• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

Gold Surges: Putin Retaliation Fears?

Tyler Durden's picture


It's that time of day again... when the precious metal mice will play as the broad market cat is still away but this time it's different. Instead of the smack-down that we have seen around the 8amET time each of the last 10 days, today gold and silver are spiking. It is unclear what the catalyst is - just as it is never clear what the catalyst for the monkey-hammerings are - but the timing with Putin's retaliation threats (specifically against a major bank with a mysteriously active gold vault) suggest some causation.



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Wed, 04/02/2014 - 08:16 | 4616627 Truther
Truther's picture

I don't want to be the Dimon in the mine now.

Wed, 04/02/2014 - 08:50 | 4616710 SoilMyselfRotten
SoilMyselfRotten's picture

A Dimon in the rough?

Wed, 04/02/2014 - 09:49 | 4617025 Doubleguns
Wed, 04/02/2014 - 08:16 | 4616636 unrulian
unrulian's picture

More Vladimirmongering

Wed, 04/02/2014 - 08:28 | 4616685 knukles
knukles's picture

First Rule of Global Geopolitical Fight Club: Don't piss off Vlad the Bad.
He kills people for less than that ... just ask Pussy Riot.  Our guys fly all over the world for selfies at funerals.

Wed, 04/02/2014 - 09:01 | 4616815 Urban Redneck
Urban Redneck's picture

Yeah, but Vlad understands the basic notion of BUY LOW... if he wanted to fuck with the commodities markets he would fuck with gas/oil and SELL HIGH... 

Wed, 04/02/2014 - 08:52 | 4616785 CHX
CHX's picture

Rather Obamongering, IMHO.

Wed, 04/02/2014 - 08:17 | 4616637 put_peter
put_peter's picture


Wed, 04/02/2014 - 08:19 | 4616644 bobnoxy
bobnoxy's picture

Looks simple. Too many traders got short and were easy pickings for someone big enough to move things wherever they want them to go. Once those stops are all taken out, down they'll go again.

Wed, 04/02/2014 - 08:21 | 4616651 put_peter
put_peter's picture

Yes. But like ZH says is it difficult to pick a reason and direction. If theres any.

Wed, 04/02/2014 - 08:29 | 4616689 fonzannoon
fonzannoon's picture

It's easy to pick the direction, it's the reason is difficult.

Wed, 04/02/2014 - 08:32 | 4616701 knukles
knukles's picture

Last few years I can't get either right.
I've devolved to the accuracy of Government Statistics

Wed, 04/02/2014 - 10:01 | 4617084 Secede Or Die
Secede Or Die's picture

Double YAWN.....I''m long on PM's and I KNOW how it will all pan out someday. Yes, pun intended.

Wed, 04/02/2014 - 08:17 | 4616639 NOTW777
NOTW777's picture

value - its been on sale

Wed, 04/02/2014 - 09:16 | 4616884 Murf_DaSurf
Murf_DaSurf's picture




Paper Fight!..Paper Fight!...Paper Fight!!  10-1 on Vlad !

Wed, 04/02/2014 - 08:21 | 4616653 Counterfiat
Counterfiat's picture

Don't go chasin waterfalls, when crimea river is yellin at your door.

Wed, 04/02/2014 - 08:25 | 4616668 jmcadg
jmcadg's picture

Let's see a spike to 1400 and 23, then it might become interesting.

Wed, 04/02/2014 - 08:31 | 4616695 knukles
knukles's picture

That's like asking for Sherman McCoy's crumbs.  Get greedy, aggressive, narcissistic, tough and self-centered.  We want MOAR, dammit, MOAR

Wed, 04/02/2014 - 09:24 | 4616919 Murf_DaSurf
Murf_DaSurf's picture



"Sherman McCoy's crumbs. "


Hey knucks, remember at the time, *the gasps* that were heard as that Book was such a revelation on just how things worked?


I confess, it was the beginning of my loss of innocence...LOL!


Wed, 04/02/2014 - 08:32 | 4616698 LawsofPhysics
LawsofPhysics's picture

Let me be clear;  nothing changes until everyone with a paper claim demands physical.

Wed, 04/02/2014 - 08:50 | 4616771 CHX
CHX's picture

"Let me be clear;  nothing changes until ~ 5-10 % with a paper claim demand physical". Fixed it (+1).

Wed, 04/02/2014 - 09:09 | 4616846 LawsofPhysics
LawsofPhysics's picture


Wed, 04/02/2014 - 09:40 | 4616870 CHX
CHX's picture

Realist, when ~99% of all traded PMs are paper. 5-10% claim phyzz, the CONEX is soooo bust. 

