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Gold Surges To 6-Month Highs
Angst in Asia overnight sparked another round of demand for the precious metal pushing gold up over $10 as copper crumbles and Chinese corporate bond markets drop. At $1,363.97, gold is at its highest since September and breaking above its 1-year moving-average.
Intraday gold surged in Asian trading and is now well above the pre-Putin levels...
Gold breaks above its 1-year average...
Charts: Bloomberg
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Guaranteed at least a $7 drop in the next 15 mins.
What are we betting here again?
Lets put it this way, if it does not drop and we lose the ZH immediate mush effect, start packing up your car. At $1,450 wave to your neighbors and head to your bug out location.
I'm already at my bug out location.....I live in flyover country.
He's tellin ya he's short gold, or about to lose his shorts to the gold trade.
You doing that Fonz?
I am not short gold.
Glad to hear.....I was sweating bullets for you there for a second.
thanks, hold onto those bullets
Keep it dry
are those bullets a figure of speak or the real thing? cause you may need more than words...
ask o if you don't believe me.
Bitcoin takes the geo-political hotcakes in stride with a cool $627.
https://btc-e.com/
Yet another blunder by the US, pissing in Putin's back yard. This is accelerating the loss of confidence in all things Merkan. PM prices are starting to reflect this and the daily monkey hammer out of the EU isn't going to stop it. The next few months are going to be quite interesting.
I found this interesting: Another look at the GOFO, and why the caca may soon strike the helice.
http://againwithyourviews.blogspot.ch/
7:30am EDT - Here we are, one day later and the daily monkey hammer out of London is showing it's nasty face again. I would like to play Maxwell's Silver Hammer on these douche bags.
Same here, this is bug in country, everyone around here has a gun.
What's this shit I hear about gold? Up you say?
>> wave to your neighbors and head to your bug out location
I don't have any neighbors and I live in my bugout location. WFT now?
Head back to the nearest city. Drive around and wave to some people and then head back to your bugout location.
Open a can of beans while you gaze at your stack of coinage? My neighbors can all rot in hell and I will shoot most of those mother fuckers when given the chance if the SHTF and they want my assistance.
right on bro, yea, a bunch of deaf ear fuckers that are part of the problem. amman!
No matter how ignorant or misguided your neighbors are, they are, in fact your neighbors. A good prepper plans for his neighbors, too. If you isolate yourself when crisis hits, you'll be the first person they turn on or turn in. Better to build ties ahead of time or have compassion after the fact. A strong community can better resist tyranny/outlaws.
i pick and chose wisely. basically trust no one including you...
Agree. My neighbors cannot afford to plan for the worst. but I will still need them, if I need them. No man is an island and all that...
If they are not you allies, They will be your undoing.
Oh dear. The rabble are restless.
Whenever I see the PMs up substantially overnight, the first thing I wonder:
"Have the psycho azzhats started WW 3 ?"
Economic WWIII has been going on for some time. The "duck and cover" doesn't come for a while though.
Buffet’s government lobbying is up big too:
http://www.powerlineblog.com/archives/2014/03/buffett-hedging-his-hedging.php#!
Iss demuckracy in action! Gummint can't read yer minds. You gotta tell zem wot you want.
Courtesy of Mad Magazine, approx 30 years ago:
Taffy was a businessman
Taffy was connected
Taffy spent 500 grand to get his man elected
Taffy's now ambassador and struts around in pride
Why don't you spend 500 grand and get your man inside?
Or why don't you spend 10 mill to tell them what you want?
According to my back of the napkin math if gold hits $1,650 there is a 15% chance silver can crack $21.50.
I hate you silver! Hate you!
Heh heh.....naybe you should collect Beanie Babies instead. It's a lot less stress!
I lost a shitload of money on beanie babies.
It takes a hell of a big man to admit that.....kudos.
I sold princess and peace for over $100. That's one of the few things I have made money on. Fonz you crack me up on your silver call too and are probably spot on. LOL to you! The GSR would only be 76.
