Gold Spikes To 8-Month Highs, Silver Breaks Key Technical Level

Tyler Durden's picture

The bid for precious metals is accelerating. Gold just broke above its October 2015 highs to 8-month highs. Silver is also bursting higher, soaring above its 200-day moving-average.

Gold at 8-month lows...

 

Silver breaks 200DMA...

 

As Gold continues to suggest The Fed screwed up...

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lakecity55's picture

It's gonna hit the circuit  breaker!

Cognitive Dissonance's picture

There are no barbarous relics in a panicky fox hole. But there should be.

Durrmockracy's picture
Durrmockracy (not verified) Cognitive Dissonance Feb 8, 2016 10:58 AM

When is Bitcoin gonna join in the fun?  Once the tenants from the million-dollar crack shacks in Vancouver start getting evicted?

Killtruck's picture

You post this crap on every gold-related article. You are supposed to dance, but instead you bore me. Downvote.

Durrmockracy's picture
Durrmockracy (not verified) Killtruck Feb 8, 2016 11:22 AM

Why do you dance for paper, rigged prices?  I will dance when the dollar dies... never to be replaced by another state currency.

Gold Pedant's picture

Except that's not how the Fed's game of Whac-A-Mole works. Once the Fed can't monkey hammer quickly enough and loses the game, it pulls out its sledgehammer and hits the machine until all the tokens spill out. You will still be required to pay taxes in USD in an economy at that point driven only by stuffed animals and Candy Crush. (Millenials, of course, wouldn't understand the concept of arcades, and the older generation still clutching onto their tokens would quickly redeem them for something tangible thus maintaining liquidity for just a while longer.)

ilion's picture

Some very big stop-loss orders are sitting around 1200.5 USD in Gold based on Vipro Markets MT4 trading info. This is where the gold price should go today.

thatthingcanfly's picture

Then you're... "never gonna dance again. Guilty feet have got no rythym."

Not My Real Name's picture

Without ZeroHedge, I'm sure his blog wouldn't get any visitors. It's the same for serial spammer Michael Kelly. 

SgtShaftoe's picture

That looks like a beautiful cup and handle formation.  We'll see this week if it confirms.  Either way, It will be fun to have an up metals market for a while.  I was getting worried about my miners the last year or so. 

XAU XAG's picture

China

Will nock that hadle off when they are back in the game......................weeks time

daveO's picture

So far just a bear market bounce, the speed of which says 2015 sellers are still covering. The miners have had huge bounces. Looks like the corner's being turned.

Not My Real Name's picture

I'm cautiously optimisitic. Notice what happened the last three times gold crossed the 200 DMA? The PPT came in within a few days and beat it back down below that AND the 50 DMA.

midtowng's picture

Oh darn. All those barbarous relics I bought at $300 in 2002 are only up by 400% after doing a multi-year bottom.

lehmen_sisters's picture

The hammer has been in the shop for a while now, whonder whats up. On a sidenote, those junior miners have paid for themselves already. 

ParkAveFlasher's picture

You gotta love your junior miners, especially when everyone hates them.  I'm all in and riding the wave since December, baby!

FreeNewEnergy's picture

I'm looking for some mining stocks. Can you mention or recommend a few? Juniors would be good.

loveyajimbo's picture

"I'm looking for some mining stocks. Can you mention or recommend a few? Juniors would be good."

JMHO but I like GORO and KLDX, maybe some CLGRF  Do not place market orders on the last two, limit only.

HK's picture

@FreeNewEnergy

Throw this out here, I’ve been a subscriber to this site for a few years and appreciate someone doing the numbers for me.  The basic site is free, click on companies, for some more info, it’s $99 a year, not going to break the bank.  For disclosure, I have no financial interest in this site:

www.goldsilverdata.com

 

 

lehmen_sisters's picture

I own AXU and KGC...I would recommend AG ( First Magestic ) and KGC ( Kinross Gold ) . Very liquid, high cash reserves. Would buy on a dip...if it comes. 

Canadian Dirtlump's picture

This is welcome news as a stacker, but in reality until the system is broken, we are still subject to someone selling a quillion contracts into the market.

 

However, for now, I'll celebrate silver being worth over 15 dollars while understanding there should be a zero painted on the end for it's price.

TheProcinctu's picture

Here are some ways to profit, depending on your risk level, and trading plan.

http://procinctu.info/money/silver-2016/

Budnacho's picture

The Monkey hammer Comeith...

SgtShaftoe's picture

That's fine, it will just confirm the cup and handle.  Then all the algos will see it and go nuts. 

OregonGrown's picture

Silver Topped out

Silver Bottomed out

 

 

tmosley's picture

Paper price matters

Paper price doesn't matter

SumTing Wong's picture

Mine is still sitting there in the safe, not even concerned about all the shit hitting the fan in the financial world. Is it worth more...well, it has always been precious...

RadioFlyer's picture
RadioFlyer (not verified) SumTing Wong Feb 8, 2016 11:08 AM

One will always have some kind of value, the other you can use to heat your house for 15 minutes.

 

I wouldn't advise eating either one.

Took Red Pill's picture

Wish mine was. Lost it all in a boating accident.

tc06rtw's picture

   
     …  Titanic ?

Took Red Pill's picture

 Gold & Silver, the only REAL money there is!

blueRidgeBoy's picture

just ask the Venezuelans, poor bastards...

Azannoth's picture

1 Silver Eagle = 1 Toilet Paper roll

cpnscarlet's picture

Right on time Tyler - now the drop.

We were going up too fast anyway.

aliki's picture

wow - if i didn't know any better, it seems like the world is waking up to countries counterfeiting their own currencies into oblivion to finance endless debt/deficits.

whoda thunk???

Seasmoke's picture

So Not even Tyler Gold posts , can stop Gold & Silver rising .....it must mean it's truly different this time. Gold > 20,000USD. 

Uncle Sugar's picture

PayPal says it's old money.  Get yourself some new money!

Hugh G Rection's picture

Digital money is sooo kewl and trendy!  What could go wrong?

iggenFlot's picture
iggenFlot (not verified) Feb 8, 2016 10:50 AM

Plan on a short term gold trade, but be ready to unload it as gold continues its multi-year slump later this year.

By 2030-2040, gold will be a solid long play for physical holders.

OregonGrown's picture

PERFECT..... just in time for retirement!

iggenFlot's picture
iggenFlot (not verified) OregonGrown Feb 8, 2016 11:00 AM

Exactly! Far better to be priced low during the accumulation phase. I live in Chicago now, but went to U. of Oregon in Eugene. What part of Oregon are you from?

OregonGrown's picture

Born and raised in Eugene..... Now i live an hour south in Roseburg.... Only 5 dispensaries in the whole county here because of Prohibition via too many rules and regs.... Perfect place to control the marijuana market while monopolizing the marijuana businss here in Douglas County!  Love the Chicago area.... stayed in elmhurst for a few months for a HVAC job i did in downtown Chitown.....   That is where i met my then future ex-wife.

ParkAveFlasher's picture

Fags in the shower!  Fags in the shower!

iggenFlot's picture
iggenFlot (not verified) OregonGrown Feb 8, 2016 1:37 PM

Gotcha. Not sure why folks are down voting your auto biographical info....

lunaticfringe's picture

20-30 years? It ain't gonna take that long. It never has. 

SoilMyselfRotten's picture

Measured in dog years and it won't take that long!