This page has been archived and commenting is disabled.

Gold Jumps As Citi Says Gold Sell Off Over, Reiterates $2400 Target

Tyler Durden's picture


Wondering why gold has moved by over $20 in the last few minues? Wonder no more - according to a note just released by Citi analyst Tom Fitzpatrick, the gold correction "has run its course and a rally is now back on the cards." Granted it is not all smooth sailing - "Gold may drop to $1,550 before turning", but when the turn comes, Fitzpatrick sees it as going all the way up to $2,400. He has the following technical observations: "Only a weekly close below $1,535/oz means corrections may be deeper." The result can be seen on the chart below. Incidentally this is a 1:24 scale replica of what will happen once the Fed and ECB proceed with the only logical step which is doing what they do best. Unless, of course, the plan is to have a modest war in the middle east to distract everyone from the economy. Because we have never seen that movie before.

From Citi:

  • Held the 55 week moving average on a weekly close basis ($1,567)
  • Failed to post a weekly close below the Sept low ($1,534)
  • Remains in the bullish channel ($1,544 this week)
  • The correction down looks to be over as we stabilise at these support levels and a rally back up is on the cards
  • Resistance levels are at $1,802 followed by the trend high at $1,920.
  • Our long term target is $2,400.

  • Held the trend and 200 day moving average as support.
  • Positive momentum divergence reflects weakness in the move down here and warns of a turn back up
  • Held the low from Oct 2011 and has formed a double bottom within a triangle
  • A rally through 139k would open the way for a move to the double bottom target of 153k (20% higher)

  • The move down on the Gold / Bonds Ratio has been almost exactly the same as that seen in 2008
    • The 2008 correction down was 2.81 points on the ratio over 99 sessions
    • The 2011 correction down which hit a low on Dec 29th was 2.84 points over 93 sessions
  • We also have positive momentum divergence on the chart - similar to that seen in 2008 at the lows of the move down.
  • The trend resistance from the highs converges with the 200 day moving average (also like 2008) at 12.21 and a rally through there would be a decent bullish break.

  • Tested and so far held the support levels that provided the top of the range in 2010
  • Also held the 76.4% retracement of the last rally from Jan 2011 to the highs in Aug 2011 (0.1250)
  • The rising trend line also converges with these supports
  • The 2009 correction down was 30%. The move down seen from Aug 2011 was 28%


  • Gold has held good supports in the $1,550 area
  • Gold is showing signs of strength against the DXY Index and the equally weighted basket of G10 currencies
  • Gold looks to now outperform both Bonds (T-Bond) and Stocks (Dow)
  • Unless and until we see a weekly close below $1,535, we believe the uptrend in Gold has resumed and a move to $2,400 throughout the course of this year is on the cards.

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 01/04/2012 - 11:29 | 2032689 silver500
silver500's picture

Gold Bitches

Wed, 01/04/2012 - 11:29 | 2032705 GetZeeGold
GetZeeGold's picture



BIBB......Buy it back bitchez.


Wed, 01/04/2012 - 11:31 | 2032713 silver500
silver500's picture

Market goes down, Gold goes up...

Normal Service has resumed. (For now anyway)

Wed, 01/04/2012 - 11:42 | 2032756 strannick
strannick's picture

Great stat, since it is all about the bonds...


  • The move down on the Gold / Bonds Ratio has been almost exactly the same as that seen in 2008
    • The 2008 correction down was 2.81 points on the ratio over 99 sessions
    • The 2011 correction down which hit a low on Dec 29th was 2.84 points over 93 sessions
  • We also have positive momentum divergence on the chart - similar to that seen in 2008 at the lows of the move down.
  • The trend resistance from the highs converges with the 200 day moving average (also like 2008) at 12.21 and a rally through there would be a decent bullish break.
  • Wed, 01/04/2012 - 12:30 | 2032917 Popo
    Popo's picture

    Wait. What?   We suddenly listen to Citi analysts, just because they say what we want to hear?

    I hate to be the bearer of bad tidings, and I'm quite sure I'll be junked into oblivion for this:  But there's a very obvious problem with this call:


    Today's moves in oil are going to *seriously* tie Bernanke's hands when it comes to more easing.

    I'm highly suspicious of Citi's call for higher gold on the backs of the biggest oil move in weeks.  What I read here is this:  Citi wants to sell into strength because their inflationary expectations (ie: expectations of Fed easing) are falling apart with the current spike in oil prices, and Europe's decision to boycott Iranian oil.

