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Best Day For Gold Since September 2013
Following a heavy volume flush and reversal around midnight ET, gold prices surged today. The 3.3% rally is the best day since September 2013.
Best day in 14 months...
With a big flush reversal overnight...
And ETF holdings slammed back to levels first seen in March 2009...
Charts: Bloomberg
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Not long now, before we have a referendum in Switzerland. That could make gold bears womit. Those caught short if the Swiss People vote to restore their holdings, will not like it. That is, most western
Central Banks with empty vaults.
All the Cantons need to then ratify any referendum so it's a messy situation at best. I hope it passes of course.
I was actually hoping the price would stay low for awhile.
[Need to accumulate more...]
GOLD, It's whats for Dinner!
Swiss referendum interesting though anticipated. Funny thing, all told, if the black swan flies in slowly in plain view of everyone
"Best day for paper gold in 14 months...keep stackin'...
One of the ONLY days in 14 months
The recent price smashes were probably intended, among other issues, to discourage those Swiss fools who thought backing their currency with gold would be a good thing.
Well I dont knwo about "fools" Swiss standard of living though their population is a lot higher than most countries around. And in comparison not falling but rising. Fools?
Good to see gold rise - but don't get your hopes up...
TPTB will smack it back down in 3... 2... 1...
I pray you're right, the recent slump was far too brief.
yup, now that the 1280 resistance is punctured,, shouldnt be too hard to keep it down there.
After all, if china russia and india can still take delivery at under 1280, why force it back over?
"... Swiss standard of living though their population is a lot higher than most countries around."
Their standard of living is an illusion, just as it is in the United States.
We are all consuming more than we produce. The European Central Bank and the Federal Reserve are paying for it with "fraudelent notes", aka Euros and US Dollars.
It is just a matter of time until this Ponzi scheme collapses.
Plan accordingly.
Yep, that's it, the bottom of the Gold price. 7th this year. This months long Gold life line goes to........ "The Swiss". Forget the Indian's, the Chinese, The printing Fed, and The Printing Japs. This time it's different those Swiss will get this Gold Turd polished.
Now they think the gold futures market is fine. No more manipulation ahead
you forgot the printing of euros
people around here havent heard that the chinese and indian buying season has been move to the day when gold hits 900.
Christian financial advisor
http://www.christianfinancialadvisor.ca/
Christian financial advisors
I think he was being sarcastic; the Swiss are "fools" from the POV of TPTB, and the Central Banks.
Besides, it is MUCH more fashionable and acceptable here on ZH to call Americans "fat, lazy and stupid."
Yeah, you're right! There's no way the BIS and the central bankers would subvert the will of the people! Especially not the Swiss!
they might let it go up some more, make $ going long on the way up, then the midnight marauders will, before the swiss referendum, short the hell out of it. probably in the next 15 days or so.
I like Hugo Salinas Price's opinion of the Swiss gold initiative. It's like trying to rehydrate water.
Too bad this is the argument used these days by the usual gold pushers to bring a little hope to goldbugs.
It will not pass, then gold and silver will make a new low that will make some fellow goldbus puke.
(I have been buying gold since 2001, I am still buying now)
And you think Rotschilds cartel will let people become self determining of a key instrument over paper... watch media overdrive, I stand in hope to be proved wrong.. then I look at Scottish referendum, Globalist running the show matey..
my roomate's step-mother makes $75 hourly on the internet . She has been without a job for 5 months but last month her paycheck was $20377 just working on the internet for a few hours. Get More Info... www.Yelptrade.com
Barbarism lives!
I'm not getting out the SCUBA gear until it reaches 5000. Wake me then.
You are going to get a bad rash from that.
Just sayin'
When the FED sells theirs, I'll sell mine. How 'bout those apples?
Dead cat bounce. Obvs
Only 4% down this month!! Yehaaaaa!
today paper gold market is good, not rigged because gold is up. right?
