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Gold Spikes Above $1200, Silver Over $17 On Heavy Volume
For now, no catalyst - as if one is needed in this market - but gold and silver prices just spiked higher on heavy volume above $1200 and $17 respectively...
Charts: Bloomberg
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Sell it.
I've stopped searching for reasons in this "market," but I'll take the rise.
Bought gold at $273 and silver at $5.
Everyone made fun of me.
That's OK.
Is it gonna keep going this time?
Live Silver Chart: http://www.pmbull.com/silver-price/
Live Gold Chart: http://www.pmbull.com/gold-price/
Given the first comment ("sell it"), I'd say perhaps yes! Sentiment has been crushed and the cheerleading is at an all time low.
Nice VFG, if'n you want to double your money, i'll take that off your hands, ha
"What's the price of gold? $1200, give or take 50 bucks, same as always."
Always?
Inigo Montoya: You keep using that word. I do not think it means what you think it means.
The monkey hammer is in the shop being repaired again. Yelen is putting the overtime work order in now (paid with devalued dollars). It will be repaired soon.
<sigh...>
hope so.....want more and would love a discount
jeej, take a look at the calandar. We have passed the last day of the month. Price surpression...
There is always a catalyst, we just don't know what it is yet.
and it's been hammered down again below $1200. Just another normal day
Aaaaaaannnd....
it's gone.
Yep. The idiot fucktards in the tribe will not be satisfied until they have ruined everything for everyone.
Later we can all marvel that a bunch of sociopathic individuals were allowed to do what they did while practically nobody gave a damn and most cheered them on.
Once again, I feel like Charlie Brown trying to kick the football.
http://www.pmbull.com/silver-price/
Arrrrrgghhhhhhhh!
I think they need to pull their finger off the cork every once in a while to just double check the proper level of suppression.
Down on light volume. Not rigged at all.
Until the Central Banks stop "leasing" gold (to multiple parties) there is really no "price" of gold, as the POG means cost per unit. If the units on both top and bottom are not real, there is no price.
There is nothing to stop the Central Banks and other assorted scoundrels from doing as they please with the gold and silver market as long as they are allowed to print paper.
Buy physical, and dont worry about the "price."
pods
Yes and the pm markets are totally manipulated! The prices will go up when JPM etc. let them go up (or they lose control) Which is it this time?
Yes
If anyone hasn't given it a look, this is the program I use when buying gold and silver. It helps me buy the dips more aggressively while continually acquiring. No worries, the program doesn’t sell anything, just a calculator that allows for purchasing more aggressively than dollar cost averaging in a volatile asset class.
With the threat of the fed raising rates there may be good buying opportunities ahead.
There's a fine line around here between being seen as a relevant information source vs. just being the next spammer du jour.
You sir are currently on the wrong side of that line.
Either you make an effort to engage in meaningful conversation outside of your repeated sales pitch, or you can join the ranks of the ignored and/or denigrated fuckheads who try and piggyback on ZH's traffic.
Your choice.
Point taken, I'll tone it down, but I am really just trying to help since its worked well for me. I don't make any money off of it so it's not really a sales pitch.
You're not making any money? Then why are you doing it?
Equal parts getting something out that I have been successful with and getting feedback on something I came up with.
VFG, I think it's great that you bought Au/Ag at 273/5, and I strongly suspect that the people who made fun of you were not Libertarians.
The more salient issue however, is that there were a LOT more Libertarians who bought near the Peak 3 years ago (~ 1750/34), who believed it was a "Store of Value", but learned the hard way that even this Store has been robbed -- like everything else that interests or threatens the Banksters.
The sad truth that gold bugs don't like to admit to, is that Murphy's Laws work such that many or most who bought High, now might have to sell Low. Given the employment stats that ZH publishes on Labor Participation rates, and the runaway costs in Education and Healthcare, this is mathematically likely.
The point is... although a lucky Few have benefited, an unlucky Many have been punished. What's that saying again... "There, but for the Grace of God, go I".
