Gold Spikes Above $1300, Overtakes Dow Year-To-Date

Tyler Durden's picture

For the first time since early June, Gold has just broken back above $1300, continuing to mirror the ebbs and flows of USDJPY (which just snapped below 109.00).

Is 3rd time the charm?


Gold is now outperforming The Dow year-to-date...

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BaBaBouy's picture

HFT Robot Paper Dumpers are Warming Up ...

OR maybe its Different this time ?

Budnacho's picture

Whats the time?....Hammer Time!

eclectic syncretist's picture

Gold is breaking out of a long-term downtrend going back to the late 2011 all time high, so this could be significant.

The indices are looking dangerously mushy at the moment, ripe for the pounding without intervention.

edit: and as if on que someone sells a buttload (nearly a million ounces) of silver at 9:50

American Psycho's picture

When is the notional dump?  Monday, Tuesday latest?

eclectic syncretist's picture

Someone just dumped 600,000 shares of paper gold at 10:21AM. Guess they couldn't wait. They must be worried.

Justin Case's picture

Dumps start at 14:00-14:30 EST

actionjacksonbrownie's picture

Miners have been saying "no breakout" all along. $1300 is another big nothingburger.


Price meet hammer.

tropicthunder's picture

Exactly. XAU / HUI / GDM have all been telegraphing "no imminent breakout" in gold since earlier this year. Right on cue, the boys just drop kick gold in the balls yet again. 

Give Me Some Truth's picture

Who are the "people" who are buying and then selling and shorting all of those mining stocks and mining funds? They do seem to know something before everyone else.

MFL5591's picture

Gold up till the US cesspool opened!

Justin Case's picture

$1300.00 and hold that for 3 sessions will be the breakout for gold.

The DOW transport index has diverged from the DOW index.

Give Me Some Truth's picture

"They" can take down gold and silver any time they want to or need to. Or, if they are just bored and can't think of anything else to do, they can knock prices down.  I mean who is going to do anything about it or even say anything about it? Give Me Some Truth on Zero Hedge's message board? (Ha! Cute fellow. You just go for it and say your litte piece, alright? Vent all you want. Feel better? There now. So we will see you again tomorrow, okay? We'll have something for you then too.) Returning to post proper ...

"Sentiment" for precious metals has been atrocious for years now.  No "real" investor would consider buying gold or silver. If it does ever go forward one step, it quickly goes six steps back. Gold and silver are no longer on the radar for "the man on the street." Your grandfather who believed in silver and saved all of those pre-1964 coins is long gone (may he rest in peace). His grandson is clueless about the debate between fiat currencies backed by only "faith and trust" and "real money."

The people/nations/funds/banks who COULD move the market up in a big way are all "all in" on the fiat regime. Gold and silver rising is the last thing they want to see. They despise both monetary metals. They are not suddenly, out of the blue, going to start buying the stuff in large quantities. Plus, this would get them kicked out of the "club" faster than you can say "Mustprotecttheprintingpress."

ReturnOfDaMac's picture

Nice monkey, got your hammer?

tropicthunder's picture

Yep, again right as gold bulls start foaming at the mouth, the Shyster-Bankster-JooBoys just come right in and beat the living shit out of gold. No doubt under orders from the Fed, BoE, WGFM, TPTB to smash gold and ramp index equity futures. All the while, BTC holds steady and grinding higher. Long BTC - Short XAU

holgerdanske's picture

It will have to come.

I am warming to bitcoin, but I still have some problems. Is you wallet un-hackable, is the cryptography strong enough, can the net be trusted and more of that ilk, plus the lid of 21 million coins.

I think Bitcoin et al will be a valuable addition to the mix, if people will start using them as currency between themselves, then it is just a ledger of work owing. And it will be something the state hopefully cannot regulate and control or tax.

The deepest anchor will have to be physical gold. That is tangible, holdable, and rare, which ever way you look at it.

This is the conclusion all must come to, when the wheels come off.

