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Gold A Fistful Of Dollars Away From 2012 Highs

Tyler Durden's picture


At $1787, gold is rapidly closing in on its recent nemesis-like $1800 level as it appears Dalio's 'expected path of least resistance' for Central Banks - i.e. QEternity - is being priced in from a balance-sheet 'stock' perspective (as opposed to equities needing the 'flow')... Just as Bernanke must be hoping, so (real money) hard assets wonder - is fourth time the charm?



Meanwhile, Silver just broke above $35 for the first time in over six months - which takes it to +26% YTD (as both Gold and Silver are beating US and European stocks - both now in line +11.6%)


Chart: Bloomberg


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Fri, 09/21/2012 - 10:07 | 2817639 GetZeeGold
GetZeeGold's picture



From my cold dead hands.


Fri, 09/21/2012 - 10:09 | 2817662 fuu
fuu's picture

GoLd BiTcHeZ!

Fri, 09/21/2012 - 10:18 | 2817692 BaBaBouy
BaBaBouy's picture

Bitchezzz .?. GOLD $50K ...

Fri, 09/21/2012 - 10:17 | 2817708 BaBaBouy
BaBaBouy's picture


Fri, 09/21/2012 - 10:07 | 2817641 Shizzmoney
Shizzmoney's picture

Really feel for pensioners and 401K types.  At some point within the next 20 years, their fistful of zeros next to their name will evaporate (either by inflation, or by fraud).

Gold/Silver/Platnum (my PM pick, which has been helped by SA union strikes) are MUCH more safer havens for savers.  Granted, buying a vault/gun is a bit harrowing, but I'd feel safer with that setup han having my hardearned wealth (if I had any) in some TPTF bank.

Fri, 09/21/2012 - 10:13 | 2817686 PaperWillBurn
PaperWillBurn's picture

It was given to them via inflation and fraud

Fri, 09/21/2012 - 10:21 | 2817732 oddjob
oddjob's picture

correct. In the end greedy boomers will go down as the most selfish and corrupt generation ever. Enjoy it while it lasts.

Fri, 09/21/2012 - 10:24 | 2817746 DOT
DOT's picture

Projection ?

Help is available.

Fri, 09/21/2012 - 10:26 | 2817753 oddjob
oddjob's picture

Prove me wrong.

Fri, 09/21/2012 - 10:29 | 2817767 Papasmurf
Papasmurf's picture

By greedy boomers, do you mean the ones who built your house, designed telecommunications, developed home computing, build car and just about everything you have in life and take for granted? 

Fri, 09/21/2012 - 10:34 | 2817795 oddjob
oddjob's picture

Yeah, I'm loving my internal combustion engine, designed in the 1800's. Anything else designed over a hundred years ago you would like to take credit for?....maybe the wheel?

Fri, 09/21/2012 - 14:47 | 2818910 EINSILVERGUY

So what have you contributed? 

In my life I helped to build houses and worked on the floor of a rig to bring texas tea to the surface so you could work up a sweat pumping gas into your internal combustion engine, or are you Amish?

I'm 50 and technically a boomer.

You can't generalize about boomers, dummy

Fri, 09/21/2012 - 15:31 | 2819049 oddjob
oddjob's picture

Do you agree that your generation invented the automobile?....saying that is just dumb, pointing it out takes a dummy I guess.

Fri, 09/21/2012 - 12:10 | 2818241 LawsofPhysics
LawsofPhysics's picture

Hey dipshit, a lot of people conrtribute to technological advances, now how many of them profit again?

Fri, 09/21/2012 - 12:59 | 2818439 A Nanny Moose
A Nanny Moose's picture seekers warcry. Some Mexican with a nail gun built my house. Whomever built it, was paid for their time and effort, and ownership transferred.

Just remember your attitude, when your Depends need to be changed, Sunshine.

Fri, 09/21/2012 - 10:21 | 2817734 Spastica Rex
Spastica Rex's picture

Really good point.

Fri, 09/21/2012 - 18:22 | 2819448 billsykes
billsykes's picture

Well that's why they are starting to get the general public to warm up to voluntary euthanasia for those older folks in Europe.