    Bernanke is probably going to have to wait until oil comes back into line with his sub $100 expectations before he can even think about another round of easing.   And that spells more trouble for gold.  

    So what does Citi do?  They trot out an analyst who tells the gold bugs exactly what they want to hear.   


    Wed, 01/04/2012 - 12:58 | 2033039 jmac2013
    jmac2013's picture

    If one is to believe the goldbugs that the futures market is manipulated to keep PM prices lower, couldn't the cartel do the same to oil?  Keep QE going for banks and governments and flood the commodities markets with limitless naked short selling?

    Wed, 01/04/2012 - 13:12 | 2033081 flattrader
    flattrader's picture

    >>>couldn't the cartel do the same to oil?<<<

    Why would they when every J6P needs oil and hardly any of them want gold?

    Gold and oil are not fungible for purposes of this corollary.

    Try burning gold in your gas tank.

    Much more money to be made in letting oil rise and gold fall (within parameters)...for the moment.

    Wed, 01/04/2012 - 14:30 | 2033281 eureka
    eureka's picture

    Unless you're tired of getting fucked by US FED RESERVE & EMPIRE.

    IF YOU WANT FREEDOM - wake up and fight - for Ron Paul 2012.

    The Republican Elite is trying to destroy Ron Paul> TO WIT:

    Wed, 01/04/2012 - 14:42 | 2033300 oddjob
    oddjob's picture

    Try burning gold in your gas tank.

    Naive view from the consumer. Now view from the producer. Trade your countries valuable resource for fiat or fiat33?


    Wed, 01/04/2012 - 17:00 | 2033654 TheGardener
    TheGardener's picture

    Try dropping a good delivery bar (400 OZ) in your heating oil storage tank. Warm feeling, but kind of hard to retrieve and convert.Then again you might call yourself Methusalem if those storable means of oil consumption ever run out. But still worth it, unless we have a quick recovery this century.

    Wed, 01/04/2012 - 13:13 | 2033076 YHC-FTSE
    YHC-FTSE's picture

    "I'm highly suspicious of Citi's call for higher gold on the backs of the biggest oil move in weeks."

    Ditto. And said as much (Even without oil moves) last week in anticipation of commodities forecasts. I wanted the squids to quote low gold prices for this quarter and I wondered then what they could possibly have in store for goldbugs if it went the other way.

    edited "a couple" to "last".

    Wed, 01/04/2012 - 13:15 | 2033090 navy62802
    navy62802's picture

    The answer is of course the Keynesian Final Solution ... War. Where we sacrifice our poor people by sending them to kill Iran's poor people. When the Keynesians have run out of ideas, their only answer is war.

    Wed, 01/04/2012 - 13:42 | 2033169 YHC-FTSE
    YHC-FTSE's picture

    +1 Seems very likely, which is unfortunate not just for the poor, but for everyone/everything. 

    Wed, 01/04/2012 - 14:10 | 2033251 malek
    malek's picture

    "We" listen to Citi analysts? I don't know on your side, but I for sure didn't move the gold price by $20.

    Just watching in astonishment here...

    Wed, 01/04/2012 - 15:09 | 2033342 GiantVampireSqu...
    GiantVampireSquid vs OWS UFC 2012's picture

    Everything Bernanke does has only one goal.  The super rich get richer, if there is money to be made with more QE, he will do it.  Oil import bans, risk of invasion, sure the price of oil may look like a smoking gun for inflationists, but Bernanke has pluasible deniability with all the other shit thats going on.

    The ECB is engaged in massive qualitative easing, further debasing the EURO, don't forget the currency wars.  I could care less who says what, and you are right to read between the lines.  For me gold is diversification, and long term the fundamentals are there for gold to retain it's purchasing power.  If the price collapses tommorow, or next year I'll be happy because I can buy some more.  If it goes up, I'll be happy I own some.  I cannot see anyone, anywhere increasing the quality of money, or reducing the quantity of money, so BTFD.

    Wed, 01/04/2012 - 19:54 | 2034043 dugorama
    dugorama's picture

    whoa! wait a minute here.... what?  qualitative easing? what the h - e - double hockey sticks?  we're now trading on relaxing standards on the quality of money? 

    I need a refresher course in monetary policy.............

