Gold And Silver Spike, Recover All Shutdown Losses As Stocks Tumble

Tyler Durden's picture




 

Odd that the mainstream media is not discussing the 4% spike in precious metals this morning as vociferously as they discussed the imminent demise of gold and silver yesterday. With stocks having given back all the Shutdown gains, gold and silver prices are surging higher retracing all yesterday's losses as Treasury yields fall and the USD weakens on EUR strength. It seems, perhaps, the spike in 1 month T-Bill yields (and inversion of the USA CDS curve) is being priced into other safe-haven assets...

 

Silver up 4%, Gold up 3% today...(and back above $1300)

 

and stocks have given up all their gains - falling back in line with Treasuries...

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Wed, 10/02/2013 - 10:43 | 4013675 ParkAveFlasher
ParkAveFlasher's picture

Gold Shirt Man, up up and away

Wed, 10/02/2013 - 10:45 | 4013690 MillionDollarBonus_
MillionDollarBonus_'s picture

So let me guess … when the gold and silver markets have a 2-5 sigma upward movement, it’s not manipulation. But when the movement is down, it is. Am I right?

 

www.accredited-times.com

Wed, 10/02/2013 - 10:48 | 4013697 FieldingMellish
FieldingMellish's picture

Its ALL manipulated. There is no real price discovery in just about any market.

Wed, 10/02/2013 - 10:50 | 4013713 NoDebt
NoDebt's picture

Dammit.  Missed another BTFD moment in gold.  That didn't last long!

Wed, 10/02/2013 - 10:54 | 4013725 Xibalba
Xibalba's picture

If price reflected money creation gold would be north of 55k an oz 

Wed, 10/02/2013 - 11:07 | 4013728 AllThatGlitters
AllThatGlitters's picture

Go Baby!

Who bought the dip yesterday? More importantly, who is buying it today?

Live Spot Silver Chart: http://www.pmbull.com/silver-price/

Live Spot Gold Chart: http://www.pmbull.com/gold-price/

The inflection point on the weekly silver chart was sitting there all day yesterday, and that is where it started to bounce.

Personally, I just prefer measuing the whine factor. The more people whine about "Cartel Smashes" when they occur, the more likely that the dip will reverse. 

 

Wed, 10/02/2013 - 11:16 | 4013845 BLOTTO
BLOTTO's picture

Its worse then that...

.

Everything is manipulated.

.

We are being ruled by occult satanists who think its their divine right to rule over us commoners.

 

Wed, 10/02/2013 - 11:18 | 4013852 Max Hunter
Max Hunter's picture

MDB: the reason it moves up like this is because of the manipulation downward being so unatural.

Wed, 10/02/2013 - 11:30 | 4013894 Enslavethechild...
EnslavethechildrenforBen's picture

Odd that mainstream media and Zerohedgers never talk about our daily demotion either (every morning I wake up and my paycheck is even more worthless than it was the day before just like in Weimar )

Wed, 10/02/2013 - 16:50 | 4014023 Deo vindice
Deo vindice's picture

So ... 2 days ago when gold went up almost ONE PERCENT it was "screaming" up.

Today, with a THREE PERCENT jump it is "spiking up".

One only wonders what the adjective will be when it is a 5 or 10 percent jump?

Wed, 10/02/2013 - 19:15 | 4016131 MeelionDollerBogus
MeelionDollerBogus's picture

#1 it gets frequent mention & usually is reduced to "fuck you Bernanke"
#2 we also don't comment every day that rain is wet.

Wed, 10/02/2013 - 11:29 | 4013898 Jack Napier
Jack Napier's picture

No MDB, you're not right. We won't see much of an up move, because for metals to return to fair value requires that they also reclaim the price setting mechanism that fiat currency supplanted. As long as the price is denominated in dollars that means dollars are still king, and as long as that is the case dollars will be used to suppress metals. The up move we are expecting will be reflected in buying power, not price. Once the exchanges run out of metal it will be harder to claim manipulation.

