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Silver Soars 17% From Intraday Lows: Biggest Swing On Record; Gold Tops $1210 (+$70 Off Lows)
Silver is up over 17% from its intraday lows today - this is the biggest positive swing since our data began. All the previous major swings have been downshifts, most recently in September 2011 (-22% and -18% over 2 days). Volume is very high also. Gold is back above $1,210,up over $70 from its intraday lows...
The biggest intraday positive swing on record... ($16.82 is next test for SIlver at 50DMA)
And gold and silver are exploding... (gold has broken above its 50DMA at $1205)
Silver & Gold are back above pre-OPEC decision leak levels...
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Nothing to see here. Move along.
Gold tops $1,210?
Make that $1,215...
[Whoops! Make that $1,216. Replay of last Wednesday?....]
Do I hear, $1220, 1225, $1240, $2000?
I wonder how much AU the russian central bank is buying? What about China or India?
Amen and hallelujah!!!! (starts to swoon)
100% fully manipulated still. Churn and volatility creates "trades" for the paper pimps.
The market is a POS, and will be until the end of this nonsense.
What goes up 17 % in a few can come crashing down 17% in a minute.
Agreed, this is all mind fucking, not fundamentals (or is that funda-metals?).
When it's real, we'll know it in our bones,
Not yet, this is just for the insider swingers to make money on the way up and on the way down, joesixer shorts and longs are equal dupes.
You know it's coming to an end when the downturns don't last long enough to even place a trade. After last night I thought I'd get a chance to pick up 100 oz of silver today on the cheap. NOPE.
And here it is in a nutshell: The little guy can't take advantage of the dips. Better a year early....
I was 5 years early
Doesnt volatility portend a market crash?
FFS! We see the derps here still get excited about a price move in a market that they say is manipulated?!?
Yes, it is manipulated so why the fuck do you care? Will you get excited if someone say sells you a running 2014 Mercedes for $20 knowing full well they don't have one to sell? Think about it, you give these criminals your consent and they own you.
You don't think that end-of-month beginning-of-month market jumps are anything other than free markets at work do you?
We think that if you allow criminals to control your language they will control your thoughts, if they control your thoughts they control your world. If you think dollars are shit, do not accept dollars, if you think media is lies do not watch the media, if you think silver market is corrupt do not call it a silver market. Do not legitimize criminals. Do not allow them to control we language!
I agree with the following caveat: This market will eventually fail. When it does, it will start telling the truth again. I think we all tune in and keep looking for that moment when that starts to happen. Volitility is one of the signals that it is ON. Those of us here who see it this way know the volitility can be manipulated for profit, we get that. But it can also be the begining of the end. We want to know that too. The bottom line is that there are guideline principles to use looking at this thing, but no hard and fast rules. We are all nimble and we want to stay that way. I bet if you think about it, you know it is true for you too.
How long do you think these central planners can keep this up; 1year. 10, 100, well try 5000 cause thats how long golds been at it! You must own it because fiat could all crash tommorow morning!
I agree, I am hedged accordingly. I am not in any market but I do hold some fiat, can't help that.
MxCreant, with all due respect you do not want to be "nimble". You want to be out of the US Stock Market. NOW. 100% OUT. It's just that simple. it can be proven mathematically that this is the only rational position to take. I thope you take it.
But, but, but efficient "markets" price in risk !!!
HA HA !
Agreed, This is known as the SupercaliANTIfragilisticexpialidocious principle.
Dupe. Network error.
You won't be saying that when silver is at 100 or 200 or? Mr Red Pill
Nope! Better 5 years early than 5 minutes late!
Just think how much (financial) insurance would have cost you for 5 years! red pill
Numismatics are sounding pretty good right about now...
Think Asian. Even with today's uptick, it's still cheap. There were lots of "folks" claiming they'd back up the truck if silver went under $20/oz. Well, it did. A year from now, today's increase won't matter. Just get fizz.
"there were a lot of folks claming they'd back up the truck if silver went under 20.oz/ a year from now, todays price increase won't matter"
Sorry to be the downer here, but since none of us saw this coming a year ago(me included) whats to make you think this cant go on another year, or two, or 5 for that matter? I wouldn't have thought we'd have made it through last year with prices hovering around 20, and here we are, about to start 2015 and its 16. Same with gold.
