Gold Tumbles To Key Technical Support As Dollar 'Dead Cat' Bounces

Tyler Durden's picture

The Dollar Index is spiking phoenix-like from the flames of collapse this morning on the basis of one jobs number (and still-low Dec rate-hike odds). Gold is reacting to this kneejerk, tumbling over 1% and testing down towards its 50- and 100-day moving-average support...

We have seen this kind of squeeze in the dollar index before (cough last week after The Fed's plunge)...


But gold is breaking down - running stops below the week's flash crash lows and testing towards its key technical support...

Gold 50DMA at $1259.20, Gold 100DMA at $1260. Gold 200DMA at $1244

Stocks just  dropped into the red post-payrolls...

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Bill of Rights's picture

Silver too getting butt blasted...

Clock Crasher's picture

First Majetic meltdown -12% crashing through seven deep into the six's

Someone was saying something about a new coming gold standard?

Long cryptos

Short monetary metals

tmosley's picture

Pretty much. BTC up 3%. Once it breaks the ATH, it will probably shoot up again, now that the fork drama is behind us.

Soul Glow's picture

I'll trade you 5 tulips for one BTC.

Clock Crasher's picture

I'll take that bet.

Then I'm trading those 5 tulips for 5 ounces of silver.. or 5 ounces of gold at this rate.

Eager Beaver's picture

I am selling physical silver and gold for Bitcoin.

Just kidding, looks like those metals are in "bubble" territory. Ha.

c2nnib2l's picture

I can tell by looking at your profile photo 

tmosley's picture


I would pay a bitcoin to have any references to tulips in these threads permanently banned though. It is a fundamentally flawed comparison, but morons keep spouting it like it has some kind of relevence. Waste of everyone's time.

JRev's picture

Now they just compare it to 90s tech equities which is just as flawed a comparison. 

Golden Phoenix's picture

You could have gotten 10,000 in exchange for a pizza little more than seven years ago. Now one will cost you $3000 and 10,000 cost $30,000,000. But you're too smart for that. 

tropicthunder's picture

If BTC can jump over $3k this weekend, get ready to buy that muther fucker hard.

Soul Glow's picture

All manipulation has to do with suppressing gold.  That is the underlying reason for pumping assets like equity and bitcoin and pumping liabilities like bonds.  The reason is simple - gold is the underlying asset of all ponzi systems and the purveyor of the ponzi must flush out all buyers into other assets so he, the ponzi purveyor may walk away with the gold.  The ponzi purveyor's main goal is to walk away with the asset that nobody knows is available, while cashing out the bag holders with pretend goods good enough to shred into confetti.  

How do we know it's gold the ponzi purveyor wants?  Well, these money men have always fancied themselves as magicians, even calling themselves alchemists back in the day, changing lead into gold.  Then they changed paper into gold, finally changing it into ones and zeros.  This is what we are left with as the bag holders, while hundres of thousands of tonnes of gold suppossedly sit in private bank vaults being held "for governments".

So with basic logic it is easy to see the charade, though not everyone wants to figure it out.  It is much easier to walk around thinking about TMZ stories and falling for the american dream of one day buying a house than it is to realse buying a house means the mortgage is owned by a bank for 30 years on interest while they sit on the gold they stole in 1933 for pennies on the dollar.  Get rich schemes never work, and the ponzi purveyors played the long game.  

Clock Crasher's picture

Manipulation is to imply vunerability.  Someone would have exploited that vunerability by now.

Soul Glow's picture

The central banks did.  They convinced Franklin Roosevelt, from the banking family of the same last name, to steal all the countrymen's gold, and then convinced Nixon, put in power by Prescott Bush' political groups, to take the value of the currency off gold, effectively putting the gold in vaults with no use.  This meant that unless sentiment changed that gold sits unperturbed floors below the worlds largest bank as they gather dust.  This while the banks trot out economist after economist to say "gold is not money" and all it is is tradition.

Bay of Pigs's picture

You know your monetary history but most are so blinded by propaganda and new technology that they don't understand your rock solid arguments.

Ignorance on full display.

daveO's picture

The Asians are taking full advantage of the discount.

Justin Case's picture

If gold is not money, then we had better identify a viable hard-money alternative … and fast!

tmosley's picture

Who ever would have thought that actually getting out of the system means also getting out of gold?

