The Gold, Silver Morning Smackdown Becomes A Smackup As Surge Continues

Tyler Durden's picture


After recovering 50% of its record plunge last night, gold continues to rise this morning, topping $1450. Silver is even more exuberant this morning testing up to post-crash-low highs around $23.90. What is more interesting is that for three days in a row, instead of the seemingly ubiquitous morning smackdown of precious metals, we have seen a sudden desperate demand for silver and gold in the US morning.



Silver is lagging gold's recovery for now...


Charts: Bloomberg

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Thu, 04/25/2013 - 09:08 | 3497016 SeverinSlade
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Gotta cover those shorts.

Thu, 04/25/2013 - 09:11 | 3497026 GetZeeGold
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But Jon Stewart promised me.....

Thu, 04/25/2013 - 09:14 | 3497038 Rubicon
Rubicon's picture

Why keep showing the paper price? Its irrelevant.

Thu, 04/25/2013 - 09:19 | 3497051 francis_sawyer
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Smack my bitch up... [I thought that was BANNED from MTV]...

Thu, 04/25/2013 - 09:25 | 3497082 Pladizow
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Of course this is happening.

Those that shorted 500 tonnes of paper gold, have to close their positions and buy back the contract - hence the rally!

Thu, 04/25/2013 - 09:29 | 3497105 malikai
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Meanwhile, BTC is up almost 300% from its lows from its own "crash". But I guess BTC is only noteworthy when it's sensationalistic enough to be used to make a point.

Thu, 04/25/2013 - 09:35 | 3497151 toys for tits
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BTC can't lick the sweat off of gold's golden balls.

Thu, 04/25/2013 - 09:44 | 3497192 Pinto Currency
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Physical demand was already getting intolerable - and then Cyprus and the revelation of the G20's push for property bail-in seizure followed by the price smash has driven gold and silver physical demand much higher.

Most are focused on the price of gold and silver. 

It's all about the flows and the desperation to secure physical - the physical gold and silver rehypothecation situation has become visible to some who thought they owned gold and it will become increasingly known as 'owner' after owner of phyz is shut out when they ask for their property.

Thu, 04/25/2013 - 09:45 | 3497221 Thomas
Thomas's picture

So I take a ritalin to write a fucking grant proposal (spending your tax dollars) and I find myself over at Twitter breaking records. This is not how I pictured it working out. With that said, go gold! Yeeeeoooow.

Thu, 04/25/2013 - 10:32 | 3497542 fourchan
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the institutional naked shorts must be shitting themselves on every rise and the massive consumption of all america's gold.

Thu, 04/25/2013 - 11:30 | 3497925 fonestar
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Who cares about silver priced in Benny Bux?  Just buy the shit while you can until your fingers bleed.

Thu, 04/25/2013 - 09:42 | 3497177 Pinto Currency
Pinto Currency's picture


Thu, 04/25/2013 - 23:32 | 3501165 MeelionDollerBogus
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Btc has the intrinsic value of pocket-lint. A pgp-signed note for amounts of gold or silver I’m proven to hold has more value than btc.

Thu, 04/25/2013 - 09:28 | 3497106 MagicHandPuppet
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I'm out of powder.  All in.  I'm ready for blast off.  Let the currency collapse accelerate to warp speed in 3...2...1...

Thu, 04/25/2013 - 09:36 | 3497143 Bearwagon
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... ZERO ... Hmm, strange ... nothing happened. I guess, that means we have been saved again, right?

Thu, 04/25/2013 - 10:23 | 3497474 Oracle of Kypseli
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Carefull out there as the perpetrators of the gold smack down were not exposed, they may feel comfortable to do it again. I am staying put for a while

Thu, 04/25/2013 - 09:31 | 3497116 tmosley
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They banned all music from MTV.

Thu, 04/25/2013 - 09:33 | 3497130 francis_sawyer
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true dat

Thu, 04/25/2013 - 09:34 | 3497136 GetZeeGold
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It was all downhill when Martha Quinn left.

Thu, 04/25/2013 - 09:35 | 3497153 Bearwagon
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When Beavis and Butthead left!

Thu, 04/25/2013 - 09:57 | 3497307 therover
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When the MTV astronaut left.

The M stood for MUSIC. Now it stands for MUSH. 

Some of the originals are on SAT radio which is cool. 

Thu, 04/25/2013 - 11:21 | 3497873 Race Car Driver
Race Car Driver's picture

It never stood for a damn thing - eMpTVision.

Thu, 04/25/2013 - 13:50 | 3498755 imbtween
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nah, she was mediocre. Matt Penfield was the best.

Fri, 04/26/2013 - 14:19 | 3503291 mkkby
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Why do you even know what's on MTV, or any TV?  Do you enjoy being lied to and supporting your own serfdom?  Wakey, wakey little sheep.

Thu, 04/25/2013 - 09:19 | 3497053 nugjuice
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So we have a lot of moving pieces. Let's try to piece them together.

Other countries repatriating gold? What if the Fed didn't have enough? This is something we've all thought about.

What if the JPM vault ransacking and the gold smackdown was to attempt to drive the price down so they could buy up the physical to replace in the vault? That could also help explain the physical PM shortages.

This could also explain any subsequent panic buys. Imagine you short gold with everything you've got to try to scare people out of it and the opposite happens, with people lining up around the block? I'd be pretty worried too.

How much unregistered gold is really left?

Thu, 04/25/2013 - 09:30 | 3497120 tarsubil
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Did the US close the gold window after they ran out of gold? No, I think those real oligarchs know the value of gold. They are not going to use up all the physical gold in trying to manipulate COMEX prices. I think the game will continue on a while longer until everything goes poof and everyone lays their cards (how much real gold they are holding) on the table. My guess is that the US oligarchs will have the biggest stash of gold when all is said and done.

