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

Tyler Durden's picture


Submitted by Gold Core

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

Gold in USD terms is 2.4% higher and is higher against all currencies and trading at USD 1,760.40 , EUR 1,234.10 , GBP 1,075.70, CHF 1,306.80 per ounce and 132,719.00 JPY.  

Gold’s London AM fix was USD 1,770.00, EUR 1241.75, GBP 1080.98. Gold reached new record nominal highs at $1,780.10/oz and new nominal highs in euros and sterling also this morning.

Cross Currency Rates

Asian equities were mixed with sharp falls seen on the Hang Seng but the Nikkei recovered to only finish down 1.7% and the Chinese and Australian stock markets actually managed to rise on the day.

The FTSE, DAX and CAC are down 0.7%, 1.9% and 0.2% respectively but US futures are showing tentative gains.

There were further signs of stagflation in the UK as manufacturing unexpectedly fell in June and the trade gap widened. This is further evidence that the economic recovery is faltering in the UK and QE has not worked. 

US Major Debt Holders

U.S. Treasuries dropped, pushing 10-year note yields up from the lowest level since January 2009, on speculation the Federal Reserve may introduce new stimulus measures today to boost financial confidence.

More ‘stimulus’, QE3 or whatever new fangled acronym is dreamed up by desperate policymakers will of course be bullish for gold and silver. 


J.P. Morgan Chase & Co. (JPM) and Goldman Sachs Group (GS), raised their gold-price late yesterday.  

J.P. Morgan now sees gold prices at $2,500 a troy ounce by year-end, while Goldman expects gold at $1,730 in six months and $1,900 in 12 months.

This may be a sign that the current sharp rally may have reached its zenith as neither bank has a great track record regarding short term trading calls on commodity markets.

In the short term there is the risk of a correction as gold’s rise is now becoming front page (on front page of FT today) and headline news.

The fact that silver has fallen in recent days and remains below $40/oz and the fact that gold mining equities have also not risen may also be a warning signal.

Gold has risen from below $1,500/oz to nearly $1,800/oz in 5 weeks (since the start of July) and is up nearly 18% in dollar terms. 

Therefore, in conventional terms gold is most certainly overbought. 

However, we are not living in conventional or normal times and the ongoing global market crash and global currency debasement means that there is a chance that gold will go parabolic as it did in the 1970’s.

Investors would be prudent to continue to make the trend their friend and any pullback should be used to buy the dip.

Those wishing to take profits might do so after two days of lower prices or a weekly lower close. However, given the level or market, systemic and monetary risk, all investors are advised to maintain a core financial insurance precious metals holding.

Gold’s bull market looks very secure for the foreseeable future due to strong institutional demand (from astute hedge funds and central banks) and store of wealth demand from Asia.

As does silver’s due to increasing investment and safe haven demand and the continuing growth in industrial demand for the versatile precious metal.

Silver is trading at $38.14/oz, €26.73/oz and £23.29/oz. 

Platinum is trading at $1,722.00/oz, palladium at $732/oz and rhodium at $1,800/oz. 

(Wall Street Journal)
Gold Hits Another Record

(Financial Times)
Traders target $2,500 high for bullion

(Wall Street Journal)
JP Morgan analyst sees gold at $2,500 by year-end

(CBC News)
Gold may hit US$2,500 in 2011: JP Morgan

Britain, other eurozone countries face ratings cut: Jim Rogers

(The Telegraph)
European Central Bank must go nuclear to save Europe

(King World News)
If you think gold is flying now, wait for QE3, Turk tells King World News

Change You Don't Have to Believe In

(The Telegraph)
The Bull Case for Gold


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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.




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:

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

While I agree with the sentiment, why not go to 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


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


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: 

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


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


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 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?


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


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.

Tue, 08/09/2011 - 11:58 | 1542778 ironmace
ironmace's picture


Tue, 08/09/2011 - 08:29 | 1541964 youngman
youngman's picture

Its going to be another interesting day....T-Bill auction.....Bernanke misspeaks.....and BAC crisis......right now gold up and silver down..big in both directions...Munis got hit hard.....and Thursday will be another 400,000 plus unemployment day.....reatail sales will be cards up....more and more people on food stamps....its no longer a mark of shame..its a right.....why shouldn´t my government by my food...people ran to treasuries..but now they see that mabye they ran to I think they will slowly move to PM´s...

