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US Mint Gold Sales Surge To Highest Since 2009

Tyler Durden's picture





 

First it was a tripling of gold sales at the UK Royal mint, and now with just 23 days in the month of April gone, it is the US Mint's turn to reports that more gold has been sold month to date than any month since December 2009 when a record 231,500 ounces were sold. In one day, the mint sold yet another 13,000 ounces of gold, bringing the total to 196,500, or more than triple the 62,000 ounces sold in the previous month.

Will the US Mint be able to sell another 35,000 ounces in the remaining week of April, and surpass the all time monthly record from December 2009? Or will it run out of gold beforehand, and just like it did with the one-tenth ounce A.E. gold coins, will sales of all bullion denominations be halted in the comings days?

Stay tuned for this exciting conclusion.

One thing that is clear is that so far the plan to crush all popular interest in gold (and redirect it into stocks, or simple purchases of Made in China trinkets) conceived by the central-planning academics, scheming in dimly lit rooms, has backfired massively.

 


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Wed, 04/24/2013 - 17:33 | Link to Comment Oldballplayer
Oldballplayer's picture

Au, bitchez.

Wed, 04/24/2013 - 17:37 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

TPTB may have miscalculated the effects of taking gold down.

It looks like people are wising up and taking advantage of the

low prices.

Wed, 04/24/2013 - 17:39 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

maybe the masses wised up a while ago and the TBTF just got sucker punched...

Wed, 04/24/2013 - 17:46 | Link to Comment MonsterBox
MonsterBox's picture

Lets see... guns are in short supply, ammo, too.  now gold is disappearing.  bet silver is next.  time to load up while you can, while the paper fiat still has some value.  hold what's real.

Wed, 04/24/2013 - 17:51 | Link to Comment Praetorian Guard
Praetorian Guard's picture

Ahahahahaha, PM's are absolute SHIT... drink the PM Kool Aid all you guys want... PM TARDS...

Wed, 04/24/2013 - 17:52 | Link to Comment fonzannoon
fonzannoon's picture

That was compelling. Provocative even. I was bullish PM's but you just persuaded me otherwise. You sir should be in sales.

Wed, 04/24/2013 - 17:53 | Link to Comment Praetorian Guard
Praetorian Guard's picture

Bullish?!?!? Yea, and I have ocean front property in Zimbabwe for sale...

Wed, 04/24/2013 - 17:56 | Link to Comment fonzannoon
fonzannoon's picture

When you say oceanfront, do you mean like really oceanfront? I am hooked. Do your baseball people say ken phelps ken phelps?

Wed, 04/24/2013 - 17:56 | Link to Comment zaphod
zaphod's picture

Is this data right? It shows essentially zero buying prior to Jan-09, I find that doubtful.

Wed, 04/24/2013 - 17:58 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

O/T, but it looks like we finally have an answer to a longstanding question.

They will launch the new C-Note (with gold decorations, etc.)

See the story and the picture:

http://www.cnbc.com/id/100668881

Wed, 04/24/2013 - 18:00 | Link to Comment fonzannoon
fonzannoon's picture

I posted that earlier today dochen, respectfully, I think the big question is what do they do with the old C-note? What if they say "to avoid any further counterfeiting, anyone with old C-notes will have 3 months to convert to new ones"?

Wed, 04/24/2013 - 18:06 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Missed your post earlier.  Your question is very relevant.  For several reasons (IMO) they waited until last to replace the 100s.  If they are going to force out the old ones, the $-value of the 100s are WAY more than all the rest put together.

From now until, say, November, would be a great time to take those C-notes and buy some gold...

Or go spend them in Peru (Europe, etc.).

Wed, 04/24/2013 - 18:08 | Link to Comment Troll Magnet
Troll Magnet's picture

As someone who works closely with wholesalers (non-PMs), I can tell you that when prices fall, they stock up, thus driving the sales numbers higher and higher.  

I'm glad the US Mint is selling a lot of PMs but unless I hear my dumbass chatty neighbor talking about needing to buy gold/silver, I'll just remain calm and dollar cost average.  And sleep tight at night.

Wed, 04/24/2013 - 18:18 | Link to Comment nope-1004
nope-1004's picture

Hello neighbor.  When will you paint the fence, you lazy bastard?  I'm sick of looking at your fat wife and your gay son and his lover making out.

Oh... and did you know, I bought some silver yesterday?

Heard that spot price was a hoax.  Based on my research, it looks to be true.

C ya! 

 

PS.  When price falls for things of value, they get snapped up.  Your mental anguish over this being a bear or bull market is futile.  Look at the sales figures.  People are on to the crooked banks and are simply taking precaution.  I fail to see why they should be blamed for doing so.

