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Silver Spikes To Six-Week Highs On Heavy Volume - Biggest Jump Since Dec 2014
Precious metals are angrily bid this morning (even as copper and crude tumble) after the dismal US jobs data sent the USD reeling and raised expectations for moar QE down the line. Silver is up 5% on the day - the biggest daily jump since Dec 1st 2014 and gold is up 2.2% - its best day since April.
Silver is soaring...
and so is gold post-payrolls...
Charts: bloomberg
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The miners are loving it as well
http://www.goldsqueeze.com/analysis/has-gold-miners-found-a-bottom
yes, happy, happy... i just growed me a double stack shiny!
now... hmmmm ... what to do with it?... what to do?
do i blow it all in one place?
We should track the spread between paper silver and actual physical silver (and gold). Just sayin. Spot price don't mean shit if you can't buy it on the spot for that price.
Yesterday the mainstream finally talked about the physical demand, but completely missed the implications and their conclusions were off base. It will be entertaining to watch them try and rationalize the rise in prices in the future. They will give a reason, but it won't likely be the correct one.
Blythe man those HFT's, Dimon set algo's for Defcon 5. We're tanking silver one way or the other. Damn the supply, demand, yield curves and depleted inventory, Full Speed Ahead..!!
Disclosure: I'm long paper, ink and high speed printers.
Full steam ahead, who the fuck came up with speed, that word is directly associated with insanity, they are directly proportional
@negative rates: It dates back to 1864 and the Civil War.
Admiral David Farragut's cry of "Damn the torpedoes! Full speed ahead!" is now the stuff of legend.
HMMMM.....i Thought it was Manilla bay, during the Spanish American War .....and that it was Admiral Perry (but im not su re aout it being Perry)
edit: ....don't believe there were "TORPEDOES" per se during the civil war.....
I think there will be an uptrend in PM for the next few months. But I am afraid there will be a smackdown in Q1.
Kalki
When silver gets back to $48 an ounce let me know
Or even $28
Only lemmings and tools measure wealth in debt instead of ounces. Watch that first step, it's a doozy!
By the time silver starts approaching the $40's again we will probably be in the full midst of a hyperinflation where you won't be able to buy any at any price.
Alternatively, fiat currency could die before that ever happens if the USG defaults, and people who bought metal will have something of value in hand.
/TookNoPill
Let us see the paper go for $8. Again.
C'mon JPM full cycle, Back to the Futures 8.
Lightning and all that stuff, just 88mph.
There is that 8 & 8 again.
"Get me back in time,.. get back Marty" - Huey Lewis
Best comment on this topic (AG prices) since... many months.
LMAO!!!
How fucking desperate are you people?
Thank you sir, for promoting my AI to 'people' status.
I used to get excited about this type of news. Smackdown cometh.
Me too, now I get excited with smackdowns.
https://youtu.be/SP6cmVZbJJU
Cheap insurance.
Cannot think of even one good reason to be in the stawk market, not even for hyperinflationary gains. The companies and the brokerage would have to stay alive long enough for me to sell and collect my gains.
Pet rocks look cuter and more loyal all the time.
Really? If the insurance policy that you bought for your $45,000 car or truck now only pays out $15,000, what kind of an 'insurance' is that?
Do you REALLY want to hear that "Now is a good time to buy more cars"? Especially if you are like 90% of the people, and are just getting by?
('Just getting by' = Experiencing an erratic income, due to the hire-fire policies of modern day 'Job Creators', who love to offshore skilled jobs, who love to use illegal slave labor or use low-wage visa immigrants from Asia as a form of labor arbitrage, have had stagnant wages for >10 years but have to deal with rising living costs)?
You must be a silver shill, or fortunate enough to be immune to the economic and financial turbulence of the vast majority of the population.
People must feel even more bitter about buying house and car insurance each year that expire worthless, no concern for them?
While I agree with your middle paragraph it seems to have nothing to do with the subject at hand. If people can't afford silver or gold clearly the discussion is not for them. If instead people are looking to preserve what savings they have I would love to hear about a better alternative to a 5,000+ year old money that has survived countless fiat currency experiments and retained value. Please tell me what investment vehicle would you suggest that is superior to silver and gold in a ZIRP or NIRP environment that is portable and can be used as a means of exchange. Heck forget the means of exchange and portability what is a safer alternative? The only one I can think of is arable land which last time I checked is far easier to confiscate via taxation or eminent domain laws and is also far, FAR more expensive.
