Gold Soars To Fresh 6-Month High While Risk Off Accelerates

Tyler Durden's picture

Gold was gently levitating once again overnight but in the last few hours both gold and silver have taken off (with the latter breaking through pre-Putin levels) and the former breaking above $1385. Gold is now up 6 weeks in a row - the longest win streak since the run into the Aug 2011 highs. Equity prices are tumbling from solidly green levels overnight - tracking EURJPY all the way lower - and Treasury bonds are well bid (-3bps today) with 10Y yields down 17bps on the week.


Gold and silver well above Putin levels now...


With gold up 6 weeks in a row...


and stocks are sold along with EURJPY...


And Treasury yields are tumbling (as rate-locks are unwound and safe-haven bids resume)


Charts: Bloomberg

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
flacon's picture

A declining stock price is good for the stock market. ... oh, wait!

SoilMyselfRotten's picture

Just heard Yukon Cornelius humming a few bars......

douglas's picture

Big PM up days scare me anyway, but when I know its at least partially related to the tensions in Ukraine, it scares me even more...

Here's a (slightly modified) post of mine from a recent down day in metals...

If at this stage you are not COMPLETELY convinced that PM's are highly manipulated to maintain control of a colapsing fiat monetary system then you probably have no business owning any precious metals besides personal jewelry - I would recommend that at this point you stop reading here, close out Zero Hedge and turn on MSNBC.  

If on the other hand you are awake and can see that not only are we waist-deep in manipulation but ever-nearer to a Global Monetary Colapse, then you should be COMPLETELY convinced that it's only a question of time before TPTB lose the ability to continue said manipulation.  If this is the case you should like me be rooting for the price of PM's to go down so you can acquire more. Rather than complaining about the manipulation, be thankful for it and continue to increase your holdings. After all, the day TPTB finally lose control, the world will become a much sadder place and comforts which we now enjoy will go away for the majority of the people of this world - in fact I suspect there will be significant loss of life...  Widespread wars could affect even those of us that have prepared for the worst.

Heres something to think about (coming from someone who is well over 60%-In PM´s, with physical holdings as large as 99% of any ZH´ers) ... The best part of all this is that even if we´re wrong about the current economic situation (which all evidence proves we are not) your life will be no worse for having a large horde of Gold and Silver, on top of that you'll sleep much better... 

Note:  I hope its my paranoid instinct, but this current move up scares me more than any recent one, I´ve got a bad feeling that this could be ¨THE ONE¨...

SaveTheBales's picture

Everything was going fine -- PMs were in dumpster and headed for a decent price.

Now everything's got a premium from Pluto.  This sucks.  Why can't everyone panic NEXT year?

RaceToTheBottom's picture

".....with physical holdings as large as 99% of any ZH´ers"

I must have missed the registration area of the ZH website.  Where you enter your positions and assets so others can compare and declare pompously "mine is bigger than yours".

Just keep your eyes looking forward in the bathroom when you are in that stall next to me

douglas's picture

My message was not intended to instill competitiveness or JEALOUSY among my fellow ZH´ers.  Perhaps I should have expressed myself differently - all I was saying with that statement was that I do not form part of the ONE Percent.

RaceToTheBottom's picture

deleted................ Nevermind.

MeelionDollerBogus's picture

Looks like it to me. Next peak at 3500, next drop to 2500 or no drop at all because of currency collapse.
Then no paper price will even exist.

Download the data for gold spot prices for 10 years. Plot the date in log-scale. And the price. Now overlap the 2008 drop to the 2011 drop. Once you have a match you can take the new projected price+date combinations and map them back to actual dates and actual prices.

This may be a pain having to convert dates into numbers, use log( ) on them & then use exp ( ) on them again after but it should be incredibly revealing. The only bad part is with the time axis distorted like that it could be 24 months, not 12, to get to the 3500 mark. Oh well, time is time, it's coming regardless.

knukles's picture

maniacal laughter

God this has been a long time a comin'
18 months of pure Hell, but vindication at last.
Bonds and gold as the world sinks under its very own weight of Propaganda, misdirection, incompetence and criminality come home to roost.

What we got here is a world of murder and debauchery masquerading as a New Golden Age

This will  not end well, a la Japan in a Liquidity Trap for 30 years.
Getchur income while it's there and barbell it with PM's, my friends.

...scratching nuts, sipping tea and wondering why there are so few of us seeing this unfolding... 

As Lanza stated so eloquently; "Our narratives are constructed from random events, baseless assumptions, and simpleminded prejudices and biases"

... Mr Ego, I'll take the Testicular Cancer meetings, you can have...

ArrestBobRubin's picture

This is nice but I'll feel even better if we don't see a smackdown at 10 EDT. After that, let's see if follow through is allowed or the usual 2%, 1%, even , hard down pattern follows next week.  

J S Bach's picture

Moving in the right direction.  But, is up .70% really "soaring"?  Lay off the ultra-embellished adjectives.  It bastardizes the language.  Words mean things.  I see this all the time on the internet.  If gold goes up 100 in a day, THEN say that it's "soaring".  When it goes up 10, say it "rose".

BandGap's picture

Glad you can set the standard for all of us. Asshole.