 

Wed, 04/24/2013 - 18:24 | Link to Comment Troll Magnet
Troll Magnet's picture

Sure, "some" people might be waking up but if you want to see PMs go way up, you have a LOOOOONG fucking way to go because 99% of people are still asleep.  And they're broke, too.  Can't buy shit when you ain't got shit.  

Wed, 04/24/2013 - 18:11 | Link to Comment fonzannoon
fonzannoon's picture

"As someone who works closely with wholesalers (non-PMs), I can tell you that when prices fall, they stock up, thus driving the sales numbers higher and higher."

It's funny I would have replaced "sales numbers" with "price"...

Wed, 04/24/2013 - 18:27 | Link to Comment Troll Magnet
Troll Magnet's picture

not really.  do companies like apple and samsung or their retail outlets charge more for their smartphones just because sheeple want moar and moar of them?  

Wed, 04/24/2013 - 18:32 | Link to Comment fonzannoon
fonzannoon's picture

I am not a tech guy. I thought the price of technology was one of the few things that goes down over time.

 

Wed, 04/24/2013 - 18:16 | Link to Comment goldfreak
goldfreak's picture

that's what you don't see, how many new people do you hear talking about gold now who weren't months or a year ago? These aren't newbies chasing a bubble, they're people who've been watching this for years

We know what happened after 09, repeat ?

Wed, 04/24/2013 - 18:20 | Link to Comment Praetorian Guard
Praetorian Guard's picture

...and we know what happend in 1980... 30 year ROI? AHAHAHAHAHAHAHA...

Wed, 04/24/2013 - 18:22 | Link to Comment akak
akak's picture

Cherry pick much?

Wed, 04/24/2013 - 18:23 | Link to Comment fonzannoon
fonzannoon's picture

He's not cherry picking. He just exposed his retardation. It's all over the floor.

 

Wed, 04/24/2013 - 18:21 | Link to Comment fonzannoon
fonzannoon's picture

Yes they raised interest rates to 17%.

Is that your prediction? From QE4eva to 17% 10yr UST?

Wed, 04/24/2013 - 18:24 | Link to Comment Praetorian Guard
Praetorian Guard's picture

Eventually...

Wed, 04/24/2013 - 18:28 | Link to Comment fonzannoon
fonzannoon's picture

so there might be some complications that come along with that.

Wed, 04/24/2013 - 18:41 | Link to Comment FoeHammer
FoeHammer's picture

Yeah, a global sovereign debt crisis might be a little bump in the road to 17%.

 

Probably get war before the 10Y goes to 10%

Wed, 04/24/2013 - 18:28 | Link to Comment McMolotov
McMolotov's picture

Yeah, based on our debt, that's when the country goes into cardiac arrest and the dollar dies.

Wed, 04/24/2013 - 18:46 | Link to Comment oddjob
oddjob's picture

any ideas on what a 17% 10 year would do to the housing market?

Thu, 04/25/2013 - 22:49 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Then prove your claim: HOW. Right now we can see that any move of that nature would destroy the planet’s economy and CERTAINLY would end the United States for good. People would demand 20% returns on 3 month US Treasuries and it could not be paid. Ever. You know it. I know it.

Wed, 04/24/2013 - 19:06 | Link to Comment Meat Hammer
Meat Hammer's picture

Even MDB thinks you're an idiot.

Thu, 04/25/2013 - 22:47 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

That unique circumstance can’t be repeated – Volcker had to raise rates to what, 20% or was it 16% ? Go try that now. The entire planet will collapse economically all at once. All. Go for it. It’s not happening.

Wed, 04/24/2013 - 18:09 | Link to Comment McMolotov
McMolotov's picture

They totally should have made Ben Franklin red.

Wed, 04/24/2013 - 18:10 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

No, the red ones will be the new Obama $1000s...

Wed, 04/24/2013 - 18:50 | Link to Comment WmMcK
WmMcK's picture

No Grover Cleveland will return on the $1000s and he looks even fatter on the new design.

Thu, 04/25/2013 - 01:47 | Link to Comment StychoKiller
Thu, 04/25/2013 - 22:50 | Link to Comment MeelionDollerBogus
Wed, 04/24/2013 - 18:04 | Link to Comment Praetorian Guard
Praetorian Guard's picture

PM's, just like the housing bubble, will regress to the mean... one of many who think the religio nuts - Church of the PM Tards - are WRONG: http://www.johntreed.com/golddisadvantages2.html

Wed, 04/24/2013 - 18:05 | Link to Comment fonzannoon
fonzannoon's picture

It's true, it's just like housing. I clearly remember when housing crashed in 2008 while sales were going through the roof and there was no inventory. Yep that's how I remember it.

Wed, 04/24/2013 - 18:08 | Link to Comment Praetorian Guard
Praetorian Guard's picture

How quickly we forget - it's called MANIPULATION, and it cannot be controlled forever...

