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Gold And Silver Update: This Is What A Global Fiat Bailout Looks Like On One Chart
Presented without comment - except to say the 11% rise in Silver since Friday (and 16.7% rise since last Thursday's lows) is the highest 4-day move since 7/18/11 and is over 2 standard deviations on a long-run mean.
Gold is up 8.5% from the Thursday lows of last week and the USD (measured by DXY) is 1.6% weaker this week.
Chart: Bloomberg
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Pretty sure they crushed a couple of pills, cooked it up with some aspirin to thin the blood, and spiked it hot.
freebase hopium
short term rush..
World production of silver for ONE YEAR is 900 million ounces.
The paper silver markets trade over one billion ounces PER DAY!
The amount of physical, freely available world investment silver, on any given day, is approximately 1.5 million ounces.
Easy to see where the over supply is!
What happened in 2008 was literally just the warm up. The real deal is coming in the next 14 months. And it's going to involve corporate, financial, and sovereign defaults.
Tom O'Brien has checked into "Celebrity Rehab"
Ken Shreeve probably filling in for him today.
He was a huge dollar bull and gold and stock bear, looks like he got taken to the cleaners.
GDX/GLD ratio is still near the lows, if gold keeps going up there is going to be some big fireworks in GDX.
Of course, nothing compares to the "fireworks" seen in XRT, though, almost at 3-year highs.
Yes. I hope he is on today. Lots of splainin' to do for the dollar bulls
I junked you before I read your post
And after I read it, I wanted to junk you again.
RoboTard gets an automatic "junk" from me every time. Just as leo did.
At least he has had his posting privileges here revoked, so we are no longer assaulted by his gratuitous soft-porn photos.
A common reaction; while we're waiting for the Franco-Belgian financial geniuses to save Europe; it would be a good time to buy more silver? Non?
Cue rally monkey in 3.. 2.. 1..:
http://www.youtube.com/watch?v=EmfE4KAZicY
Off topic.. Im new. How does one change the display order of the comments to newest first? I dont see it listed in the viewing options?
You think you can just come in here and ask a question about the functionality of Fight Club? This isn't Huff Poop loser; this is Zero Hedge shit bag and they don't need funcitonality here...it keeps away the bloggers.
Its just a tech question. I hope i didnt offend anyone
no, just lots of sarcasm, here.
The only reason why i ask is because the old format had a viewing option. Thank you
There is no option for viewing. When you refresh, new comments should be evident.
Has the word new by the name of the poster. If this is his first night at fight club....
Learn to deal with the little problems life throws at you.
My Nov SLV PUT is toast.
Yes, and where is bob "Mr Silver Short" dabolina today?
Oh, that's right, he closed those positions out at the bottom for a huge gain. Now he's long again just in time.
LOL.
Funny how the trolls always have the best market timing --- to the minute!
Gold going for another Loch Ness Monster Pop today.
DXY getting slaughtered....
This is the largest hopium fakey ever. MFs and Bondholders are fvcked.
silver .... 35.19 $
a walrus.. priceless....
The vast majority of these gains have come during COMEX trading hours. Not overnight out of asia. Be careful. This could be another COMEX trap. Get you long then wipe you out. Discourage you from investing in PM's. I'm Long physical gold and hedged partially with paper gold short via GLL
That was my theory two days ago. Didn't work out so well, probably because I am utterly cursed.
long physical short paper is a no lose trade.......premiums cant get any narrower and PM's will only be see their big gains when the paper shackles are removed. So eventually if GLL works as it should when the paper mkt collapses..your physical will fly and your GLL (Inverse spot based 2x etf) will fly as spot/futures collapse........
Bought Dec. Silver on the CME at $35.125; now. It is not a trap. Hedging is useless for individual investors; ETF's are also useless.
Hold on to your chonies boys and girls. JP isn't through knocking the price down to cover their shorts.
They will do what it takes.
Forsake the charts and respect what you know.
Are you trying to say cojones? Well don't do it cause it hurts my ears when you do it!
chonies = mexican slang for underwear.
Otherwise I'd have to hold my husband's cajones.
What could cause this? You can't eat silver.
No, but you can trade me a shiny coin of the realm for a chicken or a rabbit.
I have about 30 chickens if anyone is interested in getting rid of their silver.
PulauHantu29
What could cause this? You can't eat silver.
Yes you can eat it, and should in recomended doses daily.
TWO words, SUPPLY/DEMAND................................
WORLDWIDE SHORTAGE NOW
Times like these make me glad I don't trade. No guts, no glory, no problem. Stay in the bunker and keep your head down.
Going back four years I can't find any time where price on SPY was this extended above the 20 day moving average.
Silver pops up $1-$2 per oz and they make the precious metal crowd feel better. What are we like dogs - forgives the blow first scratch of the ear??
Precious metals are manipulated to a disgusting level! When was the last time we saw Silver climb $4+ in a single day? It has no problem being slamed down that much on a (semi) regular basis now. What a joke.
um, speak for yourself.
um, I did..
except for that 'we, like dogs' part?
people are kind of pissy today, aren't they?
apparently i need a break. i'll let you people rip each other apart over aimless manipulation.
I suspose if by 'people' that means you then yes pissy is accurate.
Gold is through the 50-day MA. This makes me feel better.
But again, the correlation between PMs and equities is strong.