But I need to know more about Bitcoin in any case.

lester1's picture

Coinbase is a great place to safely buy Bitcoin. Bitcoin is doing what gold should be doing. I was skeptical at first but it's a great place to park your money outside the system that's being manipulated.


Central Banks haven't yet figured out how to short or manipulate Bitcoin.

A82EBA's picture

buy bitcoin on coinbase then transfer to paper wallet from, print it out, put in ziplok bag and store in small fireproof safe

Justin Case's picture

Bitcoin can’t be hacked because of the blockchain? There are a million ways to hack Bitcoin. The exchanges can get hit, which they have, spoofing the ledger through MAC, IP and wallet address hijacking, man-in-the-middle intercepts posing as nodes, and ping-of-deaths to bring down specific servers. Remember that for years, Apple was adamant with hype about their “unbreakable security” too.

“Secure” thing isn’t what we all think we understand. Most of the arguments are people who don’t understand the tech regurgitating the talking points that charismatic YouTubers don’t really know how to say anyway, but they have nice voices and pretty faces so BAM! Their word is doctrine (even if it is severely lacking in function).

Cryptocurrency is private, out of central bank and government control?  This seems to be the second other selling point that can bring otherwise normal people to throwing punches. The government can and does all the time shut down websites, confiscate phones and computers, and performs bit level forensic analysis on those devices. If you are a big enough target, the whole privacy argument gets thrown out the window. Not only that, but just as sure as the bitcoin use, adoption and prevalence increases, so do the measures taken to attack the whole privacy issue. And when the government goes full bitcoin bananas because the deficit is spiraling out of control, tax revenues are decreasing, the value of the dollar is falling and the Fed has overshot the 2% inflation rate by a mile, you can be assured that governments will get up to speed very fast on all the ways to peel back any layer of privacy they want.

Now you can reverted to the whole “well, that’s just what you think because you tell me to buy gold and silver”, and “silver isn’t private either”.

jorel2's picture

your enumeration of the 'million ways to hack Bitcoin' only included 4 or 5.  I'm a software developer and a BTC owner and I feel very confident that my wallet will not be hacked (Trezor hardware wallet).. as far as adoption, we are still in early early phase.. let's give this thing a chance - it has the potential to make the banks almost obsolete.  Government cannot control it without showing everyone their true colors - that's something they cannot afford to do.  And their level of control would only extend to exhanges - there are many other ways to get bitcoin and use it.  Exchanges can exist outside 'government' control anyway.  don't be pissing on BTC just yet my friend.

LawsofPhysics's picture

Yes, and I know two very capable programmers that went to work for JP Morgan  in 1994 to work specifically on digital currencies. Primary dealer banks have had access to all the legal tender they want since 1971, they still do.  They can in fact buy/create whatever the fuck they want (including digital currencies).

Don't overthink this, absolute power corrupts absolutely.  Digital currencies are subject to the very sames "rules" that all FIAT currencies are subject to.

People must accept your payment in exchange for the product of their labor.  When your government demands/forces you to make your tax payment in some digital bullshit, then you will know the truth.


"Full Faith and Credit"

same as it ever was motherfuckers.


By the way, stop confusing what primary dealer banks want to do with what a true "government" or republic should be, fucking moron.

Antifaschistische's picture

All the Federal Government has to do, is declare that blockchain bits fall under the Federal law that prohibits metal bit creation.


Federal law prohibits people from making metal coins “intended for use as current money.”1  Creation of souvenir coins not intended to act as currency, however, is not illegal.  People have, in fact, recently created coins meant to be used in very small local communities in Marin County, CA.2  Many people buy such coins as souvenirs, and others use them at a handful of local businesses that have agreed to accept them.   Some have argued that such coins are not “intended for use as current money,” because they can only be redeemed at a handful of local businesses.  This may, in fact, be a valid argument, as described below.  It is also important to note that federal law only prohibits the creation of metal coins. Some groups have contemplating making coins from wood, clay, plastic, or other materials.