Wed, 04/24/2013 - 18:21 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

PG.  You just argued against your position.  Or are you just testing out the "dark meat" side of your brain?

Wed, 04/24/2013 - 18:21 | Link to Comment Praetorian Guard
Praetorian Guard's picture

No actually I did not. My inference is that GOLD prices are being manipulated UP, as in BUBBLE. Its a push, pull wallstreet manipulation to suck in people. Housing was manipulated up. PM's will crash.

Wed, 04/24/2013 - 18:29 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

I see.  You been ingesting much fish from the Pacific Rim of late, bub?

A "push, pull" manipulation - if such a thing existed outside of the gumball-laden vessel that is your head - would translate into unfettered volatility, which would deter people.

Wed, 04/24/2013 - 18:11 | Link to Comment akak
akak's picture

Praetorian Tard, honestly, are you paid to spout the egregiously idiotic anti-gold crap that you keep parroting here to no effect?  Because your arguments and your "logic" are so lacking in any trace of historical relevance or accuracy that you truly do appear to be pushing an anti-gold agenda rather than making a rational case for not holding gold (if such can even be made today).

One has to ask oneself why there are those, such as yourself, who are so inflamed by the investment/saving choices of others as to blindly attack them in ignorant rage.

Wed, 04/24/2013 - 18:16 | Link to Comment Praetorian Guard
Praetorian Guard's picture

Nope, but tired of you moronic expousers of "knowledge"... you fuckers have not thought through the whole PM, thing, now have you. Actually, no, you are wrong, plenty of historic references where GOLD WAS SHIT. Funny how when the paper boy tells you to buy stocks you laugh and say its time to punch out, but when its gold (PM's), they are savvy, and see the "writing on the wall", yea...

I have nothing against people investing. Plenty of other ways to make cash/assets. If you think PM's are going to save your ass with a global or dollar collapse (and I mean that in its true definition), than you are wrong... which is the general mentality of most here and other boards, public, etc... how quickly we forget...

Wed, 04/24/2013 - 18:20 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Up-arrowing your own posts do not make them better.

Wed, 04/24/2013 - 18:21 | Link to Comment fonzannoon
fonzannoon's picture

Please bestow on us examples in history of a currency crisis where gold was "shit".

Wed, 04/24/2013 - 18:23 | Link to Comment Praetorian Guard
Praetorian Guard's picture

So your own research. Do I look like your professor? If your grown enough to invest, you should be grown enough and educated enough to find the answer to pertinent questions...

Wed, 04/24/2013 - 18:25 | Link to Comment fonzannoon
fonzannoon's picture

I will take that as "I can't".

I will also take it that your comparison to 1980 means that massive interest rate hikes are coming.

So yes you do look like many of my professor's.

Wed, 04/24/2013 - 18:33 | Link to Comment Praetorian Guard
Praetorian Guard's picture

No, actually I have comparisons going back quite far... but alas, I'm not doing your research. Rates (Volker) were not the only factor...

Wed, 04/24/2013 - 18:27 | Link to Comment akak
akak's picture

And that, folks, is what it looks like when a weasel has had his ass spanked.

Thu, 04/25/2013 - 22:59 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

the challenge was put forth because we all did the research already to conclude in all history this “gold is shit” outcome has never happened even ONE time. Ever.

Wed, 04/24/2013 - 18:25 | Link to Comment akak
akak's picture

Allow me to anticipate his response:

When gold was "shit"

Wed, 04/24/2013 - 18:46 | Link to Comment bluskyes
bluskyes's picture

Perhaps he is referring to the theory that some bacteria either produce, or concentrate gold, and deposit it in rock formations. AFAIK this is based on the patterns that the gold takes on in certain deposits. If the organism indeed expels the gold, it could, in theory be considered shit.

Wed, 04/24/2013 - 18:25 | Link to Comment McMolotov
McMolotov's picture

...moronic expousers of "knowledge"...

ROFLMAO.

Wed, 04/24/2013 - 19:10 | Link to Comment akak
akak's picture

Yeah, really.

That was so AnAnonymystical, I almost expected PG to start babbling about "US 'american' citizenism".

Wed, 04/24/2013 - 20:34 | Link to Comment bluskyes
bluskyes's picture

He's doing what his name suggests - defending the current ruling establishment. Explains why he appears a little flustered, you would be too, if your world was being turned upside down:

https://en.wikipedia.org/wiki/Praetorian_Guard

Thu, 04/25/2013 - 22:53 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Gold to 5000 IS regressing to the mean – outstanding currency & revolving credit are a part of that. Having precious metals slam down is moving AWAY from the mean, not towards it.

http://www.kitco.com/ind/Holmes/images/Holmes_20110425_2.gif

Wed, 04/24/2013 - 18:05 | Link to Comment disabledvet
disabledvet's picture

That's interesting...if true. "greatest Wall Street sales pitch is hand out a fold or silver coin to a potential client." sure beats Ye Olde Golly Gee Genius pitch that apparently works quite well with the Government and various other "Big Cheese's" but "not for all of us peons who never grew up with a couple hundred billion to blow." still...gotta hand it to Bruce K and Company who "anticipated the Beserker Response" and larded up on Fannie and Fred debt. The term "priceless" to that "worthless asset" comes to mind.