Wed, 10/02/2013 - 11:24 | 4013884 Ghordius
Ghordius's picture

wouldn't "occult satanists" object and say that it's their "demonic" or "devilish" right to rule over...?

Wed, 10/02/2013 - 11:30 | 4013920 BLOTTO
BLOTTO's picture

Imo, symbolically yes, they signify who their 'supreme commander' is and who they worship via through sacred geometry, astrology and numerology...

.

But to come right out and 'say/speak it'...no. They cant make it too obvious...

Wed, 10/02/2013 - 11:33 | 4013941 Enslavethechild...
EnslavethechildrenforBen's picture

Wrong.

They're just a bunch of over glorified paper counterfeiters.

Wed, 10/02/2013 - 11:36 | 4013952 The Devil
The Devil's picture

I've never met someone that worshiped me that I liked.

Wed, 10/02/2013 - 11:42 | 4013980 BLOTTO
BLOTTO's picture

Exactly - Thats because you have no love.

You just use and pervert...

.

Evil is dysfunctional and that will be its down fall.

Wed, 10/02/2013 - 19:16 | 4016135 MeelionDollerBogus
MeelionDollerBogus's picture

But evil will triumph because good is dumb!

Wed, 10/02/2013 - 19:15 | 4016136 MeelionDollerBogus
MeelionDollerBogus's picture

Close. They are counterfeiters of LEGITIMACY, a currency is merely one aspect of legitimacy being defrauded at this moment.

Thu, 10/03/2013 - 10:27 | 4016138 MeelionDollerBogus
MeelionDollerBogus's picture

de facto, Christianity is a cult & is the origin of devil worship.

Wed, 10/02/2013 - 11:27 | 4013900 Herd Redirectio...
Herd Redirection Committee's picture

Two words:  Dry powder.

This is typical of TPTB.  Manipulation only lasts as long as the manipulation is active, i.e. ongoing.  Which also means they have to sink more and more money into the manipulation.   Like say they short paper gold, to actually realize that profit you have to net the position, and go long paper gold.  In the process their entire slamdown is reversed.

A $30 or $40 gold move used to be a big deal.  Somehow it (and $1+ moves in silver) have become practically every day occurrences.

I still think we see a 'punctuated equilibrium', gold will be at $1400 to $2000 until one day, when you can't even buy it with USD.

Wed, 10/02/2013 - 19:16 | 4016140 MeelionDollerBogus
MeelionDollerBogus's picture

concept INVERSION. Cash is not dry powder, it's a manipulated theft of income & wealth.
Gold & silver are dry powder for the coming collapse. Got gold?

Wed, 10/02/2013 - 19:21 | 4016159 MeelionDollerBogus
Wed, 10/02/2013 - 11:05 | 4013777 therover
therover's picture

Think of this dip as a blip in the long term overall trend, which is up in my view.

Only issue physical stackers have to deal with, mentally, is how many fake FRN's they need to shell out to get the physical. Sometimes a bit more, sometimes a bit less, but if you continue to remember the fake paper prices(including leverage and all deriviatives)  vs physical ounces ratio, and how that continues to climb......no worries.

Wed, 10/02/2013 - 11:28 | 4013901 Canadian Dirtlump
Canadian Dirtlump's picture

just wait til the next one. At these prices gold and silver are still a gift. The only possible better gift would be to get a job as a comedy writer for the onion news business edition aka.. well you know.. accredited times.

 

http://www.sportsgrid.com/wp-content/uploads/2012/03/LoveLooksUpLA-628x3...

Wed, 10/02/2013 - 19:24 | 4016174 MeelionDollerBogus
MeelionDollerBogus's picture

Grr. short-termers.
ANY PRICE under $5000 usd/oz gold is a dip to buy. Some dips are just better than others. It's still time to buy.
When I first bought gold it was 1275/oz and I bought all the way down to 1100.
It's TIME.

