And Now Gold Is Soaring

Tyler Durden's picture




 

Short-squeeze time? ... and suddenly CNBC goes quiet on the precious metals market movements.

 

 

The last 2 months has seen shorts pile back on in the futures market are squeezing in the fall...

 

We expect the BIS' Mikael Charoze, who is currently "red" after the recent gold slamdown, to promptly return to "green" at which point gold will once again mysteriously crash to its 2013 lows.

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Tue, 12/31/2013 - 11:18 | 4288226 GVB
GVB's picture

Early fireworks. Happy 2014 ZH'ers.

Tue, 12/31/2013 - 11:23 | 4288247 philosophers bone
philosophers bone's picture

Why do the PM price and a stacker's proximity to the coin shop have an inverse relationship?  (Price goes up as you get closer; goes down as you get further away)

Tue, 12/31/2013 - 11:30 | 4288285 Deo vindice
Deo vindice's picture

To me it looks like silver has been the focus of the past few days. That's where the hammer has really been pounding.

Tue, 12/31/2013 - 11:33 | 4288312 BaBaBouy
BaBaBouy's picture

canada Selling Last FewbOf Its GOLD Coins Left (BOC Used TO Have 26 Mill Ozs)...

Bank of Canada's gold coins to be liquidated to help balance government's budget

http://www.theglobeandmail.com/news/politics/bank-of-canadas-gold-coins-...

Canada's first gold coins had barely been minted before Ottawa yanked them out of circulation a hundred years ago in an effort to stop gold from leaving the country during the First World War.

Tue, 12/31/2013 - 11:37 | 4288326 Pegasus Muse
Pegasus Muse's picture

Interesting read.

====

GoldMoney's Head of Research Alasdair Macleod - Precious Metals in 2014

I therefore come to two conclusions for 2014: that we are heading towards a second and unexpected financial and currency crisis which can happen at any time, and that the lack of gold ownership in welfare-driven economies is set to accelerate the rate at which a collapse in purchasing power may occur.

http://www.goldmoney.com/research/research-archive/precious-metals-in-2014#

Tue, 12/31/2013 - 11:39 | 4288332 Pladizow
Pladizow's picture

Who the fuck classifies $7 as soaring???

Tue, 12/31/2013 - 11:40 | 4288333 malikai
malikai's picture

Probably people who are certain that down is manipulation and up is the squeeze that will crush JPM.

Tue, 12/31/2013 - 11:47 | 4288347 BaBaBouy
BaBaBouy's picture

SOARING ???

Hey, $7 Bucks To The BUM At the Street Corner IS "SOARING!"...

Tue, 12/31/2013 - 11:52 | 4288358 BaBaBouy
BaBaBouy's picture

BTW ......... On SILVER

Check The Silver ETF, Has NOT Gone Down Any, While The GOLD Etf
Has Been Decimated.

SILVER Is In VERY STRONG HANDS...
(They Don't Seem To Give A Fuck About The Paper Price).

Tue, 12/31/2013 - 11:55 | 4288371 TeamDepends
TeamDepends's picture

Cheers, and while we're at it, HALLELUJAH!!!!

Tue, 12/31/2013 - 12:01 | 4288400 FranSix
FranSix's picture

Globe And Mail article here.

Canada sold all of its 400 tonnes gold stored in the Mint during previous Liberal and Conservative governments.  Partly due to disbelief in bullion as a diversification asset, and partly due to a bond market downgrade in the 1990's.

The Canadian dollar sufferred accordingly.

The Conservative economics model in Canada now consists of the central bank swapping government bonds for illiquid mortgage derivative contracts, mostly propping up the housing bubble and bank stock prices.

Tue, 12/31/2013 - 12:07 | 4288426 fonestar
fonestar's picture

I don't care what they tell me the price of gold & silver is.