Wed, 04/24/2013 - 17:56 | Link to Comment fuu
fuu's picture

YoY will easily be a dectuple.

Wed, 04/24/2013 - 18:02 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Has a new troll been released?  I didn't get a e-mail.

Wed, 04/24/2013 - 17:56 | Link to Comment McMolotov
McMolotov's picture

Your ideas are intriguing to me, and I wish to subscribe to your newsletter.

Wed, 04/24/2013 - 21:43 | Link to Comment nachtliche
nachtliche's picture

Such a mature response, I will be sure to follow your keen advise, I certainly do not want to be a "PM TARD".

Thu, 04/25/2013 - 15:06 | Link to Comment papaclop
papaclop's picture

You must not own any PMs. You do, however sound almost smart enough to work for the PM manipulators, JP Morgan or HSBC.

Wed, 04/24/2013 - 17:53 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Don't forget precision products made from 52100 steel!

Wed, 04/24/2013 - 17:56 | Link to Comment fuu
fuu's picture

wmd

Wed, 04/24/2013 - 18:06 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

52100 is too precious for weapons.  Even for barrels of hanguns.  :)

Wed, 04/24/2013 - 18:23 | Link to Comment StarTedStackin'
StarTedStackin''s picture

Silver NEXT?

 

 

LOL

 

My source had 46 different silver products 3 weeks ago, and now they have 6

Wed, 04/24/2013 - 19:12 | Link to Comment MonsterBox
MonsterBox's picture

Exactly.  Hit silver now.  if PMs are slammed again, it's over for buying physical for quite a while, like ammo and primers are.  check silver coin premiums.

Wed, 04/24/2013 - 18:02 | Link to Comment redpill
redpill's picture

There is definitely a shift.  I had multiple people tell me, unprompted, they went and bought physical after that price drop.

Wed, 04/24/2013 - 17:41 | Link to Comment McMolotov
McMolotov's picture

All the people holding "paper gold" better hurry the hell up. At some point, the poor bastards will go to get their gold, and there'll be a giant talking rubber moose in front of the building that says, "Sooorry folks, you're fucked."

Wed, 04/24/2013 - 17:44 | Link to Comment fonzannoon
fonzannoon's picture

Look at that chart up till Jan 2009. No one was buying any gold. Crazy. None.

Also look at the dropoff the month following the all time high. I wonder if the momentum stays this time. Last time the world was ending, this time the Stock market is just being morphined to the moon. What a different environment.

Wed, 04/24/2013 - 17:49 | Link to Comment tallen
tallen's picture

If you think gold is cheap, some of the miners out there are insanely cheap. Some trading at 1/2 book and 5x earnings. I know where I'm putting my money!

Wed, 04/24/2013 - 17:51 | Link to Comment fonzannoon
fonzannoon's picture

I hear you. I thought they were cheap a lot higher than here. I think a true price break from paper is the miners last chance. Otherwise they are just held hostage to paper.

Wed, 04/24/2013 - 18:05 | Link to Comment tallen
tallen's picture

Yeah lots of people have been burnt on the way down, I've been lucky not to buy into any until this week. At the current valuatons tho it's hard to see much more downside without gold collapsing below 1300 (Which I can't see any time soon)

Wed, 04/24/2013 - 17:54 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Interesting. Provide examples please.

Wed, 04/24/2013 - 18:07 | Link to Comment tallen
tallen's picture

IAG (P/B - 0.54, Forward PE 6.05, over $800M cash on the books, trading at a mkt cap of $2bn! )

HMY(P/B 0.55, Forward PE 4.5 (Riskier play, higher cost miner))

GSS(P/B 0.6, Forward PE 4.0)

SSRI for all you silver bulls trading at half book, or PAAS as a safer play.

There's loads of them, load up finviz, SEC. Some bargains to be had if you're bullish on gold/silver at the moment.

Be careful tho, some bad names out there! (JAG as an example of a bad miner, can't create income even at $1800, wouldn't be surprised if quite a few of the worse gold miner names go bust) If your long a good gold company, your in a great situation for when supply decreases and demand increases.

 

If you think the market consensus is bearish for gold, look at the miners. They're the most hated sector by far. Contrarian play. Buy low sell high.

Wed, 04/24/2013 - 19:22 | Link to Comment therover
therover's picture

Been buying up Goldcorp (GG) for the last month. Averaged at about $30 per. Got a nice pop so far this week, but this is a long term play for me. 