I lol'ed hard, no its not rigged because it's up - thanks paper gold!
lol'd because he took three different posts to say exactly nothing.
you're happy today huh? that's great we all need those kind of days even the ZHers, I've had too much of those days. The irony is that I made all this money and I can actually buy gold for cheap than a month, 6m a year, two, 3 years ago and preserve my wealth as you would say.
thats exactly why - etf buying bought back then sell it all because the sheeple around here believe its the bottom. They should be thanking goldman for calling 1180, that's not even the bottom yet. 900 is my call within 12-18m, then maybe you're off to the races ala 2008.
Yeah! This is it! That breakdown from the triple bottom was just a headfake, and now the commercials are on the run! Say goodbye to those 1050 forecasts, the BIS and the bullion banks are in for it now! Redemption for King World News! Miners are going to make their comeback! I can't believe the bullion banks had their boot on the neck of the gold market and let it go, but just shows, even if you make the rules and are infinitely criminally crooked, you can't get your way forever!
I know there've been a lot of false starts in the past, but I have a REAL good feeling that justice is finally going to be served on the criminals who run this system, and change the rules to their benefit whenever it suits them. LOL
If you want to see Justice served ... go to the movies
the only time it will be allowed to rise consistently will be if all the insiders are in their lifeboats. You think the oligarchy are in their lifeboats yet?
(idiots should be, theyve only had 6 years warning)
You know, I just figured after they'd spent years setting up that triple bottom, and then triggered the breakdown below 1180, with the typical middle-of-the-night selling that they'd take advantage of the momentum they had, and all the technical trend followers, and just push it until GLD was drained. But I guess they finally decided that it was time to stop gaming the market and do the honorable thing, and just deliver up rather than continuing with the bogus, ridiculous manipulation. I really have to hand it to those BIS guys, I thought they were criminal scumbags, but turns out they've seen the light and decided to play fair, even though they have proven they can do whatever they want. Kudos BIS, you're a good bunch a fellas.
or they still want the dumbest of the dumb money to think there's some shred of validity in price movements
edit : or they looked at the explosion in open interest and said holy shit we're gonna lose our ability to manipulate this thing if we dont restore some confidence to the sector
You can learn about, and donate if you wish, to support the Swiss gold initative by following the links to the site on this page:
http://beforeitsnews.com/alternative/2014/10/swiss-gold-initiative-advoc...
The site at the links are in German but can be translated.
Was silver halted this morning because of a spike up?
I saw a vid with screenshot of ZH saying it was..
http://www.youtube.com/watch?v=S-FbtjpIDhI
kitco shows the high at 16 us at the halt.
So there was a halt, then. Cool, thanks.
They are very quick to stomp the brake if it starts to move up.
Gold has the same long tail above it, about 8:30 AM.
Love silver...just grabbed some myself actually. Lot of technical resistance however and Government might try and fix the price. Hold onto those used cars too....
Speaking of used car salesmen....TA died for gold and silver in the spring of 2011. Specifically on a Sunday night/Monday morning when Bin Laden was supposedly killed. The Boston Bombing false flag/hoax was another "reason" gold and silver fell hard in April of 2013.
Or did you miss all that?
Exactly ritght Bay. Sunday night May 1st Silver was just under $50 when they killed Bin Laden again. Which brings up the hoax of the Seal from team 6 killing Bin Laden. He probably killed someone but it sure as hell wasn't Osama. He died in early 2002 of "Marfan Syndrome". Tough getting dialisis machines to work in those caves.
Tuco
Panic will only be allowed on the downside
Gordon Brown is buying. There's no other explanation.
Son of a bitch, I knew I shoulda bought few rolls when the silver eagles hit 18.22 on silver.com.
Inside The Shanghai International Gold Exchange Vaults
http://www.youtube.com/watch?v=LNCZtO6GdAs
There is no way the Swiss will vote in favour of holding gold. And we will sink to $400/oz
for sure it won't but that don't speak or write that kind of blasphemy around here. I gave you an upvote for actually being honest and not to follow the sheeple around here.
yes thank you for your honest stupidity. Are you looking for $1.50 gas as well? I have some unbelievable investment ideas for you...
Check out Jim Cramer on CNBC he's your man!
so you're absolutely sure that the swiss will vote FOR their currency to be fully backed by gold? hmmmmm k. 90-10 NO and gold gets crushed.
enjoy your +37 US dollar errr fiat currency.
the yes vote was out in front before theyd even started their ad campaidn. And paypal's 'intervention' will not play into the hands of the no campaign.
