Gold And Silver Surge Above 200DMA

Tyler Durden's picture


The last few days have been 'different'. Equities have relinquished their role as QE-sensitizers as Treasuries and precious metals have taken the reins. Perhaps though, as CNBC's Rick Santelli noted earlier, Gold and Silver are acting as barometers of anxiety - as opposed to clarifying QE expectations - as we see both Gold (> $1650) and Silver (> $30) break above their 200DMA and trade back to near five-month highs.


Silver has surged an impressive 9.4% in the last four days - its largest such jump in 10 months - and broken above its 200DMA...


Gold has soared back above $1650 ($1672 at last look), broken above its 200DMA, and the jump in the last 3 days is most in two months...


Charts: Bloomberg

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Thu, 08/23/2012 - 12:09 | 2730560 pazmaker
pazmaker's picture


Thu, 08/23/2012 - 12:13 | 2730572 BaBaBouy
BaBaBouy's picture

GOLD $50K Bitchies ...


Print Benjamin, PRINT ...

Thu, 08/23/2012 - 12:14 | 2730588 Pladizow
Pladizow's picture

Gold is a treasure, and he who possesses it does all he wishes to in this world, and succeeds in helping souls into paradise. – Christopher Columbus


Only when the last tree has died and the last river has been poisoned and the last fish been caught will we realize we cannot eat money - Cree Indian Proverb

Thu, 08/23/2012 - 12:19 | 2730623 BaBaBouy
BaBaBouy's picture



If You "Cannot EAT Money" (I.E. Buy Food), then what the Crap is it good for???



Thu, 08/23/2012 - 12:23 | 2730648 fonestar
fonestar's picture

Another roll of A-Mark Liberty rounds on the way!

Thu, 08/23/2012 - 13:25 | 2730915 bernorange
bernorange's picture

Ned Naylor-Leyland claims the LBMA is having trouble delivering silver for large orders.  Sprott buying silver.  Soros/Paulsen/et. al. buying gold.  Basel III rules for making gold a tier 1 asset in the works.  FOMC hints at pending QE.  Global economies still under duress.

It's nice to be sailing with the wind for a while.

Thu, 08/23/2012 - 14:29 | 2731190 Arcturus
Arcturus's picture

Buying gold and buying GLD are two different things. They are not taking delivery.


They are paper gold bitchez.

Thu, 08/23/2012 - 14:50 | 2731273 TruthInSunshine
TruthInSunshine's picture
Ron Paul vs Bernanke: Is Gold Money?


Ron Paul:             "Why do central banks hold gold?"

The Bernank:        "Well, it's a form of reserves"

Ron Paul:             "Why don't they hold diamonds?"

The Bernank:        "Well, it's tradition...long term tradition."

Ron Paul:             {Laughing}

Thu, 08/23/2012 - 15:00 | 2731317 DosZap
DosZap's picture

And another round of QE for BONDS helps JOBS how?.Just one more nail in the coffin.

Focus, man,Focus.....................LOL

Thu, 08/23/2012 - 13:52 | 2731045 Svendblaaskaeg
Svendblaaskaeg's picture

Life of Brian:

MANDY: Heh. Nortius Maximus his name was. Hmm. Promised me the known
world he did. I was to be taken to Rome, House by the Forum. Slaves.
Asses' milk. As much gold as I could eat. Then, he, having his way
with me had... voom! Like a rat out of an aqueduct.

Thu, 08/23/2012 - 12:19 | 2730625 malikai
Thu, 08/23/2012 - 13:20 | 2730892 dogbreath
dogbreath's picture

please explain.  regards

Thu, 08/23/2012 - 13:54 | 2731047 Svendblaaskaeg
Svendblaaskaeg's picture

a rat out of an aqueduct?

Thu, 08/23/2012 - 17:17 | 2731720 oddjob
oddjob's picture

Beware, longs.

Hello....people are placing savings in PM's now, paper is the price down even more and see what happens.

Thu, 08/23/2012 - 12:59 | 2730806 Oldballplayer
Oldballplayer's picture

You must be a barbarian.

Thu, 08/23/2012 - 14:39 | 2731240 Seorse Gorog fr...
Thu, 08/23/2012 - 12:33 | 2730702 Kaiser Sousa
Kaiser Sousa's picture

"everything is unfolding exactly as i have foreseen...."

The Emperor Darth Sidius



cue the hatchets...

Thu, 08/23/2012 - 13:04 | 2730827 boogerbently
boogerbently's picture

In 2011, gold went from $1500 TO $1900 in two months. If it does it again, that will put us to October. If Israel attacks Iran as it wants to BEFORE the election (knowing Jews overwhwelmingly vote democratic), that will rocket gold further.

The "Black Swan" we have been hearing about may be the "Goose that laid the golden egg"!

Thu, 08/23/2012 - 12:09 | 2730561 midtowng
midtowng's picture

Looks like someone is expecting more QE

Thu, 08/23/2012 - 12:14 | 2730589 Cognitive Dissonance
Cognitive Dissonance's picture

Is that more QE in your pocket or are you just happy to see me?

Thu, 08/23/2012 - 12:14 | 2730596 NotApplicable
NotApplicable's picture

Or widespread dissemination of a picture of Blythe with her shorts around her ankles.

Thu, 08/23/2012 - 12:43 | 2730695 Lets_Eat_Ben
Lets_Eat_Ben's picture

I agree. I think this is frontrunning by insiders. QE III is coming. They sense the time is right (whispered) "...umm eletion in Novermber election in November" and the operation is a go. Will it be weeks or months?

I totally agree, this move in PMs in the past 8-10 trading days is pricing in an upcoming QE announcement.