Tue, 08/09/2011 - 08:30 | 1541965 rfullem
rfullem's picture

boring - still. if you bought gold at $300/oz, Id be impressed.  What to buy? Asia debt and consumer shares and US export/tech companies.  have a nice day. 

Tue, 08/09/2011 - 09:27 | 1542161 ReactionToClose...
ReactionToClosedMinds's picture


Tue, 08/09/2011 - 10:16 | 1542334 Long-John-Silver
Long-John-Silver's picture

I got in at $700 and I'm still impressed.

Tue, 08/09/2011 - 13:21 | 1543049 smore
smore's picture

Bought my first Credit Suisse bar on eBay for $300.  Advertised as being having been won as a sales incentive at Microsoft.  Still have it.

Tue, 08/09/2011 - 08:31 | 1541975 gmak
gmak's picture

This article is not very useful. Gold may have peaked or it may go up. D-uh.

Tue, 08/09/2011 - 08:38 | 1541982 Rynak
Rynak's picture

Yeahyeah, we get it JPM.... pump'n dump.... buy now, so that we can dump you on the way up when QE3 gets announced, precisely to stem gold from going parabolic.

Bottom line: If things go according to what JPM wants, then what will happen is exactly the opposite of what they are "warning" about... at least in the shortterm.

Tue, 08/09/2011 - 08:39 | 1541994 johnnymustardseed
johnnymustardseed's picture

silvergoldsilver has a link to Blythe Master's website. I think she is fucking silver just to get even for the nasty messages people left on her blog. She will do what she wants when it comes to paper silver, but she can't get the physical. Here is her blog link  Tell her how happy she makes you

Tue, 08/09/2011 - 08:45 | 1542035 caerus
caerus's picture

lol...the comments crack me up

Tue, 08/09/2011 - 08:42 | 1542015 Stares straight...
Stares straight ahead's picture

Best to be nimble.  I have fired up my algo, moved my computer closer to the wall and shortened the cat 5 cable.

Tue, 08/09/2011 - 08:43 | 1542022 THE DORK OF CORK
THE DORK OF CORK's picture

Nah this is screaming freegold to me - oil down , silver down , dollars turning into synthetic greenbacks - Italy broke the camels back , Italy & Spain have 3 trillion of sov debt baby.

They need cash to continue with their payments system in a efficent manner.


Tue, 08/09/2011 - 08:45 | 1542026 GetZeeGold
GetZeeGold's picture


Which country are you from?.....USSR. musta just popped in from a time machine.

There is no USSR anymore.......but there is a USSA.



Different names.....same results.


Tue, 08/09/2011 - 08:58 | 1542071 machineh
machineh's picture

Victory in Afghanistan, comrade!

Tue, 08/09/2011 - 10:30 | 1542380 Long-John-Silver
Long-John-Silver's picture

Oh Shit! The Satellite States in the South just broke away again. It's 1861 all over again and our military is scattered all over the world.

Tue, 08/09/2011 - 08:46 | 1542034 GoldMeUp
GoldMeUp's picture

Can anyone spare me some gold?  Just a few coins please I don't have much money.

Tue, 08/09/2011 - 08:47 | 1542039 onarga74
onarga74's picture

The last 3 week move in gold is the top (1650-1750 area) No one is bearish on gold and obviously people regard it as a "safe" haven.  Everyone including sovereigns are in and on board.  This train to their chagrin is going backwards.  The high seen overnight won't be seen again for decades if then.

Tue, 08/09/2011 - 09:17 | 1542132 Smiddywesson
Smiddywesson's picture

Nice try.  Only the governments and central banks of the most powerful nations in the world know where this is going, and they are stacking gold.  Do you suppose they bought it because they know the value will go down?

