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Gold Breaks To Three Month Highs
Last week it was Brent and Crude; yesterday it was Silver; and today Gold has broken out of its three-month range over $1640 - testing up to its 200DMA once again. Party on in tech stocks like its 1999 but don't forget the unintended consequence of all that free-money exuberance.
Chart: Bloomberg
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price stabiliteeeez
Turns out gold is worth it's weight in gold.
I'd bet on a temporary retracement upon a disappointing Jackson Hole.
Remember: Its the Feds job to stay clear of deflation. Their job is to create inflation.
The Bank of DoChenRollingBearing is buying more gold today.
Also known as a Buying Opportunity. Another dip to accumulate more of what's Real at government subsidized low prices
zirp 4 evah bitchez
Yep. The Fed is trapped.
The Fed has sent a message. The price(value) of their paper is ZERO.
party on garth..party on wayne..
Party on Ben....party on Mario.
Go ahead, print you centrally planning fucks, go ahead, I dare you. Bring it.
Gold Bitcheeezzz. Yup, i'm cliche. Puck you.
It's not cliche, it's more barbarous! :)
Call me Vlad.
as related to Vlad "the girly man" Putin or Vlad the Impaler or Vlad as in sweater?
It's not cliche it's tradition.
Let the endgames begin.
"Excellent" Mr Burns The Simpsons
The smackdown awaits. But the price always goes back up Bitchez!
FU today Bernanke and crew. Feel the pain you SOBs.
And a Mr. Weiss on Bloomberg, mutual fund CEO advises consumer is back, we know about all the negatives, and all will be well. He advised the retail investor is coming back now and they are going for growth.
I have been to this movie a couple of times. And, I know how it ends.
This came in from GATA this morning:
Le Metropole Members,
After much aggravation of late, BOTH gold and silver have
taken out their key resistance points of $1630 and $29
respectively. The bases formed over the past many months
are powerful ones and can support moves to much higher
prices.
Thus far the info provided to me by my three sources
about an August precious metals breakout, which will lead
to all-time high prices for gold and silver, is on target.
In addition, it will be helpful to know that it is only
a matter of time before the problem JP Morgan has with
their massive silver short position goes VIRAL! Think
Libor scandal type thing!
All the best,
Bill Murphy
Le Patron
www.LeMetropoleCafe.com
Bill Murphy is one resilient son of a bitch.
Tough barbarian he is! Tougher than Conan.
I have donated to GATA several times. I just donated $40.
I feel like it is 'go' time. Print, print us in to oblivion and watch the consequences rain down upon your inkjet. This is going to be epic either way.
The entire market's anticipating another LSAP announcement on Aug. 31. It's going to be epic if LSAP comes and it's going to be epic if LSAP doesn't come.
I suspect that anal probe Karl probably misses the irony of this:
Discuss The Capital Markets along with daily technical analysis with our Gold Donor program.
The supression of precious metals is a matter of national security.
The suppression of precious metals is a matter of oligarchical security.
Just keeping up with the EUR.
Lets see which one breaks first.
Gold has to close over its 200DMA for a couple days before the breakout is confirmed.
However, resistence levels have been crossed, so that's bullish.
I recommend all hedge funds sell AAPL, buy physical silver. Make me rich.
As the /ES breaks to a 4+ year high.
Tick tock...Tick tock.
Bull trap.
Bargains coming after Jackson Hole.
I'm wondering what kind of trap would the debt ceiling debate be?
Hello Ben, this is Jamie, please send over another $100m, better make that $200m, for the short metals program.
When we break out of last years highs....I will see a trend...but right now we are going up just like every other investment opportunity...I am 100% into gold and silver....but we are just slowly climbing ....no rush to safety anymore...in fact we are now not considered a safe haven anymore...back to my bottle...getting drunk...sitting on the sidelines watching the train wreck in progress.....but hey..Spain sold bonds today...and they sold them to some idiot...probably a Greek Bank...and at a lower interest rate too....go figure
EVERY rally in gold and silver in the last year has correlated with a MASSIVE increase in commercial short positions on the comex. Just follow the weekly COT report to see (think Sep 25, Nov 15, Feb 28, May). It's happening yet again, the silver shorts have increased rapidly in the last couple of weeks. Today's rally will again cause them to increase higher. It's all building up for another smackdown after Jackson Hole when Bernanke disappoints. But until then, the hedgies/algos will milk the rally for all it's worth. What a pile of absolute cack. Bring back the Asian buying and SUSTAINABLE rallies PUH-LLLLEEEASE. I can't take anymore of this ludicrosity.
PUH-LLLLEEEASE, its been going on for over a decade, not a year....
all u gold bugs will rue the day - for those n since Jan 2012 - having fun yet?
sure, always.
http://expose2.wordpress.com/2011/11/20/a-voice-from-the-dark/
Spoken like a true Robber Baron Jay. Thanks much for checking in.
"rue the day ... who says that?" - Real Genius
LOL...I measure my bullion holdings in ounces, not dollars...which means that the price action since 1/12 (or any other date) means nothing...get it?
Hold please.....
Yep, just as I suspected...my 1oz AG/AU eagles still weigh 1oz each. Two of my Merc dimes still buy a gallon of gasoline or a cheap lunch.
All this talk of recovery and U.S. and European debt being "sustainable" might be true if there were actually career employment, no Trillion upon Trillion in debt, and gold wasn't spanking central bankers on a repeated basis.
these spot price setting assholes always seem to know when i'm about to drop a few thousand pieces of fiat garbage for some metal, don't they?
a-high-frequency-attack-on-gold
http://www.financialsense.com/contributors/dimitri-speck/a-high-frequenc...
Yes of course it's been going on for longer than a year, but the difference up until now is that the Indian buying was more substantial to overcome the stupid manipulations, so the uptrend remained intact. But now the rupee has collapsed and isn't going to improve it means that whole area of support has been massively reduced. So what happens now? Are we going to just keep going up and down like a yoyo around $1600 or what? Rumour of QE/Draghi speaks, gold up, oh comm. shorts increase, options expiry, gold down. Pathetic. This isn't gold, it's an idiotic paper game like all the rest.
So if you buy gold, it's not even worth obsessing over the price anymore, because the price isn't 'real'. You have to just value it for what it is, not what the dumb ass dollar number says on the screen.
Well said. Gold is a store of value and it's value is not determined by a Central Planning system.
Next stop $2K.