Silver Spikes To Key Resistance At One-Month Highs As Dollar Dumps

Tyler Durden's picture

Silver (and gold) pries are surging today as the dollar index tumbles by the most in 2 months. Silver futures have spiked almost 4% to their highest in a month to the 100-day moving-average.

The USD Index is tumbling - by all appearances - on Trump gains...

 

Sending Silver soaring to 1-month highs...

 

And key resistance at the 100DMA...

 

And while gold is rallying also, Gold/Silver has droped back below 70x...

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Automatic Choke's picture

stacking silver

stacking gold

stacking platinum

stacking oil

stacking vix

 

Fizzy Head's picture

Silver Bells.... Silver Bellls.. Soon it will be Chri....  too early?

Deathrips's picture

This is a really sad and short story, but it gets better.

Many years ago I took up surfing. After a near fatal car accident, i had a complacent imbalance prohibiting me for enjoying my hobby and exercise. I tried everything from rehab rubber bands to weights to myopulse. This is when imagined a great idea...at the time it seemed exceptional. Silver could fix this!!

I would use rolls of silver maple leaves in my hands to correct this imbalance. At first it was hard paddling with both hands full of Silver maple leaves. After time, blood sweat tears and pain..I finally got back up!

The unfortunate part of this story is all of my silver was lost; however, this was a small price to pay for my passion back. Besides silver is heavy and it would be prohibitive to my aspirations of endless summer chasing.

Shark Pro tip..when your hands are occupied, grab the board with your mouth.

RIPS

PS..if the little mexican kid i saw running away with one tube while i was chasing my board back to the beach reads this....thank you for inspiring me to do better! You DESERVED every bit of it!!

PPS....Juan That_1_Guy chasing you down the beach understands his mistake now!

PPPS...Boating accidents are soo stale and im responsible for a majority of the inground coastal silver wealth of baja!! Put that in your pipe and smoke it!

Manthong's picture

“What about ammo?”

If you can haul all of your ammo on a two wheel dolly…

you do not have enough.

 

Manthong's picture

If it takes a two wheel dolly to haul all of your monster boxes and bars of Ag and whatever you have of Au and Pt, you are probably in good shape.

Manthong's picture

If you have more than five red monster boxes, you need a pallet lifter.

And I offer comprehensive security and protective services to you.

Maybe a few women, too..

Deathrips's picture

Ammo and saltwater dont mix. Dont ask me how I know this.

 

Ammo pro tip. If it all fits in one full size car...you dont have enough.

 

RIPS

 

BandGap's picture

You need to get the lead out.

AmandaFawndel's picture

LOL,

 

A guy in Union WV gave me some BUY TVix advice about 3 months ago. I'm glad I didn't take it. I just did get 10K in shares though. I'm up nicely so far.

 

Is that you John?

DogeCoin's picture

Silver is Constitutional money. We can make it so once again.

Squid Viscous's picture

Long Dong Silver, away!

RadioFlyer's picture

Smackdown begins after midnight.

Nothingman's picture

The dollar is crashing as the odds of a Trump victory increase.  Is this a tell that the house of cards that is the market will be "pulled" if he wins?

tmosley's picture

Correct. A Trump victory is a victory for everyone who has bet on a return to an honest system, PM investors included.

I expect to close my silver position within four years. Likely for gold, maybe for gold dollars, or a move directly into productive capital/now universally despised stocks (that pay a large dividend for their price).

RawPawg's picture

Master Sousa

He's A Happy Man...for the moment

3LockBox's picture

Perhaps...

However sometimes it can be bitter sweet as it takes more worthless funny green paper for each oz.

If he exchanged all of that green tp last week like he planned to do a 2 weeks back I am sure he may have exposed a grin today, raised his fist and shouted "Death to the moneychangers!".

 

Kaiser Sousa's picture

DEATH TO THE MONEYCHANGERS.

 

fixed it 4 ya.

