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Gold & Silver Play Catch Up To Stocks' Un-Taper Exuberance
Silver prices are up over 1.5% this morning and gold +0.6% as the PMs play catch-up to Friday's post-NFP 'goldilocks' performance in stocks. Whether this is also fallout from Baidu's Bitcoin decision is unclear but gold did spike in early Asia trading.
Charts: Bloomberg
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Stop feeding the trolls Tyler.
Hi
Fundamentally, nothing has changed!
Keep preparing for the inevitable shifts in currency dominence as China continues to stockpile Gold.
China's push to elevate their Yuan to the head of the class will not end until that is achieved.
As this push continues, every player on the world stage will look for opportunity creating more volatility.
These charts can be copied and pasted into any day moving forward, until doomsday, whenever the hell that is.
DaddyO
Yeah, but the US has way more gold than anyone else according to that graph I saw here the other day.
I'm not the least bit worried. And BTW, we have as much oil as three Saudi Arabias' somewhere up in ND, according to some Porter Stansbury guy.
/sarc
Porter Stansbury is the guy who claimed to have predicted the financial crisis.
But he's a lying jerk.
The votes are in...
http://www.zerohedge.com/news/2013-12-06/spot-todays-odd-one-out#comment-4222931
And the winners are......
Who joined my up gold this week. Copy cat!
All ups, we made the bottom twice.
Trend is your friend
And the Trend is down..............for now!
Turkey’s gold imports have soared.
http://www.balkans.com/open-news.php?uniquenumber=185890
There are other stories found at balkans.com that are of interest to ZHers:
Cyprus looks to update tax deals
"Cyprus needs to urgently update, renegotiate and expand many of its double taxation agreements, some of which were signed decades ago, including some before the 1970s "
http://incyprus.philenews.com/en-gb/Top-Stories-News/4342/38462/cyprus-l...
Greece's million unpaid workers
http://www.bbc.co.uk/news/world-europe-25215690
One million Greek workers unpaid
http://www.bbc.co.uk/news/world-europe-25228162
National [Bank of Greece] puts Gerakina Beach hotel complex up for sale again
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_08/12/2013_531309
Should see gold move higher as said last week.
http://bullandbearmash.com/chart/spot-gold-daily-closes-channel-support-...
Could hit 1300 again.
A year ago today gold was $1697. I wouldn't call $1235 a spike... it's more of a dust speck.
The Chinese seem to love gold at this low price, any doubters will soon be silenced when there is a Global currency reset and the dollars fall as the reserve currency. its only a matter of time but is inevitable
Gold @ it's production cost is very appealing. I'd love to see treasuries at it's 'production' cost.
The last number I read was $0.14 per bill that the US Treasury charges the FED for printing Federal Reserve Notes. It made no difference if it is a $100 or a $1 bill. This might have changed due to the new 'secure' $100 bills.
I don't know why the FED cares about all of the counterfeiting. They want liquidity and inflation, does it really matter who prints it?
Per Linsey Williams this might happen in the next 90 days. For those who follow him and his elite source.
Oh Gawd... You dont really listen to Windsey Williams and the elite voices in his head?
I listen to everything. Do you listen to uncle Ben? See my point!
Good grief, the guy was right once? A preacher hangs out in AL with some oil tycoons, is correct on maybe one prediction and in the meantime has books you can buy.
Not saying he does not believe what he thinks is true but he is no prophet.
Funny thats one more than the Fed. I'm just reporting what his latest interview which related to currency reset. U f'ers are touchy about the pastor aren't ya!
Wake me when it's back under $300 an ounce, that's the last time I took delivery, just over ten years ago. You do expect to preserve your wealth for more than ten years don't you?
Yes, my thinking exactly.
These daily moves are meaningless when one takes your suggestion.
DaddyO
Look, I really LIKE my Precious (PM mix). But I'm not an irrational zealot (Jehovah's Witness - JW - class), like some here.
Just hope that I don't have to cash in the (overpriced/pre-manipulated) stuff I got last year. That would hurt. Big time. And in a classic case of "Woulda, Coulda, Shoulda", yes, I wish I had sold in Nov. 2012 and made a decent 10% profit, and I wish I had then bought 6-figures in BTC and made a 10x killing now.
But that's life: "Woulda, Coulda, Shoulda" and PGA (Post-Game Analysis) games. Time to move on from Old Lessons Re-Learned: (a) Allocate in balanced and rational manner, and (b) allocate but don't over-allocate on hi-risk/hi-return vehicles. I strayed from these time-proven principles and paid the price. / Never again! Till next time. /sarc
In the meantime, dear Tyler(s), please keep some Intellectual Integrity by not calling every up-tick in PM as anything other than that. As I have been repeating endlessly since April, after a multi-year bull-run, PMs are in a SIDEWAYS market. Deal with it!* I have. Don't give a SHIT as to "why", or that it is "manipulated" by TPTB. Name something of value that isn't "manipulated", for Chrissakes!