Also got positions in Eldorado and Pershing. I like the contrarian play as well and I agree the sector has been beat to a pulp.

As always, been purchasing physical gold every month as well as getting into 10 oz silver bars. I think I got enough ASE's at this point....premiums are a bit high now ( although one can never have enough) but will sneak a few of them into the mix every week or so. 

 

Wed, 04/24/2013 - 22:31 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Thank you; I may divert some of my refund check this way.

Thu, 04/25/2013 - 23:03 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Some of those miners will produce nothing & waste the money invested in them. How are you going to find out which ones are still over-priced at today’s “cheap” prices? Visit every such miner before you buy their stock? Demand a dividend payment in gold / silver rather than paper? Royal Silver by the way was paying SILVER BULLION dividends on a 2k or 5k bond. Not sure if they still are but they did.

Wed, 04/24/2013 - 17:50 | Link to Comment McMolotov
McMolotov's picture

Obama's first inauguration: the Dawning of the Age of Barbarians.

Thu, 04/25/2013 - 23:01 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Obarians :D

Wed, 04/24/2013 - 21:09 | Link to Comment Pareto
Pareto's picture

+100 for giant talking rubber moose in front of the building that says, "Sooorry folks, you're fucked."  Where do you come up with this shit man?  he he heeee

Wed, 04/24/2013 - 17:41 | Link to Comment Aguadulce
Aguadulce's picture

We all just bought 1 of Irelands entire national reserve this month so far.  BOOM!

Wed, 04/24/2013 - 20:43 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

"BOOM!"

The banksters are getting Djesselbloem'ed. 

Wed, 04/24/2013 - 18:04 | Link to Comment THECOMINGDEPRESSION
THECOMINGDEPRESSION's picture

They needed the Gold to melt it in the new $100 bill..now it will be closer to a real "thing"

Wed, 04/24/2013 - 20:40 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

"Au, bitchez."

My brain's verbal retelling of this:

"Awwwwwwww... BITCHEZ!"

Just received my latest order, promptly went fishing and tipped that fucking boat AGAIN, and am presently consoling myself with some presently undiluted Maker's.  

Wed, 04/24/2013 - 21:42 | Link to Comment F22
F22's picture

Who cares so little about cost that they'd pay the ridiculous premiums at the US Mint??

Wed, 04/24/2013 - 17:34 | Link to Comment kliguy38
kliguy38's picture

I'm SHOCKED ...I tell you........SHOCKED

Wed, 04/24/2013 - 17:37 | Link to Comment fonzannoon
fonzannoon's picture

Is tomorrow some sort of options expiration so we can all watch the rollover 1981 scene play out for real?

Wed, 04/24/2013 - 20:44 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

I keep feeling like that movie should have incorporated Lou Diamond Phillips in some way or another.

Wed, 04/24/2013 - 21:38 | Link to Comment seek
seek's picture

5% of COMEX inventory went out the door in the past two days. May not be rollover level, but it's going to be fun.

We're already hearing folks are getting warehouse receipts instead of delivery.

Wed, 04/24/2013 - 17:46 | Link to Comment Ham-bone
Ham-bone's picture

Munger must be rolling over in his grave...oh that's right, he's only seems dead, still, where's Munger when you need him..."it's only good for sewing into your clothes..."  Look out for the newest Au fashion accessories popping out everywhere this spring...looks like gold is this seasons color.

Wed, 04/24/2013 - 17:52 | Link to Comment Bastiat
Bastiat's picture

Munger should sew some in his clothes and go swimming.

Wed, 04/24/2013 - 18:12 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Indeed, LOL, indeed...

Wed, 04/24/2013 - 17:38 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

SPRING CLEANING SALE!  HURRY DOWN!

Only while supplies last.  Check your local dealers for participation.  Limit 2000 oz per customer.

I'm Ben Bernanke and I DO NOT approve of this message...

Wed, 04/24/2013 - 17:40 | Link to Comment Temporalist
Temporalist's picture

The average price of gold in dollars for 2009 was $972; Dec was $1134.

Obviously people buying mass amounts is no indicator of future price increases and is most likely a time to sell.

Wed, 04/24/2013 - 17:45 | Link to Comment Dr Benway
Dr Benway's picture

At $1134 in Dec 2009 gold was a sell? Even with the benefit of hindsight you are a fool.

Wed, 04/24/2013 - 19:02 | Link to Comment Temporalist
Temporalist's picture

I thought the sarcasm would be better received.  I was playing the fool.

Wed, 04/24/2013 - 21:24 | Link to Comment Dr Benway
Dr Benway's picture

Ah sorry my friend, my sarcasmometer was malfunctioning.

Wed, 04/24/2013 - 17:57 | Link to Comment Bastiat
Bastiat's picture

A classic supply demand illustration has two lines, one for supply, one for demand.  On is downward sloping, one upward sloping so the make an "X"

The vertical axis is Price, the horizontal is Quantity. Let's forget supply and just focus on Demand (that's the downward sloping on).

