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Gold Up $41, Hits Record $1761

Tyler Durden's picture




 

While the massive drubbing across risk assets has modestly subsided, the global investing herd has finally realized that in the absence of shifting money into bonds (or even in addition to), there is a certain shiny yellow metal that may be just as good a store of value (granted, inedible) that despite a lack of cash flows (and who needs cash flow in a fiat based exchange system which will soon be wiped out anyway), is probably just a good substitue and as of this night is providing 1761 reasons as to why it is becoming increasingly obvious that if anybody listened to Hugh Hendry's presentation from last year in which he suggested people panic, it is the central planners. Should the Fed proceed with announcing QE3 tomorrow in the form of Operation Twist 2, gold will likely resume it vertical ascent to $2,000 which may be breached as soon as Friday. Alternatively, should Bernanke keep mum and disappoint everybody, all bets are off, across every single asset class.

 

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Tue, 08/09/2011 - 00:17 | 1541184 reader2010
reader2010's picture

It's all planned, dude. 

Tue, 08/09/2011 - 00:23 | 1541224 Stumpy
Stumpy's picture

They planned to give me a boner?

Tue, 08/09/2011 - 00:25 | 1541235 Spitzer
Spitzer's picture

+.....whatever  Jimmy sinclairs next target is.

Tue, 08/09/2011 - 00:30 | 1541268 BaBaBouy
BaBaBouy's picture

 

$2K is a Heartbeat away...

CHINNEE have $2.5 Trill they need to get ride of in a hurry, before USA Wiemar...

Tue, 08/09/2011 - 00:41 | 1541308 BaBaBouy
BaBaBouy's picture

 

CFTC Data ...

COMEX Commercials are NET SHORT 287,634 GOLD contracts as of last Tuesday!

Thats 28.7 Million Ozs GOLD.

With a GOLD +$50 move They are down another 1.43 Billion !!!

 


Tue, 08/09/2011 - 00:51 | 1541351 HungrySeagull
HungrySeagull's picture

Fucking hell. And I thought Silver aint moved shit.

What will it take for the morning crowd to demand physical?

 

For get gold +50, make it +100 every time you warm your coffee.

Tue, 08/09/2011 - 01:02 | 1541379 BaBaBouy
BaBaBouy's picture

 

The Bernank and iQE 2.5 will help thiings allong nicely tomorrow...

Tue, 08/09/2011 - 00:31 | 1541277 fuu
fuu's picture

1772.23

1772.30

1772.39

1772.48

 

Tue, 08/09/2011 - 01:00 | 1541372 Terminus C
Terminus C's picture

1755.92

omg beat down bitchez!

lol, it's only up $68, be afraid gold bugs, be very afraid...

I just wish I had bought more gold.

Tue, 08/09/2011 - 01:16 | 1541417 fuu
fuu's picture

Asia not quite so on fire as earlier. Was something announced?

Tue, 08/09/2011 - 00:26 | 1541244 BaBaBouy
BaBaBouy's picture

 

RIOTS Spreading accross England.

MultiCulti Shit Hits The Fan.

Unemployed everywhere with nothing to do...

 

Way to go MBA geniouses...

Tue, 08/09/2011 - 00:37 | 1541297 Id fight Gandhi
Id fight Gandhi's picture

Multi cultural societies don't last long.

Tue, 08/09/2011 - 00:38 | 1541311 Troll Magnet
Troll Magnet's picture

Yup.  Multiculti bullshit it is.  

I hope that shit doesn't hit the USAA+ but I'm afraid some shit like that is going to go down here pretty soon.

But then again, most Americans are in a fucking coma...

Tue, 08/09/2011 - 00:57 | 1541363 TruthInSunshine
TruthInSunshine's picture

I was in Miami 8 days ago.

English is a 2nd or maybe even 3rd language there, now.

I do not mean to offend Spanish speaking peoples, but WTF, even the street signs were en espanol in many parts, and I got a weird feeling since my spanish sucks.

Donde esta la biblioteca, bitchez?

Tue, 08/09/2011 - 01:06 | 1541384 4realmoney
4realmoney's picture

¿Dónde está el oro bitchez?

Tue, 08/09/2011 - 03:28 | 1541570 Incubus
Incubus's picture

I hate spanish. 

 

I can tolerate french, but fuck spanish:  it sounds nasty.  German is another awful sounding language.  I pity you if you speak spanish, or german.

Tue, 08/09/2011 - 05:08 | 1541612 barkingbill
barkingbill's picture

you guys are hysterical. wall street, a bunch of white dudes with ties basically commits financial murder of society and what do you geniuses do? you blame "multi culti" and youths rioting because they have no jobs or money...out of types like you, the downfall of the human race can easily be understood. 

Tue, 08/09/2011 - 05:43 | 1541629 DRT RD
DRT RD's picture

They have no job because of minimun wage, and gather in packs because of welfare. The welfare programs incentivized baby momma to throw babys daddy out with the bath water.  Yes, the downfall of the human race can be easily understood, just be sure to lay the blame evenly.  Put that in your pipe and smoke it big guy, additionally, come live in south Georgia where i am, and you will not only see what I speak of, you will experience it, which carries more weight than an opinion.   