I did have a chance to add to my collection on my recent trip though.  Just some more 80% and 90% junk plus some neat 1980 Mexican one ounce coin.  The dealer I started off with five years ago on the west coast told me when I went in to see him that it is extremely hard for him to come accross any sizable amount of junk silver now.  Hopefully they lose control of these markets in 2014 but even if they don't it's still inevitable.

Tue, 12/31/2013 - 13:59 | 4288603 jbvtme
Tue, 12/31/2013 - 14:48 | 4289034 gold-is-not-dead
gold-is-not-dead's picture

feel so glad about 1toz on my neck bought yesterday for btcs... happy new year guys...

Tue, 12/31/2013 - 14:55 | 4289068 BoNeSxxx
BoNeSxxx's picture

Somebody REALLY wants gold to close under $1,200 for the year.

They are trying REALLY hard at it.

Methinks thou doth protest too much...

Tue, 12/31/2013 - 18:42 | 4289710 BitStorm
BitStorm's picture

You guys are honestly high-fiving over a .74% gain today in gold and a .66% loss in silver?

Tue, 12/31/2013 - 12:16 | 4288465 Odin
Odin's picture

They've been trying for 6 months to pin silver below 18.60... A'int going to happen... Keep trying bitchez.

Tue, 12/31/2013 - 17:33 | 4289529 IMACOINNUT
IMACOINNUT's picture

Deleted

Tue, 12/31/2013 - 19:27 | 4289805 StychoKiller
StychoKiller's picture

Decimated != Devastated

Tue, 12/31/2013 - 13:28 | 4288744 Zionist Jew
Zionist Jew's picture

Soaring indeed! Lulz

You paranoid loons have been barking about a dollar collapse for years.  Keep "stacking the phyz", we can beat the markets down at will.

If you want long term security, start running errands for your local Jewish community on Saturdays, we can always use a few more shabbos goy.

Tue, 12/31/2013 - 16:26 | 4289331 Cumulus Nimbus
Cumulus Nimbus's picture

Yawn. Trying too hard seems to just get you ignored troll. Perhaps you should try being a little more subtle and someone might pay you some notice.

Tue, 12/31/2013 - 12:14 | 4288458 RockRiver
RockRiver's picture

Who the fuck classifies $7 as soaring???

 

Might only be up 7 bux but it's 27 bux off the daily low. That might be "soaring".

Tue, 12/31/2013 - 12:17 | 4288469 Pladizow
Pladizow's picture

What % off the lows  - and is that soaring - perhaps an attempt at reverse propoganda?

Tue, 12/31/2013 - 12:26 | 4288514 RockRiver
RockRiver's picture

What % off the lows  - and is that soaring - perhaps an attempt at reverse propoganda?

 

2.2%

Tue, 12/31/2013 - 12:32 | 4288547 Phillycheesesteak
Phillycheesesteak's picture

Off the daily low? Or off the 52 week low from...last week? Wake me up when it gets past $1500 again.

Tue, 12/31/2013 - 18:40 | 4289711 BitStorm
BitStorm's picture

Soaring like submarines!

Tue, 12/31/2013 - 12:37 | 4288572 beegle
beegle's picture

well , isn not really 7 , more like 25 ... but yeah , you are right , nothing compared to whats coming .... 

Tue, 12/31/2013 - 16:52 | 4289422 QQQBall
QQQBall's picture

First the Income Statement - then the Balance Sheet...

 

Signed, Qbz

Tue, 12/31/2013 - 11:26 | 4288287 TeamDepends
TeamDepends's picture

Tonight we're gonna party like it's Gold 10,000 FRN's

Yeeeaaahhh

Tue, 12/31/2013 - 11:43 | 4288318 Ignatius
Ignatius's picture

At some point the Chinese are gonna protect their gold hedge by supporting the price.

Timing is a bitch (trust me, I dated her sister).