Wed, 04/02/2014 - 10:53 | 4617288 Bernoulli
Bernoulli's picture

Totally agree. I'm looking forward to find out the real value of pysical gold (maybe the formula is sth like: the total value of all oil, gas, coal, farmland, real estate, cars, etc. in the world equals the total value of all gold, silver, platinum, copper etc. in the world?)

Wed, 04/02/2014 - 09:00 | 4616759 Quinvarius
Quinvarius's picture

India Central Bank Chief Rajan: Slowly and steadily have to remove curbs on gold imports.

I think that is your "oh shit" moment at 8am.

Guess who is not going to sell any gold to Goldman at bargin prices now?  Everyone.  Your move squid.

Wed, 04/02/2014 - 08:51 | 4616781 Save_America1st
Save_America1st's picture

and at the same time the dollar spiked and then dropped a little right along with gold and silver "paper" prices.  Obviously, that's unusual since they should move opposite of each other.  Since we know the paper game is all manipulated, I'll just say this had nothing to do with anything else other than the monkeys allowed paper PM's to rise a smidge for no other reason than to fuck with people....as usual. 

Wed, 04/02/2014 - 09:18 | 4616892 rqb1
rqb1's picture

Yes but, the trend is to smash it at the end of the month around options exp.
we might have a few good weeks ahead of us.

Wed, 04/02/2014 - 08:56 | 4616787 francis.sawyer001
francis.sawyer001's picture

Gold is up $12 or 0.95% and this is a SURGE?

Earlier today the ZH webmasters in in Zimbabwe called something a 'scream', ... I would hate to imagine the use of english words in Zimbabwe if we were to see some 10% or 50% collapse in one hour?

If finger pointing is a 'scream' and +.95% is a  'surge' then what the fuck will chicken little call -50% ???


This is only a FUCK for JPM, so it has to have been orchestrated by a GS traitor in the ranks, now everybody on earth fearing a 'cypress' will pull all funds out of JPM, they can't have been this fucking stupid, unless Goldman-Sacks orchestrated the Russian Fuck.

Wed, 04/02/2014 - 10:30 | 4617211 DaddyO
DaddyO's picture

Relax Francis, the surge is indeed a surge. It's just that the amplitude is not very high. The frequency is not tight either. ;-)


Wed, 04/02/2014 - 08:57 | 4616800 jjsilver
jjsilver's picture

The same people manipulating to the downside are doing the same to the upside, to make the people believe the ONLY reason to own precious metals has absolutely nothing to do with currency debasement.

Wed, 04/02/2014 - 09:07 | 4616835 realWhiteNight123129
realWhiteNight123129's picture

War the excuse of bankrupt politicians to inflate away the debt.

Wed, 04/02/2014 - 09:20 | 4616903 jjsilver
jjsilver's picture

it's not going to work this time

Wed, 04/02/2014 - 09:08 | 4616840 A_Nejad
A_Nejad's picture

^^ This.  Thank you Sir.  Never understood why people play the Casino and hope to win, unless...

Wed, 04/02/2014 - 09:05 | 4616828 realWhiteNight123129
realWhiteNight123129's picture

Asking for delivery?

Wed, 04/02/2014 - 09:56 | 4617056 1stepcloser
1stepcloser's picture

he's asking for Germany's as well.  

Wed, 04/02/2014 - 09:10 | 4616854 SmilinJoeFizzion
SmilinJoeFizzion's picture

Bear dry-humping Dimon

Wed, 04/02/2014 - 09:18 | 4616896 Yardfarmer
Yardfarmer's picture

wow! Au "surging" $12 whole dollars! I'm gonna raid my Karl Marx piggy bank and get some gold. spectacular!

Wed, 04/02/2014 - 10:26 | 4617191 The Abstraction...
The Abstraction of Justice's picture

Help bring this manipulation to an end:



Wed, 04/02/2014 - 11:15 | 4617370 Carpenter1
Carpenter1's picture

There's  already much bigger players like Sprott who are suing the gold fix banks. If they cant bust the cartel, surely this lawsuit wont either.

Wed, 04/02/2014 - 17:27 | 4618777 The Abstraction...
The Abstraction of Justice's picture

Are they targetting Deutsche Bank in Germany?

Wed, 04/02/2014 - 11:26 | 4617410 jubber
jubber's picture

Gold up US$ up ...unusual

Wed, 04/02/2014 - 12:31 | 4617641 MrMajestic11
MrMajestic11's picture

so let's get this straight- a bounce the day after making the lowest low in 35 trading days is a "surge" relating to some amorphous understanding of an unidentified causal model?  Good God man- get a life.

Wed, 04/02/2014 - 18:55 | 4619061 Herdee
Herdee's picture

Maybe a lot of nervous nellies just plain buying physical gold before Friday's news releases.If the statistics are interpreted as good or bad,I don't care,I just hope that all the big players in the world keep draining the physical.I bought another quarter ounce myself this week.

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