• Gold Money
    05/03/2016 - 11:35
    Crude oil time-spreads have completely dislocated from inventories. Historically, such dislocations have proved to be short lived. We expect that either spot prices will sell-off again or the back...

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.

Intraday:

2-day move:

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Fri, 01/24/2014 - 08:19 | 4362077 Xibalba
Xibalba's picture

Where's Deutsche when you need them?? 

Fri, 01/24/2014 - 08:30 | 4362111 Space Animatoltipap
Space Animatoltipap's picture

Preparing for monetary war time ...

Fri, 01/24/2014 - 08:37 | 4362117 Headbanger
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.

 

Fri, 01/24/2014 - 08:43 | 4362138 Sudden Debt
Sudden Debt's picture

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

http://youtu.be/tuqPL6X-aCc

scary shit...

Fri, 01/24/2014 - 08:47 | 4362152 BigJim
BigJim's picture

I like a woman with a big mouth nowhahimsayin?

Fri, 01/24/2014 - 08:52 | 4362166 Headbanger
Headbanger's picture

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

Fri, 01/24/2014 - 09:15 | 4362209 Stuart
Stuart's picture

Gartman chases....  usually sell into Gartman. 

Fri, 01/24/2014 - 12:07 | 4362798 fonestar
fonestar's picture

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

Fri, 01/24/2014 - 12:19 | 4362861 quasimodo
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?

#FAIL

Fri, 01/24/2014 - 12:34 | 4362952 jomama
jomama's picture

less trolling and moar rocket riding.  kthxbai

Fri, 01/24/2014 - 13:13 | 4363181 geminiRX
geminiRX's picture

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

Fri, 01/24/2014 - 13:23 | 4363215 fonestar
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.

Fri, 01/24/2014 - 16:10 | 4363952 Drachma
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.

Fri, 01/24/2014 - 13:58 | 4363351 angel_of_joy
angel_of_joy's picture

You are a total waste of time.

IGNORE...

Fri, 01/24/2014 - 09:41 | 4362279 Silveramada
Silveramada's picture

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

http://zysites.com/silververitas/

Fri, 01/24/2014 - 08:33 | 4362114 SoilMyselfRotten
SoilMyselfRotten's picture

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

Fri, 01/24/2014 - 08:22 | 4362083 GOSPLAN HERO
GOSPLAN HERO's picture

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

Fri, 01/24/2014 - 08:20 | 4362084 ParkAveFlasher
ParkAveFlasher's picture

Watching the miners today!

Fri, 01/24/2014 - 08:45 | 4362140 Sudden Debt
Sudden Debt's picture

yep, loaded up on GDX and GDXJ yesterday :)

 

I

LOVE

IT!!!!

Fri, 01/24/2014 - 10:08 | 4362376 eclectic syncretist
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.

Fri, 01/24/2014 - 08:24 | 4362089 fockewulf190
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!

Fri, 01/24/2014 - 09:28 | 4362239 Sudden Debt
Sudden Debt's picture

to bad tungsten corp isn't profiting from the rise in gold...

http://finance.yahoo.com/q;_ylt=Ap1ylhttv_Dn1X4mkpeJ_6qiuYdG;_ylu=X3oDMT...

 

Fri, 01/24/2014 - 08:24 | 4362094 greatbeard
greatbeard's picture

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

 

 

Fri, 01/24/2014 - 08:26 | 4362103 therover
therover's picture

I have that same idea !

Fri, 01/24/2014 - 08:34 | 4362118 Ranger4564
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.

Fri, 01/24/2014 - 08:46 | 4362146 Sudden Debt
Sudden Debt's picture

10 acres of prime Nevada desert land for 100$!

Fri, 01/24/2014 - 09:24 | 4362230 greatbeard
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.

Fri, 01/24/2014 - 09:50 | 4362305 SilverDOG
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.

Fri, 01/24/2014 - 10:12 | 4362396 Chief KnocAHoma
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.

Fri, 01/24/2014 - 10:31 | 4362457 greatbeard
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.

Fri, 01/24/2014 - 10:30 | 4362462 Proofreder
Proofreder's picture

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

Fri, 01/24/2014 - 10:35 | 4362480 Chief KnocAHoma
Chief KnocAHoma's picture

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

Fri, 01/24/2014 - 08:25 | 4362095 mt paul
mt paul's picture

would be enjoyable

to see a 100 $ up day..

Fri, 01/24/2014 - 09:12 | 4362204 Sudden Debt
Sudden Debt's picture

don't jinkx it man :)

Fri, 01/24/2014 - 12:22 | 4362876 quasimodo
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 happens.....it's the same old thing. 

Fri, 01/24/2014 - 09:50 | 4362308 Sudden Debt
Sudden Debt's picture

it's going down again... :(

Fri, 01/24/2014 - 09:57 | 4362333 Sudden Debt
Sudden Debt's picture

I KILL YOU!!!!

Fri, 01/24/2014 - 10:07 | 4362368 Sudden Debt
Sudden Debt's picture

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

Fri, 01/24/2014 - 08:24 | 4362097 TeamDepends
TeamDepends's picture

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

Fri, 01/24/2014 - 08:25 | 4362099 Mr.Sono
Mr.Sono's picture

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

 

we need 800 dollar gold please.

Fri, 01/24/2014 - 10:13 | 4362392 Chump
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.

Fri, 01/24/2014 - 13:58 | 4363349 Panafrican Funk...
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.  

Fri, 01/24/2014 - 08:25 | 4362101 enloe creek
enloe creek's picture

not short covering? of course it is duh

Fri, 01/24/2014 - 08:26 | 4362104 NOTW777
NOTW777's picture

NUGT nice pre market

Fri, 01/24/2014 - 08:30 | 4362107 No Soup For You
No Soup For You's picture

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

Fri, 01/24/2014 - 09:45 | 4362276 philosophers bone
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.

Fri, 01/24/2014 - 08:28 | 4362109 Quinvarius
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.

 

Fri, 01/24/2014 - 09:53 | 4362320 philosophers bone
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.

 

Fri, 01/24/2014 - 14:01 | 4363366 Panafrican Funk...
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.

Fri, 01/24/2014 - 08:28 | 4362110 LouisLitt
LouisLitt's picture

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

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