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Gold Breaks Key Technical To 3-Month High, Silver Surging
The last 3 days have seen precious metals surging. Silver is up over 7% - its biggest such rise since Aug 2013, and Gold up 3% - its largest in 4 months. Volume is heavy also. A specific catalyst is unclear but USD weakness is being cited, weak macro data suggesting further easing, China demand ahead of SDR-backing, and finally the realization that the Chinese shift to unconventional monetary policy (LTROs) is a slippery slope to full-blown QE from which few (if any) have ever escaped.
- Gold broke above its 200DMA at $1209.60
- Silver broke above its 200DMA at $17.23
Charts: Bloomberg
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Could it be that word is out that someone is trying to corner the silver market?
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... www.jobs-review.com
Will your sister's friend stash my gold for me before Jade Helm hits?
Fock you, fock yoy, fock you JP Morgue.
Eric King: Now those are some fantastic charts (tears up a little).
If anyone is acquiring gold or silver this is a cool little program I use that helps me buy dips. It gets more aggressive as the price drops and is certainly better than dollar cost averaging.
my prediction, trade mostly sideways tomorrow, then the monkey will find his hammer late sunday/early monday. Im doing my next purchase on monday....
Fiat is dead.
Yeah, but WHY did you put the paper bag over yer haid again?
Maybe JP Morgan buying all of that silver, while prices were down, are now driving them up? (Makes sense to me)
Did someone trip over the plug and kick it out of the wall? They better be careful, the vacuum tubes take a while to warm up.
Last week you said tou were making $7,800 a week. Did you get a new job?
you know, you have the 1st amendment right to be here posting this stuff - and I fully support that right - but, on the other hand I also have the same right to tell you to get the hell off this site and stay the hell off this site and go find a billboard
Actually, first amendment doesn't apply to privately run sites. Up to the ToS and Tylers discretion.
The person you are referring to isn't even a person, it's a bot.
Bots have right to attention too.
Somewhere in the Obama-Care legislation, I guess.
;)
Butterflying. Evryone knows you are a pathetic liar that sold their soul in the hopes of making a few bucks. Hopefully despair will prompt you to "off" yourself before you reproduce your genetic code, or any remnant thereof.
your sister's friend? yeah, i fucked her, and your sister.
In fact, he look a little familiar from the back side.. :)
What does buying paper have to do with corning the silver market?
Has more to do with the dollar falling than anything else I think.
Which might be causing some shorts to cover added in.
how about the global bond rout ?
It's all bullshit until the paper market fails, period. The rest of this shit is just noise created by the same asshats that are controlling all the markets, making money by pulling traders from long to short and back again. Disregard the price of gold & silver until they start making large sustained moves in excess of 5%/day. That kind of volatility should be indicative of a breaking market. "should" being the operative word in that sentence.
Monkey, get your hammer.
Red sky at dusk, the Hammer Man comes tomorrow.
It's M.C Hammer time!
Silver is having a fire sale, it's just taking a while for people to realize it.
https://www.youtube.com/watch?v=H0d_bKXWIiE&index=80&list=PL48jT3yBFRlEk...
B..B...But...but Martin Armstrong says that monkey hammering is just normal market activity and.... and that there is no man... manipulation and
Set it up , just to tear it down again
Probably paper shenanigans and bot algo rotation and churning. Hope not, but likely.
Precious metals won't get a real bid until the paper castles in the sky burn and rain ash.
Yeah...wake me when Gartman announces that he's pleasantly short miners.
If it's not "since Lehman," it's not a surge.
Off to the races. My feel, central banker cunts are being cut off at the claws.
I'm long Gold (monthly stacker) but one swallow doesn't make a summer.
For this market to move from its tenacious bear market into bull, it's going to have to do a lot more than rise $100 or so.
Sorry. I'm going to keep a calm head here.
How many times have we heard about "gold and silver breaking out"? I don't think this "the time" yet. There's more fuse to burn before it hit the detonator.
I must say, on my long journey into micro and macro economics, I HAVE noticed one thing. People don't like grey areas. Everything is binary. If you buy some gold and/or silver as part of your investment porfolio you are a "goldbug" and in the same class as a stacker. If you have some investment in stocks, you are a keynesian who has fallen into the "paper trap". This is what I am trying to avoid. It's very easy to get caught up in all of that horsewank.
Ultimately, I am strong gold and silver. But I'm keeping my perspective clear. This will just be a minor rise before it gets slammed again by paper precious metals....
My stacking strategy has been simple, gold at 1150, silver at 15.50 are my buying times.
Probably yes. If I see a 100 bounce I might get less than completely bored.
It's a positive sign for sure.
Harry Dent said it earlier that there will be a rally to over 1300 if I remember correctly, before declining again all the way down to sub 1000.
helluva call for a guy who has been calling for $500 gold the last 5 years.
I'm not calling for the bull market resume overnight, but clearly w/ the shitty economic data coming out there will be initiative for the dipshsits at the fed to start QE4/5 sooner rather then later.
Dent, Gartman, Nadler, Christian, etc....all a bunch of fuckheads who know almost nothing when it comes to precious metal supression and paper manipulation.
Until we see $30 silver and $1500 gold, there will be nothing to get very excited about.
Harry Ayniss says that it'll never go below $1,000 again...
No, no, no, no!
Precious metals need to go lower. I don't earn much money. Head for gold at $10 and silver at $0.50. For at LEAST a year.
All I know is we're not paying enough for gas!
Focus not on its price but on its value.
(PS the price is most obscenely rigged, in an era of obscenely rigged markets)
MY SCREEN SHOWS GOLD $2000USD and SILVER $50USD.