Tue, 08/09/2011 - 07:21 | 1541759 j0nx
j0nx's picture

I feel you man. Come live in Manassas Park and Prince William County Va. right outside DC and English is a distant 2nd language to Spanish. 70% of Manassas Park is Hispanic now and most of them live 10 to a fucking house. I've been saying for years that political correctness and multi-culturalism will be the death of us all. Without a coherent and united culture then people will divide into sub groups and fight each other when TSHTF. Probably the plan all along anyway to distract the masses from fighting the real villains. My hood is at least 80% illegal alien/section 8 blacks. I'll be lucky to get out of here with my scalp when they start to get uppity and riot British style.

Tue, 08/09/2011 - 08:34 | 1541963 Léonard
Léonard's picture

Come also in France, dude !

The situation is the same over here with the wonderful Swedish African immigrants despite a strong social security system financed by heavy taxes only imposed to the native population.

Free health care, free social appartements, free basic incomes, free justice fees, legal anti-white racisme, positive discrimination for all the marvelous Swedish immigrants thanks to the horrible racists French Native people !

Tue, 08/09/2011 - 06:36 | 1541650 Léonard
Léonard's picture

Guess what honey...

The City and the Wall Street white dudes are the ones who made everything possible to bring these wonderful Swedish immigrants in Europe without the consent of the Native Europeans (all also very white).

Dumping social, bitchez ! Mixing eugenism, bitchez !

Now if the shit of the madness of their multicultural project hits the fan, please adress all your complains to the London Stock Exchange and the New York Stock Exchange, cause we the Native Europeans have already warned them that this will end in fury and that we will stand for our rights and bring our societies back to what they were before the rainbow colored colonization destroyed our identities and lifes.

By the way, Enoch was right since day number one (and I don't care if he was a conservative, he was right, everything he said is happening in front of our eyes)

http://www.youtube.com/watch?v=7wGtcloE0i8&feature=player_embedded

http://www.youtube.com/watch?v=1mp36BEGRqc&feature=player_embedded

To hell with the City and Wall Street ! To hell with immigration and multiculturalism ! Power of the Native European people ! This is OUR lands, this is OUR continent.

Tue, 08/09/2011 - 00:27 | 1541249 marsdefIAnCe
marsdefIAnCe's picture

not quite

the bernanke & co are going to bukake massive fiat from theirs

Tue, 08/09/2011 - 03:16 | 1541564 Sokhmate
Sokhmate's picture

excuse me. it's bukkake

Tue, 08/09/2011 - 00:39 | 1541314 legal eagle
legal eagle's picture

No, a Boehner

Tue, 08/09/2011 - 00:42 | 1541325 Stumpy
Stumpy's picture

Nice job, Eagle. Now I'm all flacid.

Tue, 08/09/2011 - 00:24 | 1541230 Oracle of Kypseli
Oracle of Kypseli's picture

Watch for a violent attack on silver tomorrow to slow the ascent of gold as they can no longer manipulate gold.

Tue, 08/09/2011 - 00:29 | 1541261 cynicalskeptic
cynicalskeptic's picture

no matter if you're holding for the long haul.......

every push down just means a buying opportunity.

 

They've been playing games with the miners and ETF's of late as well - more MOPE - making the alternativees look bad.

Tue, 08/09/2011 - 00:39 | 1541302 Oracle of Kypseli
Oracle of Kypseli's picture

I am with you. the trend is intact. However, many PM lovers also engage in GLD and SLV. Which are also derivatives and dangerous at that just like all ETF's. They were designed and sold to us as diversification propaganda.  

Tue, 08/09/2011 - 03:06 | 1541555 A Nanny Moose
A Nanny Moose's picture

They were designed and sold to us as diversification propaganda.

Ha! Regardless of the underlying asset, it's almost all paper wealth. Definitely not diversified.

Tue, 08/09/2011 - 00:43 | 1541329 living on the edge
living on the edge's picture

So you are suggesting we buy the dips... That sounds like a plan to me!!! If we keep this up we won't need a Central Bank nor any bank if we own our own physical. Gotta love Jim Sinclair!!!

Tue, 08/09/2011 - 00:40 | 1541321 Troll Magnet
Troll Magnet's picture

I don't know if they can slow the ascent of gold by attacking silver.  Gold is going to the moon right now regardless.

Tue, 08/09/2011 - 07:47 | 1541827 Smiddywesson
Smiddywesson's picture

Ding!!! We have a winner.

Yes, the manipulation of gold is failing big time so silver is going to get kicked around, but I suspect that won't last long either or silver would already be below $20

Silver's time is coming.

Tue, 08/09/2011 - 00:18 | 1541186 duo
duo's picture

The Bernank has to step up before Europe opens...

Tue, 08/09/2011 - 00:39 | 1541256 TruthInSunshine
TruthInSunshine's picture

Gold @ 1776 should serve as a PATRIOTIC reminder that the Federal Reserve Bank Franchise of the Den of Viper & Thieves is losing control.

Libertas! Liberte! Liberta! Libertad! Freiheit! 

