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Would like to see the HUI break this H&S pattern and pass the 610 mark, we may then be able to have a run in Gold stocks:
Gold stocks the cheapest they've been since early 2009:
This parabolic stage is gonna be one hell of a ride. YEEEEE HAAAAWWWW !!!!!
I've been waiting for $100 swings for a few short years now. Let's do this shit.
Backwardation: Greek love making. Those who shorted gold are going to get backwardated.
I've heard it many times: You will not get rich on gold, it only stores value, but doesn't pay dividends, and doesn't make a profit. Plus, you can't eat it.
Well, the Precious is up 50% in one year. I don't think the dollar has depreciated 50% in that same time. But I'm no math genius. Oh, wait...I am.
Lucy, you have some 'splainin to do.
And like the USD IS, and DOES???.
Hopefully this will wake the big boys up, i.e., institutional investors, biillionairs, hedge funds, etc.... to the fact that if they want to move the market (and we know they do) then they should deal in physical!
in Amerikant, paper fucks you!
A university professor did a study where he left 10 students dispersed around New York City with the simple instruction of "find each other". Seemingly impossible?!
However, they all did. Because they all went to Grand Central Station - a historical focus point.
Gold is and will further replace US Treasuries as a focal point and everybody out of fear will rush to meet everyone else there.
"A rally lead by fear will be far stronger then one lead by greed" - James Dines
Good perspective.. thanks.
From the Ackerman piece:
“Grandma and Grandpa … they are on the other side of the Federal Government’s good fortune, unable to generate a livable retirement income on a million-dollar nest egg."
When grandma and grandpa figure this out, today’s prices will be cheap.
If they can't figure out how to live decently with a paid-off home, a mil, and SS checks, then Grandma and Grandpa should go buy some Medicare D-subsidized Viagra and fuck themselves repeatedly.
I hope that's not your plan on how to spend your weekend...
Paper cuts, FTW!
Vivek (My real name, in case anyone is wondering, Hello!)
Fight Club Rule # 2: Nobody uses real names at Fight Club.
Gold shares a buy on multiple fronts:
Blythe having fun this morning?
JPM:SILVER now negative for 18 days.
Suck on THAT, Blythe.
Which I believe is longer than when silver was on the way to 50 this spring.
DO NOT be a smartypants top-caller. Sit back and relax while the world burns.
"A correction remains a real possibility but buying and holding bullion remains the best strategy in today’s volatile markets."
Have you got my fire extinguisher, Turd? If so, keep it.
Exactly. The list of lifeboats remaining is becoming alarmingly short. The healthy currencies like the swissy don't want survivors swamping their currency, and the dollar is being debased. That leaves gold and silver, and though they can supress silver, they are buying gold. How do you hold down prices when everyone is swarming into the boat, including yourself? Central banks are buying, and now here comes the public!!!
I really have to laugh at the deflationist who said gold would tank along with everything else because debt default is inherently deflationary. They completely missed the fact that the world is awash in paper and there will be nowhere else to hide than PMs. It doesn't matter how much wealth destruction there is, there's still plenty to push up the gold market. Academic idiots.
You are a smarty pants chartist unnecessarily worrying investors about manipulated short term drops in the PM prices. Is there a difference?
charts and graphs for the day, month 6 month and year of commodities - shows who - Blythe must be sweating right now.
Intra-day highs for Gold of $1,878/oz and for Silver of $42.72/oz.
WOOHOO, SHORT SQUEEZE, SHORT SQUEEZE, SHORT SQUEEZE.
I don't think we will see that for a while yet. Continued central bank acquisition depends upon keeping gold and silver under control, and they have unlimited fiat. They will fight back, perhaps using up another two of their precious margin increases. That would be sweet, because next week we would be right back at the same price and they would have two less margin increases in their gun, and they know it.
One day we may see 1 grain ingots replace the $20 dollar bill which translates to $9600 per ounce. I don't watch ebay pricing very closely but it seems lately that 1 grain size transactions are becoming more popular to the common man... or so I'm thinking.