Thu, 08/23/2012 - 18:53 | 2732001 ZeroAvatar
ZeroAvatar's picture

A move of this magnitude in this short a period of time is almost certainly insider frontrunning. (I'm making a list of possible reasons).


Somebody HAS to know something.  JPM trading down 5%?  Silver Scandal?  Possibly.  We won't know until the money has left the building.

Thu, 08/23/2012 - 12:11 | 2730564 BaBaBouy
BaBaBouy's picture

OR ... GOLD > $50K Bitchies ...

Thu, 08/23/2012 - 12:10 | 2730565 davinci7_gis
davinci7_gis's picture

It's starting :)

Thu, 08/23/2012 - 13:56 | 2731053 Svendblaaskaeg
Svendblaaskaeg's picture

Like getting a papercut while writing a suicide note? :-)

Thu, 08/23/2012 - 12:10 | 2730566 Cognitive Dissonance
Cognitive Dissonance's picture


<I sure hope y'all were buying the fucking dip.>

Thu, 08/23/2012 - 12:39 | 2730728 Lets_Eat_Ben
Lets_Eat_Ben's picture

I went all in at $49.50. I'm so totally loaded with Silver!

Thu, 08/23/2012 - 12:46 | 2730756 Cognitive Dissonance
Cognitive Dissonance's picture

The second mouse gets the cheese. The first is just clearing the mine field.

Thanks for doing your part.

Thu, 08/23/2012 - 13:20 | 2730894 Nevermore Peabody
Nevermore Peabody's picture

I, for one, BTFOTFD, which is where one buys the fuck out of the fucking dip.

Thu, 08/23/2012 - 12:10 | 2730567 GeezerGeek
GeezerGeek's picture

Gold is up more than 1% today. Time to give up a little.

Thu, 08/23/2012 - 12:13 | 2730582 AgShaman
AgShaman's picture

"It's like a piece of rock candy...but it's not for eatin''s just fer lookin' thru"

Thu, 08/23/2012 - 12:42 | 2730706 Dead Canary
Dead Canary's picture

"Are you a bounty hunter?"

"Man's gotta make a livin."

"Dying ain't much of a livin boy."

Thu, 08/23/2012 - 13:31 | 2730945 AgShaman
AgShaman's picture

nice work....

Thu, 08/23/2012 - 12:13 | 2730583 NRGIsFree
NRGIsFree's picture


Thu, 08/23/2012 - 12:13 | 2730584 Karlus
Karlus's picture

Gold, bitchez

Thu, 08/23/2012 - 12:13 | 2730586 TheCanadianAustrian
TheCanadianAustrian's picture

For some reason I decided to order 125 new maple leafs on the 10th. It's nice to have the market move in my favor for a change, even though it means I can't buy more as inexpensively.

Thu, 08/23/2012 - 12:19 | 2730617 pazmaker
pazmaker's picture

I'm a simple no gold can't afford it...but I buy silver from a local shop just about 3 times a month last week he had 10 2001 silver eagles I got them at 28.50's great if you can buy local no shipping no taxes .. but I've been buying from him for 3 years now...

Thu, 08/23/2012 - 12:39 | 2730726 TheCanadianAustrian
TheCanadianAustrian's picture

Local gold and silver dealers are basically nonexistent around here. There's just no demand. The closest thing you can find is a pawn shop that sells the odd quarter or dime from 1910, at a minimum 200% markup of course.

You have no idea how ignorant Canadians are about gold and silver compared to Americans. I'm reminded of that video where that guy walked the streets trying to sell his $1500 gold maple leaf for $25. You could probably walk the streets of Toronto for an entire day and not find a single person willing to pay $25 for a gold coin.

Thu, 08/23/2012 - 13:16 | 2730879 philosophers bone
philosophers bone's picture

I know - "Do you realize how bearish owning silver bullion is?"

Yes.  Next Question?

Thu, 08/23/2012 - 14:07 | 2731104 Svendblaaskaeg
Svendblaaskaeg's picture

Congrats, be carefull now, dont lose them in a tragic blimp accident

Thu, 08/23/2012 - 14:42 | 2731253 TheCanadianAustrian
TheCanadianAustrian's picture

Bad news. The FedEx guy delivered my rounds to me at work today... I ran home, and in my excitement, I tripped and the whole box went flying over the bridge. 60 feet down, wouldn't you know it, a family of gypsies were passing by in a dingie. I'm facing 12 hate crime counts of involuntary manslaughter. :(

Thu, 08/23/2012 - 12:14 | 2730595 disabledvet
disabledvet's picture

Technical analysis from gold bugs? Whassupp wid dat?

Thu, 08/23/2012 - 12:16 | 2730607 NotApplicable
NotApplicable's picture

Reckoning Day can only be delayed, never avoided.

Thu, 08/23/2012 - 12:16 | 2730605 q99x2
q99x2's picture

BTFD. No way. My IChing at the beginning of the year said, "Get the fuck out of stocks by the end of August. If you wish to dabble during the 2012 collapse then you might try a 100 shares of UVXY just for fun."


Thu, 08/23/2012 - 12:29 | 2730677 Abraxas
Abraxas's picture

What translation of I Ching do you have? Mine is only talking about crossing some great water, and something about what the superior man would do, and that going South is propituous, and shit like that. No investment tips whatsoever.

Thu, 08/23/2012 - 13:15 | 2730875 fockewulf190
fockewulf190's picture

I Ichinged all my paper back in 2008 and have been buying real ching-ching ever since.

Thu, 08/23/2012 - 12:17 | 2730608 realtick
realtick's picture

Metals have nasty descending triangles to deal with before the bulls can celebrate:


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