Tue, 08/09/2011 - 00:23 | 1541187 Manthong
Manthong's picture

Sinclair's 1764 inflection point has been passed.

He thinks gold should go exponential now.

Square of the numbers theory.

http://squareofnine.blogspot.com/

Tue, 08/09/2011 - 00:26 | 1541246 margaris
margaris's picture

yes, the emperor has no clothes and all that..

but I am not so sure... I mean, its just an arbitrary number...

Tue, 08/09/2011 - 00:32 | 1541279 Manthong
Manthong's picture

I wonder if it has any relation to "tail risk" or "really, really bad outcomes"?

 

Tue, 08/09/2011 - 00:35 | 1541290 margaris
margaris's picture

lol, what I meant to say is: "I THOUGHT I HAD MORE TIIIIIIIIIIIIIIIIIIIIIIIIIIMEEEEEE!"

Tue, 08/09/2011 - 01:24 | 1541434 Doyle Hargraves
Doyle Hargraves's picture

Tail Risk Bitchez!

Tue, 08/09/2011 - 05:21 | 1541616 Moe Howard
Moe Howard's picture

So is 666.

Tue, 08/09/2011 - 00:18 | 1541188 greenbear
greenbear's picture

It's on!  Bitches.

Tue, 08/09/2011 - 00:19 | 1541191 thatthingcanfly
thatthingcanfly's picture

Jim Sinclair's 1764 just taken out.

Praying to God: check.

Tue, 08/09/2011 - 00:20 | 1541196 Cursive
Cursive's picture

Be mindful of the parabolic move.  Unless you are waiting for global financial collapse, sell some tomorrow and more if it reaches $2000.

Tue, 08/09/2011 - 00:25 | 1541238 kito
kito's picture

Shirley you must mean paper gold

Tue, 08/09/2011 - 00:26 | 1541241 BayAreaAlan
BayAreaAlan's picture

Cursive, I will buy your physical gold at 1764.

Tue, 08/09/2011 - 00:26 | 1541245 Hulk
Hulk's picture

Great way to miss the big moves...Nothing going on in the world now that even hints of selling gold...

Tue, 08/09/2011 - 00:49 | 1541347 DaveyJones
DaveyJones's picture

What he said.

Tue, 08/09/2011 - 00:27 | 1541252 cynicalskeptic
cynicalskeptic's picture

diversify - ammo, alcohol and canned goods.......   sadly the 'nuts' worried about world collapse may be right after all.

Tue, 08/09/2011 - 00:35 | 1541289 DosZap
DosZap's picture

cynical, 00:27

then they weren't "nuts" were WE?.

Tue, 08/09/2011 - 00:52 | 1541357 gwar5
gwar5's picture

 

Don't forget Dr. Strangelove's advice to have plenty of beautiful women around in the bunker to reboot civilization when the carnage is over.

Tue, 08/09/2011 - 01:25 | 1541437 Raymond Reason
Raymond Reason's picture

Check.

Tue, 08/09/2011 - 03:32 | 1541573 Incubus
Incubus's picture

Make sure they're capable of some sort of mental growth:  screwing dumb broads got us into this mess.

 

Idiocracy, bitchez.

Tue, 08/09/2011 - 07:55 | 1541857 Smiddywesson
Smiddywesson's picture

If the Weimar Republic was any indication, all you need is PMs, the women will come to you.

Tue, 08/09/2011 - 04:19 | 1541586 Snidley Whipsnae
Snidley Whipsnae's picture

Sell into currencies that may collapse before your PM transaction is complete? How clever... lol

Tue, 08/09/2011 - 07:53 | 1541851 Smiddywesson
Smiddywesson's picture

No Cursive, do not beware of the parabolic move.  That is a trader's rule of thumb for an observation that speculative prices don't move vertically for very long. 

Is speculation driving these prices or currency destruction and fear?  There are no price targets for gold and silver because the measuring stick by which we price them (the USD) is being destroyed.

Rules of thumb don't work in a once in a century event.  But if you think I am wrong, then by all means sell, to me.

Tue, 08/09/2011 - 00:20 | 1541198 rosiescenario
rosiescenario's picture

...let's see: Jackson Hole, done; markets crashing worldwide, yup; ok....cue Ben..enter stage left...

Tue, 08/09/2011 - 00:20 | 1541199 LongBalls
LongBalls's picture

They will print. They dont want complete chaos yet. Winter is the best time for a collapse. People can't mobilize and are dependant on the food chain. Plus there is that pesky Iran we have yet to go to war with.

Tue, 08/09/2011 - 00:31 | 1541278 cynicalskeptic
cynicalskeptic's picture

The 'World War III' diversion won't work this time.......

 

Iran has modern cruise missles that woill do a world of hurt to US naval forces.  Besides, you can't fight a war if you can't borrow any more money.....

Tue, 08/09/2011 - 00:44 | 1541332 Man Bear Pig
Man Bear Pig's picture

Who needs to borrow when you can nationalize the presses?

Tue, 08/09/2011 - 01:40 | 1541461 CompassionateFascist
CompassionateFascist's picture

Cynical, at least $1 trillion of the new debtbux are earmarked for the upcoming Isramerican attack on Iran.

