Gold Spikes On Heavy Volume As 'Memo-Gate' Fears Spread

Tyler Durden's picture

While the dollar is treading water in aftermath of NYT's 'memo-gate' story...

 

Another safe-haven is heavily bid. Over one billion dollars notional just pushed through gold futures, lifting the barbarous relic to 2-week highs...

 

US Equity futures are fading...

At the very least the view is that Trump’s economic policies will be delayed over this, and the dollar is being sold,” said Tomoichiro Kubota, an analyst at Matsui Securities Co. in Tokyo. “At the moment there’s a strong sense of investors trying to gauge how far this will go. It’s a situation where you can’t completely rule out the possibility of impeachment down the road, so it’s difficult for investors to buy.”

 

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tmosley's picture

>Up $6.50

Wow, bitchez better call dey mammas.

HelluvaEngineer's picture

Yeah, this is just stupid.  Gold won't go up until it does.

knukles's picture

I'm going to rub myself all over with garlic.

milking institute's picture

It works but be careful,ever heard of garlic dick? it's bad!

giovanni_f's picture

The uncommercial naked longs feed the commercial naked shorts all the while the mining companies keep on delivering their produce at casino-determined prices to the banks.

Rejoice serfs and enjoy this short-lived paper gold dead cat bounce. Not before the last of you pseudo gold bugs will have been taken to the woodshed will there be a bottom in. But for now, rejoice...

meta-trader's picture

she was a waitress in a cocktail bar now she owns a jet... http://bit.ly/2jdTzrM

Lets Buy The Dip's picture
haha u are funny. 

1 billion and 5 billion. LOL. There is no difference. 

I remember RAY talking about the the stock market, recently. What he liked...

Here is another great rendition by a very insanely accurate trader about the VIX the minor drawdowns and the low volatility and small ranges, on why this market could go higher.

Read here ==> http://www.bit.ly/2qpx4Wt

I guess the stock market is sky high, but that does not mean it has to crash....remember 2006 and 2007 we kept climbing....it was only when the bears gave up, we crashed. :-) 

chubbar's picture

No shit, big fucking whoop. Get back to me when it goes up over $100 in 15 minutes (like when they drop it by that much because 5 billion decided to liquidate in the most uneconomical way possible).

Barney08's picture

Falls like a drowning man catching manhole covers. Rises like it has 5 on its back

Jimmy Jimmereeno's picture

Another Tyler aftermarket clickbait article.  New Tylers, you can start to lose readership when you put spurious news like this up for public consumption.

Gold isrecovering from an "oversold" extreme low in the high $1220s.  Anyone who buys into the sensationalist headline about a spike - in this case an overnight $8 move - is either uninformed or a fool.

Jimmy Jimmereeno's picture

Furthermore, anybody and I mean anybody, who talks about nominal USD volume - or for that matter the equivalent number of Comex futures contracts - and who thereby implies market significance is an ignoramus.  A total ignoramus about USA commodities futures exchanges, commodities futures law, and commodities futures traders' motivations.

HelluvaEngineer's picture

I -1'ed myself because you guys are fucking retards...and then the page froze, because the Drupal developers who handle this site are fucking retards.

2_legs_bahhhhhd's picture

1 billion d0llars to move gold 7 bux.... lmfao, that should vapourized by morning. A billion dollars doesn't by shit anymore

tmosley's picture

I'd mod you, but I have to stop scripts every five seconds.

Donate Moar's picture

"...and then the page froze"

YEP, EXACT same thing happens to me everytime I hit that GREEN up arrow.

Firefox bitches, and I reload the page.

WTF!? 

(I'll hold my thoughts about "software developers" since they can delete my ass (again) if I have loose lips.)

signed-

Burned out software engineer.

Squid Viscous's picture

long Trump toast and scrambled Kushner omellette

GUS100CORRINA's picture

President TRUMP is America's Nineveh moment.

If something happens to HOPE in this process, these markets are going to come DOWN and come DOWN HARD!!!

Just look at all of the articles and graphs that have been posted on ZH for the last 30 days. HARD DATA levels look like a real possiblity. By the way, remember all the MARGIN DEBT (400 Billion)? Once selling gets going, the CBs and the PPT may not beable to stop it. S&P500 at 666 would be a sign from GOD that messing with TRUMP presidency was a real bad idea. 