I think you've raised a legitimate concern. My only answer to you is: I don't know what I'm doing. All I know is that silver is shiny and heavy and Federal Reserve Notes are paper promises from liars.
oh i know, and my above statement seems to have indicated to some that I am not a buyer, when I am. I don't know what Im doing either, I just know that I am 29 years old, and don't trust anthing else for a long time horizon. Personally, I hope the prices stay low for many years to come. I don't trust their pieces of paper either, or their digital paper, and the longer prices stay low, the more I can accumulate while Im young, and the more I can buy my infant son with his christmas and birthday money.
It Does Smell Like A Paper PM (Smelly)Bottom...
Brownish, too..
If got this right, PMs can still go back down until there are some major delivery failures and the fractional synthetics are exposed for the Ponzi they are.
no.... they seem to be always able to stall and print more paper. it will turn around when they decide there is more to be made on the long trade than on the short trade.
$2 billion would buy the entire Comex gold inventory. It wouldn't take that many millionaires standing for delivery before a default would be forced. The publicity from that would kill the Comex.
Buy the Comex?
Hell, if the Chicoms decided it was time to shit in the fictional gold market mess kit and re-value their stash, they could just send Ali MaMa in as the front man and he could do it by himself.
that would be 2000 millionaires thinking the same..niet
and you have 2 billion you are not going to be the first to throw shit at the fan now are you..?
I would. First in, best dressed. Or something.
.
Sling-Shot effect!
She's gone from suck to blow!
Not a crack on the financial channels.
The self styled Business Intelligence website morons crow endlessly about gold and silvers decline, but say little when they rise.
But then, what would one expect from a proven crook like Henry Blodget? Wasn't he supposed to be in jail? I wonder how he avoided it, to whom he sold his soul?
what a POS fuck him and any muppets that listen to him after his e-commerce fleece job in 1999
I am still trying to figure out how his head stays attached to that 12" neck without falling off... I'm doing some extra rolls today in honor of Henry...
Paper gold can do whaever it likes. The paper-pushers don't make any on the skim if there is no churn.
Keep you eye on your ounces, everything else is noise.
Yeah, paper is not reality except to traders. I'd really like to know who is driving the market right now cause this has a slight con game odor to it right now.
Nope, just insane volatility.
The Tylers promise bankers jumping from buildings and everyday I wake up and am disappointed.
Jumping from buildings? Dude, that is so 20th century. Haven't you heard about nail guns?
Jim Willie refers to them as 'flying lessons, with out a parachute..."
wake up, retard fuck. life ain't a video game.
@winchester Aw, you mad bro? I love it when butthurt mouthbreathing dweebles downvote me because you got your ass reamed in some other thread. Makes my day, LOL, thanks. Maybe you can hold your own next time if you grow a few braincells. In the meantime, you're just making yourself seem pathetic. Go home and fuck your sister.
Fucking assholes couldn't let me buy in the 14s. By the time i noticed provident was sold out of monster boxes. Had to buy in the low 15s.
Over 10% price swings in a day...check.
GOFO decade highs... check
Oil 65$ a barrel, first time since Sept 2008...check. (Lehman collapsed shortly after. So did the stock market. So did the housing market)
Public angst fueled by state owned media..... check.
Wars over resource theft...check.
Monetizing debt....check.
I'm glad I'm not counting on any of these guys to be responsible for me.
Long Independence!!!
Dow 20000 here we come!
in the Globex now where no one is trading...
and they shave 30 cents of the phony paper Silver price...
all of a sudden everyone selling...
yeah, ok.
And on the other side of the equation...
Failed gun confiscation program... Check.
Failed false flags (numerous)... Check
Failed war in Syria... Check.
Failed war in Ukraine... Check
Failed Bundy Ranch confiscation...Check.
Failed Ebola pandemic (colloidal silver)...Check.
Metals markets falling apart...Check.
It's just a matter of time.