Tue, 08/09/2011 - 09:47 | 1542228 onarga74
onarga74's picture

That presupposes that governments and central banks are good money managers.  It also reflects maximum pain. CNN just spent 10 minutes telling everyone that people are leaving the uncertainty of the stock market and fleeing to the safety of gold.

Look at a chart of gold from 1980 to early 2000's...sure was a need for safe havens then but gold wasnt it.  Explain to me why it is now. Just because? How do you know when you don't need it anymore?  The maximum amount of people and governments are in the metal now.  You just need more people and governments to buy after you did. Good luck. 

Tue, 08/09/2011 - 09:55 | 1542255 gratefultraveller
gratefultraveller's picture

lfmfao - "the maximum amount of people are in the metal now"

That meager 1% of the population equals maximum amount for you? What are you smoking, I want some of that!

Tue, 08/09/2011 - 13:27 | 1543071 smore
smore's picture

Couldn't have said that better!  Totally ignorant, Sarah!

Tue, 08/09/2011 - 10:36 | 1542397 Long-John-Silver
Long-John-Silver's picture

We are repeating the 1929 crash and depression. We have entered the second dip where no one trusts the governments money. This caused an attempted confiscation of Gold as it had become a direct currency competitor with the US Dollar at that time and it was losing. Repeating history is a bitch. Go now and read the history of the Great Depression and use it as a guide.

Tue, 08/09/2011 - 10:44 | 1542435 EscapeKey
EscapeKey's picture

Oh awesome, a new super-confident PM troll.

So troll, are you short gold, or are you just another do-as-I-say-not-as-I-do run of the mill troll?

"Why it is now" - that's just about the most commonly discussed topic, and if you don't know by now, there's hardly a point to debating you.

Tue, 08/09/2011 - 10:59 | 1542473 Temporalist
Temporalist's picture

Look halfwit people also forgot chicken soup was good for you because McDonalds came along.  Does that mean chicken soup isn't really good for you?

Your "rationale" for people needing to buy after you applies to EVERYTHING dumbass.  1980 the interest rate went over 20%.  That is nowhere near on the horizon anymore and even if it were I think it's too late as people realize the rating agencies, banks and financial institutions are as corrupt as the government and will spend and steal until there are no productive people remaining.

There are trillions in paper debts for sovereigns and large banks and they have not even started to buy gold yet just as the major funds haven't but a few.

And seriously!?!?!  CNN is your great indicator!?!?  Who the fuck even watches that garbage anymore?  You are behind the times, out of the loop, left in the dust, and you don't even know it.  You know what else happened in the last historic gold run up?  It went up 2400% from it's starting price.  In this case that is $256; you can do the math...there is something called a calculator now too.

People don't need luck they need to disregard troll asspuppets like you.

Tue, 08/09/2011 - 08:48 | 1542040 TradingJoe
TradingJoe's picture

ANY "strength" today will be SOLD SHARPLY, QE3 ain't coming just yet! Gold will move higher, Silver will catch up soon enough! Fact is though, FED won't move until JH! So plenty of time to back up the truck on what you please to have:))!

Tue, 08/09/2011 - 08:50 | 1542044 THE DORK OF CORK
THE DORK OF CORK's picture

Yee guys are too dollar centric - Gold is intregal to the Euro system - if the Euro dies Gold dies but it ain't dead yet.

Tue, 08/09/2011 - 13:33 | 1543092 smore
smore's picture

Gold may be integral to the Euro, but that in no way implies that the Euro is integral to Gold.  "if the Euro dies Gold dies"????  WTF are you smokin' today, Dork?  Is this some obscure celtic joke?

Tue, 08/09/2011 - 19:28 | 1544558 THE DORK OF CORK
THE DORK OF CORK's picture

The dollar reserve is back in business............................

Tue, 08/09/2011 - 08:52 | 1542049 Ganja Jane
Ganja Jane's picture

Junk button, please?

Tue, 08/09/2011 - 08:52 | 1542050 DavosSherman
DavosSherman's picture

and the dumbasses are probably shorting it.

Tue, 08/09/2011 - 08:58 | 1542070 choorles
choorles's picture

when fox news tells you to buy gold.. it is probably time to sell... and buy silver..

