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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 | 2952247 Fips_OnTheSpot
Fips_OnTheSpot's picture

Vertical, bitchez!

Tue, 11/06/2012 - 13:32 | 2952261 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 | 2952283 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 | 2952287 Dalago
Dalago's picture

Yea, Gold, you take off your top!

Tue, 11/06/2012 - 13:37 | 2952299 walküre
walküre's picture

Boner time!

Tue, 11/06/2012 - 13:43 | 2952319 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Hard assets

Tue, 11/06/2012 - 13:44 | 2952328 knukles
knukles's picture

Hard Boner Ass time :)

Tue, 11/06/2012 - 13:51 | 2952358 fonestar
fonestar's picture

suffer little paper-tards, come unto me

Tue, 11/06/2012 - 16:11 | 2952934 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 | 2953806 markmotive
Tue, 11/06/2012 - 21:48 | 2953834 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 | 2952301 GetZeeGold
GetZeeGold's picture

 

 

Buy gold ya hoes.

Tue, 11/06/2012 - 13:38 | 2952297 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 | 2952434 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 | 2952590 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 | 2953005 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 | 2952309 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 | 2952335 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 | 2952347 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 | 2953593 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 | 2952352 Central Wanker
Central Wanker's picture

I prefer bitchez horizontal.

Tue, 11/06/2012 - 14:05 | 2952408 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 | 2952702 MachoMan
MachoMan's picture

That must make it really difficult to cook.

Tue, 11/06/2012 - 13:58 | 2952383 Stuart
Stuart's picture

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

 

Tue, 11/06/2012 - 14:47 | 2952578 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 | 2952543 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 | 2952248 FROZENOJFUTURES
FROZENOJFUTURES's picture

BITCHEZ, BITCHEZ!

Tue, 11/06/2012 - 13:32 | 2952264 THX 1178
THX 1178's picture

Riches, bitchez!

Tue, 11/06/2012 - 13:37 | 2952298 EscapeKey
EscapeKey's picture

Bitchez, bitchez, bitchez.

Tue, 11/06/2012 - 20:01 | 2953604 Silver Bully
Silver Bully's picture

Big booty bitchez, bitchez?

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

Tue, 11/06/2012 - 13:31 | 2952250 LawsofPhysics
LawsofPhysics's picture

And for that, I thank you.

Tue, 11/06/2012 - 13:32 | 2952260 fonzannoon
fonzannoon's picture

The first of many up $100 days coming soon.

Tue, 11/06/2012 - 13:36 | 2952272 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 | 2952290 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 | 2952331 gmrpeabody
gmrpeabody's picture

The Euro craters first, then the dollar!

Tue, 11/06/2012 - 15:38 | 2952780 TPTB_r_TBTF
TPTB_r_TBTF's picture

how many milliseconds will i have between these two trades?

Tue, 11/06/2012 - 13:31 | 2952254 mrktwtch2
mrktwtch2's picture

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

Tue, 11/06/2012 - 13:34 | 2952276 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 | 2952345 knukles
knukles's picture

Tanks for the memories...

Tue, 11/06/2012 - 13:59 | 2952385 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 | 2952399 Overfed
Overfed's picture

Mountain Meadows.

Tue, 11/06/2012 - 14:31 | 2952490 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 | 2952256 slackrabbit
slackrabbit's picture

we have fiscal clifftoff!

 

Tue, 11/06/2012 - 13:31 | 2952258 VonManstein
VonManstein's picture

taint over yet folks

Tue, 11/06/2012 - 13:32 | 2952263 malikai
Tue, 11/06/2012 - 13:32 | 2952265 DOT
DOT's picture

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

Tue, 11/06/2012 - 13:32 | 2952269 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 | 2952330 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 | 2952421 francis_sawyer
francis_sawyer's picture

The 'terror' of Colorado Boulevard...

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