The article is false. In apprx. 1998, I might have the year wrong, Silver sent from $6./oz. to $7./oz. in one day; obviously a higher percentage rise. It then proceeded to trade back down to 5.25$/oz. No one paid any attention; except for futures trading magazine. Interesting days like t his; but not unique; not unique days; provide good mat erial for propagandists of various stripes; and wonderful click bait. Aside from that, no one has any fucking idea what it means, if anything.
ALGOS; SAT
A $1 move from a price of $6 is roughly 16%. Tonight SIH5 traded down to 14.15 and then rebounded to $16.81. Nearly a 19% move. The two oscillations are definitely comparable, but today's swing appears to be marginally wider in percentage terms.
it means nothing, only fucking fat fuck fools here watching numbers and get pickup to go buy coins to make xtra money on the system they spit on, just a bunch of back-in-mum's-vag dead brain meat.
hey patsysover
Nothing to see because you didn,t see it.
I,m on record on here saying silver shorts would get a little of their own medicine today..
Of course you cant't see what will happen tomorrow ,,, move along.
And no end in sight! $17.50?
I love a thread like this one, it reminds me of the old days. Hang out and talk real money vs. being divided arguing race/class bullshit. Ahhh! What a relief...
Silver and Gold, that's what I'm told, the colors for dis mess, are silver and gold (bitchez).
Oh, you like t o t alk about money; okay. Well, I'm still hanging on to my Dec.'15 Silver Contract, 5,000 ozs. bought at $15.43 on Nov. 11; even tho. today it was temporarily about $4,000 out of the money; that's because I allowed $10,000 in the account to support this one contract; because I've seen this movie before; over and over again as a matter of fact. One purpose of a day like today to force people who have long silver contracts to coughtl them up; to get their stop losses hit. So there you go, a little discussion about the realities of real money trading on the real Silver market.
take delivery
Glad you had money in the account to cover that. Now obey Chubbar and take delivery!!
Actually, I assume this is "play" money for you. So no worries, right?
But yeah, that does suck that bigger players can drive the market where they want to when they want to and fuck with little folks like us.
I don't have enough that I am willing to risk playing in the paper market. In my mind fiat dollars are a "paper market" and that is pretty risky too!!
I already t ook delivery deep in Central Europe in 1999. I don't need any more Bars. I tried to explain one aspect of trading on the Comex to you. The Comex does not exist to buy Metals on; it's a trading platform. It's foolish and pointless to talk about things "sucking"; things are what they are. I never reccomended that you get involved in any markets. You should be out of the US Stock Market now; as your upside potential compared to downside risk is much too high. If you have a typical gov. employment retirement option; switch it to Govt. Bonds. and out of the S&P500 tracking option. That way you won't be worried when the market makes a big dive this year; 2015.
I am out except what is stuck in an annuity I do not control. All good.
Ah, the good old days - bitchez
the Briiics are Stacking
Shake it down, shake it down now
Shake it down, shake it down now
BRIIC...Howse!
Built mighty, mighty, just letting is all hang out!
Screw the silver shorts. They had their moment in the sun courtesy of the Fed (actually since the second death of Osama bin Laden, May 1, 2011)
All manipulations eventually fail.
I was just thinking its got to be about time to kill Bin Laden again.
Funny you mention that... Story on Yayhoo right now about the FBI/DHS both warning that IS is in the U.S. and that everyone who isn't scared, needs to get their scare on quick...
Man, I'm getting so scared I wish someone would just stick me in a cage for my own good.
Remind me again how many times we killed "the number 3 man in Al Qaida?"
Seven times; you're welcome.
Osama the Blade? Osama the Bullet Dodger? Apparently it's fucking impossible to kill the bastard.
http://www.youtube.com/watch?v=uKadFsH6gsw
You sure he's still dead? How does that work anyway...
Iran to prepare for a big currency war?
http://failedevolution.blogspot.gr/2014/11/iran-to-prepare-for-big-curre...
Looks like silver futures topped at exactly 16.82.
How much QE does it take to keep a lid on it?
Please – it's just paper prices. Real bullion is trading for $800/oz in Shanghai.
You mean $1800, yes?
Or was it $8,000?
No, it was nuanced sarcasm.
That's some dangerous stuff to use around here.
yup, too much morrons taking all what they read 1st degree
I'm posting this again because I think it's so important.
