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Gold, Silver, Copper, & Crude Are Soaring On Heavy Volume
Dollar weakness continues (after weak US Services PMI) which has sent stocks to new record highs but it is the China-QE-driven commodity complex (along with Aussie and Canadian Dollar) that is in outright vertical panic mode...
And the move is on very heavy volume...
Gold is nearing $1200 once again, Silver now well above $16, Copper surgiung over $275, and WTI Crude testing $58 (2015 highs)
And commodity currencies likewise are soaring...
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When considering catalysts, perhaps it is worth noting the relative buying began in the Asia session as China QE hints were dropped... it appears people remember that the thing China buys a lot of after it generates inflation is gold and if indeed China QE is pushing stocks higher then gold (and other hard assets) is up next.
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But, but, Oil in the $20's. What happened?
oddly enough bitcoin is freaking out at same time too.
I'm sure there's lots of physical changing hands in this price "surge".
WAHR!!
When should I start panic buying?
As soon as possible. It's never too early to panic buy.
put your dick back in your pants fool.
I bought some SLV and PHYS last week, but was hardly in a panic when I clicked the mouse.
Happy with the decision.
It's all on paper, and by the end of the week they'll be monkey hammered down.
Speculation, rotation, churning. There are no markets, only algo washing machines and dryers.
Makes one wonder who the "feeders" are here...
How about Citi buying 1 billion dollars worth of Gold from Venezuela?
http://www.kitco.com/news/2015-04-27/Venezuela-Gold-Swap-Positive-For-Th...
edit: Citi gets the Gold for $700/ounce in this deal. Now just what do you think Citi will do with this cheap Gold???
Did Peter Munk broker this deal?
physical = barbaric
They don't call me a barbarian for nothing!
I dunno why ZHr's are always hatin' on BTC so hard.
But, obviously today's meme is "the dollar is shit".
It'll probably go back to 'normal' tomorrow, though.
after a lifetime of fiat, personally, I've had enough of vapor value, thank you very much.
one word "phonystar"
Ah, but it's only short term, that's the tone at least, in respone to my daily BTFD comments since February...
Too many peeps here Party too busy fighting an emerging uptrend to even notice it's taking place it seems
And I notice, even now the disbelievers are marking you down Party... No doubt I'll get some come my way too, but I don't care, I've got the money :)
Hey Spreads, Down votes correlate to bankable $$. Bankable $$ converts to PM's. Well, and bar tabs.
Sure enough, (raises virtual glass to Party) and buys some more of the DAX for good measure
Cheers!
lol
they can't short the hell out of all this and collect more shekels until all the longs are in, heavily in, better payday.
But, but it's expiration week. This can't happen. It's not allowed.
Gold up almost $20, Silver up over 50 cents
What's not to like?
Gold capped at the bankster ceiling of 1200.
I just shit my pants.
Janet, is that you?
Soaring? Panic mode? The sensationalism is getting fucking ridiculous.
GAP'T (Gold Ascention Prevention Team) will be hard at work today and tomorrow.
It's a 4% move in silver, man! This is the sort of thing you only see once or twice a month!
Usually twice per month. 4% on the way up, and then 5 to 6% on the way back down.
That's how the bastards get 'cha!
I have a screen shot of a gold quote from months ago printed out and hanging on my memo board. Whenever anybody asks me what the price of gold is, I just read it and tell them it's $1200 an ounce, same as always. Hell, I won't be off by more than $50 in either direction.
Personally, I quit giving a fuck as the world continued to print, debt continues to soar, and the gold price was forced down from 1900 to 1200- 4 years worth of this shit.
It takes a special kind of resolve to just keep buying. It takes even more resolve to remember that PM's are just insurance- the truth is if the world wakes up and we see 5k gold one day- imagine what the economy will look like then. Thunderdome.
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What he said.
"It takes a special kind of resolve to just keep buying"
Or a special kind of stupid. I'm hoping history records me in the former, not the latter.
That's what zerohedge is all about. They're wrong on almost all their articles. Just look at the stuff they wrote the past 5 years. They're the stopped clock right twice a day. Nothing but fear mongering, hype, doomsday to cater to the small niche of people who believe the nonsense. Meanwhile the writers on zerohedge make tons of money off this small niche of people through advertising etc. And I'm sure the money goes into their big fat bank accounts they hold at bank of America that they criticized oh so often. The hypocricy is astounding.
In b4 down votes and doomsdayers calling me a sheep and all their other cliches.
No, you make a good point about some of the headlines and such. It is over the top and hurts the sites overall integrity.
Where you are dead wrong is saying that ZH hasn't provided really great analysis on the markets. The latest series on the CFTC and spoofing is just one example of hundreds, of well presented articles.
Edit: So, you've been here 22 weeks and make comments about the last 5 years? Interesting.
I've viewed zerohedge as a non-registered member for years. I'm not referring to analysis of the market that is subject to debate.
So here's the deal Big Thinker aka vexrizer.
