Posted on 12/01/2014 7:05:44 AM PST by blam
Tyler Durden
12/01/2014
After last night's big flush across commodities, they have rallied notably. Gold is now up over $50 from those lows, with Silver, copper, and even crude bouncing hard (after testing below $64 overnight). The USD is notably weaker, stocks lower, and bond yields testing mid-October flash-crash Bullard lows...
(snip)
(Excerpt) Read more at zerohedge.com ...
LOLOLOLOL!!!
Do share! Why the lols?
Short squeeze in oil. Won’t last. Gold to $1k before eoy.
:)
Very often when gold goes down, you see the telltale signs of a massive rapid price drop which is the sign of a Fed naked short. Yesterday, the Feds did it again after the Swiss referendum as you can see on the graph.
Please elaborate and explain grumpygresh. My head is spinning here and you say that you can see a “Fed naked short” in the chart! I expected for Gold to go down after the Swiss referendum rejecting a defacto gold standard, but I am amazed and mystified at the turbo recovery.
I am pointing to the very rapid drop over a very short period of time in the gold price yesterday. Only a large sovereign (or proxy of sovereign, central banks) would be capable.
The Fed wants to keep the gold price down to preserve the dollar reserve status and curb inflation as long as possible.
As far as gold going up today, it could be the COMEX December contracts being forfilled with physical gold at an ever shrinking percentage. People with gold contracts are being paid in dollars when the contract matures instead of gold. Perhaps China and Russia are using proxies with their excess dollars to purchase contracts on the COMEX. Over time, the COMEX is becoming a paper market backed by nothing really. There is way too much of their shell game with leased gold; the real stuff is just not there.
Meanwhile, the commodity markets that actually delivery the commodity when contracts expire will supersede the fake paper markets....eventually.
Because the very people who promote and sell gold for a living are always trying to convince the fools to buy even more gold despite the fact that gold has significantly underperformed the major stock market indexes over time.
Goldbug ping.
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