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Gold, & Silver Jump As Citi Sells All USD Positions Fearing "Squeeze"
UPDATE: Every dip is to be bought...
After a week of punishment, precious metals are kneejerking higher this morning on the heels of a Citi FX note explaining they are cutting all USD longs - "This is an opportunistic exit as we feel we may be due for a squeeze of USD long positions similar to what happened at this point in the cycle last year." The USD Index is sliding quickly and Treasury yields inched higher (but remain -1.5bps despite equity strength).
As Citi notes,
US assets have significantly outperformed overall, with the US MSCI index outperforming all its G10 counterparts, while US fixed income outperformed all but European bonds (EUR-, GBP- and SEK-denominated).
Therefore the notional on currency hedges should be increased proportionately more on US assets, which may be USD negative.
Signals are between half and one historical standard deviation.
The USD Index is slding..
and PMs are moving higher...
Charts: Bloomberg
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Would appreciate some USD weakness to take my overnight EUR/USD and GBP/USD long positions to the heaven.
WHOOPDY FUCKING DOOOO ABOUT THE USD INDEX!!!
http://www.marketwatch.com/investing/index/DXY/charts?symb=DXY&countryco...
You call that a big move tylers???
Gold up , dollar down... oh, wait.
YAWN.... Ive seen looser trading ranges i a straight jacket
When in need of a microscope, use a microscope.
The BULLSHIT Manip Of GOLD Goes On...
The Main Support For USD Strength Is The Paper Selldown Of GOLD.
This STORY Is Getting Very Very Very OLD...
Wow! Stop the press: gold is up $2-3!! Poof, aaaaaaannnnnd it's gone!
Just like CNBC has stock to sell, ZH has gold to sell.
Stop flogging a dead horse!
Meltdownnnnnnn!
Just saying.
I guess Gold and Silver just un-jumped again. Or is it de-jumped?
Wake me up when gold is north of $1900.
1400.00 would get me excited even.
Gold blips upward 1 point and it's a noteworthy "jump" on ZH. Let's see... that's less than 1-tenth of 1 percent. Why do I even bite on these articles that Tyler posts?
Gold is the most managed substance on this earth.....you gotta be crazy to try and predict that.
hmmmm.......how bout silver? now THAT is managed
I think most of us click on these posts because we subliminally know that the "Trending Articles & Offers" just below the stories always have chicks with big tits, deformed piglets or old geezers doing push-ups. Now that's entertainment.
I only come for the comments. And to up vote people who think like me. Makes me feel special.
It has become rather sensationalist, hasn't it.
Wake me up when gold is north of $1900.
I'm not sure I'll be around in 20 years.
Yes, that will be the day that all those goldbugs here will exclaim en mass: "See! We told you gold would go up! The recovery of the gold price is just around the corner, if you look real close you can even see some green shoots! Any minute now..."
Jumper
http://finviz.com/futures_charts.ashx?t=SI&p=w1
I really prefer that gold and silver get knocked down further. but, that's just me, I'm a tightwad who likes to get moar for his fiat.
Buying a little at a time,waiting for this shit show to blow up but in the end the longer it goes on the better off i am.
hurry up, CB won't be able to keep prices low much longer.
Dr. Tightwad to the coin shop. Stat.
Dang! And I did'nt BTFD.
Yeah, hell of a jump.
$1270 - $1280 is hardly a jump .
All within "normal manipulation parameters"
A Jumps is +$200 ... anything else just the usual manipualtion.
the paper motherfuckers are running the show.. pump and dump..
$1270 - $1280 is hardly a jump
Thank you Captain Obvious.....anything else?
Hyperbolic rhetoric seems required of Tyler's typists.
@aleph0. And it seems to find it much easier to jump down 200 than jump up 200.
"jump down 200 " .. also within "Normal Manipualtion Parameters"
CNBS is quick to cheer AAPL rising 10% .... or even 8,750% ( 8$ - 700$ pre split )
But if Gold even dares to move +2% ... it gets a hammering.
This is what it takes to bring silver up 10 cents...
and a fart can push it down 2 dollars in a week...
hear C roar with those massive positions. bug lulz
I see Au down $2 on the session and Ag up $.03. I too am hoping for a washout and new lows, particularly silver. I expect to see it by end of the month. One star for this timewaster.
Ah yes, the cycles, the rotation, the slosh, the 1% "corrections", the non-stop ramp of cotton candy equities.
Quick, somebody sell some paper gold to crush tangible Gold, sell transports and buy tech., sell biotech and buy retail, sell utilities and buy crude.
Now have a central banker jawbone markets with the possibility of selling our kids down the river further with another $1 Trillion of debt for the money-changers.
Lather, rinse, repeat.
You heard all that on Mad Money last week, right?
I am getting close to admitting defeat. When the metals make there final move to balance the currency/debt/derivatives it will be too late unless you have left the USSA.
I wonder who is going to want to go to war for these bankers because that is where we are headed.
This grammar nazi is close to admitting defeat on "their" versus "there".
There = "over there" or "here" with a "t".
Their = "their car" or "heir" with a "t".
When metals make their final move to balance the ponzi is when their purchase or sale will be outlawed and .gov will get rid of paper/coin currency and move to 100% digital so it can all be captured.
Nazi is capitalized. They're, i fixed it for ya.
Bwaaaahahahahahaha.
Zing! You got me. Good work.
The Fed dumps trillions of dollars into the rigged "System" for several years... That would be bullish for metals boys and girls, only on problem.
Who? > 200 mil of bravely brainwashed US citizens who have no clue how the world works outside of their county.
Ah yes. The orchestrated incremental collapse. Death by a thousand paper cuts.
You're spot on aleph0. Nothing will change until the winner of this banker led money war is decided.
In a war there are no rules. Warrior bankers are not held to account for their deeds (for the most part).
How long will it last? That's the 2 quadrillion dollar question.
And treasuries continue to be bought...
Laughable.
Utter. Durden. Bullshit.
Really , where ?
Gold up $3!!!
Time to post an article!
And then slapped back down again...
Gold is still missing a zero at the end of its price.
Infinite QE:::: Gold is missing a zero at the end of it's PRICE.. LOL! when you can simply PRINT ALL YOU WANT (as they do) you must Proove to the sheeple how well things are working...
Another short lived "rally" completed.
Last week, I was actually thinking of buying some more metal and then I thought, "why bother?" The trend is clearly down once again and I might as well wait for the secret "quadruple bottom" which will surely signal the great run up.
I am not Chumbawamba.
No. Durden. Defence. Anywhere. To. Be. Seen.
(Look bub(z) - we all fuck up - it's part of the human condition. At least ADMIT it! - and move on..)
Too much Russian pride?
Silver's up .03 cents.
Waiting for a dip.
Can someone explain to me what 'Gold, & Silver Jump' actually means.....
I’m checking a popular website and they show gold down and silver about even.
TIA.
I think it means that the dollar printing machine jammed for a few minutes.
Can you imagine how F****ing huge a move we'll get in Q4 to make Bo Polny's forecast good? I'm sure Santa wiill be so proud of his protege once we break 2000 sometime before 12/31.
And Charles Nenner will be the great hero when we see 2100 sometime in January. Can hardly wait for the great Christmas I'm going to have.
Of course if they're wrong, then we'll just wait and see if Armstrong is right.
(F'em all at this point, really.)
Who?
Citi-poop?
Which Citi analyst was this? Just back on August 14th Tom Fitzaptrick put out a chart predicting USDX going up... see Chart Of The Week & Vladimir Putin & Chaos Around The World on King World News archives to potentially 84 (bad for gold).