For 74 months we've had to put up with this insane economy- QE ad nauseum, ZIRP, everyone lost their good jobs and those jobs were replaced with lesser paying, shitty, part time jobs. Our savings are shit. In the meantime, government bailed out the health industry by trying to force every one back in- while using every trick available to shore up the banking crooks and their bankrupt balance sheets and oh btw....giving them all a get out of jail free card.
What gets pointed out here isn't fear mongering or doomsday writing. What lands here is absolute frustration. The readers here know this economy is all based on bullshit. We know this whole fucking mess is nothing more than a charade including that 18.2 trillion debt that has been conveniently ignored for 74 months.
So while your side is winning know this- smart guy. All debts get paid. And when the bill comes due for this charade, pay back will be a motherfucker. I'll be looking for your optimistic thoughts then.
Not everyone lost their good jobs. That's false. I never said anything about the illegal actions of the banks. It is obvious fearmongering of the likes of turd, peter schiff where everything is bad and those two have an invested interest in convincing this small niche of people to buy gold or pay money to read my article. Perma bears are just as bad as perma bulls.
The readers here have an opinion based on the economy and it's always negative -- they're single minded.
All debts do not get paid, hence bankrupties and defaults.
I don't know where you live but the economy is fine where I am. Plenty of jobs that pay 50k-80k. There's tons of hiring signs around town. The housing market is revitalziing.
But everything about the economy is negative to you. You're a pessimist, I get that. Anything written here is like gospel to the small niche who sit on their computers believing without skepticism that everything zerohedge writes must be true.
All debts do get paid, by the debtor or by the lender. In the case of bankers, the taxpayers picked up the tab. Bankruptcy- creditors pick up the tab.
I'm not a pessimist. I just hate bullshit. 73 months worth.
I wiill ask you the same question I ask all bullshit believing "optimists", How and when are we going to pay back the 18.2 trillion we owe? If this ecoonomy is so fucking glorious, why do we need ZIRP forever? Where are these big surpluses this glorious economy is generating?
Yea I thought so. Answer- crickets from the optimists.
Good lord, why do you spend any time here if you think ZeroHedge is such crap? If I thought that way, I'd spend zero time here.
Soaring? Use that adjective when the price of gold is up 100 an ounce or more- or silver is up 2 bucks on the day...otherwise its the same old bullshit.
Zerohedge has to make everything sound sensationlist and blown out of proportion. It makes the little niche of perma-pessimist people on the economy feel better about their one sided perspective. To them nothing is ever optimistic about the economy. They're being played like a fiddle while zerohedge laughs all the way to the bank.
its a great time to short gold. Shorting on all the rallies would have made you more money then if it goes to 3000...someday
What do you think that the 'Pump & Dump' gold shills are doing?
Would not be the least bit surprised if the ZH owners weren't playing that game too. It's not as though they lack the skill or means to do so. And judging by the ads, it's not as though they're too fussy about their revenue streams.
Speculate in PM accordingly. Remember that the usual Casino rules apply: 1. The House wins in the long run, 2. Don't gamble more than you can afford to 'burn'.
And since we've learned some time ago that EVERYTHING is manipulated and contained, just what exactly are we still trying to front-run or get mad about?
but if don't convert it to PMs, land or something real along the way all you'll have is piles of fiat for that fateful day.
and WTI dropped down to $56.80 shortly after this.
and WTI dropped down to $56.80 shortly after this.
Scared all the shorts away.
Now what are you going to do?
in 2 days, the fat cow will "shock the world" with a 50bp rate hike, which takes affect in June. bye-bye gold, silver, oil....and stocks.
She'll huff and she'll puff and she'll soil her bloomers.
Who, old Yellen?
Yes, I assume that's who he meant by the "fat cow."
Umm Interest rate hikes will be good for gold...but I have my doubts its gonna happen.
Dumb fucking asshole you are.
I disagree. First off, if rates were raised, I think PM's would do well.
Stocks might suffer dependent on if rates continue to rise.
But I don't see a rate hike at this point so I digress
176 days left until the Oct 20th IMF accouncment
Oooo! Placing that order for a new Z06 Corvette!
Don't forget your gold iwatch!
Naw. I'm going to wait for the iWatch to bomb. They will be giving them away in Cracker Jacks.
LOL
China's next QE might elevate gold back to $2,000 and silver to $50 again. People there are now limited on number of apartments/houses they can own and it's tougher to gamble in Macau, I think, so maybe PMs and stawks are their other choices.
Unless they buy out of country, I'm not sure if they can impact paper prices.
Unfortunately, China has more debt then they will ever have in gold, just the US. Where do you think all that printed money goes? It evaporates to service debt and ends back at the banks and oligarchs.
That is why you have no broad based inflation. All the money printed doesn't get into the broad based main street economy.
We serfs suffer deflation and stagnant wages. The stagnant wages are like inflation to us because even with very modest consumer price increases (like food), our wages aren't keeping up and we get squeezed. But if it were true broad based inflation, even a package of ramen noodles would be expensive.
the thing China buys a lot of after it generates inflation
Now we got a whole new ballgame... Lots and lots of info in those eleven words.