Tue, 08/09/2011 - 02:49 | 1541538 geekgrrl
geekgrrl's picture

Sadly, this is probably true

Tue, 08/09/2011 - 00:20 | 1541201 vast-dom
vast-dom's picture

UPDATE: make that $1772/oz.

Tue, 08/09/2011 - 00:20 | 1541202 PY-129-20
PY-129-20's picture

All I wished for was 1776 $.

Tue, 08/09/2011 - 00:21 | 1541204 BlaZingPenguin
BlaZingPenguin's picture

we just hit jim sinclairs $1764 http://www.youtube.com/watch?v=IF24atvNkSo

edit: I'm a little late

Tue, 08/09/2011 - 00:24 | 1541229 ViewfromUnderth...
ViewfromUndertheBridge's picture

h/t Jesse Livermore "The Square of the Numbers" WSJ 1923

Tue, 08/09/2011 - 00:21 | 1541205 Bindar Dundat
Bindar Dundat's picture

It's of!f bitches.. the world as we know it is over. Nothing to be happy about here.  Fuck gold is a poor second place to life as we knew it.  

Tue, 08/09/2011 - 00:32 | 1541280 cynicalskeptic
cynicalskeptic's picture

I can't remember - was it the red pill or the blue one to go back to 'normal'?

Tue, 08/09/2011 - 04:02 | 1541582 Incubus
Incubus's picture

"You take the blue pill – the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill – you stay in Wonderland..."

Tue, 08/09/2011 - 01:02 | 1541380 Advoc8tr
Advoc8tr's picture

We have evrything to be happy about IF we can construct a more equitable system on the other side.  I can think of nothing worse than extrapolating the last 10 - 20 years and then contemplating what life would be like - a literal 1984 style enslaved existence nightmare is all I could come up with...  bring it on and get ready to take advantage of the clean slate.

Tue, 08/09/2011 - 01:33 | 1541446 Raymond Reason
Raymond Reason's picture

It will lead to de-centralization...  and that is a good thing.  As went the Soviet Union, Yugoslavia, so will go the EU, US, big banks. 

Tue, 08/09/2011 - 00:21 | 1541207 Hearst
Hearst's picture

There seems to be a coordinated effort to keep Silver capped under $40 per oz.  Are the shackles being kept on Silver about to break??

Tue, 08/09/2011 - 00:28 | 1541255 The Shootist
The Shootist's picture

Not from what I'm seeing. Unfortunately.

Tue, 08/09/2011 - 00:42 | 1541323 Hearst
Hearst's picture

Strange not a peep from the CME raising margins on Gold.  They kicked and screamed and gnashed their teeth when Silver tried to rise to its old 1980 nominal high, raising margins quickly and repeaditly.  They seriously fear what Silver will do to them.

 

Tue, 08/09/2011 - 00:49 | 1541346 HungrySeagull
HungrySeagull's picture

At the moment silver is locked in a 43.00 ish fight. Gold is long gone.

I have taken a wait and see stance. Silver has to go up and the more that they diddle down here in the 43's the more I get the feeling that 100-200 may be possible. Assuming the Gold/Silver multi still applies.

Tue, 08/09/2011 - 08:01 | 1541877 Smiddywesson
Smiddywesson's picture

The silver manipulation cannot be maintained if the gold manipulation fails.  I just bought 200 ounces, and that was my first silver purchase as I am a gold bug.  It won't be my last silver purchase. 

All of the schemes are linked together.  The USD will continue downward, the markets will continue to deflate, gold will continue to rise, and the dark clouds over you have a silver lining.

All of the schemes are connected.

Tue, 08/09/2011 - 00:21 | 1541208 stateside
stateside's picture

I listened to the CNBC hosts and guests who said avoid gold for the last 10 years day in and day out since it doesn't earn interest and you can't eat it.  Since I listened to them and bought tech stocks and other "safe" stocks, I'm now broke so I can't earn any interest and I don't have any money to eat?  Ba$tards.

 

stateside

Tue, 08/09/2011 - 00:26 | 1541240 Bastiat
Bastiat's picture

 I'm very sorry to hear it, stateside.

Tue, 08/09/2011 - 00:52 | 1541356 slewie the pi-rat
slewie the pi-rat's picture

hey states_ide great rant!

if you can survive that much shitty advice for that long, you will love it, here!

Tue, 08/09/2011 - 00:21 | 1541212 Hulk
Hulk's picture

1767

Tue, 08/09/2011 - 00:23 | 1541223 tmosley
tmosley's picture

My doctor claims I can't die of insomnia.  I should just chew some valerian root and get more exercise.

Maybe I'll stop by the "Remaining Men Together" group after work tomorrow.  Maybe then I can get some fucking sleep.

Tue, 08/09/2011 - 00:27 | 1541250 Stumpy
Stumpy's picture

Why are we still awake? Fear? Greed? Entertainment? 

Tue, 08/09/2011 - 00:31 | 1541275 Cursive
Cursive's picture

@Stumpy

Survival laced with entertainment.

Tue, 08/09/2011 - 00:37 | 1541303 Stumpy
Stumpy's picture

Cursive, you're absolutely right. Protection of self and the family. And being on the Internet, it comes with the extra dose of entertainment.

