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Gold Surges Above Key Technical Level, Silver Regains Last Week's Losses
Gold has filled the gap from the mid-July China crash and broken above its 50-day moving average for the first time since June. Silver is surging once again this morning reoundtripping to last week's pre-flush highs...as The US Dollar limps lower.
Gold breaks above the 50DMA for first time since June...
Recovering all of the flash crash losses...
And Silver roundtrips from last week's plunge...
Charts: Bloomberg
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Gold due for a $100 bounce from here
http://www.goldsqueeze.com/analysis/range-bound-gold-poised-for-a-bounce
but but but but barbaric relic, pet rock
Good to see PM's decoupling from equities, all of the actions of the big players portends a shift in the PM markets.
Who cares what gold is valued at in USD? How do you compare something that has always been valued as moeny to a piece of paper that is backed by terrorists?
If you think paper money is going away you are deluded. And if it does you will most probably be dead.
Sorry boy, it is the stupid , statist dependent , Obama voters like you who will be belly up. Now go get your homosexual wedding cake at a bakery who did not want to bake it and eat that shit.
Firstly, Mr Cocksucker, im not a yank. Secondly, Im not a poof. Thirdly, im not married. Fourthly, I probably own more gold and silver bullion than you and my cock is probably bigger.
That said. If you too think that paper money is going to go away for good then you are equally deluded.
No problem Mr. punk ass , you will hand over all that gold and silver you bought at the peak for the asking when the time comes. You might not be a "yank but any fool who mentions his own dick is damn sure a stupid tosser.
Considering the current monetary and economic environment I am an unabashed precious metals bug, but high-quality equities are one of the greatest wealth builders for the average investor in history. They just happen to be wildly overvalued due to direct and indirect manipulation by the central banks. This manipulation will fail and equities will be undervalued at some point, and I hope I'm smart enough to buy, just not today.
Double post
Funny how just 1 ounce of that barbarous relic can buy nearly 1500 gallons of crude oil. LOL
Or can buy over 500 gallons of regular unleaded.
And that using the currently criminally and severely manipulated CRIMEX spot price.
Try this. Take one ounce of gold. Fill up your gas tank, then try to pay with the OZ. Let us know what happens. I'm curious.
Try to do the same with your 401k statement assclown.
Last I checked, the LCS down the street pays cash on 97% of spot.
Cant say the same for your retirement funds managed by the Grubermint.
And dont forget to pay your taxes and 10% penalty
TRY THIS:
Take one banker. Fill up your gas tank, then try to pay him by pulling that banker from your trunk and throwing him before his feet! LET ME KNOW WHAT HAPPENS! I'M CURIOUS TO!
GO BUY MOAR STAWKS DUDE!!!
says the Kazakhs bought gold before devaluing, smart
https://twitter.com/wmiddelkoop/status/634343915685081088/photo/1
YESSSSSSSSSSSSSSSSSSSS!
Wake me up when it hits its upper 'collar' in a day.
It will happen, but thats the only signal that will tell me they lost control.
Beware the return of copper coins .... copper for a "change" !
Well, yay I guess. This gets smacked down so often I have a hard time getting worked up over the mere fact it's recovered from any already beaten-down and depressed low. I'm a big fan of silver's long term outlook but when people print paper silver like the Fed prints dollars, there isn't much to look forward to until people start demading physical.
-Argenta
Doesn't everyone want the strong US dollar backed by $210 trillion in debt?
Renowned economist Laurence Kotlikoff recently testified at the U.S. Senate about the runaway U.S. budget. How bad is it? Kotlikoff says, “I told them the real (2014) deficit was $5 trillion, not the $500 billion or $300 billion or whatever it was announced to be this year. Almost all the liabilities of the government are being kept off the books by bogus accounting. . . . The government is 58% underfinanced . . . . Social Security is 33% underfinanced . . . . So, the entire government enterprise is in worse fiscal shape than Social Security is, but they are both in terrible shape.” So, how much is America on the hook for in the future? Kotlikoff contends, “If you take all the expenditures that the government is expected to make, as projected by the Congressional Budget Office (CBO), all the spending on defense, repairing the roads, paying for the Supreme Court Justices’ salaries, Social Security, Medicare, Medicaid, welfare, everything and take all those expenditures into the future . . . and compare that to all the taxes that are projected to come in, and the difference is $210 trillion. That’s the fiscal gap. That’s our true debt.”
http://usawatchdog.com/financial-system-will-collapse-just-a-matter-of-w...