What happens to demand as price goes down?

Wed, 04/24/2013 - 19:23 | Link to Comment Pareto
Pareto's picture

EXACTLY.  And you could show the slam laid on gold and silver instilled a parallel shift down of the COMEX demand curve and where that line interesects supply is $1430.  But real physical demand hasn't changed, and so a shortage exists out to the original demand curve, and like any price fixing (rent controls example), way more is demanded than what is available for supply.  In order for physical markets to clear, price HAS to rise.  and we have seen that it already has in relation to spot becauase premiums have shot WAY up.  The market for G & S will continue to exist with or without the participation of the COMEX.

Wed, 04/24/2013 - 19:46 | Link to Comment Bastiat
Bastiat's picture

Some of economics makes real sense.  I always liked micro.

Wed, 04/24/2013 - 17:38 | Link to Comment ejmoosa
ejmoosa's picture

We are witnessing quite clearly that the people are not the government.  The people want what the government ultimately wants to destroy: Something which can store value of it's own accord.

Wed, 04/24/2013 - 17:43 | Link to Comment auric1234
auric1234's picture

Anyone can tell a good free source for the (paper) gold spot/futures chart, which includes volume?

Tried bloomberg, google finance and yahoo finance. They all suck.

Wed, 04/24/2013 - 17:52 | Link to Comment James_Cole
James_Cole's picture

http://www.cmegroup.com/trading/metals/precious/gold_quotes_globex.html

Don't hate me for posting to the cme, just the messenger.

Wed, 04/24/2013 - 17:54 | Link to Comment fonzannoon
fonzannoon's picture

Is that your dealer?

Wed, 04/24/2013 - 18:03 | Link to Comment Freebird
Freebird's picture

AAPL look like a deal too, equally crushed by by the mmm......going to get me some paper investment

Wed, 04/24/2013 - 17:53 | Link to Comment Dyhana
Wed, 04/24/2013 - 17:47 | Link to Comment Supernova Born
Supernova Born's picture

We give them back the FRN paper garbage they just printed and they have to deliver gold and silver?

It must irk them.

They are already stalling (American the Beautiful 5 oz silver) and throttling their direct sales to the public even with the insane markup.

Wed, 04/24/2013 - 17:41 | Link to Comment fonzannoon
fonzannoon's picture

It's funny in March of '08 Bear went under and no one bought any gold. Actually prior to 2009 it looks like no one was buying any gold at all? So the price run up from 2000 to 2009 was all paper driven?

Wed, 04/24/2013 - 17:45 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

This just in: paper and physical have filed for divorce.

Edit: I'd love to see WB7 crop JP Jamie (or Ben's) mug onto the famous ZH deer...

Wed, 04/24/2013 - 20:17 | Link to Comment Bastiat
Bastiat's picture

Physical is unable to pay alimony due to boating accident losses.

Wed, 04/24/2013 - 17:45 | Link to Comment Dr. No
Dr. No's picture

I cant help but think the masses buy at the top.  With a recession coming on, gold prices will be under pressure.  I would be reluctant to add at this point.

Wed, 04/24/2013 - 17:46 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Is your /sarc written in white, Jethro?

Wed, 04/24/2013 - 17:48 | Link to Comment fonzannoon
fonzannoon's picture

I am somewhat inclined to agree with you (not about adding, about the resession causing people to go broke). The fly in that ointment is interest rates. The masses have been sitting there making no interest for 5 years. They don't trust the market. If this frenzy sparks some sort of default I could see that money flooding out of deposits everywhere and into real assets.

Wed, 04/24/2013 - 17:55 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

People ARE broke, fonz.  The big cohort on the margin is the seniors, who are being taxed into poverty by being on the short side of the CPI v. actual inflation spread for their SS income.  The volume in the stock market suggests that virtually no one is "investing" apart from the TBTF banks, who are being siphoned $40B/month under the table via Ben's toxic asset buy-back scheme.  To me, that is what makes the inflow into physical assets so significant.  And the lesson that the elites are grappling with is that their poison just turned to sugar.

Wed, 04/24/2013 - 17:59 | Link to Comment fonzannoon
fonzannoon's picture

There are a lot of people that are broke. But there are a lot of people still left with a few bucks. I think that is underestimated here. If that money goes in motion towards PM's in the slightest It is game over.

That being said, I look at 2009 and it seems to look similar, and it ended up being controlled. I wonder if it will be different this time.

Wed, 04/24/2013 - 17:52 | Link to Comment monopoly
monopoly's picture

Disagree Dr.

This is the exact time to add to gold and silver. There will never be a better moment. And soon it will be gone.

