Silver Has Longest Winning Streak Since 1968: Spikes To 3-Month High

Tyler Durden's picture




 

Silver and gold were slammed early in the European day but have now recovered those modest losses to extend their winning streak. Gold is holding above $1,320 but Silver is outperforming +1.4% today and is now up 13 days in a row... this is the longest winning streak since at least 1968. Both gold and silver have broken through their 200-day moving averages (and the often-watched 150-day).

 

 

Charts: Bloomberg

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Tue, 02/18/2014 - 12:05 | 4448203 skwid vacuous
skwid vacuous's picture

Long Dong Silver, bitchez!

Tue, 02/18/2014 - 12:11 | 4448238 fonestar
fonestar's picture

It's fake paper silver.  Meaningless.

Tue, 02/18/2014 - 12:17 | 4448260 DoChenRollingBearing
DoChenRollingBearing's picture

Gold & silver are both good here (as is BTC, IMO, to be fair).

Let's break it down:

Gold: Best wealth preserver in town.  Insurance.  Quantum jump coming.

Silver: Even more volatile (paper price) than gold.  Great speculation.

BTC: Even more volatile!  May win big.  Maybe not.  For the risk tolerant only.

Fishez!

Tue, 02/18/2014 - 12:21 | 4448280 fonestar
fonestar's picture

Whether they get behind BTC or not is not what fonestar is talking about.  He is talking about ZH'ers legitimizing their (supposed) enemies position by continuing to refer to these markets as "gold" and "silver", when clearly they are not.

Tue, 02/18/2014 - 12:23 | 4448290 kliguy38
kliguy38's picture

when I drop my silver bar on my foot it tells me its "silver".....BTC will be detroyed with the swipe of a banker's keystroke

Tue, 02/18/2014 - 12:26 | 4448307 manofthenorth
manofthenorth's picture

More or less meaningless than Bitcoins on MtGox ????????

Tue, 02/18/2014 - 12:40 | 4448392 fonestar
fonestar's picture

MtGox is dead.  Nobody in the Bitcoin community cares, so why would you care?

Tue, 02/18/2014 - 13:29 | 4448647 Herd Redirectio...
Herd Redirection Committee's picture

Got a lot of downvotes the other day for mentioning a profitable position I had taken in AGQ, small-cap primary silver miner.  Maybe people thought I was pumping and dumping?  Either way, its now had a 104% run in the last month.  THAT, I did not predict.    If there's a pullback to below $.70, buy.  Below $.55?  Buy with both hands. 

Tue, 02/18/2014 - 14:59 | 4449088 tradebot
tradebot's picture

Fonestar...you need tio contact BTC and remind them they need to hitch their wagon to gold...else someday might go poof.  Like pie in the sky.

Tue, 02/18/2014 - 12:27 | 4448312 fonestar
fonestar's picture

And what does that have to do with the above post?  Why are you continuing to refer to these markets as gold and silver?

Tue, 02/18/2014 - 13:10 | 4448561 kliguy38
kliguy38's picture

they ARE NOT markets....agree...all rigged OF COURSE......why buy BTC when its just another scam to suck you into their clutches...YOU DONT GET IT .....THEY own it......its a black hole for your money......that's all BTC is....its NOT money.....its a JOKE

Tue, 02/18/2014 - 13:18 | 4448587 fonestar
fonestar's picture

No, "they" definitely do not own it.  That much is apparent to people who are involved in the Bitcoin community.

Tue, 02/18/2014 - 15:12 | 4449143 balanced
balanced's picture

Dude, forget it. They will never understand. In 5 years, when the majority of all transactions are made using cryptocurrencies, they will still think it's a scam. What you are doing is like trying to explain the value of gold to an MSM watching sheep -- it's a lost cause.

PMs for storing wealth. Cryptocurrencies for transactions.

Wed, 02/19/2014 - 13:38 | 4453159 OceanX
OceanX's picture

Exactly!

Wed, 02/19/2014 - 13:35 | 4453154 OceanX
OceanX's picture

Do you even know what peer to peer networking is?

Tue, 02/18/2014 - 12:32 | 4448341 DoChenRollingBearing
DoChenRollingBearing's picture

fonestar

That is a good insight. The PM markets are really only markets betting on price movements only.  The only PM markets that matter are those who buy and sell physical only.  I do not understand the four reds on your uncontroversial comment here.  

Actually I think that many here at ZH do understand that the "paper gold" and "paper silver" markets ARE different than the buying and selling fo the metals themselves.

Tue, 02/18/2014 - 12:36 | 4448371 Dr. Richard Head
Dr. Richard Head's picture

I agree.  Local coin shop will buy silver for one dollar UNDER spot, but sell it at four dollars OVER spot. 

Tue, 02/18/2014 - 12:38 | 4448377 fonestar
fonestar's picture

...but even in these cases the primary price is set by the cartel and then the dealers attempt to work with that.

Tue, 02/18/2014 - 12:46 | 4448426 Dr. Richard Head
Dr. Richard Head's picture

'Tis true.  That is why I continue to just be the Drunk Little Irish Boy - https://itunes.apple.com/us/album/drunk-little-irish-boy-single/id811586176

Tue, 02/18/2014 - 14:00 | 4448641 superflex
superflex's picture

.

Tue, 02/18/2014 - 13:35 | 4448541 RaceToTheBottom
RaceToTheBottom's picture

That is the problem with paper prices.

The paper prices as you call them, are influencing the physical prices, if only through not having a physical price of their own.

That was why I was interested in what I had heard about the Singapore exchange.