Now you have revealed the primary goal of Obamacare. It is a form of debt enslavement designed to rape and pillage the baby-boomers pensions, savings, and 401K's and taking all that is in their path, both old and young while destroying the medical system, bankrupting businesses and putting barriers in the way to those who thought or want to start a business; while enriching the major healthcare and pharmaceutical companies. As bad as it is and is getting; it will be much worse for many are one medical crisis away fro a bankruptcy that then make that person dependent on the government all the more. Doomed to fail i the end, but with much carnage.
--------------------
Global debt is the ultimate rape & pillage of the nations and this to will appear to succeed, but will end in failure taking many people down with it. It is the tool the globalist use to get to the One World Economic System.
Stunning. Two people actually gave your post a down vote. Unless they missed your sarcasm...
Anyway, I've been preaching this to anyone that will listen for years. The US isn't just broke, it's so far in the hole there's no hope of recovery. Granted, it isn't fair to compare sovereign debt to personal debt, given countries don't generally have a life span like we do, but what would any thinking person say to another person who owes ten times his annual income with future plans to outspend said income by ten percent every year until he dies? Exactly.
-Argenta
"Gold Surges Above Key Technical Level"
Key Technical level? When it's rigged, how can there be a "Key" Technical Level?
Easy – Dilbert's boss explains:
http://charts.stocktwits.com/production/original_33069671.gif?1424769104
The price is not rigged in a vacuum, it's rigged in the real world - packed with traders and algos that all know and breathe TA. So TA is a force multiplier which facilitates price manipulation.
it's about time. All my Money is invested in a junior Gold Miner who's Share price is sitting at the bottom and is leaving me in the red so far.
LODE?
This pop is a LiTTLe different: it's accompanied by the sound of falling Domino's
It's about fucking time.
I have been reading ZH for over 2 years, trying to understand what's going on. Gold usually goes up with the market; this time it's going up when the market is going down. Why is it different this time?
Yes, I really am this ignorant, so you guys don't need to shame me. I'm really trying to understand.
EM fear trade.
EMP fear trade ?
Now they want the market to crash, so they're sending the crash signal.
Has to do with how the ptb will try to resolve the market going down:
1. Print more via QE which "should" intrinsically cause gold to go up as this would increase the amount of worthless fiat in the system.
2. They let the market crash triggering an epidemic of liquidation of assets that are intrinsically worthless, thus causing a rush to gold.
Thanks to all for the answers. I was looking at the historical charts for gold and silver and comparing them to the timing of the QEs and I see the correlation. What totally mystifies me is the platinum and palladium upticks, as they are more industrial and it would seem to me that they should be going down as is copper.
I get the safe haven aspect; just can't understand why folks weren't alarmed earlier.
When it's serious you have to lie
Tell me about this market thing. I hear it used to work miricles before they rigged it to explode in everyone's face.
If you want to know the truth, consider gold going up is a strong signal that people with money are fearful, gold going down suggests everything is A-OK. People don't make rational decissions, most people do what everyone else is doing. That and, if I lose money everytime I run to gold in fear of a bubble popping, I learn to not run to gold. So, if you're going to rig a market, one of the things you have to do is control the price of gold, mostly through naked shorts. But you can only do this for so long, eventually you run out of physical supply and then people start asking hard questions with pitchforks. (Unless you make up some event to blame it on that "no one could've seen coming"... then you can rinse and repeat.)
Dollar Down, Gold Up -- ancient pre-HFT wisdom
Yuan Down, Gold Up -- modern Asian tea leaf reading
"..we now must exceed the high of last week to keep the upward momentum in gold nearterm. Still, there is no indication of a longterm change in trend" -- Commdore 64 wisdom (that a whole bunch of multi billion dollar institutions take very seriously)
"Gold has filled the gap from the mid-July China crash and broken above its 50-day moving average for the first time since June." -- cattle call to the lemming sheeple
It's confulence of gold positive events and technical analysis triggers at a specific point in time.