My grandma was thoroughly convinced that she was going to pay for all her grandkids college with beanie babies haha. Well those and jewlery from QVC.
You haven't lost anything until you've sold.
I lost mine in a boating accident -- man do they get soggy.
Hell I'm still buying at $22, beats the hell out of a savings account at a bank.
fonzannoon: "According to my back of the napkin math if gold hits $1,650 there is a 15% chance silver can crack $21.50."
And according to my rough computer simulations, if gold hits $1650 today, there is a 90% chance that I can expect incoming nukes within 11 minutes.
There is some serious capping on silver at the moment.
so basically at some point soon either silver is going to violently snap higher or gold will breakdown pretty big. Is that correct?
No idea, but I feel silver is ready to violently snap to the upside.
No, for every 50 cent rise in the price of silver, I send a hundred pound bar of it to Vegas to keep the price down, It's quite the adventure, but the pawns do all the heavy lifting so I can relax more.
Seems to me that the relative outperformance of Gold vs Silver recently may not be entirely unrelated to the fact that JPM is long the former and short the latter.
My suspicion is that they have reached their target in terms of accumulating cheap gold but are still suppressing silver with a view to further physical accumulation at favourable prices. I think it's not impossible that Gold would have performed even better over the past few months were it not for the fact that it needs to be kept somewhat in check to help manage the Silver price.
When JPM is long both Gold and Silver then I think the fun will start.
Sounds reasonable. I think JPM might be there soon. They didn't let much escape from SLV (if it's there).
Besides manipulation silver is to a large part an industrial metal like falling copper? Just an idea. I don't like it cause I own it too.
value to weight it is just to damn heavy...
It may not be at the moment, but at the historical gold/silver ratio of roughly 16:1, silver would be $85. Getting it for < $25 seems like a good value to me even with the extra weight.
Add the industrial uses of silver, less likelyhood of confiscation, and supply/demand and Ag looks even better.
hammering due to ZH article, in 3..2..1..
They can whack it all they want....it ain't working for more than 24 hours.
What they need to do is make up an excuse to provoke a revolution in Turkey....and Italy....and Russia.....and China. After all, that's where they can get hold of the shiny stuff.....for free!!
9:30 EST and it's still going up! Now $1366. Maybe they're losing control?
When will the Asians figure out how to trade after hours?
I was really hoping that ZH wouldn't point this out, as this usually leads to at least a 10 dollar hammering.
You know the drill.....Past performance is not indicative of future results
Past performance is not indicative of future results.
That used to be true, back before the dollar was devalued and Gold became a manipulated market.
Place your trades for 10:00 A.M. and watch the hammer fall.
Gold cannot be allowed to rise to it's true value to the dollar
The Emperor cannot be seen to be naked.
Look, it's all good. Rejoice.
http://www.marketwatch.com/story/sp-500-will-rise-to-2100-by-september-2...
Copper is falling. So will the markets. No hope. Lots of change. It is what it is.
Good.....I hate copper....almost as much as Fonz hates silver.
Here is the thing though....we all agreed on the way down that the gold market is rigged. So we can't delude ourselves into thinking it's a real market now right?
More rigged than Libor, ask BaFin.
You will know it is becoming a 'real market' when you have several 50-100 dollar days in gold, and 2 to 3 a day in silver, until they reach around twice the levels they are now, probably even more with silver. My two cents anyway.
Hello silver, is that you poking your head out of the covers?
Are the Saudis about to break the petro complex? Was the Qatar ambassador recall a warning shot after last year's "leadership" transition in in the land of Centcom. Yesterday the Saudis convicted a Twitter wannabe Springer for inciting inside the Kingdom. Another message to the Spring backers. A deadline for Syrian Jihadis to return home? US-Saudi split on Egypt still a festering wound? King dying? Bandar MIA? Bandar sold his Aspen estate to none other than Paulson? That mysterious Saudi threat against Russia a frame job?
Something stinks in the Kingdom? Brennan was after all Station Chief in KSA...
http://en.wikipedia.org/wiki/John_O._Brennan
IEA report whoring the US shale complex 3...2...1....
