Gold Surges Above Key Technical Level

Tyler Durden's picture

With the dollar tumbling and Dudley and Kuroda exposed as impotent, investors are rotating to the safety of not Biotechs but Bullion and Bonds. Gold just pushed above $1135 to 3-month highs, breaking above its crucial 200-day moving-average...



But will this break hold?

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So Close's picture

Proly will not hold,  Not enough fear... yet.

Cognitive Dissonance's picture

If it closes above it will most likely retest over the next several days. Gold is attempting to overcome lots of technical and emotional damage. Slow and steady are its friend.

1000 splendid suns's picture

200 Day Manipulated Average?....

200 Day Molested Average?...


Harlequin001's picture

This just does not feel like a bottom. Remember, the dealers know where all the stops are concentrated. Until the longs have been forced to cover short, the dealers stand to lose too much, so I say this is not the bottom until longs are forced to cover, then you get a BIG bounce, because the other side of the newly purchased short is the dealer itself, cleaning up, as always.

I hope I'm wrong, but I don't think I am...

actionjacksonbrownie's picture

USD getting absolutely smashed today. Should be an interesting week!

remain calm's picture

When does the Comex default? That is when the fireworks begin.

Stuck on Zero's picture

Have we reached the point that we can't even create enough paper gold to keep the price down?

RaceToTheBottom's picture

They got to close out their shorts?  They want sub 1000.  

It was written within their contract with the FED....

TheAnswerIs42's picture

On the weekly, it's still in a downward trend.



HardAssets's picture

It'll roll back a little. But will it establish a higher low ? Will that be above the 200 DMA ?

Bemused Observer's picture

No...not yet. I'm not finished...

VinceFostersGhost's picture



I've been not finished for the last 16 years.


I can finally say I'm on my way now though.


Funny how we never hear of the Fed buying gold, only other central banks around the world. I guess the Fed just uses the U.S. military to steal other sovereign's gold and doesn't actually need to buy any. 

Okienomics's picture



"Federal Reserve Banks neither buy nor sell precious metals."

So says the Richmond Fed...

Citxmech's picture

The irony is that it's be cheaper just to buy it on the open market.

Of course we're the ones actually paying for it. . .  

Govt. efficientcy in action.

Latitude25's picture

Go ahead and ban paper cash bitchez

oddjob's picture

My bullion dealer accepts money orders.

HardAssets's picture

Gresham's Law

If they want to educate the dumbed down masses on PMs, just try to force them into 'money' that has no privacy & can be stolen at any time (current situation). Then add insult to injury by charging them to put it in the criminal banks so that at the end of the year they have a smaller nominal balance than what they started out with. (They already lose in real value terms.)

Westerners are dumbed down & castrated, but even they would likely look for alternatives. In the former USSR they had black markets and traded in dollars & other Western currencies. In USA Inc they'll have black markets and trade in PMs or any currency backed by PMs.

Latitude25's picture

70% of paper dollars are overseas.  Imagine telling those people that their paper is worthless.

BlueStreet's picture

With VIX as low as it is this is set to get ugly real quick for the bulls. 

Dr. Engali's picture

Personally I don't give a rat's ass if it holds. I don't by physical in order to exchange it for FRNs later.Having said that, there has been a clear flight to "safety" with the market turmoil as people pile into paper gold. Too bad it won't be there if they need it.

BandGap's picture


Have "ordinary" investments in mining stocks (401K) and "set aside" investments in shiny happy metals.

Only one can evaporate overnight.

Budnacho's picture

C'mon guys..slam this shizz down!!!...I need 4 more months to complete my goal for my stack!....

pachanguero's picture

yes it will hold.....the lies are over

RadioFlyer's picture
RadioFlyer (not verified) Feb 3, 2016 10:33 AM

Monkey hammers are broken?

RaceToTheBottom's picture

Belgium is resting.  Maybe a holiday?

They are not through... yet.

Dragon HAwk's picture

Least he could do  would be put on a base ball hat or something..  just tell st peter your money is hidden under it, that will get you in                  ( not )

RadioFlyer's picture
RadioFlyer (not verified) Feb 3, 2016 10:34 AM

10yr treasuries hit 1.81% and gold goes up...hmmm

Kagemusho's picture

$1200 gold by the end of the month...then all Hell breaks loose,  stawks go into the scheissehaus, the GLD scam finally breaks down, the real value hockey stick goes ballistic into the ionosphere and they'll have to count it by some other currency. Swiss francs, mebbe. Or Rubles. Or Yuan. But it won't be dollars.

Gold's perennial poor relation silver will ride its coattails at least into the stratosphere.

Part of me is hoping. Part of me is dreading. For then it will truly be SHTF time, and I ate out of enough cans in my Army days (dating myself, here) to hate processed food.

arbwhore's picture

More likely back to retest 2015 lows by the end of the month. Hope is a not a great investment strategy. Probability is, however.

bluskyes's picture

Comex and GLD default will be used by MSM to demonstrate how gold can't be trusted. Only the new government currency can be trusted.

Sometimes's picture

They likely have more tricks in their book, and this is a US election year.

zeroheckler's picture

... afraid so and the second graph looks frightening to me.

undertow1141's picture

But C-rations are sooooo delicious.

E.F. Mutton's picture

They're gonna need a bigger monkey

youngman's picture

I think the world has finaly come to the realizitation that we have so much debt...that can never be repaid...and can only be defaulted on to clear the balance sheets of all these countries to start over....and this will happen to the smaller countries first and ending with the USA as the world realizes that our dollar is not what it cracked up to be.....Central banks and governments just cant keep printing money with no effect....and the Joe on the street is starting to get that...

wildbad's picture

the big reset book tells it all

Citxmech's picture

Shit.  Everyone playing musical chairs knows that there aren't enough seats.  These clowns have continued playing the game because they knew that the music would be kept playing by any means necessary.  Now that things seem to be faltering a bit, there is a scramble for a seat.

Still think we've got some time before the/a big one however.

zeroaccountability's picture
zeroaccountability (not verified) Feb 3, 2016 10:35 AM

Wow!!! What gives??? Suddenly Dow (was up 99) is down 153, silver up .39....Holy shit! !!

The front-runners have caught wind of something...

wildbad's picture

SLAMDOWN in ..3..2..1

The Continental's picture

No one knows the true dollar price of gold. Gold and silver are screaming buys at any price: physical held by you only.

Seriously, at this time of the collapse of the debt-based fiat money paradigm, there are only two assets that will hold their own through the coming storm: physical gold and silver.

Consuelo's picture



When you see a 'flight to safety' that mentions gold, sans $U.S. paper, you'll know it's on.

I Write Code's picture

Interest rates plunging ... paging Miz Janet, how do you like us now?

Omega_Man's picture

nice time to get some miners

arbwhore's picture

That nice time was about two months ago. Its a nice time to sell miners now.