Tue, 08/09/2011 - 09:08 | 1542097 Dromen
Dromen's picture

Ok...can someone please explain somthing to me.  Here at work I only have one way to invest in hold and that is the Fidelity Gold Mining Fund FSAGX...problem is there seems to be a huge disconnect between the Fund and the price of Gold...this is very frustrating !!! 

Tue, 08/09/2011 - 09:08 | 1542098 Dromen
Dromen's picture

Ok...can someone please explain somthing to me.  Here at work I only have one way to invest in hold and that is the Fidelity Gold Mining Fund FSAGX...problem is there seems to be a huge disconnect between the Fund and the price of Gold...this is very frustrating !!! 

Tue, 08/09/2011 - 09:19 | 1542142 caerus
caerus's picture

the top holdings in the fund are mining companies...unfortunately the miners are going down with the rest of the market r now...also (the miners) do not always necessarily track the price of gold...they'll do ok later i expect...if you want gold/silver exposure the best way imo is to buy bullion with your extra cash...imo

Tue, 08/09/2011 - 09:45 | 1542220 Smiddywesson
Smiddywesson's picture

Yes and naked shorting is rife among the miners.  TPTB hate bullion and miners, but their ability to fix the price of the miners is much stronger than with bullion.

Tue, 08/09/2011 - 10:41 | 1542420 Long-John-Silver
Long-John-Silver's picture

Mines are subject to nationalization by the host government. Every mine in every country is vulnerable including the USA. The instant the government wants the mine for what has become it's only currency source your stock value goes to ZERO.  

Tue, 08/09/2011 - 09:10 | 1542111 scatterbrains
scatterbrains's picture

DZZ priced like an option that never expires... for those feeling a little bloated with their gold horde.


Tue, 08/09/2011 - 09:16 | 1542128 f16hoser
f16hoser's picture

Odd; they didn't mention Silver going parabolic......

Tue, 08/09/2011 - 09:19 | 1542144 ReactionToClose...
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methinks one of the 'dynamics' that is not getting sufficient 'press' in the West (Europe & No. America) is that Asia and So. America, but particularly Asia, is very concerned about inflation and store of value.  This too complicated, behavioral and possibly cultural (also imply historical ..... generation after generation have seen massive instability .... natioanlly, regionally, politically, economically, etc.).

As a demographically broad new global middle class emerges, which is natural enough, you have different patterns & ripple effects emerge .... beileve gold bid panic is part of this.



Would love to see some global bid proportion analysis ... am sure the "West' (here including Middle East) is still driver but have to believe 'Asia' starting to impact more & more


Tue, 08/09/2011 - 09:29 | 1542166 FranSix
FranSix's picture

Some of the forecasts for gold may be completely out to lunch, but others have been much more accurate.  I see the top-calling hasn't changed.

This forecast was published some time ago on

Its looking very much like $1880 is a very good guess.

Tue, 08/09/2011 - 09:48 | 1542232 Smiddywesson
Smiddywesson's picture

If one believes the rise in gold is being fueld by currency destruction, and one has no faith that currency destruction will be reversed, then one has no logical basis for calling a top in gold.  Gold will run right through $1880 because the USD and Euro cannot be saved. 

Tue, 08/09/2011 - 09:30 | 1542169 wombats
wombats's picture

But what is the spot price for tungston?

Tue, 08/09/2011 - 13:38 | 1543107 smore
smore's picture

Ten per ton.

Tue, 08/09/2011 - 09:38 | 1542200 JW n FL
JW n FL's picture



so what they are really saying is..


that the FED and JP Morgan are working together to create a Bubble so that they can create a Panic sale at a later date and force the price back down beyond where it naturally should be.. to obviously re-enforce the position of the dollar in the market place (Globally).


It is never what are they giving you.. it is what are they taking away.

Tue, 08/09/2011 - 09:49 | 1542236 JW n FL
JW n FL's picture

and as Stewie the Pirate mentioned on this posts twin.

no one is mentioning silver, no one is talking it up or down.. and the downward pressure is Very Real!

Gold $1740(ish)

Silver $37(ish)????

are we going for 60 to 1? 70 to 1?