    Wed, 01/04/2012 - 20:58 | 2034196 MoneyScraper
    MoneyScraper's picture

    No limit on debasement--anywhere?  OK, that's how it feels (since Nixon "we're all Keynesians now..")  BUT, if only theoretically, there has to be a bound, right?  When no sovereign/bank bails out another--a true "Lehman" moment--when the Saudis or Chinese stop accepting dollars.  Then isn't some kind of "Marshall Plan" restructuring finally done, if for no other reason than to get the zeroes down on debt clocks...  What price GLD then?  Ergo, better oil, water, food, farmland, shelter IMO...

    Thu, 01/05/2012 - 12:57 | 2035861 Papasmurf
    Papasmurf's picture

    Higher oil prices aren't important because new cars have better fuel economy.  This is like the "miracle of productivity growth" greenspan talkes about every time the ponzi market went up from fed printing.

    Wed, 01/04/2012 - 11:52 | 2032796 GOSPLAN HERO
    GOSPLAN HERO's picture

    Do bitchez lick butts?

    Wed, 01/04/2012 - 11:49 | 2032784 GOSPLAN HERO
    GOSPLAN HERO's picture

    Buy gold, bitchezoids!

    Wed, 01/04/2012 - 11:38 | 2032738 midtowng
    midtowng's picture

    I hate it when Citi agrees with me.

    Right now I'm sitting on physical Gold/Silver and a bunch of cash. I'm waiting for the rally to become stronger and to see how the Euro plays out before buying more.

    Wed, 01/04/2012 - 11:50 | 2032789 HungrySeagull
    HungrySeagull's picture

    Sit tight.

    Your Metal is YOUR asset if YOU OWN PHYSICAL.

    You might need that cash to get the Gasoline once the shooting starts. Or not even then.


    Just because one person says a number high and low and predicts a value in a future no one knows, the best we can do is stick to our own guns and continue to do what works for us.

    Not chase after two birds when one is in your hand already.

    Wed, 01/04/2012 - 11:26 | 2032691 tmosley
    tmosley's picture

    I'm sure it has nothing to do with the act of war the west just pulled on Iran.

    Wed, 01/04/2012 - 11:29 | 2032702 WonderDawg
    WonderDawg's picture

    So do we fade this call? I mean, it's Citi, right? Or did we switch and now agree with these turds?

    Wed, 01/04/2012 - 11:36 | 2032728 tmosley
    tmosley's picture

    You ignore it.  There is no viable information transmitted.  Trying to play the contrarian (by fading such recommendations) or the sheep (by trusting them) will get you killed.  You have to think for yourself, and do everything you can to minimize your risk.

    Wed, 01/04/2012 - 11:52 | 2032797 WonderDawg
    WonderDawg's picture

    True. Now if GS comes out and says the gold sell off is over, the urge to fade may be too strong.

    Honestly, though, I don't really listen to any of the TBTFs, just do my homework and make my own decisions.

    Wed, 01/04/2012 - 11:42 | 2032752 tekhneek
    tekhneek's picture

    Just because Citi looked at a chart and decided to vomit on a keyboard should have no direct impact on your decisions.

    Not everything's a contrarian indicator. Some people just say stupid bullshit with no rhyme or reason.

    If Cramer or Tilson come out and say they're going short gold then there's your confirmation but don't play stupid. You know the name of the game.

    Keep stackin'

    Wed, 01/04/2012 - 18:22 | 2033823 YHC-FTSE
    YHC-FTSE's picture

    Well, your views are certainly popular and if you had typed "Not everyONE is a contrarian indicator", I would heartily agree. This is Citi we're talking about and not some honest, hard working Joe who can do the maths. We've yet to see all the commodities analysts put their neckties on the line so it is early days but I would rather eat the bits of wildlife my cat drags in than believe an analyst from Citi, even if his surname doesn't end with "man". Keep stackin' absolutely, but it's nice to know what's ahead, especially if a lower echelon squid calls $2400/oz.

    Wed, 01/04/2012 - 12:38 | 2032957 TheGardener
    TheGardener's picture

    Calm down, it is just an act of international taxation.

    You know, or of just now, that not giving to them is some form of intentionally defrauding global taxes, or to be specific on their martially inflated terms : finance of terrorism !

    Hope none of us pays taxes to international state terrorism.
    If you do as I do on consumption taxes, god be with us.

    No one want`s war of course, but we duly have to collect our dues..

