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Turmoil: Gold Surges As Bond Yields, Crude, And Stocks Are All Collapsing
The kneejerks are over and now the fallout. US equity markets have tumbled back to yesterday's lows (and beyond), US Treasury yields are in total free-fall (down another 10bps, led by 7Y and 10Y yields crashing). Crude prices have reversed the entire post-SNB surge and is heading back to yeaterday's pre-ramp levels... Gold is pushing notably higher at $1265
Lagarde's comments on being uninformed about the SNB decision make it clear that the world is turmoilinmg...
Crude...
Gold...
Treasuries...have collapsed sicne the Dec FOMC...
Stocks...have cratered nack top Dec FOMC levels...
Charts: bloomberg
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yes, the bottom is in!
Gold has now broken through both it's 3 year down trend, and the 200 day moving average - here we go!
The gold action is interesting. I think the reality of central bank creeping malase is beginning to dawn on people. Gold in Yen or Rubles shows exactly the true situation.
Never fear... the Plunge Protection Team will be riding to the rescue shortly.
The Plunge Protection Team is to busy compressing silver
And they look like they just completed a double triathlon.
Silver is a separate issue. Though it is 'poor mans gold' it is also heavily used in manufacturing. Its a great lead proxy for manufacturing (and oil). The price plunge has more to do with manufacturing, showing its huge decline, why this is rarely discussed either shows epic ignorance, or purposeful misdirection ( or both).
Regardless, the value of gold and silver seems to have remained rather constant on the barter/grey market.
If it was so separate this overlay graph woudn't overlay.
the PPT is busy smoking crack....
Shiney Metal Element 79 Formed By Violent Neutron Star Collisions To $3000 (Short Term)...
But is the realization actually happening now, or will it face a couple down days as they try to 'put gold in its place'? NUGT is up 18% as I type this, to 17.10. I bought in at 12.50 a while ago, never intending to hold it this long, and it was painful watching it drop under 10, but now I'm up over 30%. Sell or hold, sell or hold?? I know whichever one I choose will be the wrong one.
.
Do you know how many times we've heard that before? "To da MOON!" Blah, blah, blah...
Gold prices will be crushed and then, if necessary, CRUSHED AGAIN.
Until one day it can't be done anymore. I don't think we're there yet...
Nah... It's going to $650 - didn't ya get the news...? Oh - and Ukraine? That's all hyperbole... $DX 120 for several years...
"Gold has now broken through both it's 3 year down trend, and the 200 day moving average - here we go!"
Here we go? How about when GOLD stampedes through the $2000 barrier and doesn't look back?
For gold!!
anybody checked out this news?
http://www.theguardian.com/world/2015/jan/15/three-killed-belgium-counte...
Someone who sold CHF to buy $140B in USTs last year took the gas pipe, but forgot he had just put some bread in the toaster.
it is a terrorist attack and few people were killed, the same guns used in the previous attack in the french capital a few days ago.
Given the currency maelstrom, one would think any stick save would have to involve a VIX slam or, perhaps an RVX slam, given the Russell, as I mentioned earlier, is the only index close enough to a key DMA (the 200) today for machines to mount a defense. It'll trade thru this key level at the next leg of the plunge. Often, it likes to pass thru key levels briefly to vacuum up the stop orders, then boomerang back, but any sustained breach would likely trigger many machines, and their long-lost cousins, to join in the carnage.
Failure to hold "key levels" means your math for finding them is wrong.
the sell off lasted all of about an hour. the fed stepped in here and starting buying spy. look at the v up pattern at 1pm. agree though bottom of the mkt for 2015 is in. the fed is not going to allow the "genius" equity index dump below 1995. god bless the swiss.
Can our markets just break already!!! The wait is killing me!
we just need a housing crash to get this ball rolling so that we can reset everything. Housing prices are just plain stupid at these levels.
The problem is that they are at levels where supply and demand sets them. Yes, inflated some by ridiculously low interest rates but that's about it. If interest rates go up (unlikely in the next X years) prices will adjust some. If incomes go down prices will adjust. If people can't qualify for the loans housing prices will go down. Otherwise, people will buy in the best neighborhood that they can for as much as they can.
Take away laundered Chinese money and demand does... wot?
You left that part out of the NAR script.
FAIL.
No I didn't. Prices are set by supply and demand, like I said. If you thought that I was posting a comprehensive list of all demand variables I wasn't. Just a few examples.
Supply and demand are misreported using fraud so no, that doesn't set the price.
When the Fed Reserve wants the gold price to move they figure out the number of tons required to do so. Then force the number in. No supply is added or removed. The number is changed with zero ability to deliver. Zero.
If they say 400 tons new added to the market it didn't - 400 was added as a number but no demand existed and no supply was added. None.
It's all fraud.
Just like it was in 2008 - all REGIONAL.
LOL....comic post of the day.
I'll partially disagree. Supply bottomed Jan 2013 and has been rising since.... Just like 2005/06. Prices have been set by hype and the FED buying MBS. Incomes never recovered.
You talk about everything except what matters: wages.
