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Silver & Gold Jump, Dollar Dumps After CPI Disappoints
It appears the commodity markets love the smell of deflation in the morning. Once the negative CPI print hit, Gold, silver, crude, and copper all soared as the US Dollar tumbled, we presume on rate-hike probabilities dropping. Stocks could care less.
USD Index tumbled...
And Commodities jumped...
With Silver leading the way...
With bonds and stocks weaker...
Charts: Bloomberg
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There won't be any willing rate hike today, tomorrow or ever.
Actually I believe we get a rate hike. Goldman been parading around town saying why a rate hike is not needed. Think the opposite with that group of clowns.
On a side note, crude gap fill @$45.85. High so far is $45.81. Time for a move back down as we have 2 gap fills @ $38 handle and now more below ($44.59) thanks to this full retard move up last few days.
Just a well calculated head fake to suck the gold bugs in for the last leg up before the fall. When Chairperson Yellen raises rates tomorrow, cash will be king.
Ya you go with that....ill remind you tomorrow on how wrong you were, if you show up.
I don't know about you guys, but to me it looks like gold and silver are about to fall off a cliff. Both are now in a long term downtrend, and show no signs of breaking to the upside. The economy is showing consistent strength and I believe our recovery will be robust to an interest rate hike. I think it's safe to say our Federal Reserve will be hiking rates tomorrow, and if not then definitely by December. All this spells bad news for gold and silver, and I expect the metals to continue to fall as the economy recovers and our dollar strengthens.
Really and what charts are you looking at?
https://www.linkedin.com/pulse/commodities-wind-change-william-yii?publi...
Of course at least I can back up my shit...what do you have??
You've been here 2½ years and you still don't get MDB_? Lulz.
Actually Ive been here since the blogger days, don't assume anything, I just deiced over the last 2.5 years to comment is all.
And yes I get his satire
If you get it then why would you willingly make a fool of yourself by taking him seriously?
Every Locke needs a Demosthenes but what good does she serve if no one comments?
MDB is a shadow of his former self. I guess even satirists "get old".
RoboTrader RIP
Are we sure this is the same MDB? underscore...
"MDB is a shadow of his former self"
People have said that about MDB since around his 3rd post, I've noticed...
long live MDB
Third post, huh? That would have been a pretty short shadow.
Where is James Cole when I need a good laugh.
Silver is 70% off its high and gold is 40% off its high - that's a serious downtrend, and it can't be denied. In addition, mining costs for silver are now around $9, and I expect the price to overshoot this value substantially, so there's plenty of room for it to fall a lot further. Also, silver's industrial uses are quickly evaporating as graphene begins to take its place. Gold is also no longer a monetary metal and is rapidly losing favor with investors as a safe-haven asset. Overall the picture for both metals is very ugly.
In US fiat yes. How about other fiats, for example the Venezuelan bolívar - gold is up big time compared to it.
MDB so what you're saying is we better all dump any PMs that we may have before we have to pay to have them towed away - seems legit.
What I found interesting is that Mike Maloney seems to downplaying what should be a major issue. Recycled silver is not keeping up with demand and mines are unable or unwilling to produce silver to meet demand at the current pricing. The fact is the Mike Maloney addressed in a short video the rumor of silver shortage and confirmed that it exists and that they (reasonably large company) have had to changed plans because it is currently unavailable.
Graphene reflects light very well.
"mining costs for silver are now around $9"
Hahahahaha. Good one. I suppose that's why there's so much for sale at 14 eh?
Silver Eagles are unavailable in SoCal. The wholesalers are no longer taking orders as of yesterday. It will not be long before Rounds and 10oz bars are unavailable as well, my guess is 3-4 weeks.
Silver is the one to watch. It's in a descending triangle pattern with a month max before the end of the pattern. Descending triangles usually break out upward. The last two serious attempts to knock it lower have been kicked in the teeth and the price is racing toward the upper bound the day before Yellen has to put up or shut up. I'm betting she flinches and PMs break out. If she doesn't raise at 5.1% unemployment when will she? Never. Any talk about 'maybe next time' will be discounted. We may see a minor rally in stocks but silver will bust loose. Gold will follow. I'm just sad that all mine went to the bottom of Lake Tahoe. It's so deep!
I have better things to do this morning than look at charts divined by a Malaysian "technical analyst". Your claim to have "backed shit up" with the provided copy and paste link only shows your lack of situational awareness and any meanigful insight onto the pricing of the subject assets. Yes, tomorrow we shall see.
Nonsense, MDB_! Can't you read??? Silver and Gold "soared", why, they're up 1%!
Any other sharks to jump today, Tyler?
Silver up 3.25% now.
It's just short covering to buy back all that paper silver that was sold in July & Aug.
Janet, what time does your meeting start today? Gotta get there for coffee and danish. Don't you hate "meeting danish." Although you guys probably have your own pastry chef.
