GOLD UP $25 in 12 hours... What is something happening?

i can't say for sure just why gold & silver are shooting up all-of-a-sudden..instead of the slow accelleration
we have seen after 2009.

but here's two factors that are sort of important...

JP Morgan is reopening 2 gold storage vaults immediately, one in NY (or somewhere stateside)
and another vault storage facility in SE Asia (Singapore i believe)

a bunch of major gold miners have been approached to to do forward sales of gold to JPM & others


what's this all mean?


well, JPM (the covert branch of the Federal Reserve in Gold & PM price suppression)
can accept storage of gold bullion in Asia where buying has been going hog-wild for years now....
-->then secretly send the bullion over to the USA vaults to bamboozle the gold buyers here
that actual bullion exists in the ETFs and such...many many tonnes of gold bullion are on
paper/ and no delivery is being made/ much bullion is on loan or otherwise non-existant...
possibly i hear at a rate of 100 ozs of BS paper to 1 oz of actual physical bullion


next up... there are something like 300k contracts shorting gold out there, so theres a massive
ammount of money needed to cover those positions... billions just today.


it might be that the paper ETF gold ponzi scheme is ready to burst and buyers are paying top dollar
to save part of their asses...
also in academic terms... the fiat money system is seen as collapsing in a rapid way... instead of the long
drawn out affair the Frederal Reserve had planned since even before TARP era fraud & theivery


go to www.321gold.com
they have a list every day of stuff (articles) along this vein... catch up on the important stuff, if you can

Yiu can be sure that the gold is being bought mostly for the keeping by those under the umbrella of the FRB, using paper money that is produced by the FRB. It is just another way to keep governments indebted, hence you and me. In the meantime it will cleanup the deliberately induced "derivatives" by aquisition, and then a big sell off of real estate will add to the petty cash. Conspiracy? you can be sure. I like this link,

news.goldseek.com...

Gold's up, definitely. Silver is doing even better. Gold has increased by 4.85% this month.While silver has increased 13.35%. Plus there's less physical silver in the world than gold. There's more demand for silver (mainly industrial), silver should really take off.

It may be that someone may know something ahead of Fridays economic reports. I'm thinking that the jobs report for September will be weaker than expected along with some other key indicators.

if gold is so good,

why are all the governments selling in the form of coins?

doesn't that screw up their currency/gold ratios?

or is it they know already that gold may NOT be the next currency backer?

the world bank people must know something?

The rise continues fast. Gold hitting $1350. Dollar falling again.

CHICAGO (Dow Jones)--Speculation that the Federal Reserve will soon enact another round of monetary stimulus intensified Tuesday among traders of U.S. interest rate futures.

Expectations for quantitative easing -- likely to include the Fed's purchase of U.S. Treasurys -- were the likely catalyst for a couple of complex and very large trades Tuesday in short-term Eurodollar and long-term Treasury futures.

So-called QE2 has been the market's obsession since Sept. 22, when the Federal Open Market Committee said that inflation has been running below levels consistent with meeting its mandate for price stability.
Source
Speaking Tuesday to The Wall Street Journal, Chicago Federal Reserve President Charles Evans said unemployment "is just not coming down nearly as quickly as it should."

reply to post by maldronath


I think the jobs report will be stronger but they will be service jobs. Service jobs produce nothing. There will be a rise due to the upcoming holiday season but this will be illusory in a sense.

Gold touched $1365 a short while ago.

The dollar was 78.75 48 hours ago. It is now 77.38 mark. It really has been falling fast recently. The printing presses are warming up in the background, currency 'wars' starting. (I do not agree with the militarisation of the language.)

I have also noticed that Governments have started to ramp up their use of patronising language like:

We are all in this together.
We must all knuckle down and pull together.
Hard working families make this country great.
It is the workers that are the backbone of this great nation.

ALL PATRONISING BULL****. We are all in this together when WE HAVE TO PAY and bailout with tax money. We are not when the profits are shared. The bonuses and profits go to the people who run this corrupt system.

Yet the people still keep running on that wheel.

gold is only going through the roof now because everybody says it is going to...i guarantee if you listen to the radio you've heard it plenty of the times in commercials...but think about most every radio talk show you've listened to...they all push you towards buying gold...up taybe people with lots of money are pushing the prices up too, who knows

Originally posted by here4awhile
gold is only going through the roof now because everybody says it is going to...

I think it is more likely that gold is rising due to the devaluation of fiat currencies rather than everyone saying so. Check the last 10 years of charts.

Originally posted by here4awhile
i guarantee if you listen to the radio you've heard it plenty of the times in commercials...but think about most every radio talk show you've listened to...they all push you towards buying gold...up taybe people with lots of money are pushing the prices up too, who knows

Yes, because it is rising (in other words the fiats are falling due to inflation). There also many advertisements offering to BUY your old unwanted gold. We have even had door to door traiders buying gold. They are doing this for a reason.

Could it be that the Chinese are jamming gold up, in order to inflict some pain on the Anglo-American bullion banks shorting gold, such as JPMorgan and HSBC?

25 bucks in gold is 1.85%... it's not a massive move although anyone who knows the gold mkt at all knows that there are seldom if ever 2% and above moves... it gets capped... gold is not in a bubble, anyone who says it is is talking out of their bottom... no one owns gold because it's rare as hell... all the gold ever mined in the world fits into a 63ft cube... ever ever ever...

now, a lot of people own paper gold... but very few own physical... i have been an equity trader for 14 years at top houses and i only know one other person in the business who owns physical gold....

I wrote this note to clients a week or so ago....