    P.S. Disclaimer : No one wants` to attack the last Aryan nation, they will have asked for it themselves , fools , as they are...Aryan none the less, fools all the more...

    Wed, 01/04/2012 - 11:27 | 2032693 hugovanderbubble
    hugovanderbubble's picture

    Fitzpatrick is great guy,

    also Maximov and Medina.

    Wed, 01/04/2012 - 11:28 | 2032700 LongSoupLine
    LongSoupLine's picture



    looks like Citi needs to dump more gold at a higher price to cover their massive deleveraging (see: drowning) plan.

    Wed, 01/04/2012 - 11:29 | 2032704 Cdad
    Cdad's picture

    VIX...looks like it has finally found its footing.  @23 and Europe approaches the yet another instance of stupidity, as was all the hyper chatter about the gold rally being over.

    Stupidity abounds...brought to you by your corrupt and desperate NY, NY financial services industry.

    Wed, 01/04/2012 - 11:29 | 2032709 Hephasteus
    Hephasteus's picture

    That channel chart is fucked. This is the endgame. This is when global takeover happens ready or not. The only lines are going to be straight up and down.

    Wed, 01/04/2012 - 11:31 | 2032716 Spigot
    Spigot's picture

    Corrected Press Release:

    "We have finished suppressing gold to prevent the profitable pay out of in the money gold calls at 1600 and above. We are now positioned on the long side and have released out supression program so that you can provide us with healthy profits. We thank you for your cooperation in this matter. Yours, with warm hugs, TPTB.

    Wed, 01/04/2012 - 11:37 | 2032732 francis_sawyer
    francis_sawyer's picture

    Corrected PR (alternate version)

    We all received our year end bonuses and quickly converted them to physical bullion during the shakeout...

    Thank you for playing...


    Wed, 01/04/2012 - 12:21 | 2032891 vato poco
    vato poco's picture

    Nice Corrected Press Release. Very cynical, very ZH, probably very correct.

    So how come no one ever seems to raise the possibility that our buddies the Iranians (with or without our complicity) are doing exactly the same thing in re oil? They're not stupid - surely they must have noticed the direct cause-and-effect relationship with "we talk tough and crude goes up; we ease off and crude goes down", right? They DO sell options on oil, don't they? But nooooo, here on ZH it's all about the imperialist warmonger Great Satan doing the bidding of their sinister Zionist puppetmasters, and hassling a small, freedom-loving idyllic land just to steal their oil and rape their women and/or cattle & goats. Just like the profs told us back in college!

    Why doesn't the simple explanation - 'creating the future brings great profit' - apply there?

    Wed, 01/04/2012 - 12:30 | 2032912 Spigot
    Spigot's picture

    It does in spades. That's how the rich get richer, regardless of the race, religion or creed. Its equal opportunity fucking at its finest!

    Wed, 01/04/2012 - 15:24 | 2033402 toadold
    toadold's picture

    The Iranian Rial has been dropping like a gut shot goose. People with money have been converting or trying to convert it into foreign currencies and move it out of Iran.  The Mullahs have been screwing them on the official exchange rates.  A lot of fear and loathing going on in country, especiallly with the fuel subsidies cut off.  I kind of wonder what the black market for gold and jewels is now. 

    Wed, 01/04/2012 - 11:32 | 2032718 The Swedish Chef
    The Swedish Chef's picture

    Gold is just a bubble. RetardTrader and MillionDollarDouchebag said so.

    Wed, 01/04/2012 - 13:45 | 2033175 fuu
    fuu's picture

    Did she finally find what she was looking for up in there?

    Fri, 01/06/2012 - 06:31 | 2038559 The Swedish Chef
    The Swedish Chef's picture

    No but after six or so months looking management here at ZH found her offensive. My best guess is that she got in the way of advertising.

    Wed, 01/04/2012 - 11:37 | 2032729 San Diego Gold Bug
    San Diego Gold Bug's picture

    $2400 will seem cheap when panic in the currency markets goes into overdrive.  This is still a year or two away as the banksters have lots of tricks (most not leagal) and ammo left including the printing presses which they are now disguising as swaps.  Thanks for the tip ZH on 

    Wed, 01/04/2012 - 11:51 | 2032792 HungrySeagull
    HungrySeagull's picture

    And I thought 200 was stiff with 1500 a fantasy.


    I tell you this. I quake for the millions who have none.