Tue, 08/09/2011 - 00:41 | 1541312 CrockettAlmanac.com
CrockettAlmanac.com's picture

"We got the game on."

 

Eastwood: We're Pulling Out And Pushing Forward!!

http://www.youtube.com/watch?v=Et1SkVldiHI

Tue, 08/09/2011 - 00:28 | 1541254 fuu
fuu's picture

Slide.

Tue, 08/09/2011 - 00:29 | 1541258 au_bayitch
au_bayitch's picture

Great, I will meet you and the big moosey at the first methodist.

Tue, 08/09/2011 - 00:26 | 1541228 Spitzer
Spitzer's picture

The view up here is great.

 

Tue, 08/09/2011 - 00:24 | 1541231 BayAreaAlan
BayAreaAlan's picture

I feel eerily calm and confident about things for the first time in a long while.

Gold, bitchez.

Tue, 08/09/2011 - 00:56 | 1541362 MsCreant
MsCreant's picture

Don't do that...

Vigilance. There may be a time to jump off the train.

Tue, 08/09/2011 - 06:07 | 1541644 TheDriver
TheDriver's picture

Spot on, MsCreant. Everyone needs to keep their head on a swivel here.

Tue, 08/09/2011 - 00:24 | 1541232 cynicalskeptic
cynicalskeptic's picture

It's now almost  cost effective to order uncirculated Gold Eagles from the US Mint - even Proof Buffalos - when comparing prices charged for mere bullion by major dealers .  

Mint adjusts prices on Wednesday and they're way behind the uptick.

 

And you can pay by credit card without incurring additional charges........

Tue, 08/09/2011 - 00:58 | 1541365 RockyRacoon
RockyRacoon's picture

Numismatic Gold Coins Near Bullion Prices

Posted: 08 Aug 2011 12:20 AM PDT

At the time of writing this post, the price of gold has jumped to $1,712 per ounce. As a consequence of the US Mint’s pricing policy, which uses weekly averages and makes pricing adjustments periodically, the prices of certain numismatic gold coins are getting close to the market prices for equivalent bullion coins.

While everyone must make their own decisions about whether or not, when and how to purchase their precious metals, the convergence of premiums make current numismatic gold products a more compelling purchase when compared to bullion. While gold bullion products will almost always track the market price of the metal, numismatic gold products have the possibility to appreciate on the secondary market based on low mintage or other factors. Usually, collectors pay for the extra potential of numismatic gold coins through higher premiums.

The one ounce 2011-W Uncirculated Gold Eagle is available from the US Mint for $1878. By comparison, the cash price of a one ounce bullion Gold Eagle from a major precious metals dealer is $1,817. For a purchase by credit card, the price is $1,871.

Many collectors are viewing this coin as a potential secondary market winner after the coins are eventually no longer available from the US Mint. Across all years and versions of the American Gold Eagle, the issue with the lowest mintage is the 2008-W Uncirculated $10 Gold Eagle at 8,883 pieces. Barring anything unforeseen, the 2010-W Uncirculated $50 Gold Eagle will likely set a new mintage low. Through the last available sales report, sales have reached 3,894, although lately there have been some big weekly jumps.

There are some potential stumbling blocks to this issue. In a previous post, I questioned whether the recently smaller mintages for gold coins would become the “new normal” as higher precious metals prices make new issues more and more expensive. A mintage around 5,000 for a gold coin doesn’t seem as dramatic today as it did in the mid-1990?s. Another factor is that so many collectors view this coin as having the potential to be a big secondary market winner. If most of the people purchasing the coin are simply looking to resell it in the near future, this will create a deep supply in the marketplace, holding down prices. Finally, while there still has been no confirmation one way or the other, the issuance of a special 25th anniversary Gold Eagle Set might drive up the mintage. In 2006, the US Mint included the one ounce collectible uncirculated Gold Eagle in a 2-coin 20th anniversary set that accounted for 10,000 coins.

Moving on, the 2011-W Proof Gold Buffalo is available from the US Mint at $1,910 per coin. The cash price for the plain bullion version is currently around $1,820 with a credit card price of $1,875.

Extrapolating from sales trends, this issue has a strong possibility of being the second lowest one ounce proof Gold Buffalo in the series. The most recent sales show 14,822 units sold to date. If sales remain somewhat consistent through the rest of the offering period, the final number would fall between the current mintage low of 18,863 for the 2008 and the next highest figure of 49,306 for 2009.

I previously discussed at length the interesting prospects for this year’s commemorative gold coins. The proof versions for each program are still priced at $454.95 and the uncirculated versions are $444.95. Each coin contains 0.242 troy ounces of gold, which has a current market value of around $414. Considering that the US Mint prices include a $35 surcharge, which will be distributed to the beneficiary organization, the US Mint is currently netting less than the market value of gold on the uncirculated versions of the coins.

Remaining numismatic gold products include the five different First Spouse Gold Coins and the fractional and one ounce versions of the Proof Gold Eagles.