Wed, 04/24/2013 - 18:01 | Link to Comment css1971
css1971's picture

You think no more QE? What would that do to the poor S&P 500?

Personally I reckon they're just getting ready to move up to 2nd gear with the printing. BOJ has started. BOE's getting a new Printmaster General real soon. Clearly 85 billion a month isn't cutting it in the US so I'd expect moar there. That leaves the ECB. Watch the elections in Europe, socialists will be replacing conservatives all over the place (Germany).

Wed, 04/24/2013 - 18:08 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

They have no choice.  There is no market to absorb $45B/month in tainted Treasurys bearing no interest.  The only variable left in the game is TIME.

Wed, 04/24/2013 - 20:03 | Link to Comment bluskyes
bluskyes's picture

I can see your reasoning. My doubts come from central bank buying. I believe that central banks are terrible at timing precious metals markets. OTOH I observered that in 2002.

I have learned much since then. The wide availability of alternative media helps to discern the shadows that the TPTB cast upon the curtain they hide behind, as the MSM, and sheeple focus on the puppets above.

Wed, 04/24/2013 - 20:45 | Link to Comment Dr. No
Dr. No's picture

It is dangerous to be a blind bull.  Im not much of a chart guy, but the bounce is on decreasing volume.  Dead cat bounce? 

Yikes watch the kooky junkers now!

http://stockcharts.com/h-sc/ui?s=$GOLD

EDIT:  I just looked at the 2009 price chart.  A drop from $1225 to $1125 right after december (the spike on Tyler's Chart).  Beware here.

Thu, 04/25/2013 - 23:03 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

so you're looking at the paper chart for volume and price, not the physical for delivery and premiums included for full delivery?

Thu, 04/25/2013 - 23:06 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

if not now then not at all – some said the same thing in 2008, 2009 and they were sore, sore losers who wished they had KY.

Wed, 04/24/2013 - 17:47 | Link to Comment vulcanraven
vulcanraven's picture

AAAUUUUUUU SHIT!

Wed, 04/24/2013 - 18:06 | Link to Comment krispkritter
krispkritter's picture

What do you say when your boat full of PM's sinks??

Wed, 04/24/2013 - 17:46 | Link to Comment realtick
realtick's picture

use of the word "surge" surges to new highs

Wed, 04/24/2013 - 17:50 | Link to Comment Chicagomark
Chicagomark's picture

Only in precious metals can demand increase exponentially, supply contract to near non-existant and prices go....down?

Wed, 04/24/2013 - 17:54 | Link to Comment vulcanraven
vulcanraven's picture

Welcome to the grand illiusion.....

Wed, 04/24/2013 - 18:09 | Link to Comment A82EBA
A82EBA's picture

...cAuse deep inside we're all the sAume

Wed, 04/24/2013 - 17:52 | Link to Comment jeebus
jeebus's picture

Barrick Gold downgraded but that's kind of an outlier with the Pascua mine scandal or whatever it's called.

 

Still, the mining stocks suck. 

Wed, 04/24/2013 - 17:55 | Link to Comment de3de8
de3de8's picture

Hardly a harbinger considering that most purchase more than an ounce at a time, ( at least I do) and even if you assume, for arguments sake, an ounce per person, that equates to six ten thousandths of the US population.
Don't get me wrong, the astute ones are buying, but .0006 of the population bringing these aholes to their senses regarding their actions, forget it.
You only have to watch the You Tube videos of the guy (forget his name) trying to sell a 1oz AE or ML or K for 20 bucks on the street corner to know where the general public is on pm's.

Wed, 04/24/2013 - 17:59 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

If you were right, then the MSM wouldn't be out trying to scare people away from gold.  You need to understand better the importance of behavior at the margin.

Wed, 04/24/2013 - 18:20 | Link to Comment de3de8
de3de8's picture

I am the margin, but the margin will not effect change.

Wed, 04/24/2013 - 18:23 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

You realize that change ONLY happens on the margin, right?  Bueller?  Bueller?

Thu, 04/25/2013 - 16:50 | Link to Comment de3de8
de3de8's picture

Whatever you say, that' why we are in such good economic/social/political shape! Keep dreamin.

Thu, 04/25/2013 - 23:10 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

no, due to chaotic swarming behavior change that matters often happens in the majority but all in a short time frame you can barely measure. 2 or 3 conditions may change all at once but only upon the 3rd will you see the result you were looking for. The margins are merely indicators, NOT causes, most of the time, or are laggards completely.

Thu, 04/25/2013 - 23:06 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

http://youtube.com/markdice

That’s the guy

Wed, 04/24/2013 - 17:57 | Link to Comment Frank N. Beans
Frank N. Beans's picture

more gold sales means fewer iphone sales

Wed, 04/24/2013 - 17:59 | Link to Comment tovar2
tovar2's picture

What stops big banks and Bernanke from doing another coordinated crash down again?