Wed, 10/02/2013 - 11:10 | 4013799 fockewulf190
fockewulf190's picture

I know of no one selling physical gold and silver.  The paper games will soon come to an end, and the true price will be revealed.  Frankly, I wish the Fed would push gold back down to $200 and silver to $5.  I´d  buy every single ounce I  could get my hands on and then some.

Wed, 10/02/2013 - 11:41 | 4013956 Enslavethechild...
EnslavethechildrenforBen's picture

The GLD and SLV are basically job offers for miners, they either keep their mines open or close them. Nothing is stopping JPMorgue from printing Quadrillions of shares. No one is overseeing them or capable of prosecuting them. Your shares of GLD are being diluted every second of every minute, every hour, every day. They can reverse that at any moment they choose. The price has nothing to do with supply and demand and won't for another 30 years...

Wed, 10/02/2013 - 11:14 | 4013832 Crash Overide
Crash Overide's picture

JP Morgan floods the market with paper contracts on behalf of their "customers" FED and USG. What did Bart say to everyone, you are on you're own... Isn't that pretty much saying the government is rigging the market and they are not going to stop let alone prosecute themselves...?

Wed, 10/02/2013 - 10:53 | 4013729 greatbeard
greatbeard's picture

>> But when the movement is down, it is

I'm not privy to price volume action so I really can't say.  Did someone put in a market purchase order for 1,000s of contracts instantaneously like they do when the market crashes?  I think your answer would be in that information, if truth is what you are after.

Wed, 10/02/2013 - 11:03 | 4013772 Clint Liquor
Clint Liquor's picture

Consolidation of the trade is the key. Along with timing. Did the movement up occur when most markets were closed?

 

Wed, 10/02/2013 - 10:53 | 4013730 monopoly
monopoly's picture

Hey million. It is all manipulated. No difference either way. Now, the computers just reversed direction to the bull side. There are no free markets but at least we can put our money where the real truth lies. And I do not mean AMZN. Love that they announce they are hiring 70.000 workers for the Holiday season. What they fail to mention is that they will fire the same 70,000 in January. 

 

Wed, 10/02/2013 - 10:54 | 4013732 Yen Cross
Yen Cross's picture

   MDB, don't you have a blog to run?(Kindergarten to attend) All you do is clog up thread topics, with your need for attention.

  You must have a couple followers that like to play in the sandbox with you. (Raùl & Fidel Castro come to mind)

 

Wed, 10/02/2013 - 10:57 | 4013741 buyingsterling
buyingsterling's picture

The supply (DENOMINATOR) is relatively fixed, so when the numerator expands, the price should consistently rise as the numerator grows.

If this market works as a price discovery mechanism, how do you account for $50 silver and two years later, with a much higher numerator, $18 silver?

Putting your faith in markets is putting your faith in the powers that be. Those powers are selfish and corrupt, and unchecked.

Wed, 10/02/2013 - 11:03 | 4013768 Save_America1st
Save_America1st's picture

@MDB:

only in paper...phyzz prices barely moved during the paper waterfall yesterday.  You couldn't get a silver Buffalo for 22 bucks anywhere...they're still going to be around 24 bucks or more.

You know that you know better than to say junk like that man...we all know you're just screwing around, but one of these days you should just fess up and drop the charade. LOL

Maybe we can go back to our previous conversation about opening up an Unobtainium paper market since physical metals don't matter...just paper.  LOL

Wed, 10/02/2013 - 19:24 | 4016180 MeelionDollerBogus
MeelionDollerBogus's picture

If you can get AIG & Goldman on it you'll be rich in no time!

Wed, 10/02/2013 - 11:17 | 4013795 giovanni_f
giovanni_f's picture

Volatility not good for Gold. Volatility good for Hedge sellers (JP Morgue). And for regulators because Gold now appears as volatile commodity which must not be used for protection. Treasuries look very very good because backed by da Gubbamint, at least for top-notch-investment-advisor-geniuses like MDB and Kim Kardashian.