My greatest concern is that messing around with the TRUMP Presidency will result in a BLACK SWAN event that will make all other crashes look like a day at the beach. 

If such a scenario was to play out, the CONGRESS, SENATE and Judges will be fleeing for their lives.

FEAR can become a powerful OPIOID when it replaces FAITH.

thesonandheir's picture

Idiots, don't they know gold is risky as hell? 

 

Best off in safe tech stocks, looking really undervalued at the minute.

American Psycho's picture

I hear the smart money is long the NASDAQ in the event you want to liquidate some physical..

Shlomo Scheckelstein's picture

We keep the physical and sell the paper..

nrse82's picture

London fix will take care of that tomorrow

Shlomo Scheckelstein's picture

Don't worry we throw some paper contracts at it and it will bend over like a fig leaf. Thank me later hehehe

Quinvarius's picture

If it is going up on something as stupid as this, it was going to go up anyway.

knukles's picture

That might be the best explanation in the entire universe; learned, worldly, cynical and happy.

Secret Weapon's picture

Seven bucks up on a $1200+ price is not a spike.  It is a rounding error. 

kenny500c's picture

Until it takes out the 2011 high, if it ever does,  it is still a bear market.

joego1's picture

Round it into my stack thank you.

Soul Glow's picture

Barbarous like Conan the Barbarian!

My Days Are Getting Fewer's picture

At least ZH tells you how much paper was behind the move.  Be grateful for the info source.  Otherwise, how would you know.

Rubbish's picture

It's really not an issue until the players decide, maybe I should stack $20-40 million physical, just in case. Then we gotz a problem.

 

Gold Bitchez...I pick up pennies

SkunkyBeer's picture

I love this Trump guy. Sure, he's a semi-literate troglodyte, and sure, he's a world-class douchebag, but every time he opens his big fat flabby pie-hole and inserts his foot, the price of gold heads up and to the right.

 

At the rate he's imploding, we're looking at $2,000 / troy ounce in the next year or so, and that makes me very happy. The only thing that could make me happier is if he gets even dumber and MORE incompetent, sending gold to $3k / oz.

knukles's picture

This shit's not even funny anymore.

Stock tip: Benzodiazopene manufacturers

The Real Tony's picture

I'm thinking the Chinese will step up to the plate when gold hits the $25,000 an ounce mark and drive it to $100,000 an ounce 6 months later.

lester1's picture

Fuck you Tyler's!.. President Trump isn't going anywhere!!

 

Did George Soros buy Zero Hedge ??

knukles's picture

He didn't stay at a Holiday in either, the prick.

Shlomo Scheckelstein's picture

Tyler is dancing to our tune now, he likes them shekels also.

jmack's picture

Comey da weasel, comes thru again

 

El Hosel's picture

Oh yes, the machine is going to stop rigging everything because of something POTUS does?  LOL!

undertow1141's picture

Article-Gate!!!!! The avalanche of bull shit is going to kill us all......

chosen's picture

Dow futures are down 100 points.  What's up (or down) with that?

c2nnib2l's picture

Hammer Time 5, 4, 3, 2, 1........

Ricki13th's picture

Perfect opportunity for the deep state to tank to market and blame it on Trump. They are already raising rates to kill what remains of this economy.

DennisR's picture

I welcome our new President Pence overlords. 

Pop3y3too's picture

They can't shitcan Trumplestein. By default wouldn't all his relatives have to go with him? Oy vey! I'm gonna miss all those perfect cheekbones.

Chipped ham's picture

Absolutely a click bait headline. 1 zillion notional down, 1 billion up. Whatever. 

Soul Glow's picture

If you don't like to read financial articles why the fuck do you come here?  Please go back to 4 chan and come back when you have something to say.

The Real Tony's picture

Is this the week when we finally get at least a one thousand plus down day on the DOW? Like this Thursday?

buckstopshere's picture

The sky is falling.

ronthefisherman's picture

Where can I get a bet on that President Pence will be running the country with 6 months - and Donald Trump will be in deep shit fighting to stay out of jail...!

I expect Pence to last about 12 months before he is removed for pedophillia...

(fuking godbotherers...)