Thu, 04/25/2013 - 09:39 | 3497168 toys for tits
toys for tits's picture

As long as they keep paying the fees for renting the gold, the game continues despite the rented gold being turned into jewelry and sold.

It will be fun to watch the finger-pointing.

Thu, 04/25/2013 - 09:42 | 3497200 SilverDOG
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US oligarchs will not be living in US when any declaration, or revelation, of their possessions comes forth.


Thu, 04/25/2013 - 12:56 | 3498415 Kirk2NCC1701
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They have ALREADY been 'Simonized'. They got multiple homes in the world, and they swap within their network when they want to visit a place where they don't own a home.

You and millions of 'patriotic' people are just 'useful tools' to them. And it has ALWAYS been that way, poor malleable peasants.

Thu, 04/25/2013 - 09:45 | 3497209 cynicalskeptic
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Nobody ever accounted for Yamashita's treasure - all the gold looted by Japan from Asia during WWII.    Rumors are it went into black funds (with an appropriate skim off the top for the CIA types and their friends).   The question is  whether or not the US fed what was left to the Arabs under the table in exchange for oil...

Of course Bix Weir could be right and this is a deliberate system crash and reset - with the US hoarding its treasure for the aftermath..... I just don't believe anyone or any group is that selfless.

Thu, 04/25/2013 - 13:00 | 3498452 Kirk2NCC1701
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What about the hundreds & hundreds of tons of Iraqi and Libyan gold? It sure as hell isn't there any more.

In NY, West Point, Denver airport, Negev desert, or spread over a dozen other places by its thieving 'liberators'?

Thu, 04/25/2013 - 14:47 | 3499000 Lord Koos
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When it goes down, it's irrelevant but when it goes up, it's not.  Such is the logic at ZH.

Thu, 04/25/2013 - 09:27 | 3497103 Croesus
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Beppe Grillo is the only comedian I would ever consider taking investment advice from......

Thu, 04/25/2013 - 09:31 | 3497121 kito
kito's picture

Ever hear of george Carlin........?

Thu, 04/25/2013 - 09:34 | 3497133 Bearwagon
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Keep on mentioning him. :)

Thu, 04/25/2013 - 09:34 | 3497142 Pinto Currency
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Grillo mocks gold.

He's also financed by Soros.

Thu, 04/25/2013 - 09:36 | 3497155 Croesus
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@ PInto Currency:

Thought he hated the banksters (and for that reason assumed he was pro-gold.) I humbly stand corrected.

@ Kito:

Carlin's one of my favorites. The man was a genius.

Thu, 04/25/2013 - 10:15 | 3497420 Temporalist
Temporalist's picture

I think Grillo mocks the banks owning/hoarding the gold and that it is not exchanged freely - he does not mock the idea of people using it as money.

Thu, 04/25/2013 - 10:08 | 3497389 slaughterer
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Let's see a little Cartel panic short covering in action, bitchez.  

Fuck you, Blythe/Jamie.  

Thu, 04/25/2013 - 09:08 | 3497018 kliguy38
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Relax wait until they realize that the buying is not stopping for the bullion then they will hit the panic button at the that one

Thu, 04/25/2013 - 09:10 | 3497024 Stuart
Stuart's picture

Get your physical bullion now, WHILE YOU STILL CAN!   The tea leaves say you won't be able to for long if you hold it at a major bank, anywhere, allocated or not.  So many people are going to be MF Globaled, it's crazy.  Why the industry plays along like patsies and refuses to set its own price is mystifying.  They have the power to but they don't. To see Newmont or anothe rmajor come out and say "we will no longer abide by the paper driven manipulated prices.  Our shareholders and local stakeholders deserve better.   If y ou want our gold, it's spot plus 33% premium".   Daydreaming I am.

Thu, 04/25/2013 - 09:21 | 3497059 Rubicon
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Bullion availability will ultimately dictate paper price... and thats when they get nasty.

Thu, 04/25/2013 - 11:15 | 3497833 chdwlch1
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If you could literally conjure money out of thin air, would you allow 'others' to own/control the only competing currencies to yours?  TPTB have used their powers to create credit to obtain control over the mining companies (and their true competition).  I don't think they would leave that to chance.  (I'm almost positive Rio Tinto is controlled by the oligarchs...not sure on the other majors).

Thu, 04/25/2013 - 11:48 | 3498029 americanspirit
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One ounce PAMP Suisse bars with assay are being offered at $2000-$2300 on eBay. Hefty premium indeed! Doesn't mean they're selling at that price, of course, but since eBay is totally 'monkey see, monkey do' when it comes to pricing I imagine that there is already a history at that price.

Thu, 04/25/2013 - 09:12 | 3497027 sudzee
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Slamdown in 3-2-1.

Thu, 04/25/2013 - 09:24 | 3497036 GetZeeGold
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If someone actually does manage to take delivery.....please send me pictures of that.

Thu, 04/25/2013 - 09:27 | 3497094 Pladizow
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COMEX: "We Dont/Cant Deliver."

Thu, 04/25/2013 - 09:33 | 3497126 Stuart
Stuart's picture

And one day, probably soon, one of those COMEX SOBs is going to say that to the wrong person.  We'll know that when we read about in the paper.   "body of COMEX official found face down in a ditch somewhere in New Jersey".     

Thu, 04/25/2013 - 13:05 | 3498492 Kirk2NCC1701
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As I already mentioned yesterday, TPTB cannot afford to let the PM bullion run become global, or it turns into a monetary crisis.

Likewise, they can't have it spooking the herd if it goes too high too fast. So they will keep it in Max-Min limits.

Plan accordingly.

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