gold 80 $ up!

[Guzabuza]

Well, since almost every pm (bull) analyst and investor have been calling bottoms for gold and silver for the past 6 months only to see both metal dip further down, i will step in and shout one last time (i hope), the bottom IS IN!

It must be because i bought today!

good luck to every bottom fisher, may your fishes...err riches be humongous!!!

 

[Seraphim]

I think margins will be raised again, SOON. Paper smash.

With that being said, physical buyers will more than make up for paper selling.

1 ounce of physical silver influences the spot price the way roughly 50 ounces of leveraged paper does.

 

[brandon]

I hope so. I tied up a bunch of money in SLV back when it was $33. I'd love to get that money out.

 

[Seraphim]

If SLV hits 35-40$, sell and buy physical. You won't regret that, I don't think.

I hope so. I tied up a bunch of money in SLV back when it was $33. I'd love to get that money out.

 

[Arklatex]

Can anyone remember a day such as this?

General Markets down over 2% - yet Gold and Gold Equities thru the roof.

What was the word for this... "decoupling"

I'd say it happened today!

 

[kill the banks]

I hope the crooks computer program is busted myself ...

 

[Indy Vidual]

Markets are funny.

Better buy now before it breaks $2,000, $2,500, $3,500, $5,000...

 

[Lafayette]

Can anyone remember a day such as this?

General Markets down over 2% - yet Gold and Gold Equities thru the roof.

What was the word for this... "decoupling"

I'd say it happened today!

We had weeks and weeks of that in 2008, gold was the same but the markets were down 3-8%. No doubt those days will return shortly.

 

[Lafayette]

If any of you read ZeroHedge you'll remember the deer....

http://www.zerohedge.com/news/deer-back

It seems high-yield credit was on to something as we noted last night (here and here). Today's matrix-like collapse in equity perceptions of decoupling and central bank largesse sets up for more of the same as we suspect the ECB will hold off from acting until post-Greek-election to ensure the M.A.D. 'game' remains in place and with rates where they are, Bernanke will have to come up with some magical wording for his next QE raison d'etre. Today's 2.5% drop in the S&P 500 back below its 200DMA, its largest single-day drop in seven months, and the accompanying flood into safe-havens has left Gold and Treasury Bonds now outperforming Stocks for the year (with the Dow red YTD). S&P 500 e-mini futures volume was it highest of the year as we sit at the edge of the waterfall level from last July/August's plunge. Gold's 4% gain is the biggest day since January 2009. Treasury yields plunged to new all-time record lows with 30Y showing a 2.50% handle and 10Y a 1.43% handle. All the high-beta hope names were crushed with financials down 3.7% - their largest fall in 7 months (with the majors even more). VIX jumped 2.6 vols to close above 26.5% at 7 month highs. What is perhaps most disconcerting is the total lack of bounce into the close now two days-in-a-row - deer, meet headlights.

 

[cubical]

Markets are funny.

Better buy now before it breaks $2,000, $2,500, $3,500, $5,000...

You think the people buying gold are the sheep? When I tell others I am buying gold, 90% of them think I am crazy. I like to go where the sheep aren't.

 

[PaulStandsTall]

Good to have a thread like this because any time gold goes down we definitely HEAR ABOUT IT.

GOLD UP NEARLY 4% TODAY

 

[Arklatex]

We had weeks and weeks of that in 2008, gold was the same but the markets were down 3-8%. No doubt those days will return shortly.

No man, I remember gold and gold equities dropping hand in hand with the market in 08-09.

Coming out of it Gold led the way.

 

[Domalais]

Mysterious silence while gold is down or flat.


Suddenly, bumped ancient threads and new threads when gold is up.

 

[Guzabuza]

"You think the people buying gold are the sheep? When I tell others I am buying gold, 90% of them think I am crazy. I like to go where the sheep aren't. "

Hehe so true. On my faculty i talked to at least 150 students, and probably 20-30 professors during my time there and i didn't find any student or professor that have, or is buying gold and silver. They all thought i was crazy for buying the metals. My mentor for my exam paper (fundamental analysis of the gold market) told me my paper was one of the best he ever read then 10 min later he asks me, - i still don't see the catalyst what would make me exchange my euros savings into gold. My jaw just dropped 5 feet down and i was simply speechless, considering the fact that i had exponential debt graphs for every damn western country in my paper.

What ever, since then, euro is down 10 % agaisnt USD and gold in euro is breaking out. When that professors, and he is a Ph.D, figures out why he should exchanging his euros to gold, then i will be selling my gold.

 

[Guzabuza]

Markets are funny.

Better buy now before it breaks $2,000, $2,500, $3,500, $5,000...

He is probably alluding to the people that are not buying gold, that is my take. Maybe i am interpreting hes sarcasm wrong and he is making fun of us ?

 

[Zippyjuan]

If it goes up another 18% ($280 an ounce higher) it could match its high from August 2011 of $1900.

 

[Guzabuza]

that would be very good!

 

[DEGuy]

I think two things happened the other day. The first is that poor news about the economy came out in the unemployment numbers, which tends to drive PM prices up (3 out of 5 times at least). The second, is that I suspect a big metal buyer decided it was a good time to buy some more physical metal. China has been doing this for years everytime the market price is low.

 

[Guzabuza]

it was me!

 

[flaversaver]

To the OP -

What did you buy exactly? GLD ETF? Mining stocks? Details please...

I'm curious as to what others are buying because I've been researching and there are a ton of choices. I'm looking at a mix of gold & silver plus mining stocks.