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Gold, Silver Surge
Gold finger? Or did the market just get it through its greasy, vacuum-tubed head that the only option for the status quo cabal to preserve said status quo is to print, print, print? Or, perhaps this headline from the FT is finally getting some play: "Italian government on brink of collapse." Or, perhaps this one: "Eurozone crisis fund ‘may be weeks away’." Or, has the break out, predicted yesterday, commenced? Stay tuned to find out.
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Hmm.... QE3 ? FED has no case to push QE3, unless China accerlerates the reduction the US treasuries holdings. That mean FED will have to buy everything.
Then the stock market should goes up also.
Lots of people still don't understand gold. Including many who think of it as a trading vehicle.
Well at least we know we are in the right boat when the SHTF!
I actually added to my stockpile this morning. Sorry guys. Will try to be more gentle with future purchases.
+ 1
Well that explains it all. Thanks for letting us know. We also appreciate your efforts to be more gentle in the coming days.
Looking at a weekly gold chart it looks like we've been just consolidating in a 1600-1700 range for the past month. Until it breaks out of this range I won't be getting too excited. Bullish breakout does seem more likely at this point though.
It's a rare thing for me to quote from CNBS. But John Carney wrote an article that illustrates more of what I mean by The Biflation Conundrum that has baffled all the most sophisticated economists and bond investors for the past 4 years. He sees a little bit of the light of truth (but still has far to go to full comprehension):
http://www.cnbc.com/id/45029807/
Say a country bought a few hundred physical tonnes from somewhere, how would the electronic paper markets even reflect this? Provided that news of the purchases was not made known to the public.
Depends where that "somewhere" was. If it was off the open market, then there would be a dramatic effect. If it was done in secrecy between two central banks, none at all, until the sale was reported, at which point it would likely rise, as it did after India's 200 ton purchase.
Nope. Apples to oranges. Surge was pobably provoked by 2 big news items in currencies this morning: Dollar reached postWW2 low against yen with vocal threats of intervention, SNB says it will intervene to keep Franc below target without limits. Translated: the strongest currencies will get once again diluted, they can't be counted on as 'safe havens' and gold is the only lifeboat that floats. Cash flowing out of those currencies and into gold.
The "bitchez!" are back.
Silver to 42 in a week.....
Actually, I see this as just another example of gold moving opposite to expectations because of manipulation.
The options expiry suppression game became too crowded with retail traders, so TPTB decided to squeeze the shorts and bank some coin.
This in turn will lure in all the gold bugs who think that rising gold prices during options expiry signals some sort of fundamental change. Because if it rises in price during optionsX, it really, really, has to be a powerful "trend", right? Wrong, they will be next when TPTB run all their stops.
The price is manipulated and what price does over the short term is COMPLETELY irrelevant. If gold continues to ramp, or rises up in the $1700-$1750 range and stays there, then I was wrong. But if it stays under $1700, this is just a game and the ramp in price signals nothing.
Equity and metal markets may be starting to discount the demise of big government and perhaps even the end of financial oligarchy, and maybe a much-reduced corporate tax rate, and the beginning of the end of empty-headed, non-productive, bureaucratic obstruction of business. Out with the old, in with the new.
Nature abhors a vacuum tube.
That's been the case since 09. Probability of sovereign defaults have been discounted. But as the plot sickens once again there's plenty of more discounting to be done. Futures always overdo it on both the up and down sides. But physical hasn't lost any momentum. And it's clear why: there are no truly safe alternatives. Everything has risk attached to it because of the powerful undertow from excess money prinintg. Even US Treasuries carry risk, not of outright default, but the soft default associated with excess money printing and negative real rates. The Fed is very open about the fact that they will manipulate Treasuries AND print at their own discretion. They will not let risk be discounted in the market. This morning the 'go to' currencies for safety seekers, the Yen and Swissie are under fire from their own governments because they're overvalued relative to the dollar. So that leaves Gold as the only lifeboat in a stormy sea. Gold retains its buying power
Hey RoboTard....
Bump your head on the door jamb this mornining.?
Get ready to say 'Bye-Bye' to 1700
Well, Caviar, I see resistance at $1690 looking strong, so I have to stick to my original call that this is just a head fake. I see long traders getting thumped sometime this week. I hope you are right, but I just have this feeling that there's a little more kick left in this monster before it expires. I'm buying the next drop or I'm boo hooing on the platform watching the train pull away.
Either way, it's all good, my physical will keep me warm.
Good luck. Trading the paper short-term can be rough unless you're well-capitalized
Not Gold & Silver again!
Why do they keep going up? You can't eat the stuff?
Good luck eating paper too!
Ooooo I could crush a grape!
>Equity and metal markets may be starting to discount the demise of big government and perhaps even the end of financial oligarchy
But they haven't yet discounted JP Morgan. Otherwise silver would be through the roof.
So, now we have volatility. How long before CME bring in more stringent margin requirements?
Who said "tell me when it breaks 1700"? it just hit 1700.70, briefly.
CME 'Can't Manipulate Everthing' Try and shake me out of physical and oh look I just bought some more!
cmon silver, DADDY needs more $$ for the Chevy Nova.
It better be a Yenko.
well well... currencies sinking everywhere...we do have lifeboats.. do not panic..we have swiss ones and many made from metals... the swiss ones turned out to be dodgy and sunk like the other currencies...we control the prices of all the metal ones by pretending that nothing is sinking and there is no problem...
all we need to know .... is the seats on the lifeboats are limited... so grab grab grab
What no walking-dead Bernankenstein rigging the Gold market today?
No yellow-fanged zombie critter Count Bernaculer price fixing the Gold market?
Well the Fed is a private bank and rigging markets is totally criminal so maybe those half-an-eye, half-brained, lurching quaisimodo Regulators have finally (and i mean finally) arrested the crook for blatant in your fat face Gold market manipulation, price rigging and take downs illegal for all other market participents
...we can only dream this criminal rule-breaking anarchist monopoly monster is brought to heel with the warehouses of rules and regulations the pea brained quaisimodos have been sitting on and passing wind over for so long... the Fed is afterall a private bank with no public mandate (therefore no exclusions) for market rigging and price fixing in the Gold market (and Treasuries, the stock Indexes, MBS's, property, in fact you name it Public Enemy No.1, Swamp Monster Ben, is rigging it)