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Gold And Silver Roundtrip To Friday's Close
It's been a wild ride in gold ($60 range) and silver ($2.50 range) in the last 2 days but for now, the precious metals have dropped back to unchanged from Friday's close.
Charts: Bloomberg
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silver and gold, bitchez!
Gold and silver are on the way to ZERO!
Yesterday it was a dead-cat rebound.
Die, silverbugs!
do you recommend buying at $0 then?
If stocks rise higher enough, gold and silver will become so hated that even the ZERO boundary will be broken. We may see negative prices...
...right. Just like NIRP and the bank paying you to take out another loan. Just the same I won't hold my breath.
LOL, I'll get in line to pay someone to take my silver. Sure.
In a few years, a 5% rise in the S&P won't even buy you a one minute look at my stack.
The ones that are gonna die are those who run to the exit together with 4 billion algo sell orders. Thin volume in your pants.
I'm a buyer at that level if you're a seller, as a fact, you can lock me at $4 silver and $20 gold TODAY and make a fortune through your wisdom !!! Put the metal where your mouth is, fucker!! I'll be expecting a call now, "eigen". 1-800-BUY-MOAR.
Pooo might have a higher paper price than gold and silver.
If you are struggling to understand why gold is not headed 'to da moon' while the US and Japan suffocate us in paper read this:
http://fofoa.blogspot.com
Fofoa noted that 2013 might be the 'year of the window', the year that the paper gold market died. So far his observations have been correct.
If he and Another and FOA are right we will see the paper market collapse and a new 'physical only' market emerge. If he is correct the purchasing power of gold will be a lot higher than it is now regaining it's worth after years of suppression. If he is right this will happen very soon.
no I am not fofoa.
I dont like FOFOA/Victor the Cleaner/freegold stance on silver.........if gold were to be revalued at $55k per ounce, wouldn't all PM's benefit from gold's revaluation........
Yes, without a question. The greed factor will kick in. I don't agree with his stance either. We are to believe that 5,000 years of silver being money will vanish because the silver market is too small????
Well I'm not going to argue with those folks anymore but we'll just see. Meanwhile, stack.
Peru, Poland and Australia sure will be pissed if gold is considered money, but not silver...
The repricing will happen in the visible markets after the banks have stolen every available ounce they can find. This pullback with phsyical drawdown means the endgame is near. I think they have to keep the paper market alive to reap the gains. Maybe it wil be a totally new paper market. But it seems like it would be easier for them just to use the current one.
FOFOA has a very well reasoned thesis. Thanks for the post...
Silverbugs are getting resistent to your poison. You have to up the dosage and frequency of application.
Soon not even scorched earth and salt will do the trick. You lose.
"Gold and silver are on the way to ZERO!"
im truly impressed...
you found thus far 8 other morons that share in your imbicility...
keep reaching for the stars....
Kick em' when they're up, kick em' when they're down.
Give us dirty laundry?
The bubble headed bleach blondes are on 24x7, pumping stocks and trashing pm's.
She'll tell you about the gold crash with a gleam in her eye.
Is the head dead yet?...That is the only line I can remember.
It's interesting when people die....
Get the widow on the set.
Don't you know it's Equity Tuesday??
Watch the premiums on taking delivery. This is all that matters as a certain level of divergence will be tolerated, events in India should give us an idea what that level is shortly...
Volatility only exists in PMs. Everything else is on the comatose one-way ride to the top.
Seems to me to be more proof that PMs are the only real asset out there when all promises have been or will be broken.
+1. Reality is a volatile trading session.
Musn't have gold and silver going up... tsk... tsk.... only the Sh!t and P1$$ is allowed to do that
Its because the USDJPY has rountripped too. ZH seems to think the Falling JPY crushed the sunday open but why then i ask did Silver open up .50% 1 hour after the USDJPY move.
USDJPY is the metals crusher
Duuhhh
"buy, buy, buy!!!" said some bald dude seeking long forgotten credibility. Remember, $1050, and $17 the magic production cost averages.
90 Minutes until Mr. Turd (Bullard) pours dry ice on the QE FUREVR punch bowl. Watch us go red until Dudley takes up the baton. Great day trading day, because totally predictable. DXY goes to 84.50, silver below $22, gold below 1,350, WTI below 96.20, then rebounds when Dudley takes over.