In the next 10-20 yrs as people will start living to 90 or 100 but the dialog is going to start to change to "quality" not quantity. 

Like the old charlton heston movie- soylent green set in the future of 2022 . (trailer)

Fri, 09/21/2012 - 10:07 | 2817650 slaughterer
slaughterer's picture

Silver/Gold will correct over next month.  Gold ==> 1700.  Silver ==> $32.  I sold all my PM paper just now.  

Fri, 09/21/2012 - 10:08 | 2817658 GetZeeGold
GetZeeGold's picture



Sold it for what?


Fri, 09/21/2012 - 10:09 | 2817666 slaughterer
slaughterer's picture

I sold it for market price (1785, 35.15) to buy it back later at lower price.  

Fri, 09/21/2012 - 10:10 | 2817670 GetZeeGold
GetZeeGold's picture



Sold it for what?


Fri, 09/21/2012 - 10:14 | 2817689 Pladizow
Pladizow's picture

He sold his GLD for Fiat!

He never sold any gold, as he never owned any!

Fri, 09/21/2012 - 10:17 | 2817718 TheSilverJournal
TheSilverJournal's picture

I think slaughterer missed the QEternity announcement. Gold's going to be at $2K in a month from now.

Fri, 09/21/2012 - 10:22 | 2817736 Frastric
Frastric's picture

Not with the CME and their crusade against all precious metals and oil...

Fri, 09/21/2012 - 10:31 | 2817782 TheSilverJournal
TheSilverJournal's picture

There will be a smackdown, but not this soon. There's only so many moves TPTB can make to cause smackdowns, so they must be strategic. They'll wait until max pain can be caused. I'm putting it at silver $80.

Fri, 09/21/2012 - 10:49 | 2817862 slaughterer
slaughterer's picture

"There will be a smackdown, but not this soon."   It is happening right now dude.  

Fri, 09/21/2012 - 10:54 | 2817883 TheSilverJournal
TheSilverJournal's picture

Haha, that was some timing! Even so, I seriously doubt this is any meaningful smackdown here.

Fri, 09/21/2012 - 11:05 | 2817927 fuu
fuu's picture

Go DXY go!

Also, when did .5% moves count as a smack down?

Fri, 09/21/2012 - 10:57 | 2817902 tocointhephrase
tocointhephrase's picture


Fri, 09/21/2012 - 11:47 | 2818117 ffart
ffart's picture

How long have you been trading silver, because if a .50 move scares you then you're probably not cut out for it.

Fri, 09/21/2012 - 12:26 | 2818310 mayhem_korner
mayhem_korner's picture



What's this talk about "trading" silver.  Why not just accumulate it?

Fri, 09/21/2012 - 11:23 | 2818033 AvoidingTaxation
AvoidingTaxation's picture




1) In the last eleven years, september and november are the best month in the year for gold.

2) October not particularly bad.


Fri, 09/21/2012 - 12:09 | 2818240 mayhem_korner
mayhem_korner's picture

Gold's going to be at $2K in a month from now.


...and will still be a bargain.

Fri, 09/21/2012 - 10:24 | 2817745 oddjob
oddjob's picture

Troll mantra, I sold all my Gold, but in case it goes up I still have some.

Fri, 09/21/2012 - 10:13 | 2817685 midtowng
midtowng's picture

Trading in an out of this market is very dangerous. No matter how smart you think you are, you can't beat a rigged market.

Fri, 09/21/2012 - 10:22 | 2817731 slaughterer
slaughterer's picture

If you think the run will continue up undisturbed, you are not ackowledging these realities:

1.)  Blythe and her ilk.

2.) CME and their margin games

3.) current structure of options/futures

4.) election/ CB suppresion

5.) Technicals

Those people cursing BB are wrong: BB is a goldbug's best friend right now.  BB is your buddy.

Fri, 09/21/2012 - 10:26 | 2817747 fuu
fuu's picture

"BB is your buddy."

Yes he is, keep the prices low please, ty!

Fri, 09/21/2012 - 10:26 | 2817752 Stuart
Stuart's picture

Don't fight the Fed... or in this case, Don't fight the Fed, the ECB, the Bank of Japan, the Central Bank of China, the Bank of England, the Bank of ......