I'll fix it for ya, Mil$Moron: Equities are now in a long term downtrend, and show no signs of breaking to the upside. The economy is showing consistent weakness and I believe our recovery is an illusion thanks to the Crony Capitalist Pinko Fascist Commies running this once great country (you be included)...
I don't know about you guys, but to me it looks like gold and silver are about to fall off a cliff. Both are now in a long term downtrend, and show no signs of breaking to the upside. The economy is showing consistent strength and I believe our recovery will be robust to an interest rate hike. I think it's safe to say our Federal Reserve will be hiking rates tomorrow, and if not then definitely by December. All this spells bad news for gold and silver, and I expect the metals to continue to fall as the economy recovers and our dollar strengthens.
+1 MDB. You rock. Would your last name be Gartman by chance?
It would be even more satirical if he said he thought PMs were about to rise.
For those that do not know MDB let me translate for you:
I don't know about you guys, but to me it looks like gold and silver are about to fall off a cliff MOON SHOOT. Both are now in a long term downtrend SUPER CUCLE UPTREND, and show no signs of breaking to the upside DOWNSIDE. The economy is showing consistent strength WEAKNESS and I believe our recovery will be robust DIRE to an interest rate hike. I think it's safe to say our Federal Reserve will NOT be hiking rates tomorrow, and if not then definitely by December THEN NEVER! All this spells badGOOD news for gold and silver, and I expect the metals to continue to fall RISE as the economy recovers WEAKENS and our dollar strengthens COLLAPSES!
ABC LINE CROSS OUT NOT SHOWING TYLER?
Very old problem. I have been here as long as you have and don't ever remember it working.
LOL!
"The economy is showing consistent strength..."
Apparently with the new Wifi technology, ET's can now access our earthly internet even if it is by a stray blip of data streaming.
This is good news because it means on some planet out there in space there is actually a strong economy.
PS. The prices of PM's are not attached to anything other than whatever JP Morgan's needs are for any given day.
saint, damn beils got the cpi report to duke and duke, before I sold my uso, now up another .10 cents, fuckers always know before the sheep.
Thats how those assholes roll. One day they will be screaming turn those machines back on
'Merika after that rate hike.....
https://www.youtube.com/watch?v=g_OgOLO8uNY
Pay attention to the start.
Thursday, they'll say no to the rate hike. Gold and silver will rocket higher. Friday, Bullard will come out with ta statement- Given economic strength we continue hold a strong bias toward monetary tightening. The market will hold its gains but gold and silver will go back into the basement.
Wash rinse repeat. I'm fine with it, though. Keep on stackin.
Silver is still under $15. Gold is under $1120. A far cry from their peaks.
http://www.nasdaq.com/markets/silver.aspx?timeframe=5y
http://www.nasdaq.com/markets/gold.aspx?timeframe=5y
No, highest price ever for gold in SA, India, Brazil.
Try buying a few Oz's of silver at under 15 and let me know how that works out for u!
Took Red Pill, Bought Paper gold on COMEX.
Fixed your name for you. The Dollar is in a speculative bubble due to the hawkish babble from Yellen.
If they actually tighten the market tanks. If they don't actually tighten the USD unwind picks up steam and becomes a stampede in the other direction
no thanks. Only the real stuff for me. I agree with you. I'm just pointing out a fact. It makes no sense that the demand is high, supplies are short and the price remains low. How long can they keep that up?
The more things look recession(ier) the more pressure the Fed is to hike. They have to reload the "quiver" or risk going into the next recesson/depression with no arrows to shoot. Inverse logic, but when you really think about it, that makes good Fedsense (i.e. no sense at all).
The Federal funds rate, much like the Fed is now irrelevant.
Money is free if you are a bank...fuck everybody else
Nothing is more toxic to the Fed's game than deflation. So, how about a Yellen Barbarella strategy -- a quarter-point rate hike on one side and a big Quantitatve Enema on the other?
I thought commodities were dead? Or are these really monetary metals?
Depends on who you ask
Stocks could care less.
Any Questions...
DaddyO
It won't be long until the term "soaring" is accurate. Gold AND silver will move hundreds of dollars in seconds.
Not a fkn chance. They will halt trading with limit up if that scenario ever unfolds. Gold will be locked between $700 and $1300 for years, before gradually rising to test $1900 again. Stop reading those newsletters - they are sales pitches and nothing more. On a side note, I notice Doug Casey's newsletter service finally capitulated after so many years of horrible advice. He sold his "service" when his subscribers finally said "enough!!".
It depends on whatever the agenda for that day is
Wait, what? CPI didn't disappoint. Wait until the good news gets out andd Silver will revert back to it's reasonable value around $14 handle. /s
BullBearish!
Manbearbullpig we must warn Al Gore.
