JP Morgan Warns Gold to Go Parabolic and Rise to $2,500 By Year End

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Tue, 08/09/2011 - 08:18 | 1541923 66Sexy
66Sexy's picture

Meanwhile, there is no Platinum physical bullion available. Go on, check Apmex. They aint sellin'.

Tue, 08/09/2011 - 08:25 | 1541941 tarsubil
tarsubil's picture

I just hope they don't pull that with gold if gold corrects on more magical news.

Tue, 08/09/2011 - 08:28 | 1541959 caerus
caerus's picture

gc margin reqs are still low...plenty of room to hike sometime

Tue, 08/09/2011 - 08:44 | 1542029 ratso
ratso's picture

Tyler makes many great points over time.  This is not one of them.  The market conditions for gold in 1979/80 versus now are completely different. Gold has de facto achieved currency standing by the way central banks have been buying. Silver on the other hand is not treated as a currency.  It is being treated like a commodity by the markets and therefore being priced accordingly.  Silver bulls have been wrong and not understood the difference sufficiently.  Platinum which 20 times rarer than gold is also just a commodity.

Gold will remain volatile but the direction is unmistakeable.  When Saudi Arabis sold its gold holdings to Libya at the bottom some years ago that was the buy signal because they are pretty much always wrong.

 

Tue, 08/09/2011 - 09:32 | 1542177 Motley Fool
Motley Fool's picture

Would you please provide a source for that last paragraph. Thank you.

Tue, 08/09/2011 - 10:54 | 1542484 ManufacturedOpinion
ManufacturedOpinion's picture

The source is the internet - check it out.

And, BTW ... had to buy some puts on gld today, thanks to JPM hawking it (and it's spectacular run recently).  Just consider it a hedge against all that phys.

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The only thing the USA manufactures these days is YOUR OPINION !!!

Tue, 08/09/2011 - 11:17 | 1542593 RockyRacoon
RockyRacoon's picture

Opinion?  We all know what that is since everybody has one -- or several.

But they are still base on "facts" as presented.

A good reading list always helps.

Got gold?   Here are some reads from Ed Steer today:

 

1] Gold Coins Sell Out in Lisbon as Biggest Bet Sees 22% Gain, Bloomberg

2] South Korea buys gold for first time in 13 years, WSJ

3] Putin calls U.S. 'a parasite' on world, denounces dollar dominance, Reuters

4] Paul proposes bill to cancel $1.6 trillion in U.S. debt to Federal Reserve, The Hill

5] Emerging world buys $10 billion in gold as West wobbles, Reuters

6] The Real Banking Crisis: Eric Sprott, Sprott Asset Management

7] After buying most of it, China gets mad at U.S. for issuing so much debt, Bloomberg

8] Short-Term Yields Going Negative at Bank of New York, Zero Hedge

9] Hoarding gold beats charts over 25 years: Technical Analysis, Bloomberg

10] As many as 20 owners for each bullion bank gold bar: Jim Rickards, KWN

11] Jim Sinclair is interviewed by GoldMoney's James Turk, GATA

12] Silver is 'investment of the next decade,' Sprott says in GoldMoney interview, GATA

13] MineWeb's Lawrence Williams reports on GATA's London conference, GATA

14] US Can Pay Any Debt It Has Because It Can Print Money To Pay It: Greenspan

15] U.S. could run off with other nations' gold, Rickards tells CNBC

16] Ron Paul Slams Obama's "Monstrous Creature," the Super Congress

17] Eurogeddon postponed again as ECB gains three weeks, The Telegraph

18] Walker's World: The Unseen Punch, UPI

19] Debt Crises and Market Turmoil: Is The World Going Bankrupt? Der Spiegel

20] The world runs out of options, Ambrose Evans-Pritchard, The Telegraph

21] The bull case for gold, The Telegraph

22] You'll Be Buying Gold at $2,000/oz - And Higher, Casey Research

23] Fed May Announce QE3 Now Creating Gold Explosion: James Turk, KWN

24] Gold & Markets Signal More "Great Recession" - Richard Russell, KWN

25] Doug Casey Interview, King World News

26] Jim Rickards Interview: All About Gold, King World News

27] JPMorgan analyst sees gold at $2,500 by year-end, WSJ/GATA

Tue, 08/09/2011 - 13:03 | 1542952 smore
smore's picture

"Gold has de facto achieved currency standing by the way central banks have been buying. Silver on the other hand is not treated as a currency.  It is being treated like a commodity by the markets and therefore being priced accordingly. "

I had to laugh when I read this!  You have put your finger EXACTLY on why silver has far more upside than gold.  Silver is not treated as a currency YET!  But when paper currencies really crash, it will be, and the catch up in value will be unprecedented in financial history.

The direction of silver is also UNMISTAKEABLE.  Try looking at a 10 year chart sometime.  Sheesh.

 

Tue, 08/09/2011 - 08:27 | 1541957 Race Car Driver
Race Car Driver's picture

Apmex this, Apmex that - like they're the end all/be all of PMs... fuck Apmex. Their prices are outrageous and their webpage is annoying.

