Gold Soars As Trading Reopens, Hits $88 Away from $2000

Tyler Durden's picture

We may have been pessimistic with our assumption that gold would reach $2000 in under a week. At the rate it is going, it may get there tonight: upon reopening, gold immediately soared from just south of $1900, to a new all time higher of $1912 as pent up buying interest took out every offer in the market. This time around silver is not far behind and after many were staunchly pushing shorts around the $44 price, the metal also snapped above the $44 barrier. The only question we have is whether the CME will hike margins before or after gold touches $2000. Since the stop loss orders there are likely quite aggressive, we hope our Comex friends would push gold a little lower before it takes off for its next target 5-digit target. Incidentally, those who are long spam and short gold may want to consider unwinding that trade at this point.



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iDealMeat's picture

+1, for the obligatory pole position comment.

Transformer's picture

I'll vote for Hugo.  At 100:1, he is retiring 20,889 tons of paper gold.  'Course, it's not really that hard, cause the paper really doesn't weigh anything at all.... I mean... compared to the real stuff.

HungrySeagull's picture

Hugo will come out of his Chemo induced haze and realize what he has done when the ship's bill of lading indicates 20 tons of gold in crayola with gold flakes.


I wonder if the gold movement bumped the baltic dry any?

LawsofPhysics's picture

Sorry, I am going to have to give that one a negative score just on principle. Why would anyone even think of such a hideous thought?

mcguire's picture

by the same logic, i gave it a plus.

hedgeless_horseman's picture

Morgan Stanley borrowed $107.3 billion, the most of any bank, according to data compiled by Bloomberg News using information released in response to Freedom of Information Act requests, related court orders and an act of Congress.

hedgeless_horseman's picture

...and a kick-ass interactive Bloomberg graph, here, until Tyler gets a post up.

EDIT:  My bad.  I now see this has already been posted on the prior page.  I blame jet lag.

Dick Fitz's picture

Hey guys

Sorry to be such a N00b, but can anyone point me to a site that shows how much money was given to the banks, vs how much has been paid back?

Some idiots on another site are saying the banks have paid back all the trillions they "borrowed" and that the banks are now free of FED debt.

Thanks for the help- you guys rock!

erg's picture

Go check out Harvey Organ's latest entry. It shows the line-up for precious metals at Scotia's head office.


SamuelMaverick's picture

Thanks for that link, Harvey Organ is impressive, I just added his blog to my favorites.  Yet again another thing to thank Zerohedge for.

Narcolepzzzzzz's picture

Nomi Prins used to track it, but the last report was October 2010.

PulauHantu29's picture

Merkel needs at least 8 more tits for te EU leaders.

jomama's picture


Shirley Wilfahrt's picture

You should NSFW tag that cow....

HungrySeagull's picture

We had some young ones on my crew. We got rid of him because he spoke of liking much older women.


There should be plenty down at the Rock to break him in.


Some things are a crime ... a thought crime even.

DormRoom's picture

arrggh. can not unsee. what has been seen.

Smiley's picture


Ignorance is bliss's picture

You Bitches know you want some of that ;-)

Ahmeexnal's picture

that's worse than the goatse dude....unless...merkel IS the goatse dude!

Thomas's picture

Now we know why DSK had to get out of jail so desperately.

Hulk's picture

Not such a bad set...

ColonelCooper's picture

When I was a kid (10-15,16) , I used to work for a farmer whose wife bore an uncanny resemblance to Merkel.  Picked rock, cut/raked/baled hay, cut stacked firewood etc..  Every day I worked, I was fed dinner and supper.  One day, when I was 13 or so, at supper, the farmer caught me taking a bit too long of a look at his wife's chest.  He looked at me, winked and said quietly, "They're just like the starter button on a 53 Ford."

Her set ain't all bad.

Hulk's picture

LOL!  No Farmers daughter, I Take it?

HungrySeagull's picture


I ran milk route, Boss's daughter was there. All I could do to keep my wits about me on the job. I know if we carried through, I will not be here. I would still be on the farm throwing down supplies.

Waffen's picture

I had to give you a green arrow.  Boobs that sweet even when attached to a German Sow are worth taking a gander at.

slewie the pi-rat's picture

ya made me look, ya dirty [transvestite(?)] crook...

good for you!  i hardly ever fall for that!  trust me? 

SuperRay's picture

Merkel should rent those out - one silver coin to bury your face in those and go 'blubbbbbbbbbb'!

Hard Assets's picture

NICE !!!

How do you download a new avator ?

nmewn's picture

+ 1900 on the Kelly's Heroes reference.

Its a mother beautiful bridge...and it will be there. Woof woof woof...thats my other dog impression ;-)

The Shootist's picture

Nice! I just watched that last night on the military channel.
"I've got medals for you in the car."

nmewn's picture

Its a classic...its a what makes different people tick flick...and everyone comes out a winner, of sorts ;-)

"Did you lose my aerial photographs?"...LOL!!!

Flakmeister's picture

Make him a deal deal..... maybe he's Republican

nmewn's picture

Don Rickles was perfect...LOL!!!

The best part was when the SS captain's eyebrow raised up when he was told what he was guarding for the "fatherland".


There is something to be said for personal but mutual interests ;-)

Flakmeister's picture

Re: Mutual interest: Yes there is....

One of my favorite movies.... one problem, the amount of gold never jived with value assuming $35 / oz... similarly in The G,B & U, th number of bags never make sense, $200,000 would have be ~10,000 coins, each bag would have weighed ~100 lbs.. (there were 8 bags IIRC) 

nmewn's picture

Its a movie Flak.

Always with the negative waves. Always with the negative waves. Why can't you just be positive for once. Have a little faith baby ;-)

I think I need to buy a gun's picture

open market conditions starting friday at jackson hole....


physical only this weekend??????


Obama speeks monday..... gold revaluation for jobs....on "labor day"

tamboo's picture

kelly's heroes is another hollywood whitewash job.

"The Communists blew a bridge, and forced a German Gold convoy to detour through Oradour sur Glane. They ambushed, and destroyed, the entire unit of 120 Germans, but had a town 0f 642 witnesses. They executed all the men, and herded the women and children in a church, using a bomb. The entire village (photos) was destroyed. London ordered a bombing attack, after the ambush.'