It's a quarter fucking point and the whole world has gone mad. I feel like I'm on crazy pills watching this.
Quarter point rate hikes are like potato chips- you can't stop at only one.
I'll tell you what I can stop at just one of..., Natural Lite. Gross.
I don't expect to be drinking one of them anytime soon.
With Inbev buying every brewer everywhere, that shit will start getting brewed in Hondourus. You think it sucks now....?
I've got 35 brewpubs within a half-hour drive. So there's that.
Exactly. WTF is it really going to do - cause companies to stop expanding production? Bizarro world. The rate hike is coming to give our friends the banks an extra quarter point to buy treasuries or whatever other discount garbage debt the Fed will exchange for face value in QE^N.
Barbaric relics! Rubbish!
I always laugh when they say commodities "market".
hi ho hi ho birchez
While I like the precious to increase, as opposed to continual falling in price, I wouldn't call this am's upward movement as....."soaring".
PM's already at record prices in Brazil, India, South Africa.
I see the heading changed, lol!!
Oil is up today too. What a world, what a world.
Rate Hike. It just feels right. What the world needs today. To sing in perfect harmony.
Next up. Yellen says anything and PMs dump
The run in Gold and Silver will start when the blood is flowing in the streets . ( Blood of the brokers jumping Ponzi castle)
So someone finally cleaned out the last COMEX bars? LOL
When you start seeing gold jump in $100 dollar increments then you'll know that the shit has finally hit the fan.
Yeah, up $10 isn't really "soaring", IMHO.
Snoring, maybe...
When they turn the lights out in the metals market no matter what the dollar price is, then you will know....
It's "Couldn't care less." Will someone please break the COMEX already? I've had my hopes dashed for years now and forgot what it was like to think this might actually be it.
"Could care less" is supposed to be sarcastic.
Circus. Now we need more bread.
WHAT RATE HIKE????
Rate hike will triger a selling spree in the treasuries. Who is going to buy? To what extent (yield) and what amount?
Lets say it happened. Then the bonds will be repriced and there will be a lot of loss due to the repricing. Mark to market effect.
With new accounting principles, this will be hitting the banks hard. These losses will be directly deducted from the capitals of those institutions.
We all know the capital adecueacy of the financial system is not great and stress tests are barely passed.
The only time it is possible for rate hikes are when the system is hugely overcapitalised where the losses can be absorbed.
REGARDING THE SILVER AND GOLD CURRENT PRICES;
ARE YOU KIDDING ME? COMEX IS ALMOST EMPTIED. FED INCREASED THE MONEY SUPPLY 4 TIMES SINCE THE CRISIS AND THE PRICES CAME DOWN ALMOST HALF FOR GOLD AND ONE THIRD FOR SILVER.
THIS IS REDICULUS...
Please tell me that English is your fourth or fifth language. I cannot write in another language. If you ARE a native English speaker, please turn on spell check.
Y u cair?
Damn, I missed it!
Yeah, too bad. Even a moon eclipse happens more often than this.
Yeah, too bad. Even a moon eclipse happens more often than this.
Not much of a PM jump
Nothing that hasn't gotten and wont get smacked right back down in 5 minutes
Wake me up when it starts moving in 50-100 dollar increments
I saw a baby eat a dingo once. Not pretty.
Will never happen in this version of the fraud. Maybe you don't remember the ZH articles about circuit breakers that are designed to stop just that type of rapid rise scenario.
fyi
http://sputniknews.com/business/20150916/1027074510/gold-repatriation-un...
another fyi
http://www.eutimes.net/2015/09/europe-wants-its-gold-back-from-us/
From that "article" --> "The first one is that dollar unlike other currency like euro or yuan is not backed by gold."
The Yuan is "backed by gold"?!?!? LMFAO!!!!!
What part of all fiat will die don't you understand?
Meaningless. Gold prices are still being driven by he US-based paper gold exchanges, on US-centric "data"...not by real physical supply and demand.
Here's what should happen.. Tomorrow,(9/17/2015) after the FOMC meeting Mz Yellen just seems to fall out of sight,
with no after meeting press conference being offered. due to the silence, the equities,by early afternoon are tickling the
soft underbelly of the 17,000 mark once again...Then, out of what seems to be thin air,she just "shows up" on the floor
of the NYSE..With a small goon squad to assist her, she pushes her way through the bright lights ahd strobes of the msm
and financial presstitutes and makes her way to the public address podium,and taps the microphone to see if it's on...
After this quick confirmation,she simply stands there,saying nothing..As the minutes click by,the silence becomes deafening.
One of the presstitutes starts to shout out a question, but the simple raising of a hand returns the silence..After what seems
like an eternity,and without any warning, she suddenly yells into microphone, "GET TO DA CHOPPA!!" while simultaneously
pointing a scraggly finger towards one of the LITE-BRITE (tm) boards, as 25% appears across the marquee....