Rob Kirby of Kirby Analytics, emphatically states that large scale gold purchases in Asia are currently being conducted at $1800-$2000/oz because physical gold just isn't available for sale at today's spot price.
http://www.goldsqueeze.com/analysis/rob-kirby-gold-selling-for-50-over-s...
Well, I think that it is unlikely that there would be a $600+ dollar spread between the US and Asia with no one arbitraging that differential. Is it "possible" that COMEX and/or LBMA are price settling for $1800/0z? Yes, but not likely for long before every swinging dick in the market jumped on the chance to make 50% in a 2 month trade. That secret doesn't stay secret for long and it's in an article. "IF" this is true then it will be short lived and resolve to oneside or the other, IMO. (If lack of physical then I think we know where it resolves)
Good interview.
If that's true then it may be that currency collapse just got real today.
I live in hope....
either he is a liar or an idiot (or more likely, both). come out to HK and you can buy all you want at about 1% over the NYMEX price (with a $5 per-ounce bid/offer spread). you can do it over the counter with cash at a bank if you want up to 1000 ounces, and if you want quantities in multiple tons then there is the gold/silver exchange. you an walk into a broker with a seat with a wad of cash and they will act as your agent to acquire any amount you want. furthermore, HK has no import/export carry restrictions as long as the gold purchase is not a result of business (i.e. as long as it's not laundered money). HK is the best i've seen, but many other asian and ME cities offer similar services, just with higher transaction costs.
don't try to convince yourself or other gullible folks that there is some mysterious shortage of physical gold, and stop listening to fraudulent liars like the one in this video. i don't know what his agenda is, but he is not doing gold investors any service. if anyone buys gold on a false argument, he/she is sure to be the weakest hand and likely to dump when reality sets in.
Last night, I posted that the smackdown in Gold/Silver was too depressing to watch, and that I was turning off Kitco for the night.
What a difference 12 hours can make.
Are you kidding? I got a woody at the though of buying silver for less than $15/oz. Sooooo disappointed when I woke up this morning.
No I'm not kidding; but I believe you are.
Had you bought your gold and silver back when the prices were $310 and $5 per ounce, respectively, you'd be popping wood when the price goes up, not down.
I got in before $5 on silver, I still cheer when it goes down, the cheaper it is the more I can get for my set purchases.
Igot in at 6, then 10, some at 15, more at 25, a little at 40$ What does it matter when the SHTF!
I'm ready to be on the other side of the trade. I've been waiting over a decade to see this "Crest of the Tidal Wave" blow-off, at which point it will be time to swap PMs for land. Lots of land.
... I hear real estate's cheap in Ferguson, MO. Ohhh! (Too soon?)
Hear there's an Auto Zone for sale cheap....may need some TLC
It must of the been the Swiss National bank covering their shorts today...
your comment sounds sarcastic, but it's close to the truth. the snb would have bought gold if anything to hedge the "yes" outcome, but there were certainly market punters betting on a "no". they had months to build up their shorts (the decline in prices in the month leading up to the vote is telling of how traders were positioning), whereas virtually no one built long positions on the expectation of a "yes" vote. when all those shorts realized that the event they were waiting for didn't happen, some of them panicked and covered. the rest may not be panicking yet, but i do not think that they have all covered yet either... so absent any significant news, there will be some upwards pressure on the price until the snb trade has been fully liquidated.
yeah, and of course u cant have the only 2 forms of money recovering from phony paper raids without the fucking Dow erasing all its losses....
yeah - right.
seems 16$ and 1200$ is a physical buttom, they don't have enough paper to press it lower
seems 16$ and 1200$ is a physical buttom, they don't have enough physical to press it lower
There, fixed it for you.
I opened goldprice.org expecting sub-16. Was surprised at how quickly it turned around. It'll be back to the 20s shortly. Get some while the sale lasts!
As the NAS goes down. Algos have found a new playground....
all i can say is its about f-ing time. My account couldn't take it anymore! But seriously, this is unbelievable. Still climbing.
"My account"
Until you convert your "account" for physical, you should be less concerned about the "price" and more concerned about possession.
Oil going back up too...may hit $70.
yes there are still some accounts in the world..
you will be dismissed on here..
but after a hard battle i came to the conclusion.