The insurance companies may liquidate some investments over the next few days to pay for the storm damage too.
Woops, there goes the pre-Bullard plunge. Market red, like predicted.
The new normal for precious metals. Total disconnect from reality even it that disconnect is forced.
The bottom line is that once they created paper Gold ETF's and other trading platforms they created a wonderfully effective manipulation tool.
Don't tell that to the traders here. They love their casino no matter how fucking crooked it has become.
On that theme, CD, have you seen this piece dated yesterday from Paul Craig Roberts? I didn't see it posted on ZH.
No Bear Market in Gold...http://www.paulcraigroberts.org/2013/05/20/no-bear-market-in-gold-paul-c...
"The misinformation that Soros had sold his gold holdings came from misinterpreting the reason Soros’ holdings in the GLD gold trust declined. Soros did not sell the shares; he redeemed the paper claims for physical gold. Watching the gold ETFs, such as GLD, being looted by banksters, Soros cashed in some of his own paper gold for the real stuff."
and
"Bullion banks and prominent investors such as Soros are the only ones who can redeem GLD shares for physical metal. They purchase the shares that are sold in response to the falling gold price, and present the shares for redemption in gold metal."
(emphasis added)
The massive GLD redemptions (and subsequent physical metal outflow) should be sounding alarm bells for anyone holding a position in GLD that is not large enough to redeem a basket of shares for physical.
If you are a small-fry GLD holder, then you are actually a BAG holder when the final physical redemption is carded, and the custodian declares the fund to be defunct due to insolvency.
maybe, just MAYBE you will get par value of your initial investment (on a dollar basis) but I wouldn't hold your breath...
golden ipads!
http://www.macrumors.com/2013/05/20/burj-al-arab-in-dubai-introduces-gol...
Because of Benron and the Fed 0 interest rates, I have to put up with this bullshit every day. Sure, I guess I could buy Greek Junk Bonds for a decent yield ???? Fuck you Bernanke and the Fed board of criminals.
Metals never have two significant up-days in a row. Hasn't happened for years.
Why, if there were ever to be some follow-through from a positive session, some upside momentum might start to build up and Lord knows what would happen then.
Easiest money in the world: wait for a (rare) substantial up-day for the metals and then go short to ride the following days smackdown.
The top of Silvertowne's web page:
Due to high demand of gold and silver shipping times will be longer than usual.:
http://www.silvertowne.com/
I believe I heard something once about buying and blood and streets. I think it may apply to this situation.
Silly person ...that only applies to stawks.
all perfeclty normal market activity...
dont matter...will continue accumulatting...
Bernanke + Manipulation = fail.....
Ben will say, "I would have gotten away with it if it wasn't for those meddling ZH-ers."
Jinkies!!! :D
Dang. I'm just loving all the retro cultural references flying around ZH today!
Zoinks!
The 200-point MA on the monthly silver chart is sitting at around $15, I wouldn't be surprised if silver hits that. This happened in October of 2008 before gaining 400%+ in the span of the next 3 years.
http://imgur.com/MkxkR6i
If anyone would have stated 10 years ago that today we'd be experiencing $60 2-day gold moves, they'd have said he's out of his mind and need to be in a straight jacket.
I see $100/day moves in Au and $5 moves in Ag... coming soon.
yep, from now on expect violent moves until the fiat dies.
The webbot people (of which i am not) say that when silver moves up / down $5 per day, know that the end of the US dollar is close at hand.
The ten year yield is kissing 2.0 % again, get busy Mr Chairman!!!
The ease with which they can control gold and silver prices is breathtaking. Apparently with infinite money from the Fed and HFT, you can determine prices precisely. No one stands a chance against the manipulation even as physical gold and silver get hard to find. Miners should sell directly to sovereign nations like China and India bypassing all the paper mechanisms that are so susceptible to maipulation.
Interestingly enough, the US Dollar is also up today. There is an inverse relationship of Gold priced in USD and the USD.
http://bullandbearmash.com/chart/spot-gold-monthly-inverse-relationship-...
As the USD climbs, Gold should continue to fall - which appears to be what is occurring.
OK, now you can down vote.
Incidently, we forecast this fall last December.
http://bullandbearmash.com/chart/gold-weekly-falls-40-week-outlook-bearish/
"Incidently, we forecast this fall last December." - Right, how long will it continue for exactly?
