment caimen garou
caimen garou's picture

I think I'll just hold on to thoes cases of goldschlager! I love my $400 ounce gold!

Tue, 11/06/2012 - 13:47 | Link to Comment monopoly
monopoly's picture

Tyler, we would appreciate it from now on you would please bring a sandwich from home so you can stay in the office during lunch.

Thank you.  :)

Tue, 11/06/2012 - 13:48 | Link to Comment Canadian Dirtlump
Canadian Dirtlump's picture

I was looking at this just as I was about to place an election day order to show some love to my american best friends then saw this shit..

 

I am half ass thinking Blythe got the "buy silver and gold on election day" memo and took the morning off to cost us all a few extra bucks..

 

 

 

Tue, 11/06/2012 - 13:48 | Link to Comment Dr. Engali
Dr. Engali's picture

I see it like this.. Mitt wins; more spending , more deficits, and more debt.

Obama wins; more spending , more deficits, and more debt.

Gold wins no matter who is in.

Tue, 11/06/2012 - 14:11 | Link to Comment francis_sawyer
francis_sawyer's picture

I see it like this...

- Mitt wins & we're in WW3 by next March

- Teleprompter wins & we're forced fed fotos of his 'Wookie' looking wife for 4 more years

This one is really REALLY tough...

Tue, 11/06/2012 - 14:42 | Link to Comment walküre
walküre's picture

I take looking at 'Wookie' over senseless wars anytime. At least nobody has ever died from looking at 'Wookie'.

Tue, 11/06/2012 - 14:58 | Link to Comment jomama
jomama's picture

no to be picking the nits, but it's 'wookiee' :)

also, how dare you insult chewbacca like that?

Tue, 11/06/2012 - 15:32 | Link to Comment Obadiah
Obadiah's picture

Oh snap this shit is live right here on ZH

 

---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy

---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy

---I am not crazy---I am not crazy---I am not crazy---I am not crazy---I am not crazy

 

Yeah thats it

Tue, 11/06/2012 - 16:34 | Link to Comment yogibear
yogibear's picture

That's an easy one to figure out.

Tue, 11/06/2012 - 13:48 | Link to Comment youngman
youngman's picture

I wonder if the bond sale went bad?????

Tue, 11/06/2012 - 13:51 | Link to Comment Zer0head
Zer0head's picture

heard it drving just a while ago and said Oh no 4 more years

but then I said if Mittens were to win I think the markets would rocket

Tue, 11/06/2012 - 13:53 | Link to Comment knukles
knukles's picture

Who the fuck knows what's going on...

...and that's exactly why I own gold and silver....

Tue, 11/06/2012 - 15:09 | Link to Comment exi1ed0ne
exi1ed0ne's picture

And that my friend is exactly why shit sucks and we running outta burrito coverings.  No confidence that tomorrow will be better than today.

To the preciousmobile Au Man!

Tue, 11/06/2012 - 13:56 | Link to Comment JLee2027
JLee2027's picture

In hindsight, it should be obvious that the manipulation of Gold/Silver was especially heavy before the election so Obama could appear to be holding things together, and now with the campaigning finished, it can be let go a bit.

Tue, 11/06/2012 - 15:07 | Link to Comment Zero Govt
Zero Govt's picture

unless it's a Bull Trap or dead cat bouncing down the stairs

Tue, 11/06/2012 - 13:56 | Link to Comment FiatFapper
FiatFapper's picture

Gold is back @ month open; brent crude is more interesting as it has shot up past it's year open peg price.

Let the cats out the bag once the election bullshit is done & dusted.

Tue, 11/06/2012 - 14:55 | Link to Comment slaughterer
slaughterer's picture

Crude is the real story here.  Not gold and silver--those doomer metals. 

Tue, 11/06/2012 - 14:00 | Link to Comment fuu
fuu's picture

Go go gadget money.

Tue, 11/06/2012 - 14:06 | Link to Comment scatterbrains
scatterbrains's picture

this gold move is the fed and family secretly buying gold for their own accounts when ever the nyfed is in lifting stocks/printing.  Gold always tells the truth.  Just as I knew all of the pre employment ramp in stocks would collapse because gold wasn't trying to join the luv... here we have confirming that the fed is actively buying stocks today. Nothing more nothing less.

Tue, 11/06/2012 - 14:07 | Link to Comment pragmatic hobo
pragmatic hobo's picture

it looks like the top 0.01% are popping the corks on their champaign to congratulate themselves on job well done and looking forward to another 4 years of plundering the economy.

Tue, 11/06/2012 - 14:33 | Link to Comment toothpicker
toothpicker's picture

They've been popping corks since they took down JFK

Tue, 11/06/2012 - 14:09 | Link to Comment Anasteus
Anasteus's picture

In the end we'll all be happy; Obama, the most of Americans voting for him, Bernanke... and, particularly, the gold bugs.

Go, go, baby, go...

Tue, 11/06/2012 - 14:11 | Link to Comment jomama
Tue, 11/06/2012 - 14:13 | Link to Comment Divine Wind
Divine Wind's picture

 

 

Luvz me some Romney, Au, Ag and Pb.

Tue, 11/06/2012 - 14:19 | Link to Comment The Continental
The Continental's picture

Romney by 7 - it will be a romp and not even close.

