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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.

Wed, 10/02/2013 - 10:48 | 4013709 malikai
malikai's picture

For phys collection, you can never be sure how low it will go, but you can at least optimize your buying by picking it up on big dips like that.

There's nothing wrong with an extra 20-30% more by picking good times.

Wed, 10/02/2013 - 10:54 | 4013735 Alpo for Granny
Alpo for Granny's picture

That's gold Bania. GOLD!

Wed, 10/02/2013 - 10:58 | 4013743 onelight
onelight's picture

Larry Edelson said a couple days ago that Gold would go lower and Silver too even weaker, some follow him closely, or act on markets in sync with -- I agree it goes lower but so what, looking at charts yesterday it was way oversold and should bounce -- gold is an ancient form of savings to be accumulated by intelligent people in bullion or similar, over time and as means allow; some eras and market intervals it will be celebrated others not, so what..

Wed, 10/02/2013 - 13:18 | 4014410 ActionFive
ActionFive's picture

Larry called the silver smash in the face of infinite QE

He gave himself to name prices

Wed, 10/02/2013 - 10:46 | 4013688 Tsunami Wave
Tsunami Wave's picture

Bart Chilton better remind commodities traders once again that they are "on their own." Hint hint, nudge nudge. LOL

Wed, 10/02/2013 - 11:42 | 4013974 Herd Redirectio...
Herd Redirection Committee's picture

Tip of the hat.

Wed, 10/02/2013 - 10:45 | 4013692 FieldingMellish
FieldingMellish's picture

Bart's men on porn duty today.

Wed, 10/02/2013 - 10:46 | 4013693 JDFX
JDFX's picture

The line in the sand for gold was  $1400 last month !

Wed, 10/02/2013 - 10:46 | 4013694 Son of Captain Nemo
Son of Captain Nemo's picture

And if we have 3 consecutive days or more of "4%", expect something very unpleasant right behind it.

Wed, 10/02/2013 - 10:48 | 4013698 Manthong
Manthong's picture

What a joke..

When reality hits you will be seeing regular $100 gold swings and $5 dollar silver swings in this ponzi until the paper chase ends. 

Wed, 10/02/2013 - 11:10 | 4013810 RockRiver
RockRiver's picture

What a joke..

When reality hits you will be seeing regular $100 gold swings and $5 dollar silver swings in this ponzi until the paper chase ends.

 

I'm ready...When will this be?

Wed, 10/02/2013 - 12:55 | 4014247 Manthong
Manthong's picture

I should think it would be when the Comex and LBMA and a few others start the F.M. regular cash settlements.

We were pretty much there in 2011 (big swings in a real market when there was price discovery) before the flood (of digits)...   LTRO1, $500M Fed Swap to ECB, LTRO2, QE1, QE2, QE^e.

Wed, 10/02/2013 - 19:29 | 4016213 MeelionDollerBogus
MeelionDollerBogus's picture

Just wait till they're $500 swings.

Wed, 10/02/2013 - 10:49 | 4013701 Bam_Man
Bam_Man's picture

Forget about Gold and Silver.

I want to get my hands on one of those $Trillion Platinum coins.

Just wait and see how abso-f**king-lutely stupid this shit-show gets.

Wed, 10/02/2013 - 10:55 | 4013738 LawyerScum
LawyerScum's picture

Sorry to break this to you, but Obama accidentally put the trillion dollar coins into a cigarette machine and they are now the property of Phillip Morris.

Wed, 10/02/2013 - 10:48 | 4013702 pound the vix
pound the vix's picture

PCLN and NFLX are where all the cash is going

Wed, 10/02/2013 - 10:49 | 4013710 pound the vix
pound the vix's picture

Government workers watching movies and planning vacation

Wed, 10/02/2013 - 10:52 | 4013705 SheepDog-One
SheepDog-One's picture

And just like this and stocks, the whole previous 'ObaMao approval rating' thingy probably just plunged right back down again...that's what we get from here on out in Full Retard 'Murka. 

Wed, 10/02/2013 - 10:50 | 4013711 Hapa
Hapa's picture

Remember - all this is managed to a very high degree, so yes it will go down and up and down and up for a while longer, until the game is over.  When that time occurs and the music stops, if you've been a stacker, you'll look around behind you and lo and behold there will be a chair for you.