Fri, 09/21/2012 - 10:36 | 2817805 ParkAveFlasher
ParkAveFlasher's picture

I'm seeing a tip off in spot price ... maybe you will back it up, maybe you won't ... it is "if it looks like a timed pattern, it is."  The climb to the top in '11 IMO looks like a timed pattern as well, all the way from June '08 to July '11 when it blew.  There are humps in the spot price that remind me of holding one end of a rope while beating sine waves into it.

I'm only learning "technical analysis" from reading here, and other places.

God Bless ZH.

Fri, 09/21/2012 - 12:14 | 2818256 mayhem_korner
mayhem_korner's picture



Here's a technical analysis thought for you:

On a chart with time on the X and $/oz on the Y, plot 3 lines: one connecting the current price to 1971, one connecting the current price to 2000, and one connecting the current price to March 2009.  Serve with a 2008 Cabernet and enjoy.

Fri, 09/21/2012 - 13:19 | 2818506 Blizzard_Esq
Blizzard_Esq's picture

Stocks to gold and gold to stocks, ride the waves.

Fri, 09/21/2012 - 10:14 | 2817694 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

I don't know what your strategy was or if its still open, but I salute you for shorting APPL instead of just whining about it like a little bitch. Put your money where your mouth is and follow your convictions... well done, sir.

Fri, 09/21/2012 - 10:12 | 2817671 ParkAveFlasher
ParkAveFlasher's picture

Am I the only one seeing a rocket launch every 8 days or so?

Is my precious shiny getting a pumpjob?

I don't care one way or another, cheap, I stack, expensive, I have to plan a little bit more but I still stack. 

{edit: no, I'm not the only one who is seeing a pump job.  Question is, what drives the frequency, Slaughterer?}

Fri, 09/21/2012 - 10:14 | 2817688 midtowng
midtowng's picture

Short squeezes happen.

Fri, 09/21/2012 - 10:22 | 2817735 Silvergood
Silvergood's picture

Any possible correction will be short in time.  Use your paper to buy physical now!

Fri, 09/21/2012 - 10:45 | 2817838 superbroker1
superbroker1's picture


Fri, 09/21/2012 - 14:33 | 2818833 Mitch Comestein
Mitch Comestein's picture


Fri, 09/21/2012 - 10:08 | 2817655 LongSoupLine
LongSoupLine's picture

Fuck you Buffett.  Fuck you Blythe.

Fri, 09/21/2012 - 10:12 | 2817682 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

Fuck you Bens Bernanke, Fuck you Dyler Turducken, Fuck you Marios Draghi!

Fri, 09/21/2012 - 10:11 | 2817673 disabledvet
disabledvet's picture

I'll see you your Gold Ray Dialo and raise you a WHOLE FRIGGIN Continent...

Fri, 09/21/2012 - 10:11 | 2817675 BrigstockBoy
BrigstockBoy's picture

Scrooge McDuck, man before his time.

Fri, 09/21/2012 - 10:14 | 2817691 yogibear
yogibear's picture

Bernanke, Evans, Dudley, Yellen all in a print fest and basking in the currency devaluing sunshine.

Round-robin currency devaluation. Next Europe, Japan, etc. Poor China is still pegged to the US dollar while it goes down the trash chute.

Who can trash their currency the most going forward. 



Fri, 09/21/2012 - 12:23 | 2818298 WhiteNight123129
WhiteNight123129's picture

What drives currencies one relative one to the other is capital flow, period.

Fri, 09/21/2012 - 10:15 | 2817700 casaananda
casaananda's picture

We can be excited when gold hits 4k/oz. But no matter what, it's nice to be right about an investment over the past 6 years.


Fri, 09/21/2012 - 10:16 | 2817712 Stuart
Stuart's picture

Anyone who does not acknowledge there is official intervention in the gold market is naive or complicit.

Fri, 09/21/2012 - 10:46 | 2817845 slaughterer
slaughterer's picture

+1.  Thanks Stuart.  

Fri, 09/21/2012 - 12:46 | 2818389 WhiteNight123129
WhiteNight123129's picture

Not the way you think stuart, not the way you think....