Bay of Pigs's picture

Yeah, futures, ETF's and other useless paper products. Certainly not physical though. Ask people in Venezuela how they'd like to own a stack of it right now.

Golden Phoenix's picture

'Manipulation' is the word losers use to justify staying in bad positions. They externalize and find someone else to blame. Winners take personal responsibility, cut losses, and find something that's going up. Everything else you said is confirmation bias shit.

Bay of Pigs's picture

Care to make an actual argument in regard to monetary history or do you always just talk out of your ass on this issue?

Bay of Pigs's picture

ZH is overrun with anti PM trolls these days.

FreeShitter's picture

Ive been long cryptos since 2014, phyzz only....AG is getting fucking slaughtered.

Clock Crasher's picture

I'm done stacking. 

I'm done with miners.

If they ever go parabolic five or ten years from now more power to me.

USD and crypto from here on out for me.

Good luck to the rest of you out there.

AG and Silver wont be recovering from today for many weeks, just my .02

Take my capitualtion as bullish sentiment if you like.

I truly feel like I'm going to be ill.

No justice in the body politic nor monetary markets, nor should anyone ever expect any.

Raffie's picture

I been done stacking for a while now.

Got my cryptos and a few ICO's I invested in as well.

As much as I do love PM, gets OLD seeing it get pounded hard everytime the fake USD goes green. One day it will be over and that is fine with me. I will be ready for it.

So how many smack downs does this make for PM? Just asking so we can compare to the cryptos. BTC only been out since 2009 so the numbers should be interesting.

So far my investment in Tezos (got the bonus tokens as well) is about 4x already, but the Tezos network will not be done till Nov-spring of 2018. So excited about that. Make mad money on that and sell and buy silver. Silver should be down to $10oz by then they way it is hated.

Yellow_Snow's picture

My grandfather is fully invested in coal, mall REIT's, and US dollars...

Raffie's picture

Cryptos still pretty stable an will grow big time very soon.

Glad all my eggs are not in 1 PM basket.

Asset diversity (only diversity I believe in) people.


arkel's picture

Sigh.. Same old same old. Just keep adding.

man from glad's picture

Just wait until Trump hits North Korea. We'll see the mother of all gap ups.

ReturnOfDaMac's picture

Keep dreaming. Orange, dindu nuffin at the last rocket launch, the one before that or the one before that.  There is no military solution there.  Our beloved Sir Tweets-alot has the mouth of a lion and the balls of a mouse.  Release the monkey hammers ...

BetterRalph's picture

At 16.28 I'm stacking more today. If there's any in the trays...

Mementoil's picture

I'd wait for a while.
Don't catch a falling knife.

ReturnOfDaMac's picture

Yes indeed.  I like shiny, but I love CHEAP shiny.

Clock Crasher's picture

metal gap downs always come in pairs.

Silver will test technical lows which is no where near 16.anything

Bay of Pigs's picture

Silver hasn't seen $10 in a decade. And when it it was there briefly nobody would sell it to you.

Conax's picture

That's what BLS reports are for, man.

Happy paper. Lots of happy paper.

lester1's picture

Some billionaire should demand their physical gold and break that fraudulent COMEX !!


Then watch gold prices skyrocket. :)

SoilMyselfRotten's picture

They wisely prefer to buy at a discount

Justin Case's picture

break that fraudulent COMEX !!

Not possible. They have precautions built into the agreement. The CRIMEX has the right to settle in "CASH". Never a default. Contract is always filled.

ReturnOfDaMac's picture

That billionaire maybe has 100M in shiny, but he has billions in paper!  He wants his paper to stay high.  Not gonna rock that boat.

tmosley's picture

If it were possible, it would have happened by now.

If you try to do it in any kind of vlaume, you get a visit from the G-men.

You won't break their system by participating in it. Gold and silver are part of that system. Crypto is not.

Gold and silver will do well only AFTER the collapse of the system, and they won't do as well as the monetary asset that had the huge head start.

Raffie's picture

But they making to much money with paper PM mockets.

Why stop the gravy train?

cpnscarlet's picture

I'm covered. If the Ponzi ends, I retire on gold. If the Ponzi continues, I retire with social security. Go to hell all you moneychangers.

takeaction's picture

Good way to look at it....Thanks