Wed, 10/02/2013 - 10:50 | 4013714 nxt
nxt's picture

It's manipulation both up and down,they have total control.They are

Masters of the Universe!

Wed, 10/02/2013 - 10:52 | 4013717 SheepDog-One
SheepDog-One's picture

Get back in line there S&P Private Pyle!

Wed, 10/02/2013 - 10:52 | 4013719 All Out Of Bubblegum
All Out Of Bubblegum's picture

These vertical moves are giving me whiplash but somehow I manage to keep stacking through the pain.

Wed, 10/02/2013 - 14:01 | 4014597 MeelionDollerBogus
MeelionDollerBogus's picture

Are you shitting me?
This is like driving over tiny cracks in the road. Where were you with vertical drops of -200 and +200?
I was there. And I stomached it just fine. This is NOTHING.

Wed, 10/02/2013 - 10:54 | 4013727 TaperProof
TaperProof's picture

Fitch is hinting at a downgrade

Wed, 10/02/2013 - 11:02 | 4013758 therevolutionwas
therevolutionwas's picture

US dollar went below 80.......      One of these days it will stay down, and down, and down.....

Wed, 10/02/2013 - 14:10 | 4014636 MeelionDollerBogus
MeelionDollerBogus's picture

Invalid computation: this index only inversely reflects the euro value. Others are in there but a huge weighting is euro, next is yen if I recall.

Doesn't matter. If you're not trading forex, if you're not shipping massive expenses of products from yen or euro to usd, you don't need to care. For gold & silver prices it has NO bearing. After all, gold & silver prices ALSO happen in yen, euro, aud, cad, inr, etc., and what value is USDX / DXY for this? None.

The key is to know that gold prices in ALL currencies must be watched AT THE SAME TIME, not just USD.

Wed, 10/02/2013 - 11:07 | 4013779 Sufiy
Sufiy's picture


Gold Smashed Down In Desperation As COMEX Inventory Remains Thin 


  Now we have the report from Jesse which shows us the reason for the recent run on the Gold. Game of the musical chairs is unfolding in front of our eyes, there is no Gold left for deliveries as China is taking everything availible from the system now. The very existence of Gold bullion banks fractional reserve system is under question now. http://sufiy.blogspot.co.uk/2013/10/gold-smashed-down-in-desperation-as.html# Gold Manipulation: With China On A Weeklong National Holiday - Furloughed Government Workers Selling Gold, Silver? GLD, SLV, TNR.v, MUX


"What a timing! Gold is smashed big time again and it is so convenient that China is on a weeklong National Holiday now. It is such a shame that CFTC can not find any signs of Gold & Silver market manipulation. We could not even think that 800,000 furloughed Government employees are such big Gold savers and holders up to this day...and Have to Sell Gold today to cover the delay in paychecks.   Can we safely assume that US Dollar will dive now below 0.80 and FED is already in the damage control mode? All resources are lined up to defend this line in the sand for US Dollar - below 0.80 it can experience the Waterfall stage. With Government shut down is only an opening to the Debt Ceiling gambit, we can expect more FED moves defying the normal laws of gravity for US Dollar.   We will keep you posted Who is Selling and Who is buying the cheaper Gold & Silver  this time."


Eric Sprott: "China Bought 60% of Gold Production Last Month, I Am Buying Gold And Silver Stocks Now." MUX, TNR.v


"Price of Gold and Silver will be the main driving forces for all survived companies. Eric has very bold prediction for Gold going to $2400 by next year: "The most important thing in the precious metals business - the price of precious metals. They all go up if the price of Gold will go up. The question is which one will go up 200% or 500%. If the Gold will go up to $2400, I can bet that the Gold miners index goes up 200%. What we are trying to do: where is the one which will go up 1000%."   This summer we had the capitulation in Gold and Silver stocks with the following turn around and now we are looking to the Eric Sprott and Rick Rule for guidance to run this new Bull. China will play the very important role in this big picture, according to Eric."

Wed, 10/02/2013 - 11:07 | 4013780 Seeking Aphids
Seeking Aphids's picture

Wait until November......if one single rod drops as they move it from the cooling pool in F then gold will go through the roof with the airborne readings....sure hope those guys keep a handle on the rod removal....would rather see a low gold price and clean air! All this grandstanding is a pathetic sideshow...............