Also, dear Tyler(s), speaking of Intellectual Integrity, either please define your terms or stop referring to price volatility in BTC as a "Crash" (given its "upward Crash" going on now). Lest ZH truly becomes what some of my millionaire friends already call ZH: "The National Enquirer of financial and business journalism". Their words, not mine.
* Speaking of Dealing With It, based on the principles of monetizing assets after a great bull-run and investing a good chunk in other assets that promise a bull-run, the really smart (and lucky) money would have cashed in their PM gains last fall, put it some of it into BTC (seen a 10x gain), and then plowed some of it right back back into PM right about now. Then you'd REALLY have something to crow about: Great gains in PM, plus wild gains in BTC.
And you "BTC Naysayers"... Please, please, please don't forget (or do come to realize) that... Gold+BTC are THE Perfect Couple: Both take VoM out of fiat, both are decentralized, peer-to-peer, outside CBs, and both are libertarian/Libertarian vehicles of money+currency. Gold is libertarian Money, BTC is libertarian Currency. So, unless you have some "learning disability" (stupid), suffer from "congenital stubborness" (jackass), or are an Agent/Troll (agenda/payroll), please come around to the Enlightened side and accept that the Gold+BTC pair as the greatest thing since canned beer, sliced bread and quality condoms.
Silver price took off today when New York opened; not in Asian Trade. I would regard this as bullish at least for a short term trade; a couple of months, or so.
What's 1.5% of zero?
A Bitcoin?
The move in gold resembles an octagenarian's erection.
http://es.wikipedia.org/wiki/Alan_Greenspan
Yep!
Why is gold / Silver still traded?
Why not just tell us what they have decided it should be and get on with it?
Yes, that's happening. Price fixing is a characteristic of controlled markets, which are, themselves, characteristic of dictatorial regimes.
i'll be short futures at 1200$, physical long still stacked, fundamentals solid but charts not looking good
Gold soaring? How about BTFD? Silver under $20 is comical. Like buying it at $4 or $5 in 2001.
That is exactly what I was thinking. +1
+1
when Gold hits $2,200..then thats a catch up....not this little move up today
Ho, sorry, have we ran out of inventory at comex and lbma? If not, increase leverage and lower the f... price.
Delivery failures, paper settlements, burning derivatives and a 6 month black hole in pm price discovery. That's a catchup.
With gold and silver having fallen so much this year surely plenty will be tempted to liquidate between now and Dec 31st to off-set PM losses against DOW profits for tax purposes?
With gold and silver having fallen so much this year surely plenty will be tempted to liquidate between now and Dec 31st to off-set PM losses against DOW profits for tax purposes?
At the 28% collectible tax rate regardless of hold time? I'd bet that the 28% has moved most GLD/SLV trading into tax-sheltered accounts.
As usual, when there's no news to report, they make a mountain out of a molehill.
If gold tops 1250 and holds, that'd be worth mentioning.
Up-spike of a wowser $7 from the very sticky 1228 pivot only means that someone somewhere decided to buy.
Wake up and Smell the tulips - When will the Bitcoin Bubble burst?
Madness of crowds is presented on the chart above and it is our top pick for the chart of 2013. Erik Steiner has created a very good presentation on Bitcoin: discussing in depth advantages and disadvantages of this particular crypto-currency and why it is now in the Bubble stage. His observations about the possibility that the Ponzi Scheme architecture is created by design in Bitcoin are very intriguing. We will add that recent push of Bitcoin by Bank of America, CITI and Merrill Lynch are not very aligned with the "freedom fighters". It looks more and more that corporate interests are already running it wild if they were not the creators of "Gold 2.0" from the beginning in order to distract 99% from the real values of Gold and Silver. Latest report from China shows that not all the world went crazy these days. http://sufiy.blogspot.co.uk/2013/12/wake-up-and-smell-tulips-when-will.h...
Picked up my new Krugerands today. They are the first 1oz coins I have bought and the first foreign ones. They are beauties! Thanks for the low prices Benny Boy.
Might have to add today too... Ever notice how after08/07 the "liberty" on silver eagles looks larger? Freaked me out because there isnt much on the topic. Guess the mint switched something that year
Never mind that China realized long ago the US dollars it holds are now worthless confetti. They are way past that. China realizes that with its huge credit bubble in its own currency, it had better accumulate gold in case the yuan were to suffer the same fate. With all the gold it has accumulated, they'd have a figting chance of establishing a new currency that is backed by something, although the conversion rate in either yuan or dollars per oz of gold would be astronomical. But hey, at least they would have something in the traditional PM department, even if the "basket" approach to currency (oil, copper, grain etc) has merit.
It should be interesting to see how much So. African mine production of gold goes off line in the next few months.
the most interesting thing is that the us$ index does not include cny and china is our biggest trading nation than other nations.