Sprott funds and CEF are your best bet in paper metals , then miners..
If you want casino stock it's MNKD. If you want casino with a bimbo equipped with a strap on . It's MNKD options.
consult with any person with any type of diabetes what product would they prefer..what is available now or something better coming out near you in 2015.
Fill in the blank.
______ million potential users at roughly $2000 a year.
ok ok Sanofi gets a bunch.... buy them also.
And if you bla bla me about the market crashing in 2015 , i would agree, but people are still going to ditch the fucking needles.Good idea as any.Gl
Just $35 more bucks on top of this morning's $65 tear and AU breaks the 2-year weekly downtrend on the free futures chart. Been thinking of a $100 day in AU for a long time, and this is how it will look when it starts. See the 60' or 5 hour charts to capture this morning's action:
http://www.investing.com/commodities/gold-advanced-chart
When we see that $100 move in a day, its on like donkey kong.
Until then its just background noise,TPTB still have control, for the moment.
When the remaining longs want more lower and the shorts want it lower, it be going the other way fast.
The silver chart has been swapped out for the SP500 daily chart on any given day
Tipping point. Large US banks have lost the extortion game in loans for PM producers. The days of "we will supply the financing, you supply cheap metals, is over. China and Russia are takin over and they want prices up not down.
This started when COMEX opened. So don't get too happy it could just be the short covering. Either that or something big is on the way.
Some Asiam PM traders must be fucking pissed. Either that or they are putting the short squeeze on US traders.
Looks like a short squeeze across the entire commodity complex which had become very oversold. Squeeze will probably last a few days then downtrend will be resumed.
Everything will be sold to pay off debt in the coming deflation.
I'm surprised that's the record.
The real money is in the volatility....
16.72$ This is definately short covering, only thing is there's a lot more to come! Algos have turned!
How are your gold and silver positions zerohedgers? Oh you're just going in for more?
bahahahhaha
We don't call them "positions"...we call them "inventories". Sadly, most of which were lost in a bizarre series of boating accidents...
Most of us are very poor at the maritime thing
Smackdown in ...3...2...1... OK, who am I kidding? They'll wait for the NY close or hit it during lunchtime in Asia later tonight in the US.
When I decided to first get involved with PMs, one thing I understood clearly is that deflation would be a part of the process, and daily price swings all over the place would have to be tolerated when things started to really go south. Then when all else fails...it takes off.
All strong hands on deck, none others need to apply or show. White knuckle time.
History ain't repeating exactly, but it sure as fuck is rhyming a lot. I am impressed with how many hats and bottles they can spin in the air while they juggle, but this crap is not sustainable.
Yeas, those price swings will shake all but the serious gold bugs out of the tree.
I refuse to value my PM's in fiat dollars...what's the point of that? Isn't the whole reason I stack because I don't TRUST the fiat? So why would I listen to what fiat has to say now?
1st post to ZH, hello everyone from cold Yorkshire UK. My sentiments exactly, PM's for protection, not for some crappy yield to offset the rate we pay on however much fiat is printed....but try telling my parents and in-laws that, yawn.
Welcome on board Minder For Priapus. This seed has a long germination time, and it is best sown slowly in measured quantities. With time, you will probably find that the seeds are sprouting afterall, and people come back and ask you about what it was exactly you were raving about one or two years earlier, when they ignored you and rolled their eyes. That is my experience anyway.
Funny you should say that. In the last few days two of my my formerly eye-rolling workmates have asked me quietly how to go about decreasing their 401K exposure and <<gasp>> stacking some metal. They seem to be spooked by the oil price drop. Starting to think maybe my disjointed ramblings about central planning eventually losing control maybe have something to them.
When they start asking about battle rifles, then I'll know it's really on.
Saudi loves au. they are punished by selling crude oil low and they must sell lots of oil to purchase au now.
Imagine how a reverse OPEC could sanction and bring down the banking cartel's fiat currency scam: An OGIC - organization of gold importing countries - this morning's $67 AU tear could be termed the Rothschild rip. See the hourly or 5 hour screens of the free live future:
http://www.investing.com/commodities/gold-advanced-chart
Would you look at that, WTI is up 7% from its low in AH. Must be "real" demand driving up price to save the US shale dreams. FYI, House of Saud can afford to go full retard as they do own and hold a lot of gold, not the paper gold we see pimped all day.