Downward Manipulation: JP Morgan wins. Pigs get slaughtered. Regulators look the other way. PPT pleased.

Upward Manipulation: JP Morgan wins. Pigs get slaughtered. Regulator watches closely. PPT not pleased.

Wed, 10/02/2013 - 11:20 | 4013868 Ghordius
Ghordius's picture

+1, giovanni_f. consider that for some the purpose is to shake "moneyness" out of gold

Wed, 10/02/2013 - 11:30 | 4013930 giovanni_f
giovanni_f's picture

Also not good for mining industry and the millions of jobs depending on it. Volatility bad for revenue and investment planning.

"The Geneva-based International Labour Organization reported that in 2010 there were 1.5 million people employed in the mining sector in developed nations, and 2.2 million in developing/emerging nations.[2] The number of people working in mining jobs dropped significantly during the 2008 recession, although many of these jobs have since returned.[2] In addition, artisanal and small-scale mining employs an estimated 25 million people worldwide, and indirectly supports more than 150 million people.[3]"

http://www.miningfacts.org/Economy/How-many-jobs-depend-on-the-mining-in...

Wed, 10/02/2013 - 19:26 | 4016197 MeelionDollerBogus
MeelionDollerBogus's picture

Not to worry, I'm sure there's a poor Nigerian prince selling gold dust who needs my help right away.

Wed, 10/02/2013 - 11:37 | 4013955 Herd Redirectio...
Herd Redirection Committee's picture

Oh yeah, gold has not been a safe haven for the common man/woman these last few years.   People who told their wives and family to buy precious metals are still viewed as paranoid and/or crackpots. 

They have accomplished the mission in that sense.

But another fella shared some true wisdom.  You don't give the wife the spiel about fiat currency and USD devaluation and the government run amok.  You just give her some nice gold jewellry (maybe with instructions to never pawn it, but that is probably overkill).

Wed, 10/02/2013 - 12:36 | 4014228 greatbeard
greatbeard's picture

>> You just give her some nice gold jewellry

Or, if you're not pussy whipped, you go and buy whatever au or ag you want, put it where you want, and keep yer mouth shut.  My wife doesn't ask me when she buys more clothes that don't fit her, to stuff in the closet that's as full as her ass in a pair of jeans.

Wed, 10/02/2013 - 11:12 | 4013813 Swarmee
Swarmee's picture

So let me guess ... When an air-filled beach ball rises quickly to the surface of the water it's not manipulation. But when it is forced down below the surface of the water it is?

Wed, 10/02/2013 - 11:16 | 4013837 Conax
Conax's picture

No.

Spiking up after a stop-tripping raid is what I call a "cor-rec'-tion".  Demand is there, fiat debasement is running at WOT, so the only true direction for prices of anything is UP.

But you know that, you silly troll.  Keep up the bad work. ;)

Wed, 10/02/2013 - 11:16 | 4013839 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

The difference is todays moves didn't come at 8:01, 8:31 and 10:01 exactly.

Wed, 10/02/2013 - 12:45 | 4014265 seek
seek's picture

The issue, MDB, is that when stocks have a N sigma upward move, they're falling over themselves in the media about how great it is, and when it's a N sigma downward move for gold, they do the same.

But, when there's a N sigma upward move in gold -- it's doesn't get covered. The bias is astonishingly obvious.

Everything is manipulated at the moment.

Wed, 10/02/2013 - 13:00 | 4014336 dogmete
dogmete's picture

Silly question. What good does it do the manipulators to support real money?

Wed, 10/02/2013 - 19:30 | 4016209 MeelionDollerBogus
MeelionDollerBogus's picture

OOoo. Time for a picture change for me too!
SupaSTAAAAhhhhhh

Wed, 10/02/2013 - 10:42 | 4013676 malikai
Wed, 10/02/2013 - 10:43 | 4013680 bania
bania's picture

Bought some gold and silver this morning. Don't worry, it'll go down again.

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