Then I'll sell you some gold for $1920, and some silver for $49.
Act now and it's free shipping.
For that price, free shipping and a blowjob, maybe
fake out
It's going to $700
Excerpt from Jon Nadler's book "POG went to $1920, and how I missed it."
Cool... two for One Sale...
Rather buy Picasso's.
I am more inclinded to sell Picassos right now.
I'm pretty happy with my stack currently. Let the prices do what they may.
could this be a flight to safety?
ie. getting out of paper including bonds and into PMs
As long you can buy gold on margin (paper gold) the paper roaches are in control of this market, down AND up.
So just ignore them and buy the phyzz...
The 200 DMA for Gold looks more like ~1220. But the point remains.
Maybe the new physical exchanges around the globe are starting to counter the manipulated central bank paper exchanges.Nothing like counter-balance.Have you heard BitCoin,well now there's BitGold.It's on the TSX Venture,symbol XAU.Surprising that nobody grabbed that symbol before they got it.
http://business.financialpost.com/investing/bitgold-begins-trading-on-ts...
http://www.bnn.ca/Video/player.aspx?vid=612913
Not sure if video came through from BNN,sorry.
Dude, backed by "George Soros"...sounded promising until I read that part...fucking creepy bastard has his little dirty claws in everything.
Obviously, by association, Sprott is a zio too, just like Soros.
Another one for the lamp post.
Got some a few more when spot was 1180ish a few weeks ago. Just will keep buying here and there current spot is irrelevant.
Got some a few more when spot was 1180ish a few weeks ago. Just will keep buying here and there current spot is irrelevant.
I like seeing it move up but can't get excited over $17 silver. Up is better than down, so YaaY, I guess.
If it can hold its gains to the weekend, that would be something new.
Did you buy it at 30 like I did?
Yes but also at $7, $11, recently at $15ish, etc... It's number of ounces that mater...
Yeah I got in the game late, I don't really care what the price is but it still stings a bit but only because I could have had more.
Yeah..I could have won the fucking lottery....or been born in a time when people werent enslaved by paper chains.
I didnt...im happy I have a stack though...
Stack on.
RIPS
Some, but only a few fancy pieces like 10 oz Aussie rounds, I glommed my core position in maples at $10.42 during a dip in '07.
With a premium they were 12 something..
What happens here (domestically) is Irrelevant for gold & silver. And be happy for that, because if it wasn't for what Russia & China have planned, you really would be better off selling it all. Be patient. The U.S. is nowhere near done stirring the shit in Ukraine or the South/East China seas. Let U.S. foreign policy be your guide; not the Fed, the BLS, the LBMA, the Comex, etc.
But that's always why gold matters. In a hyperinflationary scenario gold is worthless to the people within that nation as a currency, it only matters because it's still worth the same amount in someone else's paper money.
We won't really know what it's 'worth' until the action begins here. Regardless of hyper-deflate or hyper-inflate, people will be looking for value and portability. No one alive today has ever known U.S. currency to be in a terminal state of decline, headlong into worthlessness. But from history, we do know that we're not 'exceptional' in the context of what generally takes place within a nation when its currency begins to spiral downward in value. That knowledge in and of itself, is adequate to prepare accordingly.
Every time ZH runs an article about big increases in gold/silver prices I go take a look--and they are horribly below the close to $1800/ounce I last paid for gold and the $36/ounce I last paid for silver--and when I paid these prices ZH posters kept talking about gold/silver prices were going to keep going up.
USD is not something reliable for measuring value of silver nor gold
If I take the perspective of an intermediate term PM bull, I am encouraged by the comments that I see to this article.
I see a good mix of skepticism and optimism regarding future PM pricing and CB meddling - coupled with strong fundamentals, and increasingly strong technical’s. In the past, patient longs have been rewarded in these situations.
I know, I know, we have been here before. But to those that say it is not different this time, consider the following:
1) There is massive and growing distrust of CB's that is even making it into the MSM (that did not happen as much before).
2) Even historical bastions of financial conservatism, such as Switzerland, have recently been highlighted in the media for QE antics like abandoning the once sacred Franc and propping up equities - not too many years ago, these things would have been labeled "financial irresponsibility" by the Swiss. Also the much touted and arguably rigged referendum on gold ownership there created a new sense of awareness worldwide.
3) Greek default (whether or not it results in Grexit) is now virtually a done deal, which further calls into question "the doctrine of CB infallibility".
4) Even the technicians have to admit that the weekly chart (more favored by long term trend followers) for Silver looks suspiciously like a long term double bottom, with a slightly higher second bottom. The recent 200 MA penetration that ZH highlighted was accompanied by high volume.
Call me a romantic, but my old fashioned nose is starting to sniff out the beginnings of a "wall of worry" for PM’s that every bull market needs to climb.
Precious metals have some short-term upside, at least a few months, but the downtrend will continue when it is finally realized that the stock markets are succumbing to the deflationary vortex getting underway...
http://www.globaldeflationnews.com/gold-elliott-wave-update-for-week-end...
duplicate
Why would anyone care what is silver value in dolar, when valuing silver.
You can look the other way maybe, yes you can see what is dolar worth in silver. And you can see if dollar is dropping dollar is going up, buy you can't say silver is going up or down, only becouse XAGUSD is moving.
Checking what is silver value becouse usd/AG is going up or down is TOTALY wrong. Same with gold.
If you really have to value silver in dollar you must take into account USD_index. To see something relevant use: XAGUSD / USD_I, anyway valueing money in fiat money seems like a loony idea.
XAGUSD on it's own means absolutly nothing!