What happened? Did Israel finally get fed up with talking to the Iranians? 6.06
I have been holding my hoard through the whole downturn. This is my 3rd ( or is it 4th) downturn while owning gold. It is a welcome sign to see the chop rather than just large down days. I think we must be getting close to the end of the 3+ year drop. Gold c/b up for the year by the 31st which would distroy a lot of journalist stories about second year down for gold.
Let me preface this with the fact I am not engaging the trolls...I am also not doing the happy dance. I stand pat.
I remember reading by the various sentient and knowledgeable posters here that wild swings would be the harbinger of a market bed shit.
I think we are seeing that. My Au cost basis is about 1450 and I no longer get emotional. A smart investor spreads things out. I have stawks, no bonds, but cash and of course metals with the vast majority of my savings are being placed into my advanced education. It should serve me well and lead to opportunities as I am highly employable and I will be able to work from anywhere in the world and just in just about anywhere in the world. My spanish speaking skills will also be upgraded after I get done in about a year. That being said, metals are merely insurance with some implications on savings and control. Do not listen to these, probably paid, posters who come with their obfuscating thoughts on giving up gold. To rail against gold is like saying you will not take insurance on anything of worth like your home and or car yada yada yada.....I buy a little here and there and will continue. I see bad things on the horizion. I think a valued comment section has voices from both sides, but shills can suck it no matter what they posit and try to sell. We all know that we are due for a mega-shit collapse of the current system and my metals are insurance like Mr Winchester under the bed. It may hold out for another year, decade, month or whatever, but it's coming. I appreciate you all who post great stuff and provide me and others with a varied conversation on our protection. So...carry on and keep up the good work. I thank you for all I have learned.
Just sit pat Rebel; the best is yet to come at a time when the worst will be happening!!!
Janet is doing her Hanukah shopping online today. PMs for the kids, oil for the grownups.
Regarding the Swiss and the EU... so the Swiss decided not to adopt the EU currency... they're reward?, their central bank ended up being the only one in Europe that could legally buy Euro debt... so ironically, the country that decided not to join the EU has ended up being the largest de facto member of the EU in the world. In other words, who cares what the citizens decided? The central banking cartel needed a fix and Switzerland was the only country available; the public be damned when large banks need to be purged of toxic debt. All of Switzerlands history of financial prudence and all it gets is a metric fuck-ton of toxic european debt.
Funny how a lot of elections work out that way, or as the old saying goes, It's easier to fool people than to convince them they've been fooled. But what else can it mean to subordinate your sovereign currency to another, then bloat your central bank balance sheet defending the peg?
Still looking for a catalyst
Algos- Catullus
could it be someone , somwhere(in summertime) failed to deliver?
Were not quite at the mania faze in the US. I feel if we were, people/sheeple would be making it a topic of discussion besides shit sports, movies and meaningless other slop. I have at various cost avg, but if it's gonna be insane over spot costs or not available, who cares for us who took the time to accumulate and get ball bated overtime.
And what's the news? I was fully expecting a pimp slap on gold/silver today w/ the justification being the Swiss voting down their referendum...
The Catalyst is that the powers that be were VERY WORRIED about the Swiss Ref. so they spent a lot of effort in pummeling the PM's for the last few months!
People own physical gold and silver as a hedge against the ongoing global debasement of fiat paper currencies in the world. However, for people that own paper gold and silver, they will be settled in cash at the very time they will need this protection.
Fair and normal markets.
/sarc
I'd settle for fair. The new normal is a drone steam roller being run by a guy or gal who is NOT your friend.
Blue horseshoe loves silver bullion.
Blue horseshoe loves silver bullion.
lol
I have three PM orders placed between Friday afternoon and 9:00 Last Night - and then to have this happen -- am I happy? No Way -- now I wish each order was for even MOAR!
Could this be 'Putin's Revenge'? Maybe Putin and his oligarchs walked in, bought a pile of PM futures, and announced he is standing for delivery!