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US Stocks & Gold Rise As Brits Pound USD On Thanksgiving

Tyler Durden's picture




 

With the bulk of the US still sleeping on this day of giving thanks, it is perhaps ironic that the Brits have been pounding away at the USD driving GBPUSD to 2013 highs. S&P futures jerked higher on the European open and clung to those gains, extending yesterday's small green close to new record highs (+4.5 points). US Treasury futures sold off modestly then recovered back to unch as the USD slipped gently lower (even as JPY weakness continued). Gold and silver are up around 0.5% from yesterday's close.

 

The Brits are punding (pun intended) the USD...

 

But that won't stop US stocks from rising...

 

Treasuries round trip from earlier weakness...

 

but gold has been limping higher (with no ubiquitous smackdown yet) since the US closed...

 

Charts: Bloomberg

 

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Thu, 11/28/2013 - 12:33 | 4196815 kliguy38
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hehehehe.........this game is getting much closer to its resolution.......you've all been given a gift.......hope you've used it to accumulate

Thu, 11/28/2013 - 18:11 | 4197756 Jannn
Thu, 11/28/2013 - 12:36 | 4196822 manonfire666
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Gold and S&P should meet at $1360/$1366

Thu, 11/28/2013 - 12:42 | 4196852 max2205
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Spy tlt pair back above Lehman crisis level.....everyone can relax

Thu, 11/28/2013 - 16:48 | 4197539 Haager
Haager's picture

And then? Role-change...

Thu, 11/28/2013 - 12:37 | 4196823 prains
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k.i.l.l.s.w.i.t.c.h.........in 3

Thu, 11/28/2013 - 12:36 | 4196826 FiatFapper
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There's barely a green candle on gold daily; are tylers trying to feed the bid algo's?

Thu, 11/28/2013 - 13:06 | 4196876 Son of Captain Nemo
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Like we care what the GBP does.  It is as worthelss as USD and both deserve one another.  They made their bed.

This should be a headline for WB7 that strangely hasn't gotten much noteriety around here.  Will be interested to see if anyone picked this up yet.  Including the revelations about the Iran deal being less than truthful of what's been reported including the gold for oil settlement, looks like Goldman Sachs is heading into a very unpleasant holiday season.

http://investmentwatchblog.com/venezuela-denies-goldmans-gold-deal-as-inflation-tops-54/

Thu, 11/28/2013 - 13:15 | 4196964 disabledvet
disabledvet's picture

ummm...our dollar is price in oil...soon to be about 10 million barrels a day "not available for export." that doesn't include natural gas either....which we are now the world's largest producer of. that also cannot be exported either. if the Federal Government starts ironing out its problems with weapons procurement we could have a 10,000 ship Navy in the next five years. Unless of course we're talking "gold covertability." Great Britain had one of those for many centuries.

Thu, 11/28/2013 - 13:40 | 4197052 Son of Captain Nemo
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10,000 ship Navy?...

You mean with deals going south like this one?

http://www.rawstory.com/rs/2013/11/28/exxon-sells-controversial-iraq-oil-stake-to-petrochina/

Somehow I don't see us coming up with the funding for that Navy unless some patrons volunteer and with the idle threats of B-52s in that part of the World for pegging their currency to oil with something other than USD, the PR campaign for the "schizophrenic empire" ain't working out too well.

Moar War?

 

 

Thu, 11/28/2013 - 12:48 | 4196882 ChaosEquilibrium
ChaosEquilibrium's picture

ENGLAND:  It is the ONLY day England can be a 'World Player"......English still resentful of the Pilgrims, Turkeys, Apple Pie, Colonists, Minutemen, non-traditional Battle Manuever.....and American football!!

 

FUCK the BRITISH!!

 

Thu, 11/28/2013 - 12:56 | 4196908 credittrader
credittrader's picture

"football"? Don't you mean "throwball"?

Thu, 11/28/2013 - 13:12 | 4196953 1C3-N1N3
Thu, 11/28/2013 - 13:02 | 4196921 Son of Captain Nemo
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And fuck the United States of America!

Happy Thanksgiving white man

signed

Wampanoag Indian tribe

Thu, 11/28/2013 - 13:14 | 4196963 greatbeard
greatbeard's picture

>> Wampanoag Indian tribe

You guys may have been first, but don't count us out,

signed

A Confederate

Thu, 11/28/2013 - 13:33 | 4197036 10mm
10mm's picture

Im from the WOPAHO tribe, half Italian half Indian. Hey how are ya hey how are ya.

Thu, 11/28/2013 - 13:46 | 4197067 Son of Captain Nemo
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They're not "counting you out" as they were marginalized and erased long ago once we got what we needed from them. 

Isn't that what we do the best?