Tue, 12/31/2013 - 11:38 | 4288325 pods
pods's picture

I thought a short squeeze was something you did when you were with the missus and needed to last a bit longer?

pods

Tue, 12/31/2013 - 12:05 | 4288415 Murf_DaSurf
Murf_DaSurf's picture

 

 

 

What Channel do they broadcast the 50-year old white guy flash mob instructions? Anyone?

Tue, 12/31/2013 - 11:32 | 4288308 Stoploss
Stoploss's picture

Mikael Charoze,

 

DOESN'T HAVE A HAIR ON HIS ASS IF HE CAN'T GET GOLD TO 900...

Tue, 12/31/2013 - 16:41 | 4289385 MedTechEntrepreneur
MedTechEntrepreneur's picture

"Why do the PM price and a stacker's proximity to the coin shop have an inverse relationship? "

Simple....turn off the GPS locator on your cell phone.

<NSA tip>

Tue, 12/31/2013 - 11:23 | 4288251 gmrpeabody
gmrpeabody's picture

They knocked it down this morning to make the point that they were in full control...

Oops, it looks like it may not be FULL control.

Tue, 12/31/2013 - 11:26 | 4288265 jcaz
jcaz's picture

Trading against Gartman's calls is MONEY-  thanks, CNBC!!! 

Tue, 12/31/2013 - 12:45 | 4288606 Xibalba
Xibalba's picture

The only reason paper gold exists is to torture that douche

Tue, 12/31/2013 - 11:30 | 4288302 Keyser
Keyser's picture

Ok guys, how many of you broke your piggy banks this morning and drove the price higher? I didn't even have time to get an order in with APMEX before the bounce. 

Tue, 12/31/2013 - 11:35 | 4288322 thunderchief
thunderchief's picture

It's funny how much the mainstream media covers gold these days and bashes it every chance they get. Who are the true gold bug fanatics? Look no further than the manipulators and mainstream media obsession with beating it down every chance they get.
Most PM investors don't care about this paper BS either direction, but just watch CNBC and Bloomberg trip all over themselves on days like this.

Tue, 12/31/2013 - 11:48 | 4288361 ZH Snob
ZH Snob's picture

hope they slam it down again.  I still got some major stackin' to do.

Tue, 12/31/2013 - 11:17 | 4288228 GetZeeGold
GetZeeGold's picture

 

 

Oopsee daisy!

Tue, 12/31/2013 - 11:16 | 4288229 JPMorgan
JPMorgan's picture

Volatility ahead, hold on people.

Tue, 12/31/2013 - 11:20 | 4288239 ParkAveFlasher
ParkAveFlasher's picture

Just want to let everyone know, I just checked, mine is still shiny.

Tue, 12/31/2013 - 11:27 | 4288292 Rubbish
Rubbish's picture

Lucky you, mines covered in tons of earthen brown.

 

Shorters soiled their pants on that move.

Tue, 12/31/2013 - 11:32 | 4288309 TeamDepends
TeamDepends's picture

We tried and tried to save them.  Their pants that is.

Tue, 12/31/2013 - 11:30 | 4288293 Rory_Breaker
Rory_Breaker's picture

MIne's below lake level

Tue, 12/31/2013 - 11:56 | 4288373 bentaxle
bentaxle's picture

...and what about your stack?

Tue, 12/31/2013 - 11:18 | 4288241 tarsubil
tarsubil's picture

Just look at the long term chart of gold and silver. Future volatility will probably be orders of magnitude higher.

Tue, 12/31/2013 - 11:26 | 4288267 101 years and c...
101 years and counting's picture

$7 drops are manipulation and $30 spurts are "normal".  love the comedy all the whiners on this board provide.

Tue, 12/31/2013 - 11:44 | 4288337 TeamDepends
TeamDepends's picture

Gold $800 ain't gonna happen my man.  How long did today's smash last?  Ten minutes, twenty?  The jig is up, they've lost control of the bull and he's having a good time in the china shop.

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