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After the knee-jerk reaction, we are seeing significant USD strength that is monkey-hammering commodities...
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Dollar up, stawks... nevermind. Stawks can't go down, yet.
Interesting take on the gold market by a professional Gold Analyst: "Gold is Still Vulnerable"
http://www.cnbc.com/id/100705567
I tend to agree with this analysis. Technically, gold is extremely weak, and given today's NFP beat goldbugz should be very worried.
I call on all ZH's to ignore MDB.
Who is MDB?
A shill, a troll, or both.
I'm not worried.
Oh, dang...that's your line. Sorry Bro.
MDB sites CNBC and calls the author a professional gold analyst and you guys STILL can't figure out that he likes to fuck with us???
Well played, MDB. Green arrow for you.
sites -Freudian slip
Slight mental retardation. But at least I'm not a douchebag deputy of the spelling police department.
I think you meant, "Clight mental retardation..."
Gold = sexy
USD = sexy
You decide.
We got us a paperbug, boys!
G+S on sale! Limited Time!! Load up boys!!
IC
MDB is a mindless government Bot.
MDB is Baghdad Bob
MDB is Tokyo Rose.
MDB is sarcastic and funny. He's making fun of CNBC in this post. Lighten up everyone!
never!
MDB is the coolest!!
Technically, gold is extremely pertinacious and can be milled into thinner sheets than any other metal.
Goldbugs tend to be rather pertinacious as well. I guess you could say pertinaciously contrarian. 'Tis a fitting conjoining of characteristics.
Buy up the price and then pull the rug out as fast as you can at low volume periods to try to discourage investors buying gold. I however just bought more on this price dip.
When JP Morgan can dump 400 tons of paper gold onto the market in just 2 days that they never had to begin with, it proves that technicals are BULLSHIT. That was in NO WAY a 'technical' move - except to dupe the chart tards into thinking real market rules still apply.
Thanks for playing...
Uh huh, the upbeat in jobs is mainly due to part time service related employment. Want that supersized?
So, what, me worry?
Nah.
You want some gold, bro? I'll meet you in the alley behind CNBC....
MDB - Professional gold analyst ... cnbc!!! Really.
No need to click the link.
Gold technically weak - Let's just run this one MDB
Paper gold - technically manipulated and will no doubt get bashed further, have said for a good while NFP day is Smashdown day for the metals.
Physical gold - fundamentally strong.
Can I give you any further advice?
"Technically, gold is extremely weak, and given today's NFP beat goldbugz should be very worried."
Yeah, we're just terrified...LOL...
so good is good again eh? this market should drop like a rock, but hey wtf ever. oil and gas down? people must be running to those part time mcdonald jobs.
"I want to see Gold Baumgartnering NOW! NOW I said"
These deflationary pressures have knocked Brent down to $103 and wti to $94. Ha.
Is the AUD under 95? When do we buy it?
monkey-hammered
If you want it cheap - buy now. ;-)
King Dorrar!
Impressive defense has been put out last night of the 1.3252 line in the EUR$.
It is what it is.
SNB hit record $476 billion of foreign reserves. All bullish don't you know. There is also news or a rumor that Swiss chesse will no longer have holes in it.
$1,397/oz was given. Now, let's wait for the 10am smack down to complete the job.
The smackdown will continue until morale improves...or physical delivery ends...
Already has in France. They banned any shipping of precious metals by post or courier. I think, technically, you can still walk into a coin shop and buy. but what's the chance of them having any significant quantity on hand?
And...the higher premium to boot. Grrr!!!!!
I can't get enough of these government types trying to restrict freedoms AND make it seem normal, and for our own good, at the same time.
Really? No more precious metals courier service? Whats next, peasants are allowed to own shares of GLD, but no physical? For our own protection?
Kill the statists. Works in every revolution. ;)
Went to UBS, Geneva Switzerland at lunch time and I BTFD in gold and silver...
The day is young.....
Lets see what the close brings.
No POMO today; will be interesting to observe the action as a gauge of sentiment.
It's Friday. We always end green on Friday!
My first rollercoaster ride had a double loop. This is quite the letdown.
deflation .. king dollar and everybody is short the dollar via loans. gonna be a hell of a fire
At some point USD will flood into the market. We know foreign CBs are holding. We know corporations are holding. We know USD are still quite widely held as savings around the world (compared to, for e.g., gold).
Either that money will be spent when 'prices are appealing' (a process I expect to start in the next 6-12 months), or banks will be stormed with people who want to borrow, post-deflation. Because I imagine borrowing MORE will be presented as the solution to large debt loads with insufficient collateral (that is, deflation causes the collateral to decrease in value, while the loan amount remains the same). And maybe they only lend to their cronies...
But when those USD get spent...
It's Friday. Payday for some folks. So the traders who ramped up (insert worthless object) yesterday, now sell for payday.
...and NG
Gold getting monkey hammered on no need right now to go to 125 B a month... nothing more... currencies aint moving....
10yr moving like the taper is back....
Oil monkey hammered, yet gas still is $4 here, no change to that.
All just a machine to make a few people millions on command.
I blame the FED and the bullion banks. They've solved the supply-demand problem in gold through the adroit use of paper and propaganda, why won't they do the same thing with gas. You know, get the guys on Bloomberg and CNBC to start talking about it as a barbarous relic, sell about 100x the actual amount available every morning at 8:00, get Roubini out there spouting some nonsense about how he expects the price of gas to go under 2.00, next thing you know we can all afford to fill up again.
SDO,
Monkey hammering reversed. Is gas under $4 now?
Needless to say, fade the bond, fade the pop, and long gold....
I agree with the last two. I am holding on until we close below 2.05%
I have changed my mind on Bonds they cant keep the lid welded on Japan much longer.... going to be alot of bond selling pressure as they take their money home..... there will be a feedback loop in dollar yen... Looking for 90 shortly.... as in next week.
That's been my theory all along.
In a not so distant future it will evolve from theory to empirically proven fact, me thinks ...
Woke up late. Of course Gold is getting crushed. It's Groundhog Day.
I think they're just trying to discourage the Indian retail public from buying more - you know, nothing like a sale on something you really want to make you think twice about stocking up...
Saw an add on Drudge today
"Buy or Sell Iraqi Dinar"
"Safe and Secure"
surely, the end is nigh.
I feel sorry for any hopeful traders out there who are long paper gold. However on the bright side, I pray that this monkey-hammering of the paper gold price, which is a gift to those of us who are steadily converting fiat to physical, continues until at least October.
It's not as if these "hopeful" traders haven't been warned repeatedly ...
US Dollar has been falling hard over the last week while the Euro, Yen and GBP keep climbing.
http://bullandbearmash.com/chart/spot-dollar-daily-continues-fall-sharpl...
Broken support galore. Today seems to be the recovery back for the USD - you'd think indexes would follow - not a chance - up over 1% in the first 45 minutes
Don't think the index moves up will last for long.
Whenever the government announces some fraudulent statistics about the state of the economy gold gets hammered. It's clockwork.
France just banned the mailing of gold and silver. This basically bans precious metals for retail investors. They are taking more and more draconian measures to suppress the price/use of gold and silver globally. It's hard to imagine what the impact of this would have in the USA. I guess that APMEX, etc. would have to shut down business.