FED better look the fuck out...
Yep. They like silver too.
Yawn.........if gold has to rise then take it down before hand so the spike runs out of steam before $1200.
I get the feeling that they are papering themselves into a corner. We are long past the confidence jawboning stage, this bs is serious.
Barbarous Relic.
Just a tradition.
scared shorts imo. china qe will be designed to prevent a collapse moar than to spur new malinvestment.
"US to launch blitz of gas exports, eyes global energy dominance"
http://www.telegraph.co.uk/finance/newsbysector/energy/11563761/US-to-launch-blitz-of-gas-exports-eyes-global-energy-dominance.html
I was expecting "soaring" to mean gold is up $0.20, but it's up like $18 right now. That's interesting, but it's not unusual. Sometimes it goes up or down 1-2% in a single day.
Exactly, unless gold is up $50/session - or silver is up $1.00 it's not soaring.
PM bugs are so demoralized, a 1-2% gain is BIG.
I am a stacker. You just gotta be patient.
Silver is up 4.7% on the day. If it was a real price, priced in something real, I'd get excited. I'm just shrugging my shoulders at this; I really don't care what they tell me the price of silver is.
It's funny to feel like you made "money" tho.
On the 11th of this month gold was 825GBP. Yesterday it was 776 GBP. That's a drop of 49 GBP (approx. $75)in 2 weeks
What exactly does soaring mean ?
Tell that to Tyler.
And it better rise by > 10% per week, to call it "soaring. Otherwise it's like BTC fanatics talking up the stock.
Fed's Zimbabwe economics PhD style.
With gold still below 1200 this is a no news. A clear breakout above 1305, and then past support at 1520 might be a good start... Just more paper shenanigans at this point. The current pricing mechanism needs to break down to really change things round for good... Time will tell, but this could well be just another fake breakout, of which we have had MANY over the past few years.
+10.
three white soldiers on HEAVY VOLUME will be the tell...
Geez,
I can't believe how many of you take one day of noise to justify your positions. Gold, crude, and silver are still way down. With all the printing they should be at record levels and should have stayed there. That is the hidden message most are missing.
Hey, I'm happy whether it's up or down.
And it's starting to look less like noise.
The big question....Will there be follow thru tomorrow. We have all seen these one day wonders in gold, silver only to be reversed the next day. That will be the tell.
Been very rough on many of us here. We shall see.
What is left to expect with the Global-Zimbabwe-esque printing machine in overdrive?
Silver up to $16.41, gold over $1200. Fuck the banksters
Gold $1202, silver $16.44.
EOD close will be :
Gold $1214 up $34, silver $16.73 up $0.97
Bitchezzzzzzzzzzzzzzzz
That would be about right for a second move up off this pennant. That would be a nice day. 1220 is the next target though -- it's been heavily defended.
Silver Bitchez!
You can almost see this as a pump-and-smash setup by the PM manipulators. They took PMs down last week, and started the momo ramp pre-market today. No one expected gold to go up prior to a Fed meeting where they will talk about tightening - hence creating a short squeeze that the computers could take advantage of. The Fed will undoubtedly talk out of both sides of its mouth, so the Algos will get to spin FedSpeak anyway they want later this week. No way to tell what will happen to the price of gold later this week.
Dannit, I need a smack down!
It's up for a change, pumps and dumps notwithstanding.
I'll take it as a positive, for now. So, yay!
Oh Boy, This is Great!!! The way things are going, by December Au and Ag should be exactly where they are NOW!
Happy Times, Boy! Happy Times!
This cannot be right. I just made a silver purchase on Friday. It usually goes the other way after I buy. Hmmm.
I know exactly how you feel....this is working to my favor....something must be wrong...
The handiwork of the fucking cartel is not in evidence today.
Gold at $1204.60 up a stout $24.20 per oz, silver at $16.44
Families with children will receive their first gold from the government and the related Family Package regulation has been published and announced in the Official Gazette. It is a Turkish tradition that when a couple has a child, their relatives give gold to the new parents to celebrate.
http://www.dailysabah.com/nation/2015/04/27/turkey-parents-to-get-first-...?
>>>
Gold is nearing $1200 once again, Silver now well above $16
<<<
/sarc
So Gold around 1/3 off long-term high (around 1,800)
And silver getting up to nearly 50% off long-term high (around 40).
And (OT) will people please note that although the Greeks themselves might decide to get out of the EUR, neither Germany (because Merkel's dream is the United States of Europe) nor ECB (because Draghi will always get German guarantees to cover Greek losses) nor IMF (because they don't want the bad publicity) will force Greece out...and that ignores what can be brokered with Russia, or obtained (back door) from USA (to give up Russian influence) or Germany (also to give up Russian influence).
Watson
Yes gold and silver are cheap.
Momentum ignition.
Monkey hammer.
Repeat
Did someone cancel the oil-pocallypse?
Soaring? no, just the normal Crimex manipulation bounce back after settlement.