I understand that by allowing Gold to rise that when the JP Morgue + The FED start pouring money down the Money Hole ( ) that the drop in Golds Price will be that much more.. thusly taking that much longer to equalize to its un-inflated, un-restrained price.

but silver has the full set of breaks on.. while Gold is ignored??

"O" now I get it!

Keep silver low! Gold looks parabolic!

it is the cheaper of the two to control plus manufacturing needs.

besides they already let silver go to $49(s) and held Gold down and that didnt work! better to try it this way.

These people who manage this with our Tax Dollars should get a real job.. and NO! this is not a real job and / or God's Work!

Tue, 08/09/2011 - 09:52 | 1542248 Smiddywesson
Smiddywesson's picture

that the FED and JP Morgan are working together to create a Bubble so that they can create a Panic sale at a later date and force the price back down beyond where it naturally should be.. to obviously re-enforce the position of the dollar in the market place

The problem with that argument is that the Fed and JP Morgan don't control everything.  The Fed is at the heart of the conspiracy to hold down gold prices while the central banks of the world buy, but they can't stop other central banks from cheating the conspiracy and buying more than their share.  If the Fed tried to create a bubble in gold and then crash it, the other central banks (like China) would rush in and gobble up bargains.  The ability to manipulte gold lower has reached diminishing returns.  It is not going to crash, period.

Tue, 08/09/2011 - 15:56 | 1543634 JW n FL
JW n FL's picture

it is in the best interests of any "Central Bank" that prints paper to hold the value of Gold Down.. at the risk of de-valuing their own "Fiat" by allowing any great rise in Gold Prices.

Hense, it is not what they are giving.. but what are they taking.

Tue, 08/09/2011 - 09:41 | 1542210 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

*****Top 5 Places "Not To Be" When The Crash Comes

""The dollar collapse will be the single largest event in human history. This will be the first event that will touch every single living person in the world. All human activity is controlled by money.....""

*****Why Speculators Should Sell Their Gold Now

""looking back five or 10 years from now, this is likely to be viewed as yet another investment mania. (Bear in mind that in 2005, investors made up 16% of the demand for gold. Today, it’s more than 40%....""

*****OT: Film Festival Short

The Creek...

Tue, 08/09/2011 - 10:12 | 1542311 Smiddywesson
Smiddywesson's picture

Arch Duke,

I read the Alexander Green article on why investors should sell their gold.  Aside from the fact that the advice would have been wrong when given, the arguments still are unconvincing.  This is not the 70s or the 80s.  The currency is being destroyed and we cannot ever honor our debts. 

The arguments about "printing" not creating inflation are half right and half wrong.  The "printed" money went to the banks with the intention to keep that money off the streets and just in equities, where inflation could be created that benefited the banks, and only the banks.  Unfortunately, it still seeped out into the commodities market where we clearly do have inflation.  More importantly, worldwide inflation was created which has had a dramatic effect overseas.  This process is driving the price of gold.

I found the argument that it was worthless to compare gold prices of the past in today's dollars perplexing.  This is the only worthwhile method of comparing todays dollars. 

The problem with calling a top, whether in today's dollars or some other method, is the yardstick which we are measuring gold prices, the USD, is shrinking.    There is no top for gold until there is a stable currency.

Tue, 08/09/2011 - 10:23 | 1542357 Smiddywesson
Smiddywesson's picture

good article on the 5 places not to live after the collapse.  Best observation:

To sum up, those areas that have lived highest on the hog in the dollar paradigm will most likely be the worst places to live when the dollar collapses.

Tue, 08/09/2011 - 09:49 | 1542238 Dr. Gonzo
Dr. Gonzo's picture

 ...or they are just closing their illegal naked short positions and switching their position to long and want everyone to think they are Nostradamus come December.

Tue, 08/09/2011 - 10:01 | 1542273 walküre
walküre's picture

Somehow this gold frenzy in 2011 reminds me of the oil frenzy in 2008.