TPTB played it wrong and have really stung their democratic pride
Well; tomorrow lthey'll publish the open interest from today; if it was significantly lower than the day before; then the price move was primarily a short squueze and short covering; if the open interest is higher it was primarily new long buyers coming into the market. So you have to wait till tomorrow; but at least that's real information and not bloviating.
Could be Japanese Citizens waking up. If I were living in Japan I would be buying Gold with everything I had.
Complete surprise to me; I have no opinion one way or the other.
Things are going so well that AT&T announced today capex in 2015 will be $18 billion
of course, capex in 2014 $21 billion ...
It's intersting that you published that chart of GLD holdings; when they serviced those redemptions for their clients they sold Bulliion; into the LBMA, primarily; but their stocks are very low. So the interesting question is where did the gold go. And I would suppose the answer is into private strong hands. the delusional "internet wisdom' that GLD doesn't have any gold and doesn't sell Gold is, of course; nonsense. but there's always a market for flat Earth Theories.
I do know that some physical bullion has been finding its way into my private hands.
And, I assure you; my private hands are strong.
[Not buying to get rich. Buying to preserve wealth through the coming crisis...]
Cash, Bonds, Gold (& Silver)...
If one is holding paper gold through an etf the end result is the same - wealth is preserve and more through the gains when gold rallies, and have the option to sell your gain and buy the metal and take delivery if one chooses to.
I don't see any technical resistance under 1220. If GC is quick to bust through that level, we're looking at 1275 with a likelihood of a retest of July's 1350, then of March's 1400. IOW, we could be beginning a medium term trend change for gold. Which is probably not very good news for stocks. Not trading advice, btw.
some folks got fucked for there gold. http://en.wikipedia.org/wiki/Folk
Kill the paper gold markets; if you don't have possession it is a paper lie.
ETF's exist to suppress tangible assets and prop phony ones.
you mean paper gold exist so you can enjoy a day like today.
Are you ZH's latest gold troll, or just having fun talking out of your ass?
I'm a troll because I don't agree with your view of gold and the world? what's so wrong with what I wrote? prove to me that gold's rise today was in fact physical buying and not paper gold buying.
No, I was referring to your stupid fucking comment above.
Physical buying has had no impact on the gold price for over 3 years now. What part of that do you not understand?
I've been short usd/jpy from Tues-Wed this week. You can't go wrong with PM's or any valuable tangible assets.
If you look at the $usd in late 2007, while the GFC meltdown was underway, you'll see the $usd didn't bottom out until the end of February 2008.
just buy the physical metal and stash it.
Wait for it....
Yeah what Evs. They'll ass fuck it again....and again and again, it's a computer program. It does what they say. The entire market is artificial. One day reality will come back and that day will be very shitty but it's a ways off. Just stack.
Hope Russia kicks the FX scum right where it hurts: in their pocket books, by demanding GOLD FOR OIL/GAS.
I don't know about the short term trend but I think we get a bounce of some substance starting this month. The action today was very encouraging in the sense that this last leg down didn't have legs and hence it was a case of "the last idiots selling." For me the crucial fundamental factor (assuming that fundamentals still matter) is the price of oil. If it's dip below 80 is a head fake (like that which we are calling gold' s dip this week as) then we have probably seen pretty much the bottom in gold. If, on the other hand, oil dips to 70$, then we could flirt with the low 1000's on the deflation scare. I personally prefer the first scenario if for no other reason that it's jives better with the favored growth story promotted by the Fed. Of course with all the geopolitics in play it is silly to try to call what convoluted scenario these fuckheads are going to try to paint. Oh, and also gold stocks are so beaten down that any further fall will bring into question their very survival and that of the annual supply of gold which at last count only satisfied south of 60% of annual demand. How long such a situation could last is anybody's guess but it doesn't look too "long term sustainable" - Sarc. off
Let's see 1180-1185 region on paper-'value'. You buy and own fysical gold and maybe you place a short on paper to iron the dayvalue of your property.