Also all papers are not created equal.

Some papers like CEF have audited amounts (in that case held in Canada).  I don't think GLD is the same way.  

There needs to be some separation in the spectrum of paper to physical. 

Tue, 02/18/2014 - 13:31 | 4448661 constantine
constantine's picture

Seems to me that if you believe that, at some point in the visible future, the paper prices of gold and silver will no longer dictate trading, you would rather be an owner of silver.  The supply and demand fundamentals are much better world-wide though the COMEX failure looks to be closer for gold than silver.  

Tue, 02/18/2014 - 12:28 | 4448315 Dr. Engali
Dr. Engali's picture

I don't know why you are getting junked. You are right. With unlimited fiat they can manipulate the price in any manner they want. The only real meaning is that it just got a little more expensive to add to the insurance policy.

Tue, 02/18/2014 - 12:35 | 4448363 AGAU
AGAU's picture

He gets junked automatically by people who presume his comment is bitcoin related.

Tue, 02/18/2014 - 12:39 | 4448384 fonestar
fonestar's picture

fonestar's comments are not Bitcoin related.  If you're not going to understand Bitcoin at least understand silver.

Tue, 02/18/2014 - 12:46 | 4448432 Alpo for Granny
Alpo for Granny's picture

Fonestar talks like Jimmy.

http://www.youtube.com/watch?v=Apa0nG1OfUc

 

Tue, 02/18/2014 - 13:05 | 4448532 Spastica Rex
Spastica Rex's picture

I don't have a horse in this race, but your points about paper are accurate.

ZH too often degenerates into dogma fights.

Tue, 02/18/2014 - 13:06 | 4448539 eclectic syncretist
eclectic syncretist's picture

You ignore the fact that there are practical limits beyond which the illusion of fiat value would be shattered.

Tue, 02/18/2014 - 12:44 | 4448411 SAT 800
SAT 800's picture

You're pretty funny sometimes. Look up bullionvault.com and monitor the trading in tonnes of Silver bullion over the last 24 hours. If the world was as simple as you think it is, people with an IQ of 90 would actually understand it, but they don't.

Tue, 02/18/2014 - 12:46 | 4448425 fonestar
fonestar's picture

And they get those prices from where?

Tue, 02/18/2014 - 13:45 | 4448719 Citxmech
Citxmech's picture

If you're buying, who cares if the price is manipulated downward?  Buy physical for the price of suppressed paper.

The bet is that long-term the paper suppresson schemes will be untenable.

Tue, 02/18/2014 - 13:55 | 4448777 fonestar
fonestar's picture

Sure, not saying don't buy.  Just saying don't get too excited.

Wed, 02/19/2014 - 13:48 | 4453226 OceanX
OceanX's picture

 http://en.wikipedia.org/wiki/Bland%E2%80%93Allison_Act

 

So, what is your definition of long term?

Tue, 02/18/2014 - 13:11 | 4448568 Crash Overide
Crash Overide's picture

"It's fake paper silver.  Meaningless."

For now you need a fake paper price to know how many fake papers to trade in for the real metal.

Tue, 02/18/2014 - 12:06 | 4448208 LawsofPhysics
LawsofPhysics's picture

Keep printing idiots!!!  Keep printing!!!

Tue, 02/18/2014 - 12:26 | 4448306 XAU XAG
XAU XAG's picture

This is either a sucker raleigh

or

The start of a new bull

 

it's still 50/50 at this stage

Tue, 02/18/2014 - 12:42 | 4448399 fonestar
fonestar's picture

Is that like a Sir Walter Raleigh?

Tue, 02/18/2014 - 12:10 | 4448231 Sudden Debt
Sudden Debt's picture

you think they will sell it on Ebay?

Tue, 02/18/2014 - 12:17 | 4448261 One And Only
One And Only's picture

I dunno but the protests in Ukraine are not like the ones in Greece

Tue, 02/18/2014 - 12:19 | 4448272 DoChenRollingBearing
DoChenRollingBearing's picture

How about selling Putin and Obama on eBay?  Special deal!  The two of them for the price of one!

Tue, 02/18/2014 - 13:38 | 4448698 tocointhephrase
tocointhephrase's picture

You can keep it!

Tue, 02/18/2014 - 12:09 | 4448222 Dr. Engali
Dr. Engali's picture

Somebody needs to tell Blythe to get to work.

Tue, 02/18/2014 - 12:57 | 4448489 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Todays Globe And Mail headline:

 

"How Far Will Gold Prices Fall?"

 

True story.

Tue, 02/18/2014 - 12:09 | 4448225 Sudden Debt
Sudden Debt's picture

this is not the anomaly your are looking for...

Tue, 02/18/2014 - 12:11 | 4448237 greatbeard
greatbeard's picture

My kitco page is showing gold and silver down on the day.  Silver not by much, but still down.

Tue, 02/18/2014 - 12:29 | 4448322 fonestar
fonestar's picture

Please tell fonestar which site on the internet lists the non-cartel price for silver?  Looked for six years, never found one.

Tue, 02/18/2014 - 12:36 | 4448365 frankthomaswhite59
frankthomaswhite59's picture

.

Tue, 02/18/2014 - 13:36 | 4448687 superflex
superflex's picture

You need glasses greatbeard.

 

Tue, 02/18/2014 - 12:11 | 4448240 Winston Churchill
Winston Churchill's picture

Was watching the short attack on PM's overnight.
They knocked $17 off an oz of gold.
Somebody vacuumed up the bargains.
The paper game is nearly over.

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