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Gold Spikes On Sudden $1.2 Billion Bid
For no good reason aside from the algos had their fun to the downside and crude ran its stops, precious metals' futures have suddenly exploded higher on heavy volume... The surge in gold saw approximately $1.2 billion notional traded...
Silver also surged...
Seemingly triggered by a flush of volume as WTI hit stops at yesterdsay's NYMEX close...
Nothing to see here, move along...
Charts: Bloomberg
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the european minister of finances ?
Nope, its the Irish Finance Minister running the short stops!
Thank you St. Paddy !!
Or the Chinese positioning in advance for the opening of their new physical market on the 20th of March 2015.
Also tied to dollar strength...imagine dumping dollars from your reserves with the "dollar rising"......hehehhehe..........perfect
then extrapolate to treasuries......and physical gold is accumulated while price is DUMPING......again......perfect.......don't ever preclude the Chinese from being intricately involved in the banker's goals.....just keep stacking
I like how gold is spiking to ever lower prices.
But silver shouldn't spike along side gold, should it? I mean, it's an "industrial metal" that is used in photography. If the economy isn't doing well, then silver should fall, right?
But wait..... team Odummer said the economy is doing good, so now I'm confused.
Did silver spike because it's an "industrial metal", like the blowhards claim?
Or did silver spike because the economy is good, like the .gov liars claim?
Or did silver spike - BECAUSE THE WHOLE SYSTEM IS A FRAUD AND ABOUT TO COLLAPSE?
Yes.
Tyler, what do you mean for "no good reason" lol. Plenty of reasons gold has spiked. Look at the article just before this one, and the fact that the dollar has plenty of air underneath.
Those are some nice, big fat green candlesticks on the gold chart:
Live Gold Chart: http://www.pmbull.com/gold-price/
And for those that can stomach the greater volatility, let's not forget silver, which is doing the same thing. More upside there:
Live Silver Price: http://www.pmbull.com/silver-price/
1140 Support/previous low - Technicals?
I would like to be on the other side of that call.
With Blythe now working for Bitcoin, and with a Gensler haircut imminent, Bernank can do nothing but party like it's 99...
LOL and down they go...
ZH calling the top again.
Silver is nothing more than fractional Gold.
Maybe it is fractional to gold in a purely monetary sense, but for practical purposes it is actually more valuable than gold. Like gold, silver is durable and it is rare enough to be precious but abundant enough to be used practically.
I believe that gold will eventually resume its rise to new heights against the dollar but that silver will spectacularly close the G/S ratio back towards historical norms.
"Silver also surged"
I don't know if that instantly validates or invalidates this move, but it means either one or the other, nothing in between.
I'm guessing neither Silver nor Gold has seen it's lows for the year yet, unfortunately.
Definitely quite a bit more room for PM's to fall........I'd definitely take the short side of any temp run ups in price this year.
GLL works as the Long for that.
Been working for me. Compounds the GLD losses on the way down.
Yes, talk about a sale on physical.... ...still hardly a "spike"...
so many paper claims....
tick tock...
With this and the oil shlump, I will not only back it up, I may buy some new gold rims for my Tonka Truck Hum V instead of paper.
[+1] I mentioned the same concept on another thread... #WEIRD
Yes. Nothing like forcing bargain priced physical gold on the rest of the world as you try to desperately save your doomed paper by holding the price of gold down at any cost. They've kept the general sheeple focused on "what weighs more, a pound of dollars or a pound of gold?" When the real question is "what has the ability to retain its value better after a criminal organization is put in charge of it for 45 years, gold or paper?"
Don't worry, TPTB will respond with $2.5B in paper shorts. And there's a lot more where that came from.
The Fed has made a Faustian bargain with the PBOC: they don't dump the USTs, and the Fed & Friends (Citi, GS, JPM) hammer PM.
After the Reset, when the US gets downgraded to just another Regional Reserve Currency, it will not be backed by gold but by other real assets.
Hedge and speculate accordingly.
What might those other assets be? If the holders of our debt come calling for real assets, what will be left for us to back any currency?
Why not just use real money that doesn't need any backing?
ANY real asset in which a population has "effective faith" (for commerce), will do. History proves that. E.g. Roman soldiers were paid in... SALT, hence "They're not worth their salt". The British Royal Navy ran on Rum, the Lash and Sodomy for over a century. Napoleon discovered that trinket Medals and vain Military Titles were a lot cheaper than titles of Nobility and associated estates. Still works today.
