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Oil Tops $83, Gold Over $1255 As Commodities Spike Higher & Riyal Slides To 2009 Lows
It is unclear what the catalyst is - aside from the bounce back from The FT's rejection of Reuters rumor-spreading about ECB corporate bond buying but instead of the usual morning smackdown, precious metals are spiking higher. Gold hit $1255 - its highest in over 5 weeks). Oil is also spiking higher, WTI just broke above $83 (so much for that consumer tax cut?)
And oil is spiking too...
For now its unclear what is driving this BUT we do note that Saudi's Riyal has tumbled notably away from its peg in recent days... weakest since Jan 2009
Charts: Bloomberg
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Well, they way things are going, there is no center left to hold.
Shit's going Ozymandias on us.
Pfft, precious metals have no intrinsic value... /sarc
the SPT (Spike Protection Team) will handle this phony paper optimism in no time. Send out the flying monkeys!!!
Think of the money being made by those who know in advance what announcements there will be, and when.
So the vast majority of new Amerikan production is only losing like $2 per barrel now?
They surely can make this up on volume.
pods
Great hour-long seminar:
Miles Franklin hosted a Webinar moderated by Media Director Andy Hoffman featuring top minds in the silver research community. Panelists included David Morgan, Harvey Organ, Steve St. Angelo, and Bill Holter of Miles Franklin. They discussed supply/demand of gold and silver, mining production, oil prices, trading, and the bullion industry. To listen to the interview, please click below.
http://blog.milesfranklin.com/miles-franklin-all-star-silver-panel-webinar
They are letting gold rise a bit, so they'll have room to smash when they announce QE4.
May have missed it in other threads.
Any news on Harvey Organ?
He's missed round these parts!
SilverDoctors is allowing him to post his blog until he gets another site up. Google said they had a court order to pull his sight but Harvey has asked them 5 times to produce it and they haven't. It was interesting timing since harvey had just done an interview with Greg Hunter where he indicated the silver manipulaiton would come to a head in December. Hunter is trying to get him on to do another interview on USAwatchDog.com
Here is the interview harvey did with Hunter
https://www.youtube.com/watch?v=aZwSiHBxm0c
That crap is as good as gold.
You cannot make money 99% of the days of the year based on merit alone. There must be some malice mixed in....
How sad that gold going up 6 bucks merits mention...
So you can jump in before it gets hammered down.
... or an oil index going up 80 cents... like $115 in June was a distant memory... a "spike" would be a jump from 82 to 92, not 82 to 83
Paging Kevin Henry?
Edit: Paging!!! Fuck, showing my age.
Relics of sanity. I'd like a double dose please.
good beer..
It's as though there's some fear out there. But fear of what......hmmmm.....lets have a think......
(PS I'm taking delivery today, happy motherfucking tuesday!)
It's called a headfake...see you at $1050
Nadler cult follower.....and damn proud about it.
Nope, bottom is in. $2000 by Christmas.
May God forbid. Then I have to spend more to buy it
Where no physical will exist anywhere on earth.
But if you can sell a piece of paper for $1050 then nice work. Perhaps you can also sell me a non-descript rock that keeps bengal tigers at bay.
Physical Gold existed at $260 and I bought some at $260.
Physical Gold existed at $1050 and I had also bought it at $1050.
Physical Gold existed at $1900 and I bought it at $1900.
But...You know...I am not selling. Why do that?
For fucking paper?
Hope so.
Then I buy moar on the cheap.
Manipualtion where you look.
So IBM pukes, McDonalds earnings and forecast suck, Verizon has a hairball and Coke guides lower. And the markets are higher. Makes sense, right?
Sure glad these are company specific stocks and not a measure of the global economy. What a fucking disaster.
Another $550 and it will be profitable to mine long term.
those days and much more are coming...be patient, have that popcorn and the tequila ready, cuz one of these days in the not too far off future we're going to see quite a show in PM's after the paper Crimex collapses.
Fuck i was hoping these prices would sit still until payday next week!
I wouldn't worry. As history has shown many times over, it will be monkey-hammered back down and sooner rather than later.
The only direction the PMs are going is downwards, in the short term.
They will be bounced around enough to imitate a real market, though.
History is as reliable as the testimony of a coke whore.
don't worry....there's plenty of time. these prices are great and below avg. cost of production until the paper silver price gets back up to around 23 to 26 dollars. So don't worry...have your dry powder ready to stack on payday...just don't buy a bunch. Buy 20oz's and then wait and see what happens.
I think they will trickle up the prices to around 25 for the rest of the year as they try to unwind their shorts. After 25 though there really isn't a lot of resistance and I think I'll buy up to 25 and then wait. I feel they will let it run up to 30 to sucker a bunch of chasers in and then they'll hammer it back down to 25 or lower again to mind-fuck some weak hands.