The timeless aphorism to Financial Wisdom that should be hard-wired into every libertarian or person is: "Thou shall Diversify your Revenue Streams and Investment Vehicles. Allocate prudently and for the time horizon that affects your interests."
Kirk out.
No. Not with silver above the 4 year downtrend line. Once gold follows, it will be game on. And gold has to get all the way to 1440 just to even begin to make a run at it. I don't make the crazy TA rules. But odds are, they will be followed. The absurdity of a downtrend line that is never even tested? Crazy talk. It is just a glowing number on a screen.
Agreed. Any credibility that TA had for a decade (2001-2011) was destroyed in the spring of 2011 and 2013 with the two false flag smashdowns with Bin Ladens death and the Boston Bombing. If you think those two events were mere coincidences you have no idea how important it was for the CB's to crush the gold and silver sectors and any true price discovery.
Been downhill ever since despite the biggest amount of money printing in human history (QE).
when speculators say sell it I always ask for what? when it comes down to it the question is simple. don't listen to markets or pundits. just hold an ounce of gold in one hand and a pile of fiat in the other. without prejudice you will notice one has heft and substansiality while the other is wrinkled, folded and anything but substantial. then trust your inner senses.
I tried it. The wife grabbed the fiat and went shopping.
all the more reason to have silver & gold. It's harder for the wife to spend! Seriously though, I wouldn't sell mine if silver went to $50 and gold went to $5000. What do I want all that fiat for?
When the power grid goes down it can heat your house for several minutes
True. Gold is not legal tender. Have some legal tender. That being said, I told myself I wouldn't buy gold until ZeroHedge starts capitulating. :D :D :D I bought some a week ago. When stocks are at all-time highs, and nothing is in the news, and people laugh when you say you buy gold, that's a great time to buy it. When it hits $5000, and people are eating each other in the streets, don't forget to go all in on Vanguard™ All Market Index Fund for the stock market for the next ponzi cycle. :D
Something's not quite right.
Gold's still going up. $1204 now.
This isn't normal.
Upcoming Greek holidays, perhaps?
They "fixed" it. Below $1200 now.
It's a short squeeze
Wrong.
Whooo-hooo! To the moon! Wait, it's still just at $1200/oz?
Just like it was 2 weeks ago (and 2 weeks before that, and 2 weeks before that)...
It's a trap.......
Maybe reverse phsychology will work, it's been a rough 5 years or so for gold and silver.....
Yeah, but they put steak in the trap this time!
Collect paper money, you can always paper the bathroom with it.
Rough? Sale of a lifetime, if ya ask me.
There as a catalyst. We just don't know what it was...yet.
It's Monday.
Wait for Wednesday?
First Monday after options expiry slamdown.
Rinse, repeat.
Reverse monkey hammered.
Cue the real smackdown please...I need to get more first.
They're using the claw side of the monkey hammer today
Up $10 on a $1200 item = "spikes"?
Anything off of a flat line equals a spike. Hocky stick graphs are easy to make with a little adjustment to the x or y axis.
In time a rise like this will be referred to as a lift not a spike after a few +100/oz days.
I remember those days from September 2008. Was an uneventful day if gold only changed +/- $50/oz.
@ 50x leverage, $10 is a big move. :)
True that. Even *they* admit that silver is a 5 Trillion dollar market. 5T when all the silver mined in the world plus scrap is ~17 Billion $. Talk about leverage here, that is close to 300:1. That's a lot of fiat to keep silver artificially low. May the paper shorts (and longs, for that matter) rot in hell when the music stops.
And............it closed red.
Major crash coming. We Gone!
Going into what?
CB gold price management plan = 1200 +/-20
Stabeeleetee, beetchez!
Tyler is usually Gartman for gold and silver.
Smash in 3....2....1!
Fixing the price of gold in dollars only gives unjustified credibility to the dollar.
1200 fo evah
last time i sold gold it was for real estate
I find no fault with that.
Last time I sold gold it was for real estate also. I was only renting though.
Does anybody here remember the last time one of these "spikes" continued over to the next day?