    Wed, 01/04/2012 - 12:54 | 2033022 GBnotEU
    GBnotEU's picture

    Can you please stop plugging your website. I suspect that I am not the only person here who finds your spamming really annoying. The Bug part of your name is spot on. You really do bug me.

    We buy gold. We know where to buy gold.

    You plug your website every time you post. In fact it is probably the only reason that you post here. Give it a bloody rest!

    Wed, 01/04/2012 - 11:39 | 2032740 mess nonster
    mess nonster's picture

    If they print, then gold has to go up. The only "modest" war in the ME has to exclude Iran. War with Iran = Global nuclear free-for-all.

    Wed, 01/04/2012 - 11:46 | 2032775 MFL8240
    MFL8240's picture

    "If they print"???  Seriously, what do you think they are doing to keep bond yields where they are while all the goverments of the world are dumping treasuries??  You actually believe Bernanke?  lol, no one belives anything he says, he is the only person with less credibility than Obama and Geithner.

    Wed, 01/04/2012 - 11:55 | 2032811 SheepDog-One
    SheepDog-One's picture

    Tryin to fill that bottomless pit with faster dump trucks....the more they dump in the deeper the hole gets.

    Good luck front running the lunatics.

    Wed, 01/04/2012 - 11:40 | 2032743 Cognitive Dissonance
    Cognitive Dissonance's picture


    Wed, 01/04/2012 - 11:42 | 2032757 sabra1
    sabra1's picture

    still amazes me how words can direct market movements! that's all that's left!

    Wed, 01/04/2012 - 11:57 | 2032817 SheepDog-One
    SheepDog-One's picture

    But I bet this wasnt the only 'words' out there moving gold, oil also shooting higher as well. We'll hear more in a few hours.

    Wed, 01/04/2012 - 11:43 | 2032758 MFL8240
    MFL8240's picture

    More on the US clown show.  Are they forgetting the crime lab in DC will print all the money needed to supress Gold?  Up $20, down $50.  That why the people should get the hell out of this charde in Chicago and into Physical Gold and Silver.  

    Wed, 01/04/2012 - 11:49 | 2032785 SheepDog-One
    SheepDog-One's picture

    Problem is, its hardly 2008 anymore where the floor for oil was around $60 and they had leeway to print. 

    'They'll print all the money needed'...yea and then they can then enjoy the new $130 floor for oil.

    Hey, GO for it!

    Wed, 01/04/2012 - 11:43 | 2032763 Worker Bee
    Worker Bee's picture

    Citi says gold is going down they are idiots. Citi says gold is going up they are omniscient gold calling Gods.

    Wed, 01/04/2012 - 11:47 | 2032777 SheepDog-One
    SheepDog-One's picture

    Well I dont know who youre claiming said all that, in fact many of us here warned they would sell off gold. So do you own any gold?

    Wed, 01/04/2012 - 11:50 | 2032791 Worker Bee
    Worker Bee's picture

    I cant afford gold. I do have a really nice gold (plated) Obama Medallion on a 24k(ish) chain though.

    Wed, 01/04/2012 - 11:52 | 2032798 SheepDog-One
    SheepDog-One's picture

    In the words of Tyler Durden at the dry cleaners-  'Oh....youre a moron...'

    Wed, 01/04/2012 - 18:26 | 2033855 smiler03
    smiler03's picture

    Somebody says they can't afford gold and you call them a moron.

    What a twat you are.

    Wed, 01/04/2012 - 11:54 | 2032799 HungrySeagull
    HungrySeagull's picture

    Silver is good.

    If you are careful and gently accumulate silver coin, eventually on a long enough timeline you will own gold.

    I did myself for a few weeks on one coin that netted me a 300 some dollar gain which I put back into Silver and got out before it fell straight to something like 26 dollars and immediately within minutes settled on the hard deck of 30 dollars.


    It was crazy but you gotta know when to hold em and when fold em.


    I am just sorry that I was sleeping when Kitco showed a 29 to 25 something dip over 10 minutes during the night.

    Wed, 01/04/2012 - 12:45 | 2032983 Judge Arrow
    Judge Arrow's picture

    in the short term, this works more often than not

    If Silver moves up % wise faster than Gold then BUY the SPY (buy calls).

    If Silver moves down % wise faster than Gold then SELL SPY (buy puts).

    Wed, 01/04/2012 - 14:08 | 2033241 Mesquite
    Mesquite's picture

    >Worker Bee...