Just ask the tribes in Iraq, Afghanistan, Libya and Syria for the modern day version?

We look at ourselves differently from mother England but the embarrassing truth is we never left them "nor they us".

Thu, 11/28/2013 - 13:17 | 4196978 greatbeard
greatbeard's picture

>> FUCK the BRITISH!!

I've seen a few I'd like to fuck but my tendency is towards more pigmented skin.  Still, puffy pasty white titties will do in a pinch.  Many a doughboy fell to their allure.

 

 

Thu, 11/28/2013 - 13:32 | 4197033 Emergency Ward
Emergency Ward's picture

They hate us for our protective gear.

Thu, 11/28/2013 - 13:13 | 4196955 robertocarlos
robertocarlos's picture

I can't believe the Redskins aren't playing the Cowboys.

Thu, 11/28/2013 - 13:29 | 4197017 quasimodo
quasimodo's picture

I can't believe I am still a Cowboys fan, and expect many down arrows for actually admitting it here.

Fuck you Jerry Jones, fuck you very much

Thu, 11/28/2013 - 13:48 | 4197075 greatbeard
greatbeard's picture

>> I can't believe I am still a Cowboys fan,

Count your blessings.  I was a Bucs fan since their inception. I couldn't force myself to root for anyone else, even after I'd left the area.  I finally got to the point that I no longer watch, or follow, any sports of any kind and that has solved my problem.  But sheesh, what an ugly birthmark, allegiance to a shit team coached by shit coaches and owned by shit owners who have the run of a stadium that is the result of the PTB in that backwater town shitting on the local population tax wise.  Spectator sports in all it's forms has been totally corrupted by the all mighty (for now) dollar.

Thu, 11/28/2013 - 17:33 | 4197658 samcontrol
samcontrol's picture

you where also a cubs fan, don,t you wish you knew how i know that..

Thu, 11/28/2013 - 13:33 | 4197024 Emergency Ward
Emergency Ward's picture

At least Los Empacadores are playing Los Leones.

Thu, 11/28/2013 - 13:36 | 4197042 MrPoopypants
MrPoopypants's picture

BOE has hinted that rates will rise as soon as Dec. 2014 (brought forward from 2016). I don't believe it, but the market apparently does. In any case, BOE is less insane than Fed or BOJ.

Also, this breakout has been tested several times in the past several months. New-high trend and breakout traders have jumped on this, it was predictable regardless of the US holiday. Only question is, will the GBP keep running? Room to run up to 2.0 USD/GBP, an historical mean.

Thu, 11/28/2013 - 14:18 | 4197173 tawse57
tawse57's picture

Thanksgiving - when 300 million Yanks hero worship a tiny bunch of religious nutjobs whose ideas were so whacky that they were kicked out of secular Britain. They fled to Europe where the Europeans soon realised that they were religious whack-jobs and promptly sent them back to Britain.

Of course, several hundred years of propaganda has turned this lot into some kind of freedom fighters when their religious beliefs were so nutty that the Taleban would have had doubts about inviting them around for tea.

Go ahead though and enjoy the turkey, it's not as if the US is unfamiliar with bizarre religious cults is it?

Happy thanksgiving American friends :-)

Thu, 11/28/2013 - 14:29 | 4197210 greatbeard
greatbeard's picture

>> hero worship a tiny bunch of religious nutjobs

I celebrate Thanksgiving when given the chance and it has nothing to do with those "nutjobs".  Being thankful for what you have is being thankful for what you have and the pilgrims have no proprietary right to that.

Knock the chip off your shoulder and enjoy it for what it is, a good holiday that has been probably the least corporate corrupted holiday on the American calendar.  People have been feasting in the fall for eons, the pilgrims were just one of many.

 

 

Thu, 11/28/2013 - 14:26 | 4197197 Sufiy
Sufiy's picture


All crypto-currencies are rising today, USD is falling against GPB and Euro - All these flyovers will not end well for the USD...

Chinese Gold Demand And The World Gold Council’s Estimates

Alasdair Macleod provides very good explanation for the difference between Eric Sprott calculations and WGC estimates, which are dramatically underestimating the real demand for Gold from China this year.

 

http://sufiy.blogspot.co.uk/2013/11/chinese-gold-demand-and-world-gold.h...

Thu, 11/28/2013 - 17:05 | 4197584 Hongcha
Hongcha's picture

The Chinese call American football, "Olive Ball'.

Thu, 11/28/2013 - 17:06 | 4197586 Hongcha
Hongcha's picture

Agreed kliguy.

Thu, 11/28/2013 - 17:44 | 4197688 El Hosel
El Hosel's picture

 "since the US is closed..." Really?

"The Team" is closed? Worried about a weaker dollar?  The Brits going against the Bernak? What is this April Fools?

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