"This is a clunky article but the subject matter is most important. It explains
why Gold as we see it on the screens in front of us IS in a BUBBLE and indeed
the PRICE can and probably will get SMASHED at some stage soon.

HOWEVER PHYSICAL GOLD itself CAN NEVER BE IN A BUBBLE and one should buy it now
when one can. The guy has a serious point. We are one of the most bullish
houses on Gold on the street and have been for a good 2 years now... yet apart
from myself and one other here and my bullion dealer, I know no one who
actually OWNS GOLD.

The CFTC themselves have admitted that there are c. 100 paper gold ounces to
every 1 physical gold ounce... and history is full of paper promises that never
got met, especially when it comes to gold. (think USD 1971).

So, yes, Gold is massively overvalued as you see it on the screen in front of
you and that's why one day there will be two prices for Gold... paper and
physical... please take the time to read this":

fofoa.blogspot.com...

According to Harvard University the real true figures of U.S. debt is, are you sitting down $200 Trillion dollars. At this rate we will never be able to pay off the debt. We have been lied to of what the real debt is a figure of somewhere around $14 Trillion dollars is being thrown around. If you want to know where things are headed watch as prices keep rising and the dollar keeps falling in value. ^Y^

Some strange (or not) things are going on. "Normally" 1 Dollar costs about 1.30 sFr. Since the mid of August (it was 1.06 then) the us dollar goes straight down to a all time low of 0.96sFr. per US-Dollar. You can take a look a the Graph from our Swiss View -> www.cash.ch...

Our export is nearly death because we had the shortest crisis worldwide. While the Gold price is exploding today here: -> www.cash.ch...

This damn system must collapse anyway, so I just wait and drink tee.

It's funny to me that people can still not see a bubble market. Even so called "financial experts" either don't see it or won't admit it.

Ask yourself these questions:

Do the rich want the dollar to fail?

Who do you think owns the most gold...the rich...or the non-rich (paper or physical gold...doesn't matter...the price is fixed to both of them)?

What happens to the dollar when the gold bubble bursts?



The rich don't want to be rich in gold...they want to be rich in money.

Well... the thing about gold is - it has NOT been smashed yet. The Dollar has been getting smashed for years and is getting smashed faster. Indeed, the dollar has been getting smashed so consistently that more and more countries are doing everything they can to reduce their exposure to it. Once solid US allies are distancing themselves completely from US economic and financial policies. The people who we rely upon to buy our debt - like China - are rethinking their relationship in that we want to pick a currency/trade war with them. The Chinese are lining up like crazy to buy gold and other precious metals.

More and more countries throughout the world are seriously considering adding/increasing Chinese and other currencies to their strategic reserve holdings - at the expense of the dollar. Chinese currency is considered undervalued, whereas the US Dollar's continued decline indicates it is overvalued.

The US is in for an extremely rude awakening and two years into this "situation" - if you haven't caught on yet, odds are you will probably continue. It's verging on the last call for alcohol where the US dollar is concerned - and someone just said they'd rather have beer than gold...

Bottom's up!

reply to post by dickbar


As much as I love FOFOA, and pass on his links and advice to anyone interested or concerned about where things are going, he is wrong on this point.

FOFOA fails to take into account the gold exchanges of some of the world's biggest gold producers, namely China and Australia. It is literally impossible for physical price to disconnect to such an extreme from spot price in RMB and AUD. It doesn't work that way, and never will.

Yes, COMEX has its problems, and gold priced in USD may cease to be the focus, but I can assure you producers of physical in Australia and China, which account for the lion's share of global gold production, will fully ignore any gyrations in COMEX spot should it dislocate from physical price to any obvious extreme.

reply to post by Pentothal


Its holding at 3,333.00 right now, thats only half evil right? wow, watch the forclosure scandal and see our inflation go sky rocketing on this new development.

According to your charts, if the market bombs like it should, and if the Christmas season is a disappointment, and if we are in a full-fledged and well-earned depression, we should pull back and wait until March of 2011 to start investing at the bottom of the trend?

I will go with that. Sounds like a decent plan. With elections and a cold winter and poor Christmas season on the horizon, I can easily believe we will see a 40-50% drop in the market. The market needs this, so we just have to be prepared and ready to ride out a very rocky few months, and then profit like the rich folks do.

Visit the survival forum. Stock up on staples of can goods and dried foods. Don't panic, pull your money to a safe haven like your mattress, lol! Then, spring into action when ATSers start to look optimistic.

I see a lot of references to Kitco Gold quotes on the board, so I thought it might be of value if prospective investors understood that the spot price as quoted by Kitco (a bullion dealer) represents the wholesale dealer price of Gold for immediate delivery, aka: the cash price. The wholesale dealer price tracks the Comex spot contract...a physically delivered contract. The Comex spot contract is also called the front month contract. The front month contract is the nearest unexpired futures contract....currently it's the November contract. This is the price you see reflected on Kitco at present (Nov Gold), and when you hear someone talk about "the physical market overpowering the paper shorts", they're usually referring to buying activity in the front month contract. After the NY floor session closes at 1:30pm ET...Comex futures, and the spot contract continue trading around the world via the CME's Globex electronic platform...this goes on all night until the Comex floor session resumes trading again at 7:50am ET.

You may have noticed a disparity between Kitco quotes, and Gold quoted daily on the CNBC ticker. That's because CNBC tracks the active futures contract...as opposed to the spot contract. The active futures contract is currently December Gold.

If you're java enabled, netdania offers a good real time quote-stream...at no charge.

Link