Well, at least until a definitive time that the reversal happens which we will call in advance only to sing the praises of at a later date.
geek
tell us so we don't need to 'sign up for the free newsletter'...what did you say?
Fofoa has a noncommercial free blog and a COMPREHENSIVE explanation for what is happening. He has spelled it out for 4 years. It is not technical analysis it is reallt philosophical and logical, built on the writing and predictions of others. He upped his ante in December noting certain changes at the ECB indicated that 2013 could be the year of a great reset in the gold price.
His followers are almost giddy with the price declines because they have an understanding of what must follow. I have even hedged my physical with DGLD. Does your 'system' allow the confidence to do that?
http://fofoa.blogspot.com
You can show him the facts where he is wrong, but it does no good. (when gold and the dollar have risen together for instance).
His thesis is wrong, therefore his conclusions are wrong as well. He's a day trader and clearly doesn't get it on gold.
This pullback was the signal that the system is giving up and accumulating physical gold. I don't think I agree with teh 50k price unless there is a complete and total systemwide printfest to cleanse all the credit. I think 11K or so with a complete debt/derivative default is more probable.
The 50k number is not hyperinflated dollars. It is based on the predicted FLOW of gold post reset. All the gold in the world does not matter. All that matters is how much can you shake loose after a gold market collapse. Gold has been suppressed for decades. I do not know the final price and neither does fofoa but he did do a blog about how he got his number a couple of years ago. The main message is not 55k!!!! it is 'physical gold is vastly undervalued and this is the opportunity of 1000 years to benefit when the grwat correction happens. I bought into the story so I am biased. I would be surprised to see only 11k though.
In fact if the dollar dies with the gold market collapse the dollar price will be moot. One way to view it would be: does an ounce get you a Kia or a Mercedes?
He also predicts a period of time in which gold will not trade and the last quoted price may be quite low...say $300/Oz. All outstanding paper will be settled before a new 'physical onlymarket' is made. Imagine sitting on a bunch of $300 gold, unable to sell or buy any more. Because of this one needs to have enough cash to make it through the transition. His estimate for the transition is weeks but what if it is months (or longer). I doubt it can be too long because gold needs to flow for oil to flow. It would be an ugly world without oil.
I will now hang on your every word considering your stellar track record.
When E. F. Hutton talks, people listen.................
When OrangeGeek posts, people run for the exits...............
There is an inverse relationship of Gold priced in USD and the USD.
No shit. There's an inverse relationship of A priced in B and B priced in A?
Thats why mindless robotic zen trading works with a sound portfolio. Price down, buy. Price up, sell.
that would put monster boxes at 10k per, a$$uming 20 percent premium.
that would be a "bring in the freight train" moment...
Mr, Chairman, do you think that Gold is money?
gold is not money. it should be money but it isnt.
I'm so bored with watching the price of silver. I thought I'd be rich by now. What can I buy to make me rich? :D
Go long on bullshit. Demand is through the roof.
GT's answer is better
AAPL, creeko/sarc
Yes, isnt it fun to watch the tribe play with your life savings?
Canadians cleaning the store!!
Scotiabank Silver Bar (100 oz) SOLD OUT
Valcami 1 Kg Silver bar SOLD OUT
Silver Canada Cougar Coin ( 1 oz) SOLD OUt
https://www.scotiamocatta-estore.scotiabank.com/stores/scotiamocatta/cat...
Naturally the Canadian markets were closed yesterday while the loyalists celebrated Vicky and her teetotalling, carnal abstinence, royalty, and general priggishness; or something... it's almost as if the other bourses wanted the Canucks to miss out on all the fun(?)
We call Victoria Day "May 24" the blessed day when Kanuckistans join together as one to get sloshed. All problems of melting igloos, hungry bears and rascally raccoons are forgotten as we party like it's 1999. We don't think of Queen, unless it's the rock group.
Hosers can call it what they will; their armed forces, gov't, and judiciary all still pledge allegiance not to Canada or even F. Mercury (which would be an improvement), but to the English monarchy.
Surprisingly, when it comes to sovereignty their only hope may be in Quebec.
Anyway, +1 for having fun with it.
Additional information here:
http://online.barrons.com/article/SB500014240527487045515045784810437648...
i already told you it will drop again, wait for a few cycles again
it made a triple top..