Gold Spikes Above Key Technical Level As USDJPY, Bitcoin Tumble

As European markets closed this morning, all bids disappeared from USDJPY and the pair dropped back below 114.00. In its mirror-like manner, gold reflected this tumble and surged above its 100-day moving average over $1280.


As USDJPY rolled over so Bitcoin hit an airppocket at the european close...

Remeber, Japan is currently the most active market for Bitcoin, so one wonders if this is some pre-saging of a general crackdown - despite all signals pointing the other way in Japan.

If you're looking for a catalyst, good luck. Fed'd Dudley was speaking but focused on regulation with no monetary policy comments. No new headlines from Asia/Trump. It seems the closing bell in Europe is all that is needed to panic-buy Yen.

Perhaps it's just a delayed reaction to the chaos in the middle-east this weekend?


IH8OBAMA Gap Admirer Mon, 11/06/2017 - 13:20 Permalink

I may have to stop bashing the Bitcon until I sell my little 1/4 coin that I found in my LBC account.  I'm going to sell it between $9k and $10k so keep pumping tmosley.BTW what's the safe way to turn it into dollars on LBC these days?  It used to be Paypal Cash codes but Paypal has shut all the that down because they hate the Bitcon. 

In reply to by Gap Admirer

IH8OBAMA tmosley Mon, 11/06/2017 - 14:31 Permalink

Why?  Because after paying for it and not thinking it would ever be worth anything more than $50 I ignored it?Or, because I think Bitcon is worthless and should never be anywhere near $10,000?Or, maybe because YOU falsely think that your pumping here on ZH is affecting the price of the Bitcon and I shouldn't gain from your hard work.  LOLMaybe I'll just keep it until it goes back down to $50 then sell it!  LMAO 

In reply to by tmosley

tmosley IH8OBAMA Mon, 11/06/2017 - 14:42 Permalink

>Or, because I think Bitcon is worthless and should never be anywhere near $10,000?This is why you don't deserve it. Nothing else.I don't set the price. The free market does. You should not benefit from that just as all communists should starve to death as a result of systemic theft and destruction of capital demanded by their ideology.Talking shit about bitcoin while owning it is blatant hypocrisy.

In reply to by IH8OBAMA

IH8OBAMA tmosley Mon, 11/06/2017 - 14:58 Permalink

First of all, by your logic, you shouldn't own any dollars since you bash the Dollar vs your Bitcon.  That would be hypocrocy and your shouldn't be buying stuff with your dollars!----But here's another problem I have with the Bitcon.  The Blockchain facilitates the trades but it seems the actual price is being set by the miners and a few large traders trading between themselves to manipulate price. Remember, this is an UNREGULATED market.  If this is indeed the case, as I suspect, then this whole price appreciation is one giant scam and will totally collapse when the public discovers this issue.The less people know about how Bitcon actually works, the longer the Bitcon scam can go on. 

In reply to by tmosley

Dsyno tmosley Mon, 11/06/2017 - 14:24 Permalink

I own Bitcoin, and several alt-coins. What I don't like is how annoying you are to most everyone.It's a breath of fresh air when we can all comment without having you interject your two-cents, which is invariably some angry tirade or grade-school insults.You need to sit back, take a fucking chill-pill, relax in the security of your growing riches, and stop being a dick.

In reply to by tmosley

tmosley IH8OBAMA Mon, 11/06/2017 - 14:46 Permalink

>we really, really enjoy yanking your chainYou can masturbate on your own time. You want me to be embarassed for making money? Ridiculous.>That and offering an opinion to balance your rediculously optomistic view of this bubbleOpinions are like assholes. Give me arguments or shut up. Your opinion is worth less than nothing.

In reply to by IH8OBAMA

HRClinton tmosley Mon, 11/06/2017 - 16:20 Permalink

Dear tmosley, I bought my BTC in 2013.Have also been mining other cryptos since then (LTC, FTC, Doge).Am I still above water?  Will I survive the next dip, fork or spork?  I know the End is Near. I'm scared and wondering if I should run for shelter, by going into... Silver.  Or should I buy farmland from  Soros's ex-partner, Jim Rogers, and build a nuke shelter?;-) 

In reply to by tmosley

tmosley Ben A Drill Mon, 11/06/2017 - 12:58 Permalink

Higher oil price==higher PM prices. Simple as that.Until thorium fission and fusion come online, that is.This Saudi consolidation of power won't last long though, and afterwards, oil will go back to where it was. Even if it doesn't, shale production will pick up and oil will be capped again.It just isn't a great bet any more.

In reply to by Ben A Drill

Cash2Riches Ben A Drill Mon, 11/06/2017 - 13:58 Permalink

Bitcoin has been sucking massive amounts of investment capital out of the precious metals markets for the past couple of years, so where do you think this money is going if there is a massive pull back, or cryptos become overbought? You guessed it, gold and and silver will rise again. Fiat is the real loser here.…

In reply to by Ben A Drill

LawsofPhysics Mon, 11/06/2017 - 12:30 Permalink

Sure... sure...Just a couple quick reminders; 1) Talking about the "price" of anything in the absence of a mechanism for true price discovery is a fool's errand!2) When fraud is the status quo, possession is the "law"."Full Faith and Credit"

Give Me Some Truth crakerman Mon, 11/06/2017 - 12:57 Permalink

Silver was knocked down 40 cents in two minutes Friday ($17.18 to $16.78). If a reason for this plunge was given by the "Reason Giver," it wasn't needed. By this point, we have all been conditioned to understand that such plunges "just happen."There is a cumulative psychological effect to all of these recurring cliff dives. That effect? Don't buy gold or silver. There is also a reason "sentiment" for gold and silver is at all-time lows. Apparently enough of these sudden price plunges - over enough years - and would-be investors start to notice.   

In reply to by crakerman