Multiple moves for mass discouragement seems more the pattern?

Nice price now...better price coming after next push down?

 

Wed, 04/24/2013 - 18:10 | Link to Comment Supernova Born
Supernova Born's picture

I hope they do.

Will there be physical available at that point?

They'll be straining the paper/physical link to the point of collapse.

Wouldn't it be nice.

Wed, 04/24/2013 - 18:15 | Link to Comment mayhem_korner
mayhem_korner's picture

@tovar2

 

I don't think they are super confident about whether they can break the will of the masses with another slam down.  I suspect they are debating it in their evil hideouts as we speak.

Thu, 04/25/2013 - 23:09 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

What stops big banks and Bernanke from doing another coordinated crash down again?

The failure from before. The outcome that results is opposite of their intentions or needs. They want physical demand down, physical price down, not up, and it’s heading up even if paper prices go down. If they did it again they’d probably see 1100 spot and 1800 physical per ounce and that’s a nightmare game-ender for the manipulators. That would quickly turn to 500 spot and 2500 physical per gold ounce. Then 200 spot and 5000 (THOUSAND) physical. Game over.

Wed, 04/24/2013 - 18:03 | Link to Comment PUD
PUD's picture

Wow..the goldtard infomercial just keeps playing over and over.

Do any of you stop to consider that all your "stacks" are bought with fiat to be converted to fiat if and when you decide to buy some indulgence for yourself.

Do you ever stop to consider that when the fiat system ends the world will be one giant thunderdome mad max apocalyptic shit hole and all your shiny little coins will be utterly useless to buy a single can of spam?

Do you ever stop to consider that between now and then 1 million children are hard at work rolling mercury between their little fingers to collect the little yellow flakes that will be processed into the little coins you stack in your secret hiding hole gathering dust?

Do you ever stop to consider the amount of land destroyed just to get one single ounce of your precious delusional security blanket or how much more productive that land could have been had it not be raped and poisoned to satisfy your imaginary end game?

Do you consider the damage done to cultures, families, landscapes, watersheds, wildlife across the globe in the maniacal pursuit of this illusion of yours?

Do you ever consider what it says about you as a human being that you would disregard all the consequences just to possess something you could easily live without?

Ignorance is forgivable but willful ignorance is not.

Wed, 04/24/2013 - 18:08 | Link to Comment Jim B
Jim B's picture

Did you ever stop to consider that if it reaches the thunderdome stage, cultures, families, landscapes, watersheds, wildlife won't mean jack! LOL!

But my PMs will be "golden" if just the dollar is destroyed! 

Wed, 04/24/2013 - 18:14 | Link to Comment PUD
PUD's picture

If the dollar is destroyed your precious will be worth less than a roll of toilet paper. There will be nothing for you to buy or trade for. That is your folly in this pursuit in addition to all the harm you are doing along the way

Wed, 04/24/2013 - 18:21 | Link to Comment akak
akak's picture

Several thousand years of monetary history, not to mention common sense, suggest that you are wrong.

Your ignorance is profound.

And all your specious and disingenuous tripe about the harm done by gold mining is nothing but a red herring, as there are an almost infinite number of other industries, some of them quite "unessential", that do FAR more harm to the environment than gold mining, most of which is either underground and has minimal environmental impact, or else is simply a secondary component of base metal mining.  So are you ready to attack copper mining as well?

Really, it is insulting to even stoop to address your idiocy and your malicious lies.

Wed, 04/24/2013 - 18:26 | Link to Comment PUD
PUD's picture

Is that a fact?  Seems to me that for most of those several thousand years the vast majority of people lived in squalor and perhaps used gold bits for trade. Also seems to me that for all those thousands of years there weren't 7 billion people existing in a digital fiat age where just in time delivery and letters of credit are the means of trade.

The fact that other industries do harm is no reason for me to sway for the TOPIC OF THIS POST WHICH IS GOLD...should the discussion be about oil I will gladly lend my voice to that but it isn't..the post IS ABOUT GOLD.

and I unlike you, can stick to the topic

Wed, 04/24/2013 - 18:35 | Link to Comment akak
akak's picture

Well then, my dishonest and disingenuous troll friend, you should STAY on the topic, which is the monetary aspects of gold, and the wealth preservation function of gold in a time of rampant fiat currency creation and debasement, not gold mining itself. 

But you cannot of course address that topic, because you are so profoundly ignorant of it that you have literally nothing to add to the conversation.  Additionally, you clearly have a deeply seated anti-gold, anti-sound money, anti-free-thinking, anti-liberty agenda to push.  So you chose to run off on irrelevant tangents in the attempt to destroy the thread of conversation here.   That is malicious threadjacking, and justifies you being banned for being a disruptive and antagonistic troll.  Keep it up, and I will recommend exactly that course of action to Tyler.

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