The first opportunity for the US Mint to adjust prices for most of these products should be around mid-morning on Wednesday. The extent of the increase will be determined by the average market price of gold based on London fix prices from last Thursday AM to this Wednesday AM. The prices for commemorative gold coins cannot be adjusted automatically, but rather sales would be suspended until new prices could be published in the Federal Register.

If the price of gold really continues to move, it’s always possible that the US Mint could suspend sales across the board. The current pricing grid includes the statement: The United States Mint reserves the right to discontinue sale of gold numismatic products in the event that the selling price of United States Mint gold bullion products begin approaching the sale price of the gold numismatic products.

Hopefully by “discontinue”, they mean “temporarily suspend.” And the term “begin approaching” leaves things very ambiguous.

Tue, 08/09/2011 - 01:18 | 1541425 cynicalskeptic
cynicalskeptic's picture

Well, they accepted the order......    APMEX and others wouldn't let you place anorder before market open in Asia Sunday night

Tue, 08/09/2011 - 04:52 | 1541602 phyuckyiu
phyuckyiu's picture

Goddamit that varmint is too smart!!! Subscribing to the blog.

Tue, 08/09/2011 - 00:25 | 1541236 Myzery
Myzery's picture

This article is SO like 20 mins ago.

 

Just get an automated quote into record titles/content at this point and get back to yer terminal/burbon.

 

 

Tue, 08/09/2011 - 00:25 | 1541237 mcguire
Tue, 08/09/2011 - 00:26 | 1541242 Stumpy
Stumpy's picture

In other words, it now take an extra ounce of silver to buy an ounce of gold.

Tue, 08/09/2011 - 01:47 | 1541476 CompassionateFascist
CompassionateFascist's picture

Tragic...another 20 0z of silver delivered to my door today, and it would only buy .5 oz of gold. Here's some news you Jew-apeing goldbugs can use: post System Collapse, gold will get you killed. Silver...will get you groceries.

Tue, 08/09/2011 - 05:07 | 1541611 StychoKiller
StychoKiller's picture

Currently, it looks like a lot of Ag is being sold in order to buy Au.

Tue, 08/09/2011 - 07:51 | 1541843 j0nx
j0nx's picture

I agree 100%. If TSHTF I don't want to be anywhere near physical gold. The zombies will be looking for it, whether they be your local thugs or the thugs from the government looking to seize it. EVERYTHING is computerized and documented. They know who owns what and where it is. Ammo and silver will be the coin of the realm if we go lights out for any extended period of time, assuming we all don't go up in a ball of fire before it comes to that.

Tue, 08/09/2011 - 08:18 | 1541920 Smiddywesson
Smiddywesson's picture

After the collapse, it will be difficult to make change for a gold coin, so I have to agree any preparation will have to include silver.

I don't think we will see confiscation this time (except perhaps in the form of taxation).  In the time of FDR, they had to make holding of gold illegal to collect all the gold coins in circulation.  There was also a logical argument that gold was no longer necessary after going off the gold standard (logical, but completely untrue).  Contrast that will them putting us on a new "gold backed" currency and then attempting to confiscate your gold.  That is illogical and would create confrontations.  They want to steal from you silently, not under duress. 

More importantly, the government and the big banks have all the gold, the public has almost none.  You can bet the big wigs in both these entities have squirreled away PMs.  With the public holding almost no gold, and TPTB having all the gold, why make it illegal to hold?

It is far more likely they will confiscate your guns. 

Tue, 08/09/2011 - 00:26 | 1541243 FranSix
FranSix's picture

Gold/Silver ratio:  50X40 = $2000/oz. U.S.

Tue, 08/09/2011 - 00:26 | 1541247 slewie the pi-rat
slewie the pi-rat's picture

cue:  reservoir dogs

20,000 people in shades walk into casinos and short ETFs tomorrow morning while the benzelbub is having coffee. 

so what?

Tue, 08/09/2011 - 00:26 | 1541248 walküre
walküre's picture

The question is ... are these real buyers of physical or is it money finding its way from equities into gold futures?

If it's a simple paper gimmick, the ride up will be quick but when gravity hits.. watch out below.

Comex is not going bust now or ever.

Enjoy the ride while it lasts.

Tue, 08/09/2011 - 00:30 | 1541269 FranSix
FranSix's picture

As Fekete says, backwardation in gold futures will coax gold out of hiding, causing a huge meltup of prices.

Tue, 08/09/2011 - 00:39 | 1541310 Taku
Taku's picture

Brought to you courtesy QE1, QE2.

What's that around the corner? Hmm..

Tue, 08/09/2011 - 00:27 | 1541251 dalkrin
dalkrin's picture

Tyler, be kind to yourself, maybe from now on only post when every additional $100 milestone in gold is reached.  That ought to let you take a catnap at your HQ for a good 15 minutes.

Tue, 08/09/2011 - 01:00 | 1541373 MsCreant
MsCreant's picture

Do ya think he has a dilapidated house where he lives that you have to wait outside for days and not go away while he and others abuse you until finally, they let you become a Tyler?

Tue, 08/09/2011 - 01:50 | 1541478 CompassionateFascist
CompassionateFascist's picture

This is clearly the case...or it's a tag-team Tyler.