IMF report wanring about KSA deficits 3...2..1..
Saudi Arabia would instead be in the red as of 2018, according to IMF calculations.
From 2012
Saudi Arabia rejects IMF's 'doomsday scenario' for Kingdom's economyNothing but a dead cat bounce here for gold. Sell gold and put the money into stocks! High beta preferred.
Wake me up when Bieber is buying.
Bieber is way too stupid to buy any gold or silver. He'll be crying the blues when he's dirt poor when his dollars are worthless. He won't get to be such a smug SOB in the courtroom anymore then either. He's symbolic of our society going to shit.
What the heck is going on with silver?? Is it run out of steroids??
naked paper roids
Junior Miners: Gold Breaks $1,360 As US Dollar Slides Further Down
Gold breaks $1,360 today with US Dollar sliding down to 79.63. China's worries and Ukraine situation are putting futures under pressure. Could it be that the Copper slump is the counter strike at Chinese shadow financial system in the ongoing Financial War? We will never get the clear answers here, but US Dollar is sliding further today and Copper at this levels can not indicate the healthy growing economy. Gold is climbing the "Wall Of Worry" in its new Bull market and we have a lot of calls that this rally will be short lived. Shorts will be surprise and will have to cover again providing more fuel to this move. Now the second wave of advance in Gold Junior miners should confirm this rally. Major companies are solidly off the lows from December, but smaller companies were still lacking the bids behind. With rising Gold price the best project held by juniors will come on the investor's radar screens. http://sufiy.blogspot.co.uk/2014/03/junior-miners-gold-breaks-1360-as-us...
Oh there you are Sufiy! I was getting worried. Whew!
what are "bids behind?" A gay auction?
Where is Al Huxley?
Markets bust, banks bust. Where to hide. Supply of physical FRNs will last about 30 seconds. Out of market into busted bank credit, no that does'nt seem safe. Treasuries into what, bank credit?
Hmmm. What to do. What to do.
Myself, I prefer the 55 1/2 day exponential weighted harmonic arithmetic median moving average. Extensive back- testing showed that it predicts the trend change with 42.33% accuracy. Add my proprietary oscillator coupled to the dumb money indicator and this rises to 43.64%.
I've only been able to make that indicator work wirth banana futures, myself.
what about 2 point trendlines and false breakout strategies?
if your upper trendline canal gets penetrated then all bets are off...
all we are left with is copper coins then..
That's what she said.
Sorry, I really couldn't pass that up.
If you can't dazzle them with brilliance...
Baffle them with bullshit.
Well done, You could have a bright future with the BLS.
;)
and with ZH...
I know nothing but if I was a Chinese I think I would be buying gold right now and not another condo....
I know nothing but if I was a Chinese I think I would be buying gold right now and not another (INSERT ANYTHING)....
I am now investing in 22LR ammo. More rare than gold or silver.
That's the damn truth. Could've made a fortune with some pre-panic hoarding of 22LR.
At least you can still find gold or silver to buy! Try and find and buy 22LR. Good luck. I swear preppers are hording it as currency.
Wanna buy a 50 pak of stingers or velocitors?
How much gold you gotz?
"At least you can still find gold or silver to buy! Try and find and buy 22LR."
Maybe this will be a new business angle for Hans Tulving Jr.?
There go the gold. Here come the bombs.
Help fund the revolution. Buy Gold.
There goes usd/jpy into the crapper. I knew it was just a matter of time with yields tightening back in.
We are getting our last push up as forecast.
http://bullandbearmash.com/chart/spot-gold-daily-continues-sideways-push...
Could get above 1400 before we turn back down - should take us down near $1000
I've been on a silver / gold buying frenzy. 100% of my IRA in physical, 15% of every paycheck & bonus. Wife and friends call me crazy. So be it. Rigged or not, the most powerful weapon in the world is the truth. It ALWAYS emerges eventually. I'll wait as long as it takes
queue the smackdown
Article on Forbes http://www.forbes.com.mx/sites/economia-de-sillas-musicales/
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