Gold Takes Out 200DMA...The Other Way

Tyler Durden's picture

"Gold again proves it is not the safe haven many had hoped for, breaking the 200-day moving average, the first time since 2009 and signaling that prices may drop to US$1400/ounce." So begins a post by a "market strategist" from Roubini Global Economics as of less than a week ago. Well, since as the chart below shows gold just took out the 200-DMA, this time in the opposite direction upside, having proven the recent drop was nothing but a buying opportunity as was suggested by the non-Ph.D. community, we assume that using the author's logic, gold has proven that it is in fact a safe haven, and that since it is not going to $1400 it can only go to infinity.... Or is that us taking liberties with our lack of an economics Ph.D. a little too far?

Gold just took out the 200DMA (green dotted line).

Chart: Bloomberg

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@Watcher's picture

Like I said, Roubini is an idiot.

Mr Lennon Hendrix's picture

Economists don't understand money, banking, and finance, even though they have written the rules that govern them.  Funny how that worked out

navy62802's picture

BTW people ... banks are liquidating everything as fast as they can. Quick!@#! Sell your gold ... to me!!!

Buying at $500 an ounce. Takers feel free to hit me up.

Atomizer's picture

Beep, beep, beep. Back up you truck and load up.

tkinfo's picture

Gold tracks the Euro dollar nearly tick for tick, Zero better hope that the ED goes to 200...

CatoTheElder's picture

Hey, Nouriel, talk is cheap. Are you short gold? Or, are you just FOS?

Seriously, does anybody know whether he puts his money where his mouth is?

Mr Lennon Hendrix's picture

I don't think they understand the system.  If they did understand the way the system works, if they understood that it is built on lies and deceit, they would be liabilities.  TPTB do not want liabilites, they want dupes.

Most likely TPTB have found some deadringers of Keynes:  a bunch of dupes who have been promised riches and fame as long as they go by the book.  The dupes don't even question the system, they merely quote the lines they are told to remember, then they are paid and sent to the big parties.  Thespians, the lot of 'em.

passwordis's picture

 I've been, for some time now, getting this sickening feeling deep down in my stomach that we are all being played. 

 Many people believe that the main reason for the manipulation of the gold ( and to in extent silver) price is to prop up the dollar. I wonder if the real reason has more to do with allowing the owners of the world to buy up the majority of available metals in the anticipation of a gold standard.

 I think there is a good chance that America will eventually return to a gold standard.. It makes me very nervous when the main street media starts talking about it.  

 Are we being setup?  Think about it. They design a fiat system in order to steal real wealth and as the system nears it's end they start promoting a system to replace it that is completely dependent on commodity they have been buying up for 50 years.

  As the fiat system implodes, the calls for a gold system increase and the media, who wouldn't touch gold and silver a couple of years ago, is now actively promoting a gold standard. All of this pushes the price of gold through the roof.  Gold's at $10,000 and the Government must buy all of that gold from the banks and institutions who own most of the it. Once they sell all of their gold, the banks and institutions quickly spend all of the money buying buildings farmland, oil, food etc before the the gold backed dollar crashes.

 Gold goes to $100 an ounce.

 If you sold your gold at the top and did'nt spend it fast enough you have a huge pile of toilet paper. If you held on to your gold.. you are still left with virtually nothing.  The banks, Government and instituions now own 70% of everything on earth that's worth anything instead of 40%.

    Just a thought.


jomama's picture

of course we're being played.  the factor you've left out of the equation, however, is that the intrinsic value of gold will hold against all other prices.  gold's high of ~1,900$ is a far cry from 10,000$.  and if gold were 100$/oz, rest assured bread will not still be five bucks a loaf.  there simply isn't even enough to as close that much gold around. 

XenoFrog's picture

How does one crash a gold backed dollar? It's gold backed.

Yen Cross's picture

 XAU? Hell I want to see the " ponzi" uptake, on the last minute " ECB", submission called the " EURO Merry GO Round"...<

   I want a "ACRONYM" , for X-MAS. The Hell with Credit Cards!   They are soooo Paseee'. >>>> Spend on can kickers.