    Har har har...Very good...Me too!... <](;-)-}=<

    Wed, 01/04/2012 - 11:57 | 2032818 Worker Bee
    Worker Bee's picture

    Who is the "they" that would sell off gold? If the market is being manipulated woudnt it be institutions like Citi doing it? Im just saying that all these ANALysts are idiots until they say something that fits our world view..just an observation. Im not a moron..I graduated from Everest College with honors!

    Wed, 01/04/2012 - 12:07 | 2032844 SheepDog-One
    SheepDog-One's picture

    The CB's.

    Wed, 01/04/2012 - 11:48 | 2032781 Spigot
    Spigot's picture

    Its called being "the water boy". In this case they are given the task of signalling the intentions of TPTB, who (IMO) always find a way to front run whatever direction they choose to move the markets.

    Wed, 01/04/2012 - 11:43 | 2032764 Monedas
    Monedas's picture

    Maybe I can sell that Maple I've been carrying in my wallet since September....this month ?  I'm afraid the condom ring it leaves will be permanent !  Monedas 2012  Comedy Jihad Seeing A Flat Screen LED HDTV In My Future !

    Wed, 01/04/2012 - 11:55 | 2032808 HungrySeagull
    HungrySeagull's picture

    Forget the condom ring, look out for the imprint of the Colt inside it's holster.

    Wed, 01/04/2012 - 12:10 | 2032855 Monedas
    Monedas's picture

    ??????   Was my Fatwa approved ?

    Wed, 01/04/2012 - 12:36 | 2032951 Dave Thomas
    Dave Thomas's picture

    Monedas, I used to carry a liberdad in my wallet. Some female clerks used to roll their eyes, a giggle is better than a sigh.

    Try one of those 5 oz pandas and see what they do.


    Wed, 01/04/2012 - 15:17 | 2033385 Monedas
    Monedas's picture

    Supersize !!!    A friend of my brother's wears a 5 trounce Panda on 18k chain and bezel !  We tell him he's gonna get his throat cut....but he likes the attention?   Goes around in the front yard without a shirt on ?    Drives a vintage Fiat 2000 sportscar, no shirt, gold chain and sometimes a little drunky ?  I don't think he's gay....but if he had been born in the 60s he would for sure be gay ! Does that make sense ?

    Wed, 01/04/2012 - 16:11 | 2033516 ffart
    ffart's picture

    I did a google image search for Fiat 2000 and got what looks like an armored fighting vehicle from WW2. Putting a SILVER coin on a gold chain is just tacky though.

    Wed, 01/04/2012 - 11:43 | 2032765 CvlDobd
    CvlDobd's picture

    I thought technical analysis didn't work? Are we carving out an exception for gold?

    Wed, 01/04/2012 - 11:46 | 2032770 EL INDIO
    EL INDIO's picture

    Yep. All he said is if Gold goes up then it is going up unless it goes down in which case it would be going down !


    Can someone give a prediction without ifs and buts ?

    Wed, 01/04/2012 - 11:54 | 2032805 Snidley Whipsnae
    Snidley Whipsnae's picture

    Your comment reminds me of Pres Truman's famous statement...

    "I would like to find an economist with one hand"

    Wed, 01/04/2012 - 11:45 | 2032771 SheepDog-One
    SheepDog-One's picture

    Robo gnashing his teeth and kicking himself in the ass 'WHY did I call the gold top at $900 and sell....WHYYYYYYY'!!!

    Wed, 01/04/2012 - 11:52 | 2032795 tekhneek
    tekhneek's picture

    There was a guy here like a month ago saying his "target" for gold was like $1,200 by the end of January and like $900 by June.

    I think he said silver would be like $18 too and then $12.

    They usually just make new accounts though. He'll be back when gold drops from $2100 to $1800.

    Wed, 01/04/2012 - 11:53 | 2032800 SheepDog-One
    SheepDog-One's picture

    SURE I remember him! Trolls...LOL.

    Wed, 01/04/2012 - 12:41 | 2032966 mick_richfield
    mick_richfield's picture

    We should start a collection of like ZH baseball cards with our most famous trolls, their avatars, famous sayings, and stats.  Like "Most Downticks for a Single Post",   "Career Downticks", etc.

    Like:  "You can dig it out of the ground for five dollars."

    I would definitely collect these.