Supply and demand only work in freely traded markets. In manipulated markets, price discovery is vitrtually impossible and prices are, therefore, highly distorted. In today's world every market is manipulated. Some, such as the PM markets, more than others. So, the true price of gold for instance, could be $50,000/oz or $5/oz. Same for the price of a house, oil, corn, etc.. Someday soon we'll find out. Until then, the best we can do is guess.
they are not stupid UNTIL i sell my McMansion. Then they can fall.
NoVa
We turmoiled some folks.
What I find interesting is the way Silver's being checked. Can you imagine the phenomenal amount of paper shorts being thrown at it.
Say what you want but IMHO, Silver is the real achilles heel in the metal's markets.
ain't worth a whole lot. I'll take mine and make some cheap ass jewelry with it. Or make a silver toilet.
Ass jewelry? How/where does that attach?
On that skin tag down there next to the chocolate starfish, otherwise known as an external hemorrhoid...
Lol Either you work in healthcare or suffer with this.
Ouch!!!!!
Ouch!!!!!
Expect a MAJOR sell-off in gold tomorrow. The central banks must CRUSH gold.
Not that I want that, of course. But history repeats itself and central banks can't stand competition with the markets and/or housing prices.
Nope. I do not think so. I think we are past the day to day shananingans of the banksters regarding gold. They have much larger problems to be concerned about and the price of gold or other commodities are way down their priority list. Right now Draghi QE and Greece give them a full plate to deal with.
Draghiwill have to bailout Greece forever. Only way it's is if these countries are ousted.
Can't integrate a deadbeat country.
Yeah, look what their doing to bitcoin.
Posted 12:50 and DJ at 17298
Now +80 points.
ZH strikes again!
I guess that I am old fashion, but..................
I take the value of one's country'ss currency to be a report card, a source of pride, a testament to the virtue, probity and hard work of its citizens. This notion of competitive to me is immopral, AND ineffective. It is total BS. It is surrender to temptation to play games and not stand tough in hard times.
Having said all of that, the Swiss franc soared several years ago. Instead of taking that as a compliment - a global affirmation of its virtue - the Swiss promtly started printing to peg its fran lower. I guess that I am wondering why the Swiss didn't view it as an opportunity to cash in on their hard work. You know.....by printing lots of francs (as they did) and BUYING F&*KING GOLD.
Had they done that, the franc would probaly have gotten even stronger - contrary to their objectives and probably bad for exports - but they could have been clever and used the increasing strength to subsidize raw material imports for their manufacturers. Why didn't they ring the cash register instead of playing Bernanke's game?
They had the opportunity to do the inverse of the American thing - issuing new debt to buy back stock. They might have been able to back their currency one for one with gold, and have incredible price stability. You know - stability - that for which the Federal Reserve exists and has failed at so miserable for each of its 100 years in existence.
Bitcoin $221
LOL.
"The block chain is unhackable."
LOL.
Funny?
Hilarious!!
It has been time to buy gold and silver for months now. I've been at it for 16 years now and I think I know at least a little bit about those tiny PM markets by now. I just want that property to sell and then I am going to go lay waste in the world of coins. I see upside all the way on PM's but I am biased. Some people think that PM hoarders always want the price to go up. Well, sometimes we do but sometimes we don't. We want buying oppurtunities and this latest stretch has been one of them. Fuck GLD and SLV because that is just digitz. Stack it.
All the same, my dream of owning every single U.S. silver dime ever minted is dying but that is OK. It was never realisitic anyway but I did stack. There are tubes of dimes on the shelf above this computer that I have never even opened yet. I noticed that it is getting harder and harder to find U.S. silver dimes. They are out there but it is not like it was just a couple of years back.
A shitload of dimes.
I did go back and get a shitload of dimes. There is still time for all of you to go back and get a shitload of dimes but they are getting expensive these days.
+1 for the Blazing Saddles clip.
You see Slim handle that horse with 1 hand? That's da shiz!
I am glad you liked that clip. Blazing Saddles was a classic movie. Not only the dime reference but for the fact that the .gov put up a toll booth in the middle of nowhere. "What'll that asshole think of next?". That was quite the premonition. I still laugh every time I watch it.
I have probably watched it a dozen times or more - a true classic. And yes, I too still laugh every time I watch it. Slim Pickens and Harvery Korman really played off each other and stole the show as far as I'm concerned. The writers must have had a great time dreaming up some of the dialog haha.
Doom boner - rock hard!
Crude just gave up $1 in 23 minutes. Is another shoe about to drop?:
http://www.investing.com/commodities/crude-oil-advanced-chart
Central banks are not omnipotent. Mainstream morons are being forced to realize the obviousness of the truth... and gold is the barometer.
Like I said, buy gold, the technicals were pretty convinving! http://razorsforex.blogspot.com/2014/11/gold-ready-for-trend-change.html
Pretty clear that Draghi is going to do something, which will end up trashing the Euro, so the Swiss felt they had to get out ahead of the curve. The big question is deciding what will happen to gold, oil, and the markets when EU-QE hits. Should boost oil and markets. Not sure about gold in dollars.
Can someone intelligent explain to this ignoramus why Gold rallied so strongly on the back of the SNB move?
I don't get it!
Loss of confidence in the Euro. Eventually, it will spread to every fiat currency. If you were holding fiat Euros, and had just been ambushed, you would be buying gold as well (if you understood what had just happened to you).