No, unfortunately. TPTB make sure that shit doesn't happen.
Are you kidding? It will have a hard time carrying over to the afternoon!
Look at today's FeRN chart. FeRN price spiked down, corresponding with papergold & papersilver prices spiking up.
its that discusting fat greek lady with the but flosss...yuck
Big volume too. (Oops missed that in the headline,)
Look like a damn rocket ship. How long until it dives like a submarine; 2:36am EST tomorrow? The Yellen surely won't stand for this.
grexit and ww3 as russia and greece ally, much to merkel's orgasmic delight(moaner, whimperer or screamer?) and zionut rage.
Rumor has it that Merkel and Yellen are both squirters. And that's just from the ass.
SD Weekly Metals & Markets: Last Chance to EVER Buy $16 Silver & $1100 Gold? https://www.youtube.com/watch?v=-iIGuW5AdJo
This isn't a spike.....a spike would be 1300+ with more upside everyday thereafter. Just a little more manipulation to pay for the monthly storage fee.........that is all this little rise equates too.
Or a goldcore article, '....Gold futures spike $4 for July!!!'
No catalyst! Omg we need to talk!
Try platinum or palladium instead.
Insignificant movements in gold price when funny money is spewing out like there's no tomorow.
It is nice however to still be able to trade pieces of paper for precious metal. That window will close someday in the near future.
Supposed to be up on rumor of a Greek deal, which is weakening the dollar. I would have guessed that gold would go down on a Greek deal (removing EU breakup worries). So if there is NO deal, and the EU breaks apart, and the Euro gets trashed, and derivatives collapse -- gold is supposed to go down?
So tired of this movie, some asshole keeps kicking my chair and there's some kid on their phone in the front row watching a justin bieber youtube video....how do I get the fuck out of here?
Look for the exit marked "EMERGENCY".
No worries. It will be down tomorrow.
You don't need to wait that long!
its already down, it only took 2 hours
whis the COLOSSAL amounts of gold and silver mined every year
I still cannot understand why they are not in 2002 levels
Thy need to manipulate to the upside once in a while, so they can plan another takedown. When you control the market, you make money on both sides. Either way, it's stilll just numbers on a computer, and I don't compare failing currencies to my physical ounces. Only ounces to other ounces.
Closed red.
Damn and i wanted to buy today too...
Russia and CHina not happy about US not reforming IMF.
US will end up broke and IMF as well, and no one will bail-out either the US or the IMF.
This happens when BRICS stop trading with US.
Weird, i thought the commercials were short?
With the patriot act expiring, I'm investing in thermite.
A couple of hundred dollars of upside left before the correction completes. More downside in the longer term though ...
http://www.globaldeflationnews.com/gold-elliott-wave-update-for-week-end...
Maybe the Greeks figured out what to do with the Euros they're withdrawing.
Wait for the Euro to self destruct. People will rush to the dollar and the price of silver/gold will drop. That will be the last time to buy before the dollar falls apart and metal prices skyrocket.
It's bound to happen any minute now. Any minute...
Yawn, anyone still believe the contrarian precious metal narrative?
My goodness, that de-escalated quickly. It only took 2.1 million contracts parlayed back and forth to wring its little chicken neck this time.
OK ZH, so the PMs spiked on heavy volume. The speed of the spike was certainly noteworthy. Not sure you need to call out every 2% swing. Apparently you agree since you haven't called out the 2% back-haul that took the PMs back to essentially unchanged.
Why is this evena fucking news ?
spikes happen all the time and usually dont last more than 30 minutes
The same case happend with this one
Is the writher os this text some gold bug with a strong will to get rid of his stash that he bought when the gold was 40% higher ?
When the music stops will you find a chair, or will you be caught buck naked with your head up your ass?
Hmmm, tough choice. Lemme think on that and get back to you...
And it "Spikes" back down...a few hours later.
A SPIKE is when gold rises above $2K next week.
So apparently "spiked" means basically unchanged for the day LOL. Front month futures down 10 cents..exciting!