As I'm sure that you have read many times gold and silver are money and insurance. Gold is going up because people see the value of their currency dropping. They are also looking for something that they can put their currency info that cannot be driven to zero value because the stock and bond markets appear to be ready to implode.
Gold still missing at least two ZEROs from its price. Another zio tax.
I just bought a pile of Ag last night.
The drop in price is Due. Any. Minute. Now.
Cork off .... I pegged the bottom Tuesday .... when I bought 100 one troy ounce copper coins .... FYI !
I'm not waiting for a bottom in copper. I'm waiting for a reliable source of low premium ingots. If I get a supply stream I'd be happy to sell you copper for 2x the spot price, 'cause you probably paid 4x for your 1 ouncers.
No worries 2 ounces of Ag filled a gas tank 15, 10, 5 years ago and does today...you are betting against the debt.
Just another dead cat bounce. Why? Because we are in a deflationary credit contraction that the Fed knows they are fighting and not winning the war against. All the QE they implemented failed to get GDP and the economy going. The Consumer isn't spending but going deeper into debt. Banks aren't doing anything to get money velocity moving. 10 year Treasuries are headed to below 2%.
I provided my 8 Indicators That Tell Us Where Gold Might Go Next in July of 2014 and they haven't let me down with my predictions. http://buygoldandsilversafely.com/gold/8-indicators-that-tell-us-where-g...
I also sell gold and silver for a living and this bounce wasn't difficult to call as my phone was ringing off the hook for about a month straight while supply was decreasing and premiums were rising. But guess what? The phone aint ringing and this cat is dead but can still bounce a bit more if we can get under 96 on the dollar (hey, I don't ignore price action).
You can follow my Current Thoughts 5 days a week here: http://buygoldandsilversafely.com/category/current-thoughts/
Where do I sign up to follow your thoughts zero days a week?
The same place a person signs up for your thoughts. :)
The definition of ignorance is "you don't know what you don't know." Keep the door to new possibilities closed son. You're going places.
So how come I can't follow your commnets here at ZH? Are you just another sock puppet or what Doug?
Don't know Bay, maybe ZeroHedge doesn't want the truth out there? They sure as hell ignore my articles I send them that take the opposite view of theirs.
Well, that didn't answer my question and I don't trust anyone here, including you Doug.
The Tylers like to play all sorts of games here banning posters, trolling with other handles and deleting and hiding comments and old articles.
bay, I am not an adminstrator here. When I click on my profile it gives me an option to follow me. How is it my responsibility to handle Zerohedge administration and why the attacks on me personally? Don't care if you trust me or not. My body of work stands on its own. But I am a real person and use my real name; http://www.amazon.com/Buy-Gold-Silver-Safely-Learn/dp/0982586116/ref=tmm...
I am not attacking you personally Doug, I am just pointing out the glaring and obvious inconsistencies here at ZH.
And BTW, I read your article above and agreed with many of the points you made. Disgree on overall worldwide physical demand and especially in regard to China.
Carry on bro, and good luck.
Sorry Bay, wasn't aware of ZH issues.
A few years ago you found me out of the blue and posted one of my articles here. Thanks for that, lol.
Cheers!
Do your charts include drawings of dead cats on them? If so, I'm in!
I've actually read Doug's posts before and didn't expect to see him here. I'd trust him as much as any of the PM pundits and certainly more than Zerohedge, which has been long on gold and silver forever.... bitchez!
Quite the opposite is true in this neck of the wasteland. I buy and sell. Well, lately I just sell (At profit) and sell and excuse me, the phone is ringing.
Not sure where you are baa baa, or who you are, but my company is national and my 4 suppliers, 2 on the East coast, one South and one out West give me added insight. Glad your phone is ringing!
Buy The Five Year Fucking Low, bitchez!!!
BTFYFLB = butterfly
"bitchez"; so old, wore out and lame.
Bitchez was first used by gays .... do we have to mimic the gay, left .... bitchez ?
So is "Fuck" but I see no decline in its usage. Sounds like a personal issue to be. Maybe it is you are just someone's bitch and offended.
Don´t worry about the 1% ..... worry about the 51% government beneficiaries .... the 1% have their gold .... the free shitters want YOUR gold .... when they figger out what´s twat !