Kaiser Sousa's picture

even though i point out the on a daily the fraudulent paper prices...

it means nothing until their genuine VALUE r obtained...

meaning, those who would not learn wont be able to afford either...

 

RawPawg's picture

yeah,i think small,and in the moment

i'm just a tad bit smiling to see a $18+ handle

ain't sweating the future truer amount...it will happen

LawsofPhysics's picture

Yeah yeah, talking about "prices" in the absence of true price discovery is a fool's errand.

Only one rule applies now; "when fraud is the status quo, possession is the law"

applies to all physical assets as well as productive capacity.

flemsnopes's picture

Wait! Janet hasn't announced they won't be raising rates at this meeting yet! This will ruin everything!

rp2016's picture

It's a wrong call ZH. Prices of gold and silver going up because The Evil Plan B seems to be faltering. Signs of Trump getting elected. However, if it goes too far up then it also signals that Trump will fail. Let not these prices go up a lot.

http://just-a-thought-from-thinair.blogspot.com/2015/05/hypothesis-40-di...

Soul Glow's picture

Yesterday Gartman made his most vocal call ever, even envoking Tyler and Fight Club to do so..."What is that place called?  Tyler....Tyler Durden.  Who are those guys??"  

Zero Hedge Dennis.  Fucking Zero Hedge.  Say the name with me Dennis, "ZERO HEDGE."

And the call?

Long dollar.....but short gold in dollar terms, long gold in fx, because, "Why would I want to buy something using a strong currency when I can buy something using a weak currency?  Imminently sensible to do that [buy gold in fx]."

Well Dennis, it seems you have played yourself once again.  The best trade for today would have been to buy silver in dollars.

And for that we thank you.  And for anyone that missed it here it is in all it's glory -

Dennis Gartman: "Zero Hedge Needs To Cut Me A Break"

http://www.zerohedge.com/news/2016-10-31/dennis-gartman-zero-hedge-needs...

Soul Glow's picture

And just in case you were wondering Gartman, do not fuck with us -

https://www.youtube.com/watch?v=wEdgzndKuog

ParkAveFlasher's picture

Gartman's calls:

> yes rate hike in December

> don't bet against China!

> bullish dollar

> gold: higher

Gartman's fades:

< no rate hike in December

< bet against China!

< sell dollars for anything!

< gold: lower :(...

Soul Glow's picture

Gold is flat vs the euro today.  So Gartman gets nothing.

RAT005's picture

I'm trying to remember how far back the October 31 interview was......oh yeah, yesterday ;-)

Clock Crasher's picture

Gartman is part of the ZeroHedge family whether he likes it or not.

Squid Viscous's picture

good one... in related news Faux Business just jumped ahead of CNBS in the ratings, maybe because of perpetual ass clowns like Gartman and Cramer and, fill in the blank

SumSUN's picture

I bought my first palladium maple
recently.
Gotta diversify bitchez ;)

Alberich's picture

Hey folks,

1) why does gold top-tick 1% exactly before falling off? Except for that one time it top-ticked 2% exactly.
2) what happens when it stops doing that?
3) why did this ramp begin yesterday on no news?

Wonder if those answers might all be related somehow.

Clock Crasher's picture

No no no they got my instructions all wrong Dollar was supposed to go to 99.99 then sell off

TalkToLind's picture

 

<-- Janet raises her labido
<-- Janet raises rates

Herdee's picture

I double-dare anybody here to put their hard earned money with Gartman.

GoldHermit's picture

My hard-earned money goes straight into bullion. Better be stackin'

AmandaFawndel's picture

What's the COT say? Wake me up when the comms are Net long, otherwise this is just the comms setting up the long specs for another SPECtacular shearing...

Phyz Stacker's picture

To my fellow ZH'ers...Buy as much PM as you can afford.  Pay off all of your debt.  Do not allow anyone to own you.  Most of all,  preserve your 2nd Ammendment right.  Its about to get ugly.  God bless.

PS