San Diego Gold Bug's picture

Some Christmas Cheer...Johnny Cash and Silver....Perfect!

Merry Christmas!  Johnny Cash/Silver

walküre's picture

Could also be that paper gold is being frontrun to offload a whack load of gold mining paper certs.

Yen Cross's picture

 Keep a close eye on paper. Japan " BoJ ,Mof, Kampo,", moving paper into Euro notes to devalue the yen.  Bonds & local /reginal Soverigns. I just shorted the "yen" , s/t.<

walküre's picture

I guess that's Harakiri for the Yen and throwing support behind the Euro. There's something about the Euro that makes me go hmmm.... No matter how hard Washington is trying to destroy the Euro, they are out of luck. China and Russia and now Japan throwing their support behind the Euro can only mean one thing. The days of the USD as reserve currency are numbered. Which is probably the reason behind this silly and expensive exercise in the Mideast. Also, the US calling on their ally the UK to try and cripple the Eurozone. The more things change, the more they stay the same.

Axis Nations my friend.. Axis against USD, Wall Street and Rothschilds.

Yen Cross's picture

 Load up on some eur/swissie. 1.2125. You are welcome.  Fuck the Roth/Gates/ A-tiil of the 'HUN' trade. Be carefull, the " liquidity is light".>

walküre's picture

liquidity or volume is virtually non-existent. try to offload any larger stock positions in this market.. good luck. banks control markets tighter than a you know what. why rally market up 3% today in Frankfurt? makes no sense! retail is not coming back - for good!

Yen Cross's picture

 Thanks for the news. Have fun in London. Banks, or the Interbank trade? real money or Leveraged $?


  Don't attempt to trade unless you do it " FULL TIME"!

terryfuckwit's picture

rock on tommy  lets put the phd cert's with the rest of the paper shite lol

Vlad's picture

This looks like a leg 4/5 in a down Elliot Wave. Could go to 1635-1638, then down.

Mr Lennon Hendrix's picture

[W]e assume that using the author's logic, gold has proven that it is in fact a safe haven.

Exactly.  Risk off.  Buy gold.

lolmao500's picture

Grab your ankles people :

U.S. Chief-of-Staff tells CNN U.S. preparing for attack on Iran (Ch. 10)

BlackVoid's picture

"Gold again proves it is not the safe haven many had hoped for"

Roubini proves again that he is not the authority he has hoped for.

Yen Cross's picture

 Watch, and mark the moves , during the light moves!   2016 , FUCK the M/E.

Yen Cross's picture

 If Otool wins the next election My Shot Gun comes out. if the >GOV thinks they can restrain the population? Idiots!

  Kaboom, if Otool wins the election. I'm going Gangster hunting!

tocointhephrase's picture

Gold is money and in a world drowning in debt I know where my bread is buttered! 

vegas's picture

Ph.D. = Piles of Hubris on Display

Hephasteus's picture

Doesn't look good people. Takes reall balls to play this game this deep in the choke pit.

All I gotta say is sucks to be settling bank. You're going to get fuckin bear stearned.

MFL8240's picture

The Arab has been wrong on every call except the odvious housing bubble that my poodle predicted right too.

bill1102inf's picture

and back below the 200dma like a surfer ripped off a board by a shark

michaelsmith_9's picture

This is only a temperary, end of year, push higher for Gold, equities, and commodities.  "Risk" to find support and continue higher.  Here is a look at the ES, DX, and TNX.

GFORCE's picture

The paper action is irrelevant, especially in this liquidity and funding crisis.

Gold is the ultimate safe haven and it doesn't need herd mentality to confirm that.

You shouldn't be a buyer of gold to seek short term gain in this schizophrenic market.

Buy it for when the risk on/risk off trade finally breaks.



UnderDeGun's picture

Corruption will not breathe stinky on my golden tricycle.

MIL123's picture



MIL123's picture



tkinfo's picture

That was a Hugh Short Squeeze, glad it is over...