When that bottom is established around 24/25 or so then it'll slowly go back up over a long period of time.
Just my humble prediction...been thinking this all year but it won't really get rolling until they allow it to get solidly back above 21 or so.
< $16.00
< $19.00
Which will we see first?
Gold will have to pass through $19 before hitting $16.
Actually, you are "right". The paper price of gold will go to zero causing countless suckers to cry like pussies.
If gold goes to $19 bucks we will be throwing it in the streets, literally.
Those damned bankers are manipulating the price of Gold again. Oops! sorry. It's only manipulation when it goes down. I must get my paranoia shit together.
Why are you still here? You must've made millions by now trading the honest tape.
Ahh, that is an easy one jmcadg. $19 for sure. Hope you are on board.
;)
Never was a big fan of the total manipulation theme. Sure, short term markets can be moved about in a thin volume setting. But from 300 to 1,900 in a few years and back to 1,200.These are markets and they do what they want to do and many times fundamentals do not matter. Just look at todays mega company earnings and check out the futures. This is beyond funny. It is pathetic. But have not sold one share of miners, one ounce of the silvery color stuff or one ounce of my shiny stash. Our patience will pay off. Keep that hand on the tiller.
The closing manipulation is the one that they will cover in the news. The fractional gold and the tail wagging the dog manipulation is so structural that they do not even acknowledge that it is manipulation. They view it as part of management. Volker called it managing the price of gold.
if the demand for gold is 70 million ounces....
and the supply is 110 million ounces.....
which way is the price of GOLD going...???????
Up.
In this backwards market it is always opposite day.
Depends on where you get your supply / demand figures...
Well...actually the price depends upon where you get your supply.
Paper Gold is not Gold. It is paper.
And that price for that paper Gold is headed to ZERO.
Of course nobody on God's Green Earth will be selling their Gold at that price.
Onward to $7 Gold. A Uncle Milton Friedman fairy tale come true.
I've heard this story before. My prediction is that it will go to 0 or infinity or somewhere in between. Time will tell.
$7 gold and the world will be such a safe place
does Mad max ring a bell
"We will print MOAR" -> price goes down
"We will NOT print MOAR" -> price goes up
Am I the only one who has difficulties following this logic?
With NIRP it is the newfangled way. You are soooooo Old School.
During my lunch break today, I popped into town and bought (and removed from the bank system) a half-kilo physical silver bar, so it must all be my fault.
hehe :)
I just love dem OTC silver ingots (bitchez)!.
Cheers!
Melbourne or Sydney?
Analysis of the current international situation by using nonlinear models with critical limits showed that the world is in a similar situation as the imminent start of the 2nd World War. Making arms on debt as a way of solving the economic crisis and unemployment exports are similar to those in the 30s of the last century. As global trade especially in the area of ??commodity rises and falls with the petrodollar, is there an attempt to completely eliminate any exceptions. Today's gradual transition BRICS countries on gold- ruble crisis accelerates the trend in Western countries and reveals the greatest weakness of their prosperity -life on debt, which in many world powers have achieved more than 60% of GDP (France, Ireland, Italy, Israel, Japan, Canada, Germany, UK, USA, Spain, ...).
Most important, however, seems to be finding that most of the "developed" countries (especially the USA) wants to solve its economic problems in a similar way as Hitler in the 30s - gradually sparking local and global conflicts.
CL OCT contract expires today, there are probably a few traders that need to close their shorts prior to the close of reg. trading.
Waiting with bated breath for fartmans next market update...
Markets still riding high on Bulltards promise of never taking the punch bowl away.
Great hour-long seminar:
Miles Franklin hosted a Webinar moderated by Media Director Andy Hoffman featuring top minds in the silver research community. Panelists included David Morgan, Harvey Organ, Steve St. Angelo, and Bill Holter of Miles Franklin. They discussed supply/demand of gold and silver, mining production, oil prices, trading, and the bullion industry. To listen to the interview, please click below.
http://blog.milesfranklin.com/miles-franklin-all-star-silver-panel-webinar
I'm stackin my stash, and getting paid to do it. Anyone interested in doing the same, email me at auroraassociatesdublin@gmail.com
I'm stacking my stash, and getting paid to do it. Anyone interested in doing the same, email me at auroraassociatesdublin@gmail.com Place Zerohedge in the subject line please.
Interesting article here; http://www.sprott.com/precious-metals/reasons-to-own-gold/
fuck sprott.
good luck and bring some flowers... mabbe playing hard to get
try to analyze a rigged market = fail !!!