Wed, 10/02/2013 - 15:10 | 4014987 MeelionDollerBogus
MeelionDollerBogus's picture

WORST of all possible outcomes.
1 gold ounce may hit 20k but at the same time safe passage away will be 1 gold ounce to start, an additional gold ounce for each 100k closer you are to ... a 2000 km radius of Fukushima Daiichi?
Something insane. I would rather see gold at $500/oz than THAT particular combination of choices.

Wed, 10/02/2013 - 11:07 | 4013788 Fiat agnostic
Fiat agnostic's picture

22 in silver isn't allowed yet - surely!?

Wed, 10/02/2013 - 11:33 | 4013938 AL_SWEARENGEN
AL_SWEARENGEN's picture

My opinion may come out of vanity: the posted price of Silver is bullshit.  It's no longer about keeping up the facade of a real market.  That was the previous strategy.  Now, its defend the 'credibility' of the Dollar at all costs.  CONfidence is the name of their game.  And it would appear confidence is breaking.

Wed, 10/02/2013 - 11:12 | 4013821 22winmag
22winmag's picture

Damn spikes... the instant silver drops below $20, I'm buying.

Wed, 10/02/2013 - 11:54 | 4014016 Herd Redirectio...
Herd Redirection Committee's picture

Good luck finding PHYS at that price.

I was able to buy a handful of SLW shares at $20 (SLW's share price has tracked the price of silver the last couple years, for fairly obvious reasons) back in late June.  The price of actual bullion is AT LEAST 10% more than the COMEX price.   Asking $24.24 on Nucleo Exchange

http://www.bulliondirect.com/nucleo/lp/US_Mint_American_Eagle_Silver_Coi...

Wed, 10/02/2013 - 13:51 | 4014547 MeelionDollerBogus
MeelionDollerBogus's picture

Indeed it has. AGQ too.

http://scharts.co/16hI9J9

AGQ calls to 2015 jan look good. I'd like to see a later contract appear soon.

Also while EDR (tsx) (exk nyse) is not so stellar hot, over time writing covered calls from each 100-lot (they aren't expensive) will eventually lead to some decent profits. It's like writing your own dividend.

Wed, 10/02/2013 - 11:12 | 4013822 JJ McApe
JJ McApe's picture

Well, nice for you. But remember the levels of April (1600) or before (1800) where the most pigs bought; are not even in reach.

I really dislike gold as investment vehicle, it's just a big symbol of greed. And if the whole system collapses trust me - the last thing you want to own is a larg amount of gold. Lol if armed gangs and psychopaths are hunting you while you want to escape frome the big cities. Better buy some guns, booze and cigs to trade.

And if the whole market crashes, goldprices will also crash. Have fun trading your gold coins for a loaf of bread.

 

Wed, 10/02/2013 - 11:17 | 4013848 Pareto
Pareto's picture

Totally uninformed and narrow view of exchange as well as an incorrect understanding on the value of gold v. its fiat price.  Do you homework before you say stupid things.

Wed, 10/02/2013 - 11:18 | 4013849 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Shit, this is the first time I've heard these arguments.  You've given me a lot to think about.

Wed, 10/02/2013 - 19:26 | 4016187 akak
akak's picture

You made me literally laugh out loud with that one!

The anti-gold trolls can be SO entertaining, can't they?  But hey, a Nadler's work is never done --- particularly in the face of the rising number of "radical goldbug extremists".

Wed, 10/02/2013 - 11:26 | 4013891 moonstears
moonstears's picture

 "Better buy some guns, booze and cigs to trade"...you forgot TP, Bic lighters and SILVER.

Wed, 10/02/2013 - 11:31 | 4013924 Non Passaran
Non Passaran's picture

Yes! I saw that kind of outcome in a movie, so that must be true!

Wed, 10/02/2013 - 15:12 | 4014991 MeelionDollerBogus
MeelionDollerBogus's picture

I will, I'll get lots of bread for each one. Greed is not bad. Theft is bad. Attacks are bad. Destruction is bad. Greed is what drives people to learn, innovate & save.
To go beyond just optimizing gains & savings is not greed, to do harm others is something else.
Greed gets a bad name because people really are meaning theft, murder, war, fraud, and just use the term "greed" in error.
Trust me we know about the armed gangs. We'll BE armed with our gold.