Fri, 09/21/2012 - 12:25 | 2818303 mayhem_korner
mayhem_korner's picture



Agreed.  But as with gravity, the schemes of men can only intervene in & defy natural forces for so long...

Fri, 09/21/2012 - 10:26 | 2817754 mrfreeman
mrfreeman's picture

What I don't get is why do the manipulators sometimes allow gold to rally strongly, and other times they do their best to cap it or smash it at a certain level?  Like now for example, the commercials are MASSIVELY short on the COT report, just like last Feb 28, plus the lease rates are dropping again.  So you would expect something to happen soon, but it doesn't seem to be the case.  I guess the buyers could be overwhelming them...OR maybe they are waiting as close to the election as possible.  I can't believe Obama wants gold riding high at election time, nothing shows the economy failing more than that.  Grab the popcorn bitchez!

Fri, 09/21/2012 - 10:27 | 2817759 apberusdisvet
apberusdisvet's picture

Beware the dual option expiry month of December for both gold and silver.  Short positions of the usual suspects have increased, not decreased.  One last manipulative smackdown coming.  I would imagine they will attempt to knock $100 off gold and $5 off silver, but they will be killed in the process.  Watch what happens when the GSR breaks 50.

Fri, 09/21/2012 - 10:27 | 2817762 economessed
economessed's picture

Hmmm.  Is gold really becoming "more valuable" or is the dollar just worth less and less?  I see this as part of the collective deception:  report the price gold in dollars, rather than the price of the dollar in gold.  It's the "wealth effect!!!"

Fri, 09/21/2012 - 12:23 | 2818293 mayhem_korner
mayhem_korner's picture



Insightful.  I would go as far as to say that the deception starts with reporting the "price" of gold.  I don't "buy" gold, I convert the diminishing purchasing power of fiat paper into something that will preserve that purchasing power.  So in my head gold should be denominated in terms of what it can buy, not what one has to "pay" to get it.

Stack on, amigo...

Fri, 09/21/2012 - 10:34 | 2817794 Shizzmoney
Shizzmoney's picture

The Fed and CBs are manipulating the price of Gold/Silver because:

A) The price of Gold/Silver is a "layman's indictator" of financial times.  Even a dumb prole understands if Goldspikes, it usually means something is wrong wit hthe economy around him.  He understands this because

B) It gives a rise for the incentive for crime.  Gold will always be prime to be stolen, but before it was usually because the person stealing it wanted to wear it.  Resale to pawn shops was never really for the striving of INCOME; they would do so usually to satisfy some vice (gambling/drugs/etc). 

Now? If Gold gets to $2000, $3000, $4000 dollars? You will only see crime rise.  Now, a theif can easily see Gold and Silver help paying for food, rent, and of course, a new iPhone.  

Thanks to the Fed and Central Banks, who have enabled Wall Street thieves for years......they NOW have given commoner thieves (including those who sell tungsten) incentive.


Fri, 09/21/2012 - 11:03 | 2817822 sasebo
sasebo's picture

Really quite simple --- how do you grow an economy? With savings.

Has there ever been an economy grown without savings? NO.

But asshole bernanke is trying to get people to buy STUFF with money created out of thin air at ZIRP. Yeah, right.

You can't grow an economy by consuming all you PRODUCE ---

But delusional bernanke is trying to do some kind of wealth stupidity crap by buying up debt, aka assets. With what?

Digital money created on a computer terminal by some clerk. Wealth is not digital money --- its stuff produced by working people, not bankers & politicians. Sorry. That's all.

Fri, 09/21/2012 - 11:18 | 2817951 Shizzmoney
Shizzmoney's picture

Ben says the purpose of this QE is to "make people feel wealthier".

The guy, went to Harvard.  Does he not understand how fucking stupid that sounds?

You know what makes people wealthier, you porn-bearded prick? INCOME. And preferabli income that keeps up with inflation.

What an asshole.

Fri, 09/21/2012 - 10:46 | 2817849 indio007
indio007's picture

Redeeming FRN's = Talking to an empty chair....

but it has a great personality....

Fri, 09/21/2012 - 11:56 | 2818164 WhiteNight123129
WhiteNight123129's picture

WAIT FOR THE HANDLE TO FORM! We already have the cup...


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