This page has been archived and commenting is disabled.
Gold Breaks Above Key Technical Level For First Time In Over A Year
Spot gold prices are now up over 10% from the 2013 closing lows. At $1,304.75, gold is at 3-month highs and has crossed above the critical 200-day-moving average for the first time in over a year. Other precious metals are on the rise with Palladium up for the 8th day in a row (the longest streak since July), Platinum up 6 days in a row (long since July) and Silver up 10 days in a row breaking $20.50.
Charts: Bloomberg
»
- 16230 reads
- Printer-friendly version
- Send to friend
- advertisements -
Moving right now!
Nice. Silver just took off like a bat out of hell:
Live Silver Chart: http://www.pmbull.com/silver-price/
Buy silver!
$20.60 was a major technical level for Ag and, as of now, it is at $20.83. Off to the races?
SLV down after hours [cough cough].
Blythe is still doing dirty laundry, I guess.
You guys all know the price is fixed right? lol
Don't matter what the numbers say, the only thing that matters is how much you have in your possession. Just saying...
The price doesn't matter....
....until it does.
And it will.
Three years ago, if someone told me silver would be at $21 today, I would think they were a troll.
Three years ago, if someone told me silver would be at $21 today, I would think they were a troll.
I sure got a lot of that one year ago.
Technicals mean nothing. It's gonna go the way BIS et al. decide it should go.... until one day all the phys is either in India, China or lost due to rather unfortunate and inexplicably numerous boating accidents by Zerohedge readership.
All I know is I felt something move and I kinda liked it.
If you're looking at this after 9am gmt, it looks like there may have been a small downturn, then an explosion upwards - perhaps Blythe is now running us up??
Saw that. Nice move. Someday $30 will look cheap.
Stack-on.
>> Someday $30 will look cheap.
Looked cheap to me at $30 awhile back, so I loaded up. $30 looks like a long ways up now.
What is the value of a dollar?
Answer that and then we can talk about the value of silver.
Gold at $2000 is cheap. Silver at $30 is cheap too.
Patience everyone.
+100
Well according to an old, irrelevant document, a dollar must be 1oz of AG.
Good thing we don't listen to laws or dusty old documents though, or our overlords might not bestow upon us the latest iCrap or McPoison to consume.
Hold Fast.
Smackdown in 3...2...1
Silver just went VERTCAL UP . I sure like Silver to win in the 1st.
Don't look now but silver's getting wood.
ought to be. For 1305 gold silver should be 21.5226
That's ln(21.5226) = 1305.38 x 3 / 2635 + 19/12 to the trend, http://flic.kr/p/f17z1s
I am going to really miss getting 60+ ounces of Silver for an ounce of my Gold. It would not hurt my feeling if that continued for as long as I can produce Gold. I tell my Gold mining buddies that one day Silver will be worth as much as Gold and they all look at me like I am crazy. Time will tell.
So is this H2 2012 or Jan 2009?
2009, log-scale compress the dates on the 10 year chart, take a look.
repeat on gold, then exponential on silver for gold. http://flic.kr/p/f5bHkJ
Gold and Silver up?
Deutsche Bank leaving the London gold and silver market fixings sure must have thrown the other fixers into disarray. Or else the phones are down:
London Gold Market Fixing Limited
Directors
Francois Combes - Societe Generale
Matthew Keen - Deutsche Bank
David Rose - HSBC
Martyn Whitehead - Barclays
Simon Weeks - Scotia Mocatta
Alternate Directors
Vincent Domien - Societe Generale (Current chairman of the Gold Fixing)
James Vorley - Deutsche Bank
Steven Lowe - Scotia Mocatta
Peter Drabwell - HSBC
Jonathan Spall - Barclays
London Silver Market Fixing Limited
Directors
Matthew Keen - Deutsche Bank
David Rose - HSBC
Simon Weeks - Scotia Mocatta (Current chairman of the Silver fixing)
Alternate Directors
James Vorley - Deutsche Bank
Peter Drabwell - HSBC
David Wilkinson - Scotia Mocatta
Crash those fuckers!
Buy silver!!