    Wed, 01/04/2012 - 18:35 | 2033869 smiler03
    smiler03's picture

    What I'd like to see is an accessible database of all ZHers predictions for what and when and the date it was made.

    Just a small task for a Geek, I'm sure :O)


    edit: and the actual outcome.

    Wed, 01/04/2012 - 11:48 | 2032780 Frank N. Beans
    Frank N. Beans's picture

    let's see...

    Banks need QE3+

    Bernanke wants to print but can't because...

    This requires big drop in stock market, but...

    Stock market not cooperating, so ...

    US pretends (or not) war is coming, followed by acts of war

    Stock markets swoon, recession acknowledged by US 

    Presto chango, QE3+ enacted!

    Gold jumps!

    Stocks jump!

    Bankers happy!

    Everbody (who's important) wins!



    Wed, 01/04/2012 - 12:05 | 2032793 SheepDog-One
    SheepDog-One's picture

    Isn't the problem with that scenario they'd go thru all that, and maybe get back to about where we are now, only with $140 oil as well? 

    Wed, 01/04/2012 - 14:46 | 2033310 Think for yourself
    Think for yourself's picture

    who in TPTB cares about $140 oil if it gets them to kick the can down for a few months while giving them more time to get their next step ready?

    Wed, 01/04/2012 - 19:49 | 2034033 fnord88
    fnord88's picture

    corrrect me if i'm wrong, but wouldn't a higer price of oil mean more demand for US dollars? Wouldn't TPTB love that?

    Wed, 01/04/2012 - 12:49 | 2033001 DosZap
    DosZap's picture

    Frank N. Beans

    THe FED has never stopped printing, they are holding up the EU, and they finally got smart, and are just doing what they want,without announcing it, and that keeps the metals mkts low, and the sheeple from bitching.

    I cannot believe you have not figured out the game,their WAY past anything labeled just are not in the loop any longer.

    What you do not know will kill you..........................

    Wed, 01/04/2012 - 11:48 | 2032782 San Diego Gold Bug
    San Diego Gold Bug's picture

    The Trend Is Your Friend.

    Wed, 01/04/2012 - 12:23 | 2032886 Monedas
    Monedas's picture

    Where's a good LCS in San Diego.....San Diego Coin and Bullion ?   For us little guys !

    Wed, 01/04/2012 - 12:29 | 2032910 San Diego Gold Bug
    San Diego Gold Bug's picture

    Monedes,  I use to use SD Coin & Bullion until I found Liberty Coin & Precious Metals.  They are located in Del Mar.  I found them on the website.  They are large from what I can tell and their prices are as good or better than Apmex and Gainsville.  Here is the link


    Wed, 01/04/2012 - 13:16 | 2032990 Monedas
    Monedas's picture

    Thanks ! Don't worry about the red arrows....some Iranian losers who've lost their asses in paper gold over and over again ! You come across as sincere....and shall we say...comfortable !    I'm reluctant to sell my Maple and won't at these prices....but, what the heck (Hell) I have to spice up my Social Suck budget once in a while !    Monedas   PSA:  I'm not picking on's just my "Joke du Jour"....Monedas 2012 !

    Wed, 01/04/2012 - 12:57 | 2033032 GBnotEU
    GBnotEU's picture

    Spam, spam, spam, spam, spam, spam, spam, spam, spam, spam, spam, spam, spam, spam.

    Wed, 01/04/2012 - 13:20 | 2033065 Monedas
    Monedas's picture

    VAT is a bitch ! Buck up !     Brits see the Menu at CompareGoldPrices and they go nuts !

    Wed, 01/04/2012 - 14:50 | 2033325 RichardENixon
    RichardENixon's picture

    Would you like spam with that?

    Wed, 01/04/2012 - 15:27 | 2033409 Monedas
    Monedas's picture

    I think people are not understanding San Diego Gold Bug (look at his post further up) ! He's buying with both hands ! He's saying the trend is up....although it's just starting ! I think English is not his first language....but don't worry about him....he's doing just fine....big time !

    Wed, 01/04/2012 - 12:01 | 2032830 css1971
    css1971's picture

    Yeah this seems to be the crash which bottomed mostly on Oct 4th. Which everybody[1] missed cos the CBs stepped in.