Rate hike + QE4
I'm afraid you may end up being right. I postulated that idea here a couple years back (and mentioned it infrequently since) and decided if it ever happened my head would explode. I can already feel significant intra-cranial pressure building up.
Only about 1000 million ounces of silver bullion is available now in this world. That is worth about $15.2 billion.
Kotlikoff says US debt increased from $60 trillion to $210 trillion in 2014 or $37.4 billion a day.
So every 10 hours from 2003 to 2014, US debt increase was fast enough to buy all the silver bullion in this world
That is wrong. I think their is general agreement the unfunded liabilities have been growing by about $5T a year. Or silver stock could be bought ~ every day on the new commitments created.
Kotlikoff goes on to illustrate that the fiscal gap is increasing at an alarming rate and that delay makes our problem much worse. In 2003, just a little more than a decade ago, the fiscal gap was $60 trillion. But by last year it had catapulted to $210 trillion.
http://www.brookings.edu/research/opinions/2015/04/08-federal-debt-worse...
But I won't sell mine for Fiat
lotta good this does me as my PM stocks nearing ten year LOWS
Barrick is near 27 year lows. Lots of shenanigans going on in the PM sector, and for a change it is the mining companies that are on the receiving end.
gentlemen, it's time.
TO THE FAZmobile!
Careful not to run off into the ditch with the FAZmobile.... Triple leverage means triple your fun banging find triplets or triple the pain getting triple VD shots ...
it's meant to be a joke. i use it once a year religiously.
https://www.youtube.com/watch?v=zcrEB5vUIrw
My mistake Buzz. I thought you were talking about the FAZ triple short on the financials ETF. Loved the video though.
I think it's safe to say QE-4 or other helicopter money is on its way. So, how long until the effects on stocks are surpassed by the effects on PMs? I say 4 to 6 months, and it will be 2009 again.
When PMs are "angrily bid" it implies that Tylers know something about the action this morning that is not in the article. Like I said earlier, why no circuit breakers on that $20 ramp?
As much as I want to do a happy-dance over this, I've seen it monkey-hammered so many times it's hard to get excited.
Glad I got that Kilo-bar last week however.....love's me the Kilos!
Prepare for it to roll over now that ZH has mentioned it...
3:30pm it'll drop under 15.
One day soon you'll wake up and the market will be down 15%. And then you won't care what price silver is, you'll buy it anyway.
US equity is down around 10% YTD. Heavily used metric YTD, especially when we round out the thrid quarter and head for the new year.
- 10% YTD
And the dollar continues to be printed at capacity by the Fed, because ZIRP, while the Treasury still issues debt ad infinum.
You buying silver yet?
trav7777 had a wicked sense of humor
Wed, 03/14/2012 - 16:10 | 2255612 trav7777
sigh...ok, it's clear that you people are too stupid to get this, so let me explain.
You have emotionally identified with your silver. I don't hate SILVER, I hate YOU. Are we clear now? You and your silver are not one and the same, ok? Stop getting attached to your fkin possessions.
I hate silverbugz because you are a herd of lemming muppets listening to idiots and con artists.
http://www.zerohedge.com/news/day-history-gas-prices-have-never-been-higher
Only problem I see here is that is Trav has been gone for over 3 years and you just graduated from noob to greenhorn, care to share what your previous i.d. was?
What makes you think he was being funny? Sounds dead serious to me.
Didn't the comex recently institute a daily 10 percent limit up on precious metals? While silver is only halfway there so far today, it would be interesting to see if the circuit breakers kick in at the + $1.42 mark.
I did my first transaction last week using AG. 8oz for a two day training course. Both parties very happy with transaction. TPTB dread the day we just start using the stuff, they seem ok with hoarding/stacking, using for transaction not so much, IMO. There's plenty of reference on MSM to stacking/stackers/gold bugs - you never hear about people using AG/AU to trade goods/services. I don't see any harm in spending some AG now , as far as i'm concerned the SHTF is actually happening now and we should proceed accordingly by disengaging from current paradigm and switching to system we have been preparing for.
Nothing but smoke people - My silver is still only worth 50%
of the purchcase price. Should I start dancing now?