Although I am not opposed to gold as an asset (and have personally hedged with some PM bullion), and gold has certainly withstood the test of time (as a valued asset), I remain intellectually open to other possibilities.
Fact is... if a Currency can be backed by nothing but the "will and might of a government of a nation", then its sure as hell can be backed by something more tangible and valued in that nation. In the case of the former (fiat money) the lifespan of a currency is relatively short (some decades). I think we can all agree that the lifespan of a fiat currency is relatively short, but is longer when backed by real and valued assets.
The minute you accept that (at the intellectual level, if not at the emotional level), it comes down to "Define 'Valued Asset' ". In which case the list of candidates includes: PM above and below ground, Oil, Gas, Green Energy. Either individually or -- as I'd prefer -- in combination, i.e. as a "Basket of Precious Assets" that is harder to front-run or to arbitrage by Wiley speculators.
Both the US and Canada (the original NAFTA) have plenty of resources and space. Add to that a relatively well educated population, other natural resources (metals, minerals), food, forests, water, tech... and we're in fine shape -- IF and when we burn down the house of cards that is Wall St and its Ponzi scams, i.e. the true Latter Day Tower of Babel. Bye-bye Derivatives and Unfunded Liabilities! Crash the Banks and Save the People, or have civil war by doing the reverse.
and right you were...as of 10am it's been gettin' monkey hammered.
+1 for monkey hammered...missed that in recent ZH articles. Don't see anything like a surge at a daily chart so I guess it was just a 1 min chart blip.
Surge...yes...a Surge...with gold at a whopping $1,150.. In the long term this is great news for gold bugs but lets face it the book has been written on How to Manipulate Precious Metals.
In honor of St. Paddy, I will just be a Drunk Little Irish Boy and ignore the puppet masters for today - https://itunes.apple.com/us/album/drunk-little-irish-boy-single/id811586...
Just keep the flo of information coming and you'll do just fine.
I'm in disbelief.. i never in my wildest dreams thought that their would be market orders of 1.2 billion on the buy side. i always thought they were reserved for the smack down. Its getting weird
Although $1.2B was easily absorbed with little effect on the gold price.
Gold and Silver are REAL Money Bitches! (Believe it or not)
Will they take it at Jimmy Johns?
There won't be a Jimmie Johns when it falls apart.
There are no $1150 hookers, only $1150 johns, but I'm sure they'll touch it for you, if you stack enough on the nightstand.
Hope they're not done taking the metals down. I've been and will continue to be, a buyer on drops. On the other hand, I know these bullshit takedowns have to end sometime.
Spikes???
Tylers needs to stop looking at 1 minute charts.
Looks like the Fed will be more patient.
Could be a frontrun and then a collapse...again. Seen this show a few too many times.
OOPS, hit the BUY button instead of SELL button
SNB ??
checks chart to find gold up .25%
<YAWN>
SPIKES?
It's up $2.00. Lay off the coffee buddy.
Yeah, a week or two ago I see this gold sow wallowing in the mud doing nothing, I'm thinking that it pretty much is on a semi bottom awaiting the apocalypse, so I stacked more and it promptly dropped over $30 in an 8 hour period.
This is a spike upward? To someone that has been skinned it's not even a fart in Katrina.
Zh has/is one of the most useful financial information tools available but sometimes the definaitions of "spike" and "crash" are tested, thus testing credibilty.
It would be hard for someone to be hurting in the 4th year of a bear market in the useless yellow shit than me but lets keep it relavent. Stil long!
remember, 1.2B to the upside is perfectly normal. if this 1.2B was to the downside, it would have been cb manipulation.
Exactly...markets are manipluated. Now spell it with me M.A.N.I.P.U.L.A.T.E.D...there ya go genius. Spelled out for you.
It's the billions of buying in the physical world that doesn't have any effect on price..
Someone knows something
Silver soaring to.... $15.50.
I'll hit the snooze on that one, roll over, and go back to sleep.
A brisk bounce off the bottom of the channel that's been in place since July 2013.
The Leprechauns are buying today. The Tribe will be back in control tomorrow.
Meh...... Who cares? Gold is insurance not an investment. Gold will remain contained until all hell breaks loose. These little swings mean nothing.
I think its both. An investment against a certain Dollar decline.
The dollar decline is what you're insuring against.
Which is going swimmingly at the moment ~ lol
Fuck ~ With the strong dollar, you ought to be stocking up on REAL imported olive oil [LIQUID GOLD]
Argh! That damned collapsing dollar!
It's OK by me... Spend 'em while they can still buy you something of value.