Here's some platinum: http://www.providentmetals.com/bullion/plat/us-plat/ape.html

Tue, 10/18/2011 - 11:29 | 1785374 Balmyone
Balmyone's picture

While I agree with the sentiment, why not go to http://gainesvillecoins.com for even better prices.

Provident also has a crappy BBB rating.  I've heard some horror stories about them. 

Tue, 08/09/2011 - 08:37 | 1541986 papaswamp
papaswamp's picture

Yea but silver is looking juicy....

Tue, 08/09/2011 - 09:43 | 1542217 vitoox
vitoox's picture

Sooo, Max Keiser helped to pump and dump silver with SLA.

Why do we read JPM 'prophecy' 2,5k/oz for a second day in a row here on ZH?

Tue, 08/09/2011 - 08:58 | 1542072 Boston
Boston's picture

Platinum available at Tulving and Provident.  I bought some from Pt eagles Provident yesterday; no problems.

Tue, 08/09/2011 - 08:22 | 1541933 Cdad
Cdad's picture

Yes...sell gold today.

Most importantly, sell the VIX by picking up XIV.  This will probably be the best performer today...although I would not hold it very long.

Tue, 08/09/2011 - 11:02 | 1542521 Dismal Scientist
Dismal Scientist's picture

+1

Tue, 08/09/2011 - 08:22 | 1541934 Gmpx
Gmpx's picture

I have personal experience with using gold during my country collapse. Gold does save its value - this is true. But its does not work for normal people.

It is dangerous to keep or to move.

You cannot profitably exchange it for food or goods during the crisis.

You need to wait until the end of the crisis when gold market reopens (say 10 years), then you can extract its value into new money (if you are still alive).

Tue, 08/09/2011 - 08:27 | 1541954 eigenvalue
eigenvalue's picture

Which country are you from?

Tue, 08/09/2011 - 08:39 | 1541992 Gmpx
Gmpx's picture

USSR.

Imagine you sit in one of the looted London surburbs. You have 1 kg of gold in your safe box. Police is elsewhere. The fire started by those youths comes closer and closer to your appartment.

Tue, 08/09/2011 - 08:56 | 1542064 machineh
machineh's picture

I see your point. One needs a fireproof safe.

Tue, 08/09/2011 - 08:57 | 1542067 Bicycle Repairman
Bicycle Repairman's picture

Please, tell us more about the USSR experience.

Tue, 08/09/2011 - 09:20 | 1542143 Gmpx
Gmpx's picture

I am happy to tell more. Unlike Dmitry Orlov I was in
Russia during all the funny times and I was in small
business dealing with real situations.
If Zerohedge asks me, I can write several small articles
about my experience with Russian business. They will
be helpful for you guys.

Tue, 08/09/2011 - 09:33 | 1542179 e_goldstein
e_goldstein's picture

If Tyler isn't interested, you may want to get in touch with this guy:
http://www.survivalblog.com/ 

Tue, 08/09/2011 - 09:22 | 1542110 DosZap
DosZap's picture

Gmpx,@08:39

They are not attacking residents, take your Gold in a sack,etc, and move away from the fire.

The UK has no serious records of crime against the populace, it's raging against the Machine.(albeit they also suck when it comes to self defense issues)

Change the scenario to USA, I take my PM's, and an AR15,5-8mags 28rds each, and a Glock 20, and ten mags w/15rds.

 

 To quote an American Icon,

Feel lucky punk, well do Ya?.........Go ahead make my Day. Choose to live in fear your a victim, chose to be prepared, they lose.

Tue, 08/09/2011 - 09:22 | 1542152 Gmpx
Gmpx's picture

Glock will not help if they take your child and nicely
ask for your gold.

Tue, 08/09/2011 - 09:36 | 1542194 trav7777
trav7777's picture

I guess we are made of stronger stock than those wankers; we can carry 1kg.

You stuff it in a backpack, and don your 7.62, filling the sack up with some extra magazines.  Pistol up on your hip, etc.

Tue, 08/09/2011 - 08:30 | 1541966 the not so migh...
the not so mighty maximiza's picture

great insight

Tue, 08/09/2011 - 08:31 | 1541973 living on the edge
living on the edge's picture

GMPX

Great post! Your perspective fits with my expectations of things to come.

Tue, 08/09/2011 - 08:39 | 1541991 centerline
centerline's picture

Yup.  Lots of people starting to get into the camp that things can and will get very ugly at some point.  Preparation for what might come is not just gold and silver.

Tue, 08/09/2011 - 08:58 | 1542068 Bicycle Repairman
Bicycle Repairman's picture

You'll need a plan.

Tue, 08/09/2011 - 08:38 | 1541990 papaswamp
papaswamp's picture

Disagree...it is quite good for large purchases such as property, livestock, vehicles and large quantities of fuel.

Tue, 08/09/2011 - 08:41 | 1542006 Gmpx
Gmpx's picture

... or to offer it to the gang which is knocking on your dorr.
You know what was better than any gold? Good brain,
good health, good friends. And above all - luck.

