Gold Spikes To Highest Since November

Tyler Durden's picture

Following yesterday's early morning surge when gold jumped $30 from the low $1230, on news that India may relax its gold capital controls, today's sharp spike follow through is more a function of ongoing emerging market currency devaluation and overall risk-offness hitting equities around the globe. And with Bitcoin going nowhere even as both Turkey and Argentina continue to turmoil, it means there is only one good old faithful fiat-alternative - the barbarous relic. Sure enough, at last check, gold was trading north of $1270, back to levels last seen in November, and one sovereign default away from soaring a few hundred fiat equivalents higher. And since all hopes now rest on more BOJ easing (or else watch out below), and more of the same pent up inflation, we may have seen recent lows in gold for quite some time, especially with Gartman once again openly "hating" gold.


2-day move:

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Xibalba's picture

Where's Deutsche when you need them?? 

Space Animatoltipap's picture

Preparing for monetary war time ...

Headbanger's picture

Preparing for REAL war time!

Because Obama...   Has lost all respect in the world and thus the world is going right back to where it was before WW II.


Sudden Debt's picture

at least some American woman are already back to the stoneage...

scary shit...

BigJim's picture

I like a woman with a big mouth nowhahimsayin?

Headbanger's picture

Damn!  Where can I git a woman like that!?  Can she shoot too!? 

Stuart's picture

Gartman chases....  usually sell into Gartman. 

fonestar's picture

With BTC under $800 you may want to consider selling some Gold 1.0 for BTC and silver.

quasimodo's picture

Great idea! Sell something I can hold in my hand, that will never go to 0, has been around for all ages, and trade it for something I can.....hmm...what was that again?


jomama's picture

less trolling and moar rocket riding.  kthxbai

geminiRX's picture

The internet kill switch doesn't register in your mind does it?

fonestar's picture

Which kill switch would that be?  The one that tears down all BGP routes around the globe whenever NSA wants to flick it?  

Stick to your comic books guys.

Drachma's picture

You have too much faith in BGP routes. IMO they are as vulnerable to the NSA as any existing network connected to the internet.

angel_of_joy's picture

You are a total waste of time.


Silveramada's picture

just the beginning, first stop 1300...(minor resistance at 1275 maybe)

SoilMyselfRotten's picture

Thought for sure they'd use yesterdays big gain as cover for a 'correction' smash......still waiting

GOSPLAN HERO's picture

Ole Yeller is going to print funny money faster than four (foar) motherfuckers.

ParkAveFlasher's picture

Watching the miners today!

Sudden Debt's picture

yep, loaded up on GDX and GDXJ yesterday :)





eclectic syncretist's picture

They will be much higher by the end of the year.  A lot of people who currently view gold as an inflation hedge will, over the course of this next fiat financial crisis, come to realize that physical gold in the hand is the ultimate safe haven asset.

fockewulf190's picture

Expect future raids until the last bar is gone.  Don´t be shell shocked about a rising fiat price, just get your hands on as many ounces of phyzz as you can.  Keep stacking!

greatbeard's picture

Give me a spike to $2K, I've got some land to buy.



Ranger4564's picture

Me too. Except right now, I'm hoping it dips to $1200 / $19 at end of month closing of Comex futures contracts, so I can buy more.

Sudden Debt's picture

10 acres of prime Nevada desert land for 100$!

greatbeard's picture

>> Nevada desert land

I'm kind of partial to places with abundant, quality water.  North Florida kicks ass in most respects.  I need something in West Central Florida.

SilverDOG's picture

Such will be ocean front, shortly.

Go to Miami Beach @ high tide.

I really mean just drive through high tide, cuz you can.

Chief KnocAHoma's picture

How about 99 acres - Worth County GA - pond - timber - 20 acres could be used for a very nice garden - $2,000 per acre.

greatbeard's picture

>> Worth County GA

I like GA and consider it on more than one occaision.  I go there often to buy tractor and such.  Heck, even their income tax does't bother me because I've got no income.  But I need to be close to the Tampa Bay area for medical reason.  And south of the bay is better than north so I don't have to deal with the commute through Tampa.  God, I don't know how anyone can live in that kind of shit hole.  I mean the traffic, not the place or the people.

Proofreder's picture

So, 100 oz Au = your 99 acres; the only question is When ...

Chief KnocAHoma's picture

And I will accept gold, or silver... also trying to pick a good neighbor. 

mt paul's picture

would be enjoyable

to see a 100 $ up day..

quasimodo's picture

Too late! lol

Not like we didn't expect it. With these up days I am always reminded of the anticipation of getting some nookie from the Mrs. Those days, you know, when you just know you are going to get some action. Then, by the time the kids are in bed or the chance to get some's the same old thing. 

Sudden Debt's picture

it's going down again... :(

Sudden Debt's picture

okay it's up again... sorry for that... had a bad sleep last night...

TeamDepends's picture

Prettiest charts of this admittedly young year.  Perhaps we'll hit $1300 today, booyeah!

Mr.Sono's picture

that looks like a gold hard on with possible premature ejaculation to fallow.


we need 800 dollar gold please.

Chump's picture

And of course this gets junked because the stackers want to see a meaningless rise in fiat price, while they're "still stacking"TM.  I know I like paying more for things I want to buy.  When I'm checking out at Wal-Mart I ask them to pad my bill by like...pffffft...10% sometimes.  Makes me feel good, like the stuff I just bought is even more valuable now.

Yes, $800 gold please.  I would finally be able to get a little and give my meager silver savings a friend to play with.

Panafrican Funktron Robot's picture

Yeah, initially I was thinking the USD price of gold would go below $1K before it blew up, but after tracking the redemption requests so far this month (up to 74K oz in new delivery requests, after taking a very strange 14 day hiatus), with only 370K left in the Comex registered to cover, they're going to have to pump the shit out of the price of gold if they want to get the eligible stacks moving to registered.

Then again, most of us here are mighty suspicious of the "physicalness" of that supposed approx 7 mln oz in eligible.  

enloe creek's picture

not short covering? of course it is duh

NOTW777's picture

NUGT nice pre market

No Soup For You's picture

And not one article on Yahoo Finance or about gold, what a surprise

philosophers bone's picture

Yes there was at about 6:00 CNBC or Blumberg satellite radio reporting as a top headline "Gold is falling".  I kept listening.  It was down $2.

Quinvarius's picture
St. Louis Adjusted Monetary Base (BASE)


2014-01-22: 3,819.202 Billions of Dollars

2014-01-08: 3,665.719


The surge is not just for Afghanistan.


philosophers bone's picture

You've highlighted a two week period - so if the Fed is buying at $75 billion a month (starting this month), assuming all purchases are made with newly printed dollars, that would mean there should be a difference of approximately $37.5 billion over that period.  Shit, time for a new calculator - mine seems to be broken.


Panafrican Funktron Robot's picture

Indeed, POMO is the publicized version of the balance sheet expansion.  It's probable there is a lot of backdoor liquidity being made available to certain international banks that are on the verge of a blowout.

Yes, the fecal verbage is intended.

LouisLitt's picture

Is there any way to get a weekly summary of the articles on ZH?