Wed, 10/02/2013 - 11:18 | 4013850 NIHILIST CIPHER
NIHILIST CIPHER's picture

STACKABLE STORAGE UNITS are still "WINNING" ................Best of show for 5000 years.

Wed, 10/02/2013 - 11:25 | 4013896 NIHILIST CIPHER
NIHILIST CIPHER's picture

LOL....Granny gave MDB the three finger salute.

Wed, 10/02/2013 - 11:30 | 4013925 Iam Yue2
Iam Yue2's picture

Yes, the collective Twitter brainstrust, who yesterday told us that Gold had fallen, because

A) Indian restrictions on imports
B) a report from Fitch
C) selling because of the shutdown
D) a fat finger.

Said brainstrusts had all the bases covered and they still all managed to be wrong. It is funy how they then all seem to to gomquite the following day.

Empty vessels and all thatb.....

Wed, 10/02/2013 - 11:30 | 4013926 Iam Yue2
Iam Yue2's picture

Yes, the collective Twitter brainstrust, who yesterday told us that Gold had fallen, because

A) Indian restrictions on imports
B) a report from Fitch
C) selling because of the shutdown
D) a fat finger.

Said brainstrusts had all the bases covered and they still all managed to be wrong. It is funy how they then all seem to to gomquite the following day.

Empty vessels and all thatb.....

Wed, 10/02/2013 - 11:37 | 4013947 The Devil
The Devil's picture

I even plague myself at times.

Wed, 10/02/2013 - 12:26 | 4014179 NIHILIST CIPHER
NIHILIST CIPHER's picture

I junked you because...well you know....you're THE DEVIL      Do you have a brother named Barry?

Wed, 10/02/2013 - 12:31 | 4014207 omantrader
omantrader's picture

Most investors in the world don't give a shit about precious metals. it is considered a "fringe" asset class. That is what makes it attractive to some people.

Wed, 10/02/2013 - 19:29 | 4016205 akak
akak's picture

Most investors (in the western world), like most people in the western world in general, are sheep.  And sheep invariably are sheared.

But you are wrong, as the majority of 'investors' (read: savers) in the world are in Asia, and they DO know the value of holding your so-called "fringe asset".

Let me guess, you live in New York City, am I correct?

Wed, 10/02/2013 - 12:47 | 4014268 SubjectivObject
SubjectivObject's picture

Ag:  22 .... CAP .... 22 .... CAP CAP ..... 22 Cap ..... 22 CAP ...... 22 .... CAP CAP CAP .... 22 .... CAP .... 22 .... CAP CAP ..... 22 Cap ..... 22 CAP ...... 22 .... CAP CAP CAP ....22 .... CAP .... 22 .... CAP CAP ..... 22 Cap ..... 22 CAP ...... 22 .... CAP CAP CAP [all perfectly normal] .... 22 .... CAP .... 22 .... CAP CAP ..... 22 Cap ..... 22 CAP ...... 22 .... CAP CAP CAP ....

Thu, 10/03/2013 - 10:51 | 4014497 MeelionDollerBogus
MeelionDollerBogus's picture

But if everything you say is a lie, if you say you are lying, you are telling the truth, but if you are telling the truth...

Wed, 10/02/2013 - 13:40 | 4014487 Handful of Dust
Handful of Dust's picture

Stocks tumbling and PMs gaining...makes more sense to me.

Wed, 10/02/2013 - 14:09 | 4014623 Conax
Conax's picture

The dollar index fell from 80.2 to 79.8 at 9 AM.

At nearly the same time, gold and silver popped their little woodies.

New day, same ol shit.  The beatings will commence shortly.

Wed, 10/02/2013 - 16:23 | 4015394 Youri Carma
Youri Carma's picture

My Gold version for today:

First I said, gold's doing it's job on the gov. shut down cause it went up. Shortly after somebody didn't like this and gold was bashed down (by one single seller).

Then Blankfein had to do 'God's work' and went up on the Hill to tell things are not good with the shut down and decided, well hee maybe it's better to threaten them with a lower dollar vs gold and gold went up again .... all very strange ...

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