Tue, 08/09/2011 - 08:43 | 1542019 Pinktip
Pinktip's picture

Being a gold owner,  I have already told fellow gold/silver bugs

that in the SHTF scenario (madmax).  I will not sell my livestock for gold.

Tue, 08/09/2011 - 09:10 | 1542109 Pladizow
Pladizow's picture

You will not have to sell your livestock, they will be taken from you!

And dont come back with some response like I have a big gun.

Tue, 08/09/2011 - 13:52 | 1543159 Sgt.Sausage
Sgt.Sausage's picture

==> dont come back with some response like I have a big gun

Ahhhh, but I do.

And a literal army of corn-fed, cow raising, red-neck Billy-Bob-Bubba-Joe neighbors who collect guns like baseball cards, who can outshoot any trained sniper, who hang out in the fields and woods for weeks on end, more than half of whom have done 8 years or more of military service, a large chunk of those who have done recent (multiple) combat tours in the SandBox and who would just love to have the opportunity to have at it with a few rustlers confiscating livestock. I've got 8 years prior service myself. Instructor. US Army Infanty School, TRADOC (US Army Training and Doctrine Command). I dare you to come to my neighborhood and help yourself to a sampling of the local livestock. Are you up to the task in my neighborhood?

Your attitude is in need of adjustment. Come out to farm/cattle country some time and stay a while. Your eyes will be opened. It's a different world. Really.

Tue, 08/09/2011 - 08:42 | 1542016 Esso
Esso's picture

Correct, the value of PMs lies in the ability to transfer wealth through a crisis, not buying your way out of it.

Gold and silver are the last things you should buy after making all of your other preparations.

Tue, 08/09/2011 - 13:56 | 1543182 Sgt.Sausage
Sgt.Sausage's picture

==> Correct, the value of PMs lies in the ability to transfer wealth through a crisis, not buying your way out of it.

Correction: History shows us, as just one example, that quite a few folks of the Jewish persuasion used their personal stashes of gold to do just that: to "buy their way out" of the country (whatever Nazi occupied country they happened to be in at the time), and start over somewhere else. These folks left any and all other possessions and preparations (other than what they could carry) - they left it all behind.

Sometimes, getting the fuck outta Dodge is the best option, and sometimes "buying your way out" is the simplest way to do it.

Tue, 08/09/2011 - 09:08 | 1542093 Smiddywesson
Smiddywesson's picture

True, nobody will be able to exchange your gold for value during the crisis at anywhere near its true value.

True, crime will be rife, both within the government and on the street

Pretty much can't argue with that.

I bought silver to add to my hoard last week for that reason.  Gold for the long run!!!

Tue, 08/09/2011 - 12:58 | 1542945 trav7777
trav7777's picture

what DID work for normal people?

In the USSR, it was dollars, right?

Tue, 08/09/2011 - 08:23 | 1541938 caerus
caerus's picture

au overbought short term imo waiting for pullback to buy more

Tue, 08/09/2011 - 08:24 | 1541940 Catullus
Catullus's picture

I guess Gold is going to be the leading indicator today. 

Tue, 08/09/2011 - 08:26 | 1541948 eigenvalue
eigenvalue's picture

Silver is extremely weak. It's down 3% while gold is up 1.5%.:(

Tue, 08/09/2011 - 08:42 | 1542011 Buckaroo Banzai
Buckaroo Banzai's picture

Actually silver is holding up relatively well, compared to the beating it took in the 2008 crash.

Tue, 08/09/2011 - 09:28 | 1542165 tmosley
tmosley's picture

Exactly.  In 2008 there was still faith in the currency.  Not much left now.

Tue, 08/09/2011 - 08:46 | 1542036 Esso
Esso's picture

Yeah, weak. It's only double where it was a year ago.

Tue, 08/09/2011 - 09:25 | 1542158 vitoox
vitoox's picture

Remember S L A ?

Tue, 08/09/2011 - 08:27 | 1541953 Ganja Jane
Ganja Jane's picture

The volume on paper has gone apeshit. Why isn't anyone discussing it?  It's in he millions peaking at 20 M or so.

Tue, 08/09/2011 - 08:28 | 1541956 Buckaroo Banzai
Buckaroo Banzai's picture

Sell gold, and buy...what?

SELL GOLD AND BUY WHAT???

Tue, 08/09/2011 - 08:32 | 1541977 tarsubil
tarsubil's picture

Silver?

Tue, 08/09/2011 - 08:50 | 1542046 Ganja Jane
Ganja Jane's picture

There were some turdites talking about doing this over in Turd Furgeson's neck of the woods. I don't know if anyone actually did it. They were speculating silver having a better return long run. BTFD.

Tue, 08/09/2011 - 10:15 | 1542319 Long-John-Silver
Long-John-Silver's picture

Not so long ago people were talking about selling their Gold to buy Silver because Gold was stuck.

Now Silver is stuck and people are talking about selling Silver to buy Gold. Just bide your time as Gold will settle down and Silver will take wing and fly

again. That or both go parabolic due to a currency crash and then it will not matter which you have.

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