World is finally "getting it" as the money-printers are now forcing all of us to SHORT CASH and BUY ASSETS - and YEAH - that means common stocks. The optimal is of course gold and silver ownership but oil, ags, base metals are all screaming higher because - as we all know by now too well - one can NEVER understimate the replacement power of equities within a hyper-inflationary spiral. BUY BUY BUY and jettison your fiat immediately. Leaving cash in the bank is aiding and abetting the banksters so get your money out of the banks and INTO some silver coins. And cover your shorts or face Zimbabwe-esque Armegeddon.
it underperformed copper however
What are silver coins backed by?
At least with SLV we have comfort in knowing that the investment is backed by paper.
Of course, being paper, SLV is an eco-friendly investment since it is renewable as it grows on trees.
work, the energy it takes to dig them out of the ground; this is why they're real money.
Dunno man...it only costs $5 to dig it up. Besides, bankers don't believe that energy costs anything, considering they're trying to violate the conservation of energy law with all the money printing they do.
I'm gonna throw up the /sarc tag cause some herb will take me seriously I'm sure.
Really? I get to be the first on this.....Silver Bitchezzzz!
I've missed the "...Bitchezzz!" That always puts a smile on my face, along with watching the rise in price.
TIME TO RALLY!
Did news come out that QE3 is imminent? When is the next FOMC meeting?
Two of my friends just sold their businesses for Dollars. We will see if they made the right move. I am holding tangible assets for the next few years let me tell you! Things are really starting to freak me out!
Time for a few CME hikes. Guaranteed its coming.
S&P's have been on a tear for no good reason. But that's no problem, no margin hikes there.
Do they wait untill $40 this time? Perhaps $37-$38 would be a more effective price to break the back of any up trend...
I suck.
I can't get excited about $35. I still see it as a rise along the floor of Death Valley. Dow up 317 and we get $35? Silver should be at least $45 today. I am relieved that they didn't slam it into the 20's, but that is all.
Besides, the day isn't over yet.
Silver's next resistance is $37.00 we should touch close to that by Friday.
Over the years I've learned the hard lesson- regarding exactly who runs Bartertown..
Hope you're right, friend.
So silver hovers right under JPM's stock price. According to Keiser, breaking through JPM's stock price is a big deal because they leverage their stock to run naked shorts on silver? I've never understood this part of the game, least of all why their leveraged stock price would match up at a 1:1 ratio with the silver unit price. 1:1 seems arbitrary, yet there always seems to be serious resistance when silver approaches JPM's stock price.
Can brighter minds enlighten me...point me in the right direction at least. I'm coming at this with no formal econ background, so I get lost on some of the finer details and mechanics of the situation and I'd love to understand the relationship bteween JPM's stock and the silver price better.
It's a managed economy- LBJ: "If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content."
The huge American industrial silver stock piles lasted for decades but are now defunct. A new measure was required to keep the dollar on top. I think JPM was and is instrumental in this control. As long as they keep the lid on, they get to use FRNs from the treasury for this and other purposes. They also get a free pass on other nefarious activities. As long as they keep PMs down, they will be on top. It's very patriotic from their view, doing god's work. When the PM markets burst free, their stock values will fall. Just an opinion, and a whack one at that.
(editted to more accurate quote)
physical silver bitchez
Looking like "Son of Weimar"....those that survived that historical cluster fuck owned stocks, precious metals, or just about anything other than paper currency. I do not think the rise in the market for stocks or pm's is due to positive thinking today but is more an avoidance of being in fiat....it is more thinking about where I know I do not want to be than, "Boy this is an opportunity..."
They bought more time, this quick gold run wil stop and run sideways for a while. This run up is not metals going up but the dollar going down.
Someone smarter tell me what happens when the Euro Banks finally need to sell their gold, will they and then what happens?
Gold will plummet.
Thank you for that detailed and insightful analysis.
PS: Cass Sunstein, is that the best you can do in terms of "cognitive infiltration" of "anti-government" and "rumor-spreading" blogs?
PPS: Loved your 1986 song "Welcome to the Boomtown".
JPM's silver busting algos broke from all the bullshit from Europe last night or what?
While I am long silver, I won't be cheering until we get to see pre May 2nd prices.
2 words: Short covering
Don't get me wrong,I'm all in fir the metals,but the USDollar is tanking again so it makes the PM's look better than they really are.
All part of thier fucking ponzi.
These markets are bullshit.
But hey, got some cheap puts on the DAX to eventually swap for phyzz.
Every cloud really does have a silver lining, 999 fine.
Kitco.com news headline from this afternoon:
Gold Prices Flatline as Europe Settles Debt Plan - The Street, Oct 27 2011 3:26PM
Actual headline on thestreet.com:
Gold Prices Pop as Europe Settles Debt PlanThis is the third time I have seen a similar error on the Kitco.com news headlines, kind of doubt it is just a coincidence?
Why are you "gold bugs" so giddy? Gold is up $30 from last week's high. Big deal. Gold should be up $200 today. It's not. Eventually, the Fed will beat it down again.
"Should be up"?
According to whom, or what?
Go take a look at a ten-year chart of the price of gold, and a multi-decade chart of the exponentially growing US federal debt, and then let's discuss what "eventually" really means.
Whack a Troll...
David gold on this date in recent history,
(2003) $386 (2005) $474 (2008) $730 (2010) $1324 and right now, today is $1744.
Give your head a shake brother, and wake up.