Look at paper GOLD (Au) this way.
It's kinda like renting an expensive home in a good neighborhood, that you could have purchased at a good price.
Here we go measuring money in Yellenbux again.
Never made this call before, but I'm predicting the bottom is in for silver. There you go, guys. Silver is now guaranteed to hit new lows. You're welcome.
Wait
Following the gold market this week was almost exactly like going to the racetrack, losing $1500 through the first eight races, winning back $350 on the ninth, and walking out feeling like a winner.
this is what people around here have felt for the past 2 years, then today - winner! let's go home...
http://www.reuters.com/article/2014/11/07/us-ecb-noyer-idUSKBN0IR0ML20141107
IMF, US encourage Japan, ECB monetary stimulus
PARIS (Reuters) - The International Monetary Fund and the United States encouraged the European Central Bank and the Bank of Japan toward greater monetary stimulus on Friday and urged governments around the world to do their share to cultivate growth in their countries.
Calling the world economy "fragile, brittle and fragmented", IMF Managing Director Christine Lagarde told a conference of central bankers in Paris it was "perfectly legitimate and appropriate" for the ECB and the BoJ to take unconventional steps to combat low inflation and economic stagnation.
U.S. Federal Reserve Chair Janet Yellen said central banks "need to be prepared to employ all available tools, including unconventional policies, to support economic growth and reach their inflation targets," especially where governments have withdrawn fiscal stimulus.
The comments came a day after the European Central Bank ordered its staff to start preparing for bolder measures if needed to fight slowing inflation, on top of a range of rate cuts, asset purchases and lending operations already agreed.
However, Indian central bank governor Raghuram Rajan said whether "more stimulus is the answer" was a good question. More economic reforms were equally important, he said.
Lagarde said governments with healthy budget positions should do more to support growth, describing as insufficient a German announcement of an extra 10 billion euros in spending on public infrastructure over the next three years.
"In this part of the world, we have to repeat over and over that monetary policy cannot be the only game in town, and that there has to be a combination of sound fiscal policies, use of fiscal space for those countries that have fiscal space in order to support growth and rejuvenate that growth," she said.
"Clearly, the announcement that was made yesterday was in the very small ballpark of what will be needed in order to do that."
ECB Governing Council member Christian Noyer said central banks, including his own, should be prepared to buy public debt if needed to avert deflation or a run on sovereign bonds.
"Such an action may be vindicated if there are risks to macroeconomic or financial stability or even if self-fulfilling runs on public debt may be a threat to market access, or lastly to avoid the deflationary consequences of a public debt event," Noyer told the conference.
Churning the market with big opposite moves like on Wednesday and today means a lot more bang for your buck if you can create money out of thin air and are on the inside of such moves. The market can only go so far up or down before it runs out of room but it can churn forever. Intent probably to flush out the real stuff with paper.
Someone likely got a pocketful without moving the market significantly over the full extent of the week.
All the pro/con hype on sites like this one sets people on both sides up to be scalped.
Think about this - the US Mint ran out of silver blanks for 2014s - right when they SHOULD have a big supply of blanks in stock - ready to stamp 2015s! If they are having trouble finding silver blanks, they will eventually have to find somebody, somewhere, willing to part with $15 physical - and there are not a lot of those out there. Hence the Mint and silver blanks makers are going to be shaking the bushes and getting ready to stand for delivery. Will Shanghai, London, and COMEX be able to meet that demand? Or is this 'Failure to Deliver' time?
They are probably running up the price before yet another record mintage. It is the government after all.
Perhaps Forex is the better way to trade the markets...
http://www.globaldeflationnews.com/forex-vs-stocks-whats-better-to-trade/
I'm going to buy some gold next week and then short gold - to see if I can preserve my wealth if I play both sides of the gold market.
Spoken like a TRUE pimp.
I don't know about this being a "best day". Its more like a cat crawling up from the gutter after being bounced there by some asshole delivery driver who aims at cats to make his work less boring.
In fact its just like that. If the cat thinks, "this is a great day! I'm still alive." great. But thats a subjective position. The UBS driver is coming back tomorrow...