Great, another "Spike" story. There just HAS to be some hidden click bait in here somewhere.
Putin's announcement comes soon.
Mar 20th is only 3 days from now.
fat finger
all manipulation
FOMC tomorrow.....buy then.
No. The trick is to frontrun the frontrunning. Wait for the pop 5 seconds before the Fed decision is released and then go short.
STFR then GTFO
Surged? Spiked? It looks like it swooned and then recovered all the way "back" to 1158 as of this time 9:08 CST. Just in time for APMEX's special discount on gold maples. The problem is, every time I buy on the "dips"...every F'in time, the price drops lower. So I am saying screw it. Don't save just enjoy and spend what you got, but avoid going into debt. Like Paul Farrell's article yesterday, I don't believe anyone anymore.
Believe yourself then. What do you think has more value........PM's or fiat currency? I totally enjoy recieving bars of PM's in exchange for small green pieces of near worthless paper..........regardless of how many little pieces of paper I have to trade. I don't think these sale prices will last much longer.
If FRN's really are an IOU or a promise to pay (debt instrument), then when I exchange them for gold does that mean I have to pay later or that the government actually owns the gold?
Of course .gov thinks it owns the gold. After all, they already own you and me, don't they?
You don't buy XAU during the day....You buy at night when banksters are busy with their hookers and blow....
I can think of lots of good reasons gold has spiked.
Baby needs a new pair of earrings
I'll throw the rabbid dogs some flesh since this move isn't much to be excited about. Alasdair Macleod interview on how the west will lose control of gold pricing beginning Friday and how HSBC may be selling off their gold vaults.
http://www.silverdoctors.com/alasdair-macleod-the-new-london-gold-fix-hs...
Only if you live in Utah. (Gold and Silver IS money here.)
tacky comment deleted
Omg 1.2b in notional value? WOW that's like $1m in intial margin!
"C'mon big spendah!" - Croupier :-)
The FED finally sees the writing on the wall and is forced to buy gold while the USD still has some value.
Just a drunk Irishman....like me....burp
Actually, I just bought 1 oz of physical gold & 100 oz of physical silver on SD Bullion. That's probably what it was.
Hmmmm. A move by PPT - but wait - its not our PPT
Soon - a rice bowl for everyone
They worked it down for an hour or two then <BAM> covered some older shorts. Everything is tightly controlled.
Until it isn't.
Paper gold is a tool like all the rest. 1 billion Chinese own it as savings. It is loan collateral in India. If you want Asia to spend, you run the price up. If you want a global depression, or you are just an ignoramus, you push the price down.
Happy St. Patrick's Day Bitchez!
What's in your pot??
I wanna know where tha gold at... Gimme tha gold!
Minnesota has 1000 lakes. Just sayin.
To be anal and what could I say about that, Minnesota has 22,000 "Lakes"
And all guarded by the Predator state bird ... or ice.
someone caught a Leprachan.....but then let him go..cause its back down again...lol
Old joke: A guy sees a leprechaun sitting on a tree stump holding his head in his hands. "Hey, are you a goblin?"
"Nah, I just got a bit of a headache."
Hey a pot of gold at the end of the oh shit...that's not a fucking rainbow!
Leading to a mini St. Patrick's Day massacre in GBPUSD and EURGBP. Thanks for fucking nothing - FLAT ON THE DAY.
metals are just barbous relics, get real, get paper
How exactly is it that gold spikes, yet when I look at the price it's down. Maybe the chart is upside-down? Down is the new up? That's it. In this fucked up world down is the new up.
HAHA What charts are you looking at - SPOT GOLD...
One of the Federal traders hit the buy button by mistake, Gold can't go up on Fed day.... Tisk tisk.
The inflation - adjusted value using ShadowStats of the 1969 $U.S. gold price fix of $42/oz., which has gone unchanged in the Treasury since that time, is $1154/oz. in 2014 constant dollars.
Tom's Inflation Calculator
New physical exchanges in the far east vs. corrupt London and Chicago paper fraudsters.China hasn't been accumulating gold at a record pace for no reason at all.
http://www.silverdoctors.com/the-mechanics-of-the-chinese-gold-market/
Gold surges tens of thousands of milli-Yen!
That's alot of contracts. Nice move. Clear buying signal. Fed announcing QE4 tomorrow?
Looks like the "Surge Protection" team is working over gold thoroughly ..
Manipulation.
Missing: Unicorn puking rainbow over a pot of gold.
And it is now down for the day. The "surge" is over. Haven't seen that happen before.
Apple just put in an order for the Watch(es)