Tue, 08/09/2011 - 03:54 | 1541581 Incubus
Incubus's picture

It's common knowledge that "Tyler" is just a handle.  There's multiple people behind the Zero Hedge "Tyler" as far as these article postings are concerned.

Tue, 08/09/2011 - 08:28 | 1541958 Smiddywesson
Smiddywesson's picture

Logic would dictate that the Tylers are the most frequent contributors with for profit web sites.  The Tylers have to make a living, and it sure isn't from this site. 

You can even make a few guesses which is which based on politics, slang, punctuation, misspelled words, and overuse of bold, underlines, and links. 

Just for giggles, I once did a keyword search on one of their sites using a unique phrase from a Tyler article, and sure enough, there were 65 hits.  Now I know I haven't used that phrase myself even once, but this particular contributor uses it all the time (along with other commonalities).

Trying to spot the Tyler is a lot of fun.

 

Tue, 08/09/2011 - 00:27 | 1541253 monopoly
monopoly's picture

We have waited a long time for this. When gold corrects, which it should for a little while, I will add. If it does not correct well, game over for this country.

Good Night.

Tue, 08/09/2011 - 00:28 | 1541257 seek
seek's picture

I had the twitter feed up with goldprice.com. When Tyler published $1761, it had broken 1770. Talk about fast moving! (Both Tyler and market.)

Tue, 08/09/2011 - 00:29 | 1541259 YC2
YC2's picture

Sweet Jesus.

 

Silver is being all industrial, little fucker.

Tue, 08/09/2011 - 00:29 | 1541264 Hulk
Hulk's picture

1769. I think if we keep posting the price all night long, it will keep going up!

Tue, 08/09/2011 - 00:30 | 1541271 Seize Mars
Seize Mars's picture

On Berg, what's the difference between GOLDS <Index> and XAU <Curncy> ?

 

Tue, 08/09/2011 - 00:31 | 1541272 BlackholeDivestment
BlackholeDivestment's picture

$1770 gold and silver at $39. http://www.youtube.com/watch?v=iAIDC29BYUs&feature=related 

Bu bu Benny call the 911 jets... World Trade control demolition fallen down. falling down. 

Tue, 08/09/2011 - 00:30 | 1541273 cranky-old-geezer
cranky-old-geezer's picture

Timmah got his debt ceiling increase so he can issue more debt but no QE3 so Bernokio would buy it.  Left hook.

Then he gets blindsided by downgrade.  Right hook - KO.

Tue, 08/09/2011 - 00:31 | 1541276 YC2
YC2's picture

corn 666

Tue, 08/09/2011 - 00:33 | 1541284 Stumpy
Stumpy's picture

3 times lumber = 666

Tue, 08/09/2011 - 00:36 | 1541295 Stumpy
Stumpy's picture

7 times cotton is also pretty close to it. Someone bid a t-shirt or two!

Tue, 08/09/2011 - 00:33 | 1541281 mt paul
mt paul's picture

gold is not money 

for those

that have none.....

Tue, 08/09/2011 - 00:34 | 1541286 KrazyerthanUthink
KrazyerthanUthink's picture

This is the new 'normal'

Tue, 08/09/2011 - 00:35 | 1541292 SilverDoctors
SilverDoctors's picture

Add $10- $1761 now.

And yet silver is flat and capped at $39.

Let Blythe know how we feel about this at her personal blog (great find Jake!)

Tue, 08/09/2011 - 00:36 | 1541296 ultra86
ultra86's picture

My inner-leprechaun is doing the moonwalk right now.

Tue, 08/09/2011 - 00:36 | 1541298 time123
time123's picture

How far will it go? Nobody knows for sure, but I would not be surprised to see it at $6,000 by the time all the mess is sorted out. Time will tell.

admin123

admin at http://invetrics.com

Tue, 08/09/2011 - 00:38 | 1541307 azengrcat
azengrcat's picture

I better stock up on physical by buying a case of Goldshlager 

Tue, 08/09/2011 - 00:43 | 1541331 Stumpy
Stumpy's picture

Do it yourself! Grind some hard candies in 40% alcool. Shave a couple of AGE. Voilà!

Tue, 08/09/2011 - 00:39 | 1541316 Stumpy
Stumpy's picture

S&P/ASX dug itself out pretty well.

Tue, 08/09/2011 - 01:07 | 1541395 saulysw
Tue, 08/09/2011 - 00:39 | 1541317 wake up America
wake up America's picture

It is going to 1776 and freezing until Obama is booted and Ron Paul is in.   

Tue, 08/09/2011 - 00:49 | 1541348 Troll Magnet
Troll Magnet's picture

Well, if Ron Paul is elected President, gold is going to skyrocket.  But that won't happen because TPTB don't want Ron Paul to lead this country.  They will character assassinate him to death.

Tue, 08/09/2011 - 02:57 | 1541551 lunaticfringe
lunaticfringe's picture

i agree. see it daily. the best man for the job- can't get the job. that is some sorry shit...