Taking bets on how many days before the next banker 'suicide' is reported, sans details of course...
ok I'm in, but first not sure the last four suiciders didn't have help. Nail gun, a banker ? o come on! Jumped off the roof how did that work " one, two, threeeeee" suicide my ass. 3/1/14 with a candle stick in the study. and no helping them to their reward to improve your score.
Bridges work better and with the Internet, raise the drama level to 11!
Remember, we stackers have been abused for over 2 years.....it's our time to shine.
I hear ya but this has nothing to do with justice.
It has everything to do with truth, and therefore, yes it has plenty to do with justice...
So truth and justice float on a sea of paper? What do you think is driving the price up, physical demand or the buying of long contracts? How committed are longs to taking delivery? Are these strong hands when the herd starts running for the exit? GLD is up 8% YTD and gold is up about the same YTD. The leverage in GLD is 50/1 or 100/1 or some ridiculous number What controls the market do you think?
I was 13 days off, but in the start of the year I called for $1300 by the end of January. The trend will continue. Look for $1450 to be taken out by the solstice.
So where and when's the top?
Jim Rogers says $250, Kreiger does too. Faber says the dollar is worthless and to be your own bank. Celente says the dollar isn't worth the paper it's printed on.
My prediction? The top will come in at $25k for gold and $2k for silver.
This will not happen for about 5 years and could take ten, but that's what I think.
Jim Rogers might turn out right for paper contracts. Otherwise I've heard his opinions on India and he's way off there. He thinks the gov will get their hands on the temple gold. Faber seems more realistic though. Your prediction sounds reasonable considering the extreme market intervention we've had.
Thanks.
Who the fuck is junking me?
This is Fight Club, so go ahead, tell me something I don't know.
Banksters are junkin' ya Soul Glow.
I might add: Buy Palladium!
Dude, when gold is at that level, there will be chaos like you can't imagine. Gold will become a barometer of social instability. they will be highly correlated. Better learn self-defense, electricity, plumbing and perimeter integrity...
just send us an X-class solar flare mr glow and we can stop with the waiting
You know, I think the monied elite have wished that would happen so they could blame the sun instead of watching economics - the science of - crumble in their faces.
What collapsed that we dont know about yet??
I was about to say. Something big is on the horizon for sure and ain't the sun.
Emerging markets are collapsing all over the globe.
The 1st world is being floated on paper, and guess what, paper don't float.
The sudden ramp tonight is not the usual. This sort of ramp usually happens at the NY open, follwed by a fall back slightly above the start. Not typical lately anyway
Why the hell did that get a down vote??
Trolls!
Show yourselves!!
They're skeered.
Keep on preaching Soul Brother
buy metal asia open
sell LON open
easy money..
The Fed.
We'll probably find out about a chinese or german bank first, though.
Uber-bear Jim Willie says it might be Deutsche Bank that goes first among the big Western banks.
Chinese banks? I would not have any idea...
Maybe some towers somewhere?
for those who like paper, thanks to another poster for letting me know USLV does exist & is 3x long. In fact the math says 3.92x.
To the -1-tard: fuckyourself. This bitch is going to 1 MEEELYUN dollerrrrs for a spot price of 252 USD SILVER.
Math: USLV = silver 3.92 / 2591
silver: 20.38 , USLV 52.31
silver: 50.38 , USLV 1,817.12
silver: 80.38 , USLV 11,342.60
silver 150.00 , USLV 130,861.03
silver: 250.00 , USLV 969,298.23
fully eleven people so far have declared they are math-retards and can not understand how to use powers OR how more cash is better than LESS cash.
You people are going to inherit BITCOINS instead of gold from your relatives. Maybe you can buy some socks at overstock.com with 'em.
I'm gonna load up on these leveraged returns & buy food, silver, safe passage to another country & you can all kiss my ass.
" ...has crossed above the critical 200-day-moving average... "
"Crossed", "Critical", "Average"? 20th Century jargon.
Let me know when it "crosses" $2K.
on trend if silver crosses 2k that matches with gold = 5,285.43
Does a 200 day moving average mean anything when fraud rules the "markets"?
it doesn't for equities. It does for gold..
The seasonal trade looms.
Traders are now searching for a place to start shorting.
A nice run is probabbly in the cards short term, but those who lever will get their face ripped off.
I hope I'm wrong
Hope you got Physical!! Hahahahahaha!!!!