Now fuck off while this runs up.

ArrestBobRubin's picture

Hope you enjoyed that little ride while it lasted Mr. Personality.

BigJim's picture

What I'd like to see explored a little more is why the the dollar is so weak, given all the geopolitical tensions. What happened to the whole 'flight to quality' nonsense?

MeelionDollerBogus's picture

but gold could rise 5 THOUSAND pennies!!! moar SOARING

SWRichmond's picture

let's see if follow through is allowed or the usual 2%, 1%, even , hard down pattern follows next week. 

Yep, looking at another 1% "limit up" day.

XAU XAG's picture

Would take a 1% limit up day every day of the year..........


We could do with at least 30 days up with no downs or evennd out to + 30 LOL

ArrestBobRubin's picture

Sounds like we're both LeMet subscribers...

ArrestBobRubin's picture

So I was one hour off, the algos kicked in at 11 instead of 10. Result is the same: the move was squelched again. 


Wen_Dat's picture

Silver was above 22 a few weeks ago...

fonzannoon's picture

Yes it was. As nice as it i watching gold right now, until I see silver break towards $25 I remain skeptical of this whole thing. 

NoDebt's picture

Silver's going to $100/oz.  The guy on the radio selling silver said so.  Apparently all the world's silver has already been used up in solar panels and iPods and stuff and they can't mine it out of the ground fast enough to keep up with demand.

knukles's picture

If he believed what he said he'd be buying silver, not selling it.

eclectic syncretist's picture

Amazingly, JPMs silver inventory at the Comex is way up over this time last year.  In fact, it may double soon.  At the same time they are still selling gold to the point of near default.  It's easy to see that the gold is getting drained off to China, but why they are buying so much silver is another question.

Jack Napier's picture

Ah, a thread bit with some sound thinking. Metals are hardly soaring. ZH is great and all, but they have no problem sensationalizing either.

Silver will certainly be the first metal to enter a shortage, but gold will be the first metal to disappear from the exchanges. Once the transition to the East is complete there will be plenty of gold availablae - at a much higher price, temporarily that is, until the price becomes simply an ounce of gold as all other assets become priced in gold once again.

Only then will we see silver prices skyrocket and the true physical shortage come into play as the debt circus tent implodes.

$100/oz silver will never happen in today's dollars. The price mechanism will change before that happens.

fonzannoon's picture

operators are standing by

NoDebt's picture

At least SOMEBODY gets my sense of humor.  Tough crowd this morning.

ParkAveFlasher's picture

The move in silver begs the questions: who, industrially, needs cheap silver to survive, which players in which industries, and who would receive financing, perhaps in the form of access to cheap credit or in the form of inflated stock price or direct bailout, to weather an uncontrolled silver price, and are there indicators of that happening already.

cro_maat's picture

Isn't the military the biggest industrial consumer of silver? Seems as though there are many militaries ramping up across the globle.

Agstacker's picture

I'll take silver over empty fiat paper ANY day of the week.

constantine's picture

True, but we do appear to have a trend of higher highs and higher lows on the short term charts... granted the long term charts are still questionnable to say the least.  At some point, the fact that the people are actually buying a lot of the real stuff has to make a difference... It's a lot easier for the central planners to manipulate stuff up (stock market) than it is to manipulate stuff down (precious metals).

29.5 hours's picture



OT: I'm getting worried about the future and need to put something into a safe haven. Where can a U.S. resident buy Portuguese gov't bonds? TIA...




SilverIsMoney's picture

We could close over 1400 today.

greatbeard's picture

If this general market direction continues for another two years the bugs will be even with the stock folks.  Rat bastards stole two years of my life.



superflex's picture

You're quick to lay blame on others when the mirror has your answer.

The rat bastards held a gun to your head and said BTFATH!

thismarketisrigged's picture

of course all markets are well of there lows and creeping towards green.


the  DAX was down 100 points now its onl down 40.


u.s futures which were down modestly are now flat.


what a fucking farce.

Xibalba's picture

intervention time

Greshams Law's picture

Just had the wife check the safe. My gold hasn't moved at all.

Dr. Engali's picture

Quite frankly any upward movement in price ticks me off as I would like to purchase moar at lower levels and hold on until the whole damn system vaporizes.

cro_maat's picture

I'm with you on that. With the sheer entropy in the whole corrupt system I don't feel I can adequately prepare for the toxic mess that has been slowly oozing out and now is accelerating into a mudslide. I will keep stacking as long as they will take my worthless fiat $.

joego1's picture

Exactly, I take the long view as well. This is my retirement fund I'm building and I need about 5 more years to get it right. I would much rather tell my kids about the canoe accident rather  than actually have to use it if you catch my drift.

LongBalls's picture


TheGoldMyth's picture

Yep LongBalls, solar panels harvest gold directly from the sun.

cro_maat's picture

Hammer up at the open - Whale is long

Hammer down - Whale is short

Same as it ever was. Must keep the unbroken winning streak alive! Just when I get a nice commission check and can add to my stack they make more expensive. Fuck you Jamie Diamond!

I think they are just positioning themselves for the next Russia / Ukraine / China / Iran / etc. / etc. escalation. Keep stacking!