Gold Spikes To $1275, Above Key Technical Level - Highest Since Election

Tyler Durden's picture

With Trump threatening North Korea, Putin on the tape over Syria, China threatening 'red lines', and French poll data sparking panic across the pond, it seems safe-haven buying is suddenly de rigeur as Gold tops $1275 for the first time since the election, breaking above its 200-day moving average...

 

 

With Gold now up 10% YTD...

It seems bullion (and bonds) beat banks again.

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American Psycho's picture

Next stop gold 1300 or 1200? 

Bring on the monkey hammer.  TPTB can't allow real currency to prosper.

shizzledizzle's picture

Was about to say, get ready for a big hammer. Last friday was a absolute fucking joke. Almost as if millions went to lunch and decided they didn't want silver anymore.

TeamDepends's picture

Say goodbye to $17 silver, and their ability to hammer smackdowns is also coming to an end.

tmosley's picture

I'll believe that when I see it.

Maybe when Chicago gets hit by a Chinese ICBM and the COMEX becomes a smoking crater.

auricle's picture

Forcefully breaking the 200DMA...Bullish! Need to hold above 200DMA for the weekly.

AllThatGlitters's picture

It's already pulling back:

Live Gold: http://www.pmbull.com/gold-price/

Is it different this time?

Silver not keeping up:

Live Silver: http://www.pmbull.com/silver-price/

So does silver catch up to gold, or does gold catch down to silver?  Usually it's the former, no?

Creepy_Azz_Crackaah's picture

Gold keeps flying overbooked United flights up.

Franklin Mint Chip's picture
Franklin Mint Chip (not verified) AllThatGlitters Apr 11, 2017 12:36 PM

Further proof that gold is "too volatile" in USD terms (enter scary Dracula music). Buh some goddamn Bitcoin instead.

https://localbitcoins.com

sirsmokum's picture

b b but..... FONESTAR!!!!! HA!!!!

-babyboomers

Franklin Mint Chip's picture
Franklin Mint Chip (not verified) sirsmokum Apr 11, 2017 12:51 PM

Fonestar? Who is that guy... sounds like some major douchetard....

Hongcha's picture

Noting some healthy pessimism among the crowd on this thread ... everyone assumes another beating coming ...

Bay of Pigs's picture

It's been this way since 2011 and the Boston Bombing false flag and gold smashdown.

mayhem_korner's picture

COMEX is already a smoking crater...an ICBM would just allow everyone to peer in and see the void.

FreeShitter's picture

R u serious? They can hammer the shit down in a blink of an eye...that being said pm's must make baby steps.

NugginFuts's picture

$400 billion of notional dump coming up right at European close..... Like that kind of hammer?

Evil Bastards Playbook 101

Philo Beddoe's picture

Yes, a very tiny one legged blind baby. 

assistedliving's picture

blind baby was quite enuf Mr. Beddoe

tmosley's picture

Hey, if we have a nuclear exchange with North Korea, maybe it will go over $1300!

If China gets involved and the US mainland gets nuked, it might even hit $1350!!!

VD's picture

yeah but by then DOW will be crossing 30k easy. and TSLA will be at 10k a share with zero sales. so......

auricle's picture

These markets are so sedated they won't respond to anything. Syria strikes and gold has a $3 dollar day? Then the next day PM's dump? I'm thinking shake out. There's no way gold doesn't march higher in these conditions of war tensions. 

nmewn's picture

The good news is China probably didn't share the guidance system it bought with a simple campaign donation to Bubba with the Norks, out of fear the pot bellied sociopath would target them.

I'm-Jus-Sayin!

RIP Ron Brown  ;-)

Chandos's picture

I still want my silver ( and muh gold too )....I'm even looking - as I write this -  in the general direction of the very lake  it's in...

NugginFuts's picture

<--- did someone want the monkey hammer?

I don't think you want the monkey hammer.

Haus-Targaryen's picture

Gold and silver will be suppressed until either:

1) The system collapses; or 

2) Physical market runs out. 

And even then, even if the market dries up they'll payout in cash and most people won't care at all. 

 

Cole The Bar's picture

Keep stacking. Just keep stacking. Ignore the swings and steadily stack on!

Haus-Targaryen's picture

I've been doing this for years.  

I hope everyone has purchased in cash and not with a CC. 

SJEqualizer's picture

Purchase on Goldmoney.com with credit card.  Get 1.5% cash back.  Pay off credit card every month.

It works.

Haus-Targaryen's picture

There is now an electronic trail directly to your front door. 

Not worries about confiscation, but windfall profit taxation. 

JackT's picture

Only terrorists have barbaric relics.

Takeaction2's picture
Takeaction2 (not verified) American Psycho Apr 11, 2017 12:06 PM

Great...I will be PM wealthy...but burned to a crisp from the ICBM's. 

Philo Beddoe's picture

You can yell I WIN just before being vaporized. So, you got that going for you. 

Mr. Universe's picture

Imagine total consciousness at that moment. Too bad it will play the nuke scene from Armageddon...hey that's not my beautiful life...Letting the days go by
Let the water hold me down. Same as it ever was.

Chandos's picture

I'll scream ''Top o' the world! Ma! ''

StackShinyStuff's picture

The gold will survive.  Maybe the cockroaches will find a use for it.

MrBoompi's picture

Exactly.  When you see the "good news" about gold jumping up, the naked shorts are being created in the back room.  

Chandos's picture

''Naked shorts in the back room'' sounds really gay somehow...

Raffie's picture

They wacked gold back down to the 1270 mark.

I CAN NOT WAIT TILL THE POWERS THAT BE LOSE CONTROL.

Gold an Silver price will go nuclear would be SO SWEET.

Hard for me to stay positive about the price going up since we seen many years where the price gets toasted and crushed big time.

1 dollar up and 100 dollars down kind of dance.

My stack and I are ready for that ONE great day.

 

The central planners's picture
  1. If silver its not doubling gold's performance then this is just hotair.
GunnerySgtHartman's picture

I think that this time, it touches $1300 and then we seen a few billion in notional dumped on the market, pushing prices down to the $1225 range - but the day is coming when demand for the real thing will utterly destroy notional.

lester1's picture

A big  FUCK YOU to you gold and silver price manipulators and short sellers out there !! 

And FuCK YOU to the manipulators at 33 Liberty Street, NYC !!

 

Gold and Silver and AUY stock are going much higher !!

 

SomethingSomethingDarkSide's picture

Mwahahahahahahahaha 

"Rise my pet, RIIIIISE!" - Rita Repulsa, Power Rangers

Because that's a cool person's reference.  Yeah.

1000 splendid suns's picture

Wake me when those $50k predictions get close..

2_legs_bahhhhhd's picture

With the interest on the debt rising at 6mil/hour it should be $12,750

nachochan's picture

It must be the weather causing this sudden market downturn and race to safe havens.  Or maybe it was because of a UAL you tube video.  Either way the market will go higher Larry Kudlow promised.