What this has to do with gold and silver pop today is beyond me. Gold and silver are the only things to go to now, regardless of which puppet is installed as head Keynesian tool.

Tue, 11/06/2012 - 14:31 | Link to Comment hapless
hapless's picture

...weak hands getting stopped out last week realize that they had just fucked themselves.  Next time, use some lubricant.

Tue, 11/06/2012 - 14:32 | Link to Comment thedrickster
thedrickster's picture

Meanwhile.....at 33 Liberty St.

http://www.youtube.com/watch?v=sr0gNJ090JA

Tue, 11/06/2012 - 14:46 | Link to Comment kevinearick
kevinearick's picture

Beggar Thy Neighbor

Disentanglement is an illuision. Every time Bernanke prints digitally he impoverishes the European periphery, employing the US middle class to do so, under the Fed's monetary employment dictate, and labor has no interest in participating. As far as Canada's real estate bubble, significantly larger than America's per capita, the theory goes that Canada has far greater natural resources per capita to balance it, and Canada, like Switzerland, has a history of pulling out just before implosion reaches its horizon. I wouldn't bet that way. Canada has many decent people remaining, but they are too old to reproduce in the numbers required and the BC critters, like ugly Americans, have been traveling all over the world, flapping their ignorant gums. Employing boomers part-time at $10/hr, and teenage girls to process welfare, is not a plan to reboot. There is no exit for peer groups.

Dorothy Sayers

faithful - and he will be faithful - to the light which he sees so brilliantly. What he sees is the true light - only he does not see it directly, but only its reflection in the mirror of his own brain; and in the end that mirror will twist and distort the reflection.

Philippe-Paul Segur

We said among ourselves as we watched this stubborn, unbending giant wrestle...with the presentment that this first step [of leaving Moscow] would be his ruin...He (Napoleon) dreaded above all to be giving way. Any risk was preferrable to that! (suffering 500,000 casualties)

---

As soon as Simon Peter heard him say, "It is the Lord," he...jumped into the water.

Tue, 11/06/2012 - 14:47 | Link to Comment Freegolder
Freegolder's picture

We all know this is just paper/electronic trading right?

Gold in the physical world is being snapped up as fast as they can refine it, not to be seen again for a few years, when the dust has settled on the global currency collapses, and the paper gold market is no more.

These 'price' movments are irrelevant.

Tue, 11/06/2012 - 14:52 | Link to Comment gabeh73
gabeh73's picture

the timing and size of the moves tell me oil was/is thedriving force  over gold today. JMO

Tue, 11/06/2012 - 15:09 | Link to Comment frederic
frederic's picture

not sure why everybody is going wild (yet) : it all happened several times before. 

http://ubuntuone.com/6S0D3nfXOnkA40Bb8huiOY

 

Incidently, I traced back (I think) this rumor about the gold standard coming back on Jan 2013: I'm told that the Basel 3 rules allow banks to use gold as asset. 

Tue, 11/06/2012 - 15:10 | Link to Comment acrabbe
acrabbe's picture

watching this move today felt SO FUCKING GOOD bc i am fantasizing about those weeks where gold silver are limit up FOR WEEKS! This was a flash preview. I'm borrowing everything to buy more.

Tue, 11/06/2012 - 15:23 | Link to Comment WhiteNight123129
WhiteNight123129's picture

How about negative rates due to end of FDIC insurance on 1.7 TRillions + new pricing of Treasuries based on repo rate. Since artificial demand will be massive due to end of insurance on transactional accounts, the repo rate plunges and hte cost of funding on those new treasuries plunge. Negative short end, steepening curve, bullish for nominal GDP, bullish for true inflation, bearish for long bond, bearish for P/Es, COrporation s cash further tortured. True inflation (nominal wage increase) not necessarily the same as devaluation . Right now wages were indication little increase, while commodities (globally consumed) were indicating high pace of devaluation. The inflation could pick while the devaluation slows down (maybe not against the Yuan).

 

Tue, 11/06/2012 - 15:34 | Link to Comment orangegeek
orangegeek's picture

Gold falls $40 two days ago and is right back to where it started three days ago.

 

We be living in interesting times.

 

How 'bout that Dow - up 160 points on sweet FA.

Tue, 11/06/2012 - 15:35 | Link to Comment chenn
chenn's picture

I've been using this ramp to buy some GLD puts and hedge my current physical holdings.  If Romney wins I believe gold will fall due to a belief he will institue tighter monetary policy.  I'm not saying that is true but it is what many believe.  If that plays out I think gold may fall to the 1590-1620 level and I will use any money made with the options to buy more physical since I don't believe there is any stopping the dollar losing its buying power in the future.

If Obama wins or a Romney win doesn't cause gold to fall I will trade back out tomorrow and take whatever losses go with the hedge.

Tue, 11/06/2012 - 15:54 | Link to Comment falak pema
falak pema's picture

My, Gold has joined the NBA rebound!!

Slam dunk!

Tue, 11/06/2012 - 15:58 | Link to Comment silverserfer
silverserfer's picture

this is the start of some very choppy action over the next two months make sure you have your spew bag.

http://www.youtube.com/watch?v=ouDDj6kr1qo

 

Tue, 11/06/2012 - 16:42 | Link to Comment Tango in the Blight
Tango in the Blight's picture

Where are the HSBC algos?

Tue, 11/06/2012 - 18:23 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Not a dead cat bounce...

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