This page has been archived and commenting is disabled.

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


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
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!


Silver doing it too, only faster and steeper:


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.,

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.

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.

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.

Tue, 11/06/2012 - 13:47 | 2952335 knukles
knukles's picture

"Blythe just tripped over her power cord."

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 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.

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


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?

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....


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...

Tue, 11/06/2012 - 14:20 | 2952471 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 | 2953014 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 | 2952271 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 | 2952360 GetZeeGold
GetZeeGold's picture



Pictures or it didn't happen.

Tue, 11/06/2012 - 14:37 | 2952532 thedrickster
thedrickster's picture

Longish bull type here but I have the same inclination.

Tue, 11/06/2012 - 14:51 | 2952589 Bay of Pigs
Bay of Pigs's picture

What dogshit are you peddling again?

Tue, 11/06/2012 - 15:27 | 2952726 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 | 2952275 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 | 2952277 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 | 2952351 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 | 2952472 fuu
fuu's picture

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

Tue, 11/06/2012 - 16:46 | 2953056 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 | 2954098 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 | 2956651 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 | 2952279 Confundido
Confundido's picture

The algos have been released....

Tue, 11/06/2012 - 13:36 | 2952282 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 | 2952422 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 | 2952284 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 | 2952285 Odin
Odin's picture

Here comes the "change"...

Tue, 11/06/2012 - 13:38 | 2952292 Confundido
Confundido's picture

What does it mean????

Tue, 11/06/2012 - 13:40 | 2952293 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 | 2952294 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 | 2952295 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 | 2952312 GetZeeGold
GetZeeGold's picture



Usually difference this time either.


Thanks CNBC.


Tue, 11/06/2012 - 13:38 | 2952303 Confundido
Confundido's picture

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

Tue, 11/06/2012 - 13:43 | 2952308 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 | 2952313 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 | 2952333 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 | 2952317 TrumpXVI
TrumpXVI's picture

I believe, IIRC, it might have been Cliff Droke over on 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 | 2952320 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 | 2952325 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 | 2952382 JLee2027
JLee2027's picture

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

Tue, 11/06/2012 - 14:53 | 2952601 Bay of Pigs
Bay of Pigs's picture

Yeah, and remember Romney is full of shit.

Tue, 11/06/2012 - 15:18 | 2952695 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.


Tue, 11/06/2012 - 13:45 | 2952329 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 | 2952337 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 | 2952340 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 | 2952342 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 | 2952433 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 | 2952554 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 | 2952618 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 | 2952740 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 | 2953023 yogibear
yogibear's picture

That's an easy one to figure out.

Tue, 11/06/2012 - 13:48 | 2952346 youngman
youngman's picture

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

Tue, 11/06/2012 - 13:51 | 2952353 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 | 2952361 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 | 2952669 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 | 2952370 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 | 2952661 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 | 2952373 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 | 2952607 slaughterer
slaughterer's picture

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

Tue, 11/06/2012 - 14:00 | 2952392 fuu
fuu's picture

Go go gadget money.

Tue, 11/06/2012 - 14:06 | 2952412 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 | 2952417 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 | 2952511 toothpicker
toothpicker's picture

They've been popping corks since they took down JFK

Tue, 11/06/2012 - 14:09 | 2952426 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 | 2952435 jomama
Tue, 11/06/2012 - 14:13 | 2952438 Divine Wind
Divine Wind's picture



Luvz me some Romney, Au, Ag and Pb.

Tue, 11/06/2012 - 14:19 | 2952463 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 | 2952500 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 | 2952508 thedrickster
thedrickster's picture 33 Liberty St.

Tue, 11/06/2012 - 14:46 | 2952568 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 | 2952573 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 | 2952593 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 | 2952670 frederic
frederic's picture

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


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 | 2952674 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 | 2952711 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 | 2952746 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 | 2952748 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 | 2952836 falak pema
falak pema's picture

My, Gold has joined the NBA rebound!!

Slam dunk!

Tue, 11/06/2012 - 15:58 | 2952878 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.


Tue, 11/06/2012 - 16:42 | 2953042 Tango in the Blight
Tango in the Blight's picture

Where are the HSBC algos?

Tue, 11/06/2012 - 18:23 | 2953355 toomanyfakecons...
toomanyfakeconservatives's picture

Not a dead cat bounce...

Do NOT follow this link or you will be banned from the site!