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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Fips_OnTheSpot's picture

Vertical, bitchez!

AllThatGlitters's picture

That's right bitchez!  Look at her go straight up!


Silver doing it too, only faster and steeper:


Does this mean Obommer is winning?

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.  

Dalago's picture

Yea, Gold, you take off your top!

fonestar's picture

suffer little paper-tards, come unto me

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.

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.,

GetZeeGold's picture



Buy gold ya hoes.

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.

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.

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...

Papasmurf's picture

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

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.

knukles's picture

"Blythe just tripped over her power cord."

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

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 it they? Us? We?...will be...God forbid..."disappointed." I firmly believe all of 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.

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.

Long-John-Silver's picture

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

MachoMan's picture

That must make it really difficult to cook.

Stuart's picture

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


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.

LongSoupLine's picture




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

LawsofPhysics's picture

And for that, I thank you.

fonzannoon's picture

The first of many up $100 days coming soon.

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.

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.

gmrpeabody's picture

The Euro craters first, then the dollar!

TPTB_r_TBTF's picture

how many milliseconds will i have between these two trades?

mrktwtch2's picture

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

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.

knukles's picture

Tanks for the memories...

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.

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





slackrabbit's picture

we have fiscal clifftoff!


VonManstein's picture

taint over yet folks

DOT's picture

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

Kaiser Sousa's picture

dont trust this move but it dont matter...

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


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.

francis_sawyer's picture

The 'terror' of Colorado Boulevard...