Do you get the feeling that La Cucaracha timed this for maximum impact?
"Stand and Deliver!"
Silver needs to go above 60$ to be back at reasonable levels and gold/silver ratio.
The Gold/Silver ratio should continue to correct in the onset of credit quality breakdown. The next correction level for the Gold/Silver ratio is very probably the 89-week EMA on the weekly chart. The technicals on the Gold/Silver ratio are that gold will continue to gain on silver in coming weeks.
Backwardation in Gold is not great for the price advance, because every backwardation in Oil prices, Copper prices, Silver prices have all preceded a correction. The more chronic the backwardation, the more meaningful the correction.
So far, the backwardation is only brief. The spead between spot and futures is not meaningful enough to coax out gold into the markets.
Ya thats b/c they raise margin 15 times in 4 days, thats why there are artificial corrections
The definition of a "correction" is rapidly changing in gold. It seems TPTB are rapidly becoming TPTW (the powers that were) in this market. I'm not saying there won't be any corrections. I'm just saying they will be sharp and brief, and won't help keep the prices from climbing.
I can see gold challenging the inflation adjusted 1980 high of $850 (~$2300/oz. U.S.)and then backing off to consolidate. The timing of this move is difficult to discern as gold has been appreciating during market down days in a very aggressive fashion.
Hopefully it will let off some steam in the meanwhile, but a crash will bring gold prices down. I presume the low should be in the $1500/oz. range.
The so-called "inflation adjusted" 1980 high of ~$2300 in gold is only adjusted for the fraudulent, manipulated and low-balled CPI figures. In reality, the TRUE inflation-adjusted 1980 price peak of gold would be more on the order of $3000 per ounce.
<Backwardation in Gold is not great for the price advance, because every backwardation in Oil prices, Copper prices, Silver prices have all preceded a correction. >
Sure it is, it means we get ANOTHER, yet another shot at BTD!.
160 times more paper silver than physical....
100 times more paper gold than physicla....
NOBODY WORRY!!! THERE'S PLENTY TO GO ARROUND!! NO NEED FOR A PHYSICAL RUN!!!
Its funny, I keep my paper gold and silver in the bathroom and my phys gold and silver buried in 4" PVC. Why is that?
You think vaccum sealer bags will do the trick? I used four layers. I worry about the winter though.
Gold doesn't tarnish and squirrels won't eat it. It's safe
I don't know about that........ seems like some of the gold stored in COMEX vaults is foil covered chocolate.
I hope they do it. And I hope it leads to other countries doing the same. The banks have multiple owners on each bar. That is the only way to have such a bloated paper market. Get in line for cash settlements Soveriegn Nations.
Many gold juniors traded in Canada are off 50-75% this year. Many with 43-101 rated 500,000-1,000,000 ounce deposits have a market cap of less than $15/oz with gold trading at $1,850. There has never been such a disconnect in the history of gold/junior gold stocks. Either gold will trade down to $500/oz, or we are on the cusp of one of the greatest bull markets of all time in the Canadian gold juniors that will make the internet stock craze look like child's play.
Let's say I don't regret conselling my girlfriend buying a considerable chunk of her retirement funds on ZJG (BMO Junior Gold). Don't look at it for 10 years babe, and then, thank me.
She's gonna want a Kardashian-sized engagement ring, y'know.
She's a low-maintenance-cost darling. A saver, not a spender. And she's disgusted by celebrity gossip. A keeper!
Hell, don't look at it for 10 months...
Can you please elaborate on what a junior miner/junior gold is? I am unfamiliar but interested
Seniors are the large miners; the ETF for them is GDX.
Intermediates are smaller; their ETF is GDXJ (misnamed "Juniors")
Juniors are smaller still; some are producers, some are explorers. Both can be found in the ETF GLDX.
I concur.... There are companies that are hideously cheap.
Unless they are hideously hedged?
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