Investing in paper silver and gold will work as a trade for a few years still, but yes, at the end of the day, their will be a margin call on physical.
Jan 16 is a large option expiration date. Had to hold off all the people that bought LEAPS long ago. Especially for the options on 2X and 3X vehicles. Now those deals are gone.
We President now
prep the salvage barge
them zero hedgers
gonna be sinking boats
left and right...
The paper price still, and will continue to dictate what we pay for the physical.
That was my basic point.
We'll see 18xx again IMHO
So?
Let the institutions suppress the price. All that means is we get more.
Gold and silver are not going to make any significant gains when price manipulation continues unabated. Look for another haircut in the near future.
Then buy more physical..
The Price of Gold will drop again below the 200mDA. But it will not achieve new relative lows...(It will stay priced at over $1180.)
Then, afterwards, the Price of Gold will soar and the Shorts will get slaughtered.
Think about the chart as an INVERSE Function. That is how you trade if you are taking a Short position in ANYTHING. There will be a Sucker's Bounce for the Shorts. (That means that there will be a dip for the Longs.)
Does TA work in Manipulated Markets? Yes it does.
The REASON that TA works in manipulated Markets is that most traders believe in TA. Thus it is a Self Fullfilling Prophecy caused by Mass Delusional Thinking..
Gold is not the ONLY MANIPULATED MARKET as ALL MARKETS ARE MANAGED AND MANIPULATED.
The reason technical analysis works in all markets is even in manipulated markets it exposes the manner & timing of manipulation.
Now here's the kicler: THIS is technical analysis:
e (gold x 3 / 2635 + 1.547) = silver
silver 3.92 / 2591 = USLV
silver 2 / 6.02 = AGQ
as is this: http://flic.kr/p/f17z1s and this http://flic.kr/p/iwHcZZ and this http://flic.kr/p/f5bHkJ
and most certainly this http://youtu.be/sxbdKOKDaOU
without question these things are NOT TECHNICAL ANALYSIS at all, but are bullshit put to pictures or words explaining NOTHING with NO MATH, NO BACKTESTING, utterly devoid of fact
That's the facts. If you are angered by seeing this, you are a math retard.
FOR EXAMPLE, this is TECHNICAL analysis:
SILVER at 262 spot USD : 262 3.92 / 2591 = 1,164,859.78 $ USD USLV 3x long ETF
thems the facts.
Nobody knows what's going to happen. All we know is dollars suck and stocks/homes are overpriced.
Devo: All I know is the silver I bought 3-4 months ago is now 10% higher based on exchange rates + dealer premiums.
Bull markets are born on pessimism, grown on scepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. - John Templeton
I think we're in the phase right between born on pessimism and growing on scepticism.
$1,310 and $20.86 .....knock-knock-knockin' on hevens door !!
I sure liked that double bottom back in December. It was a no brainer buying opportunity and I miss it. Balloon head Yellen will be forced into QE again and the price of PMs will drop again when she does. I know that seems counter intuitive but that's the correlation since QE3 started.
Tylers please go to Nanex and tell us how many times velocity circuit breakers have tried to stop this incredible rally in PMs.
And Bitcoin getting hammered down to $310 http://bitcoin.clarkmoody.com/widget/chart/
Take that Phonestar
LMAO!
Gold Breaks 1,320: The Mother Of Short Squeeze Has Arrived
Gold is sending its Happy Valentines to all Gold Bugs today and breaks $1320 on the massive short squeeze. Gold shorts will have their Blood Friday now. Our short Squeeze watch includes McEwen Mining and TNR Gold. McEwen Mining had 26.8 million shares sold short or 8.6 days to cover, according to NASDAQ. MUX.to has rocketed from December low of CAD1.80 to CAD3.27 close yesterday. Gold breakout will push shorts into the corner, but explosive move in Silver will have even more effect on this company. TNR Gold is still day dreaming, but move in McEwen Mining should pull out this junior out of its misery. Los Azules Copper development will be next to watch on the back of recent M&A activity in the sector and CRB - commodity index breakout to the upside.http://sufiy.blogspot.co.uk/2014/02/gold-breaks-1320-mother-of-short.htm...
Here we go again, maybe this time around the rally will be sustained! Count on the plunge protection team and the gold and silver market manipulators to try to pour water on the flames!