Keep in mind that the upside in gold is by virtue of paper trades. Future contracts traded higher and higher until.. there is no buyer for the hot potatoe and the thing unwinds. We're a few weeks, maybe months away from that correction and JP may be right with their call although I find it surprising to see all these almost obscene calls for POG from the traditional banking mafia.

2 strategies for trading this depending on the severity of your outlook for the future;

1) The Absolute Armageddon Trade

Buy and hold physical gold, small units preferred that can be converted in fractions if need be. Have melting equipment on hand and scale. Buy land and start farming enough for yourselves and have some extra to barter including livestock. Have an exit strategy if things get real ugly, like a trailer you can take somewhere deep into the woods come Armageddon Day. Your farm won't last you when the poverty stricken innercity zombies come knocking on your door. Ah, keep fuel supply at hand of course. Diesel keeps longer than gasoline, remember. Start canning your own food. Toothpaste and lotions will be desireable when the factories shut down.

2) The Cooler Heads Will Prevail Trade

Buy and trade gold futures or etf equivalents. Keep the finger on the trigger when gold prices against all major currencies start correcting. New currency may come and there's no way to tell if your electronic paper stash will hold value or not. Have some fun in the market, buy some good old American quality stocks when they're on sale. Enjoy life, enjoy potentially dropping real estate prices in London due to the riots (which are a repeat also), start browsing websites for the real expensive shit which gets cheaper by the day as your paper gold holdings increase in nominal value.


Tue, 08/09/2011 - 10:31 | 1542382 Spitzer
Spitzer's picture

Keep in mind that it is the explosion of these paper gold investments that will expose the physical value of gold eventually.

A comex contract might print $200 but good luck buying any physical at that price. Ebay premiums to the moon

Tue, 08/09/2011 - 11:12 | 1542564 Temporalist
Temporalist's picture

You are so typical of people that don't understand gold.  Absolute armageddon...really?  So physical is only for the end of the world but at all other times paper is the answer.  You sound like a clueless trader that thinks they missed the boat and are top calling because it will make you feel better to be right and tell everyone "I told you so" but your kind has come and gone almost as many times as JP Morgue and GoldmanSucks have stolen from the poor and elderly.

Tue, 08/09/2011 - 14:07 | 1543229 smore
smore's picture

Utterly clueless.  Gold frenzy in 2011? Gold has gained around 22% every year for the last 10 years.  Please save your "strategies" for your high school buddies. "Potatoe"?  Quayle?

Tue, 08/09/2011 - 10:12 | 1542310 bulldung
bulldung's picture

Must mean they have their long Au in, still can't let Ag be priced by the market.

Tue, 08/09/2011 - 10:16 | 1542321 wrs
wrs's picture

 the fact that gold mining equities have also not risen may also be a warning signal


Really, the fact that miners are down 15% while gold is up 20% and it's been that way for weeks is a sign that gold is done going up?  Miners are going the opposite to gold because of the ratio trade.  The hedge funds that control the mining shares are destroying the market for the rest of the people that might want to trade miners because they don't want to buy gold directly.  This I believe is done on purpose and not just because they can.  It's expressly done to keep people out of the miners and keep gold to a market where the entities in it are ones that can be influenced by those who want to control things.

Tue, 08/09/2011 - 11:20 | 1542609 Temporalist
Temporalist's picture

Well you may be right but funds that are buying ETFs will not also go into mining shares too and especially not if they think the metals are in a bubble, overpriced and will decline.

Mining seems like a screaming buy for the past year and no movement even when the markets weren't collapsing.

I also think there is a more sinister reason for it like the metals funds are being punished for not playing along with the retarded children like Robo that chase garbage paper and instead want something with real fundamentals.

People are on the opposite side of the boat on this one so potentially buy now while there is fear before the greedy decide they've been wrong and tip the boat in a mad rush back to the other side.

Tue, 08/09/2011 - 10:50 | 1542466 Killuminati
Killuminati's picture

If your stupid enough to beleive them then your stupid enough to lose money.  Sure gold is going parabolic. But hasnt JPM been in the news for 'manipulating' Silver on the short side?



Tue, 08/09/2011 - 12:13 | 1542832 caerus
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bought some gll...couldnt help it...wheee!!!

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