    Wed, 01/04/2012 - 12:17 | 2032876 Bulletsnbullion
    Bulletsnbullion's picture
    Ned Naylor-Leyland: “The Chain of Custody Behind Gold’s Price Setting Mechanism Appears to be Breaking”

    I had the chance to speak with Ned Naylor-Leyland yesterday, Investment Director with Cheviot Asset Management, and adviser to an offshore precious metals fund. It was a spectacular interview, as Ned is one of the few truly free thinkers in the investment business today.

    During the interview Ned shared his thoughts on the new PAGE(Pan Asia Gold Exchange) launch in 2012 & the great opportunities it will provide investors, the recent pullback in gold and silver, and what may end up taking gold to go much higher levels.

    Read more »
    Wed, 01/04/2012 - 12:29 | 2032909 Sneeze
    Sneeze's picture

    Gold's gone MOMO.

    Wed, 01/04/2012 - 12:50 | 2033008 Judge Arrow
    Judge Arrow's picture

    In the short term this approach usually works

    If Silver moves up % wise faster than Gold then BUY the SPY (buy calls).

     If Silver moves down % wise faster than Gold then SELL SPY (buy puts).

    Wed, 01/04/2012 - 12:50 | 2033011 Ignorance is bliss
    Ignorance is bliss's picture

    I'd rather own Gold or Silver vs. the IOU from an over indebted ponzi nation. Figure the odds of continued Dollar devauation....Has the dollar ever increased in value over the long run? Last I checked its lost 95% of its value from the 1930s.


    Citi, Soros, Goldman, JPM, BofA etc. only have one mission. To take your money and make it their own. As far as I am concerned whatever they say makes as much sense as the stench coming from my ASS.

    Wed, 01/04/2012 - 13:19 | 2033101 sdmjake
    sdmjake's picture

    "Own gold vs IOU from ponzi-ville" ---BINGO!

    Wed, 01/04/2012 - 12:52 | 2033014 Shizzmoney
    Shizzmoney's picture

    Report came out today that crime was down 6.4%, even as joblessness went up.

    Reason? Gold prices haven't bloated (yet).  Granted, it's at an all time high; but it relative to the risk.  EVen a petty criminal knows trying to just steal an OZ at $1500 isn;t that much of a risk (because $1500 don't go as far as it used to - especially in the drug market).

    But if Gold were to get to $2500? $3K?  Higher (as Mike Maloney thinks it will)?

    Social disorder will begin.

    Wed, 01/04/2012 - 15:40 | 2033431 Urban Redneck
    Urban Redneck's picture

    I guess the Ministry of Propaganda has decided that copper theft isn't a crime...

    Wed, 01/04/2012 - 13:52 | 2033197 BigMike
    BigMike's picture

    If I were Obama I'd push for another round of QE or NGDP targetting while at the same time releasing oil from the strategic petroleum reserve.  In the short run, you can goose inflation and 'growth' while at the same time keeping oil prices in check. 


    Obama released oil from the SPR last year, who is to say he try and pull something like that again?  


    If the Iran thing doesn't blow up in the next few months, the oil price could come off as well.  


    I'd love to see gold pull back to the $1450 area, while silver bottoms at $24.50-$25.00 btw.  The gold/silver ratio would also top out at 60 before heading lower.  

    Wed, 01/04/2012 - 14:25 | 2033275 GoodBoyFX
    GoodBoyFX's picture

    is it me or Citi trading desk is very vocal in their trading ideas? Why is that? we don't hear any other bank share their ideas. Once in while Goldman Sachs gives ambigous calls. What is the motive of these 2 by publishing these ideas? one possibility is that they want us (ill-informed traders) to follow their fake calls and become victims of stop hunts by their network.

    Wed, 01/04/2012 - 14:35 | 2033290 ciaoant1
    Wed, 01/04/2012 - 20:29 | 2033364 cranky-old-geezer
    cranky-old-geezer's picture



    Thanks for reminding me why technical analysis (chart gazing) is bullshit.

    Wed, 01/04/2012 - 16:11 | 2033514 Bansters-in-my-...
    Bansters-in-my- feces's picture

    So am I reading that the Tylers think printing of money by the Central banks is "logical ?

    "the only logical step"

    Whatz Up...?

    Wed, 01/04/2012 - 19:47 | 2034019 Rynak
    Rynak's picture

    Fake jump, just as the fake plunges.

    Just look at the 1Y stats damnit - they since the middle of last year have been doing this over and over.

    If you need to buy, then buy when they artificially dump it, instead of when they artificially pump it.

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