Tue, 08/09/2011 - 00:40 | 1541322 Taku
Taku's picture

1772+

Tue, 08/09/2011 - 00:48 | 1541345 choorles
choorles's picture

time to get out of all paper assets and buy physical!! this is a complete paradigm shift

'To see the role of the monetary system in this let us take a look at how this currently works: Basically, in the modern world there are places called ‘banks” that have computers in which many people have so-called “accounts”. In the accounts of these computers there are numbers, which are measures (in the US given as dollars) of how much “money” you own. A large proportion of humanity in fact does not have any such “account”, whereas some people may have 10.000 ($) associated with it. Others may have 10.000.000 or even 10.000.000.000 ($) associated with their names in these bank computers. Moreover, for a large number of people these numbers are negative because the banks have “lended” “money” to them. Thus there are huge differences in these numbers for different people despite the fact that people work approximately the same amount of time everywhere. Sometimes the numbers may be related to a service done by someone to the planet, but more often than not it is the other way around. Those that cause the most damage to our planet in fact often have the highest numbers in these bank computers. Regardless, the point to realize is that the numbers in these bank computers more than anything else defines a power structure, where those with high numbers dominate those with low or negative numbers. Money has no real existence, but the legal definitions of a society maintains a system of dominance based on these computer numbers.' - Carl Calleman

www.silverrevolucion.com

Tue, 08/09/2011 - 00:51 | 1541353 Conax
Conax's picture

Banks got gold- no silver.

Silver capped- gold runs.

They might just be going long Au. After everyone climbs aboard, they pull a drive by on gold like they did May 1st on Ag. The chickens flap around and sell off, they buy up more gold.

Using this stock market disaster for a catalyst.

Am I paranoid?

Tue, 08/09/2011 - 00:55 | 1541361 Klaatu
Klaatu's picture

Nope, sound about right to me.

Tue, 08/09/2011 - 01:03 | 1541385 choorles
choorles's picture

sounds pretty good to me...

i think the banks that were shorting gold have now gone long (like JPM) because they were losing to much money... they need to go long gold to cover their silver shorts

silver might not be rising like gold, but i saw fox news telling people to buy gold last night... that is usually a pretty good time to sell.. for me it is a pretty good time to switch into silver

as max keiser says... when the banks start losing so much money from their silver shorts that they have to go long silver.. it will be like a sling shot and silver could leave gold in its wake

http://www.silverrevolucion.com

Tue, 08/09/2011 - 01:11 | 1541406 Conax
Conax's picture

Thanks fellas, I might be getting too far out there.

So they milk the gold market for funds to short silver.

OK, but-

I think they want to end up with all the gold, too.

Tue, 08/09/2011 - 01:37 | 1541458 choorles
choorles's picture

in their personal vaults yes. not in the banks vaults

let the bankers have their gold. revolutionaries buy silver

Tue, 08/09/2011 - 11:21 | 1542614 KinorSensase
KinorSensase's picture

let the bankers have their gold. revolutionaries buy silver

 

quote of the day.

Tue, 08/09/2011 - 08:37 | 1541988 Smiddywesson
Smiddywesson's picture

Don't overthink this.  If TPTB were in complete control of gold and silver prices, they would be under $300 and under $20 respectively.

Clearly, TPTB are buying gold and shorting silver.  They are trying to keep the price of both down, but in both cases, they will fail.

The reason they are more successful in keeping silver down and are failing big time in keeping gold down is the central banks are stacking gold, not silver, and silver is a smaller market. 

The conspiracy to hold down the PMs is failing, and especially with respect to gold, the co-conspirators are stabbing each other in the back and buying more gold than they agreed upon.  This development will accelerate in the coming weeks.

Tue, 08/09/2011 - 00:51 | 1541354 crash_davis
crash_davis's picture

I don't know how many times i've heard some ignorant political hack say "tea party downgrade" today.

Tue, 08/09/2011 - 02:37 | 1541529 Outlaw Of The W...
Outlaw Of The Wasteland's picture

were almost all jews, niggers, communists or homos?

Sorry to beg the rhetoric.

Tue, 08/09/2011 - 02:54 | 1541547 lunaticfringe
lunaticfringe's picture

geezus, does your mom know you are typing under the covers?

Tue, 08/09/2011 - 13:05 | 1542978 Jena
Jena's picture

http://thehill.com/blogs/on-the-money/801-economy/176047-liberals-consolidate-fall-goals-in-new-contract

 

Van Jones, MoveOn.org and Rep. Jan Schakowsky (D-Ill.) apparently trying to launch a "Contract For The American Dream" that would spend us into the bliss of massive new taxes and spending.  Guess they're tired of the Tea Party getting all the ink lately.  Chumps.

Tue, 08/09/2011 - 00:58 | 1541368 KrazyerthanUthink
KrazyerthanUthink's picture

72 Vestal virgins please maam...

Tue, 08/09/2011 - 01:08 | 1541396 MsCreant
MsCreant's picture

Why, are you a preist or something?

http://en.wikipedia.org/wiki/Vestal_Virgin

Maybe just 72 virgins?

Of course then ya gotta ask "Why are they virgins?"

Not attracted to men, sexually anorexic, not attractive to men, this gets complicated.

Careful what you ask for.

Tue, 08/09/2011 - 01:05 | 1541390 jomama
jomama's picture

this is really starting to worry me. 

Do NOT follow this link or you will be banned from the site!