Phonystar must be bored
Phonystar's chain is forking
There are 10 countries out there right now with devalued currencies that the people in those counties wished they owned some gold.....they just lost 20% this last week....there will be 10 more next week and so on.....I see gold demand going up big....
"I see gold demand going up big...."
Which is why the cabal steps in during the wee hours periodically and smacks the hell out of it . Trying to break the psychology of gold being a safe haven.
Paper gold should be shunned. Physical is flying off the shelves. One can almost set their own price and people gladly turn over the stinking fiat for physical. Middle America is scared and doesn't haggle over price of something they feel is crtical to survival.
Paper traders are going full bore with the fed to keep it (PM's) from being the threat to the ponzi. Never work! Time will tell and not all that much time. That is about greed and time has run out for procrastinators.
Bite the bullet, dump equities get your metals before the .0001 gets them prohibited... Beat them to the punch.
It is possible for the retail investor to break the back of this bullshit, tiresome gaming of our financial future. No debt or load up on all you are able and hope they are forgiven? Place your bets.
Caution required, the party may be gate crashed yet in those thiny traded hours.
It would have to keep climbing and keep holding and closing at a higher level for a while before I decided the bottom was in.
GLD short, but like the VXX; only 1 in 20 come out on top.
Wake me when gold gets back to 1280, which was the price just last January. Otherwise, it's hard not to believe that this isn't just one more in a long series of 'pump and dumps' culminating in tons of notional gold being dumped during an illiquid Sunday night.
I'll give ya a shake next week.
Deflationary forces drive PM prices down until deflation represents a systemic risk - like now. Can CB's hold back the tide of a systemic risk rush into PM's? I doubt it...
Wait, what? I could have sworn I saw a monkey with hammer riding a trike by my window with a shit-tossing grin on his face...
I hope the PM shorts aren't getting hurt too bad.
No...wait. That's not true.
I hope they are getting a feelig like a red hot poker stuck up their anal sphincter while getting knifed in the eye by a guy named Vincenzo while his friend Shifty is holding the FED shill's feet in quick-drying cement.
Honesty - can't beat it.
if one were to short the GLD right now with the DJIA being so close to 17K; they will profit imo. (short-term). The key is for that Plunge Protection Team to not allow the DJIA to fall below 17K as it almost did at the opening, but the PPT is already hard at work.
The buyers of gold are gone and nobody owns gold except for Stanley D and few of his friends. Soros owns Barrick and GDX. The shorts have a huge position that is enough fuel to see $1200 at which point the longs begin to be interested again. It will be the shorts who make the final bottom. Even gold analysts are all bears now.
Just be a bit afraid of Dennis Gartman.....if he buys heavy gold in US dollar terms...the rally will be over.
Market opens in 5 minutes; will take a great fall, then be propped up in the late morning and early afternoon, then drift downward the last hour. Rinse and repeat, but watch that DJIA 17k; if it falls below that, could there be a rush out the door?
IMPOSSIBLE! Quick! Sell all your gold and buy bitcoin! Or Tesla stock.
for the 400th time pm is not an investment, it's insurance (coming from someone sitting on a fair bit of ag). my HOPE is that my kids sell it after I'm gone but I don't see it working out that way...
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But Goldman-Sacks said gold was going down... I'm so confused. My normal bias clouds everything!
OTBR: Nazi gold? 2 men claim to find mysterious Third Reich treasure train in Poland
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hey hey HEY! Wth? Yesterday morning I was looking to put an order for 6 oz. of buffalos, eagles, krugerands etc for tomorrow...in less then 36h the price is up 5-6%! Stop that!
Gold is good... it doesn't do anything or earn anything.... Oil is bad... it is the blood of civilization. Gotcha Zero.
gold/silver are the least stinky dead fish so the market is exchanging everything for gold/silver. slowly to keep the price from going up to fast, it jumps up a bit and falls back farther til supply demands a higher price, it is moving to extremely strong hands. at the right moment it will be allowed to go up ddrawing more supply as long as it can be obtained in this way until the supply dwindles and the price then can be set free causing the strong hands increible return as they can trad out of some gold for everything just by announcing a gold backed currency. is that so hard to understand. a new empire with a billion people who are nationalistic and will swarm the productive west like locusts.