18 U.S.C. § 486 – Uttering Coins of Gold, Silver or Other Metal: “Whoever, except as authorized by law, makes or utters or passes, or attempts to utter or pass, any coins of gold or silver or other metal, or alloys of metals, intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design, shall be fined under this title or imprisoned not more than five years, or both.”  Note that 18 U.S.C. § 491 also addresses the creation of coins, but this particular code section prohibits the creation of coins or the use of similar metal objects for the purpose of inserting into parking meters, vending machines, and similar venues. 

Blue Steel 309's picture

If you said you were an electrical engineer (or even software engineer), I might accept that you know what you're talking about, but you didn't say that.

c2nnib2l's picture

wait 5 minutes get ready for a hammer 

c2nnib2l's picture

I took my profits this morning ;) was holding that PAPER GOLD since 1214 ! 300% 

Pool Shark's picture

So, what made you decide to sell after 800 years?


eclectic syncretist's picture

Maybe he's getting old enough to contemplate retirement LOL

Dp909rev's picture

Thanks for making me spit food everywhere.

quadraspleen's picture

You, sir, are part of the problem

Justin Case's picture

Oh well. No one ever lost money taking a profit. This is the second inning just starting in this bull market.

AC_Doctor's picture

Silver getting butt forked. The Central Banks are trying to keep silver under its 200 day moving average.

SumTingWongJr's picture

help me, here come the judge

Dirtnapper's picture

Silver is the key, they will do whatever it takes to keep it down until their last breath.  Good news is there are more then one ICOs coming out that will aid in the *transportation* of physical silver that will break their death grip.  Gold will follow some time later.  Yes, cryptos will be what sets silver free!

eclectic syncretist's picture

They'd better get those monkeys some new and better hammers because silver is on the cusp of breaking out of a long-term downtrend going back to February of 2012.

Proofreder's picture



Wake me again when Ag hits $30.

Justin Case's picture

The Central Banks are trying to keep silver under its 200 day moving average.

Going forwards, India-China operated digital gold wrapped in blockchain technology will be the undisputed currency of the world gold community, a 3-billion-person-strong titanic force.... This is the beginning of the end for world gold price manipulation, and you can take that to the bank.”

Gold-market manipulation, the story that gold has been subject to a long-term price suppression scheme is easily debunked.It's easy to point out that all markets, including the gold market, are manipulated. They always have been and they always will be. Presenting evidence that the gold market is manipulated is like presenting evidence that the Earth revolves around the sun — it's true, but useless information in this day and age.

Evidence of gold-market manipulation is not evidence of long-term price suppression. Yes, if long-term price suppression was evident, then it would be an example of market manipulation, but market manipulation generally does not involve long-term price suppression. I purchased gold for $284.00/oz. That is far below the current manipulated price today. You cannot purchase gold anywhere in the world for $284.00/oz. Does this indicate that the price is being manipulated up? If they are holding the price down, then they have failed miserably.

cynical_skeptic's picture

nobody complained about manipulation when gold was rising double digits every year for 11 or 12 years since 2000.

Justin Case's picture

Only the shorts.

If you pull a 10yr chart you can see how gold continues marching up. Day to day they can manage the price, but long term has never changed, always up.

Arrow4Truth's picture

I get your point but... I don't take anything to the bank.

agstacks's picture

Not to worry, ye ole 5 billion dollar market order will hit here in the next few trading days. 

buzzsaw99's picture

i am surprised how well it has held up (thus far) this year.

Silver Savior's picture

Still way bellow what it's worth.

Justin Case's picture

Some miners are stock piling ore to mill later. They are focused on drilling to expand resources. When the availability of physical is hard to aquire, the real price will be different from the CRIMEX paper price. Paper gold and silver is like showing a starving person a picture of food.

TheLastTrump's picture

AG + 1.3% 6:29 am PST sweet