Gold just went up 33 bucks.

ttown · January 25, 2012 2:26AM

looking to break 1700, we'll see.

Banemorth · January 25, 2012 2:27AM

Already did once then came back a little.

Banemorth · January 25, 2012 2:27AM

1702 right now.

GRANDAM · January 25, 2012 2:31AM

WOW

when I checked an hour ago it was down $6 bucks

GO GOLD,,, GO GOLD,,, GO GOLD!!!!!

GrandAm

Overdate · January 25, 2012 2:36AM

Triggered by Fed statement.

roadrunner · January 25, 2012 2:42AM

Miners roaring! GRRRRRRRRRRRRRRRRRRRRRRRR

This is QE-like results without offering QE.

jmski52 · January 25, 2012 2:51AM

The Fed is out of bullets. And billets, too, probably.

Mesquite · January 25, 2012 2:55AM

But, easy does it.

DoubleEagle59 · January 25, 2012 2:58AM

Fed meeting 2013......

"We're out of bullets!!"

PerryHall · January 25, 2012 3:04AM

CaptHenway · January 25, 2012 3:05AM

!egnulpS

Barndog · January 25, 2012 3:05AM

the Fed (and federal government's) lack of bullets has not stopped it from action in the past. They'll dry fire something sloppy out there, just wait.

TWQG · January 25, 2012 3:25AM

The price of gold has paused as the babblemaster speaks. It takes a few minutes to de-convolute fed speak.

57loaded · January 25, 2012 3:45AM

OMG this must mean it will never have a losing day ever, ever again!

derryb · January 25, 2012 4:05AM

let's call a quick end to the first annual baleyville picker's contest.

roadrunner · January 25, 2012 4:06AM

<< OMG this must mean it will never have a losing day ever, ever again!

>>

Of course. But today's day is similar to what we saw last July/August/Sept. It's ok to give credit to a massively strong up day after such a long beating. Take a look at these charts.

Gold, silver, miners and bears....ah ha.

joefro · January 25, 2012 4:16AM

Yeah, market manipulation in action. Bernake opens his mouth and zoom! Look at those twin peaks!

Wingsrule · January 25, 2012 4:16AM

let's call a quick end to the first annual baleyville picker's contest.

Sounds good to me...but only if there is an additional prize for 2nd place

57loaded · January 25, 2012 4:27AM

RR yeah...you're right

what's funny is last time i saw spot was on CNBC 7 AM PST, up about $50 since then

CaptHenway · January 25, 2012 4:30AM

FWIW, spoke with my old shop this afternoon, and they have done a ton of business AFTER the Splurge!

Baley · January 25, 2012 4:37AM

of course! there's nothing better than some tradeable "news"

Almost everything on my screens today is GREEN

pf70collector · January 25, 2012 4:38AM

Another 3 years guaranteed for the banksters to loot the treasury, of course wall street is happy.

Baley · January 25, 2012 4:45AM

the posters on this board seem really happy too.

Aren't you happy?

PerryHall · January 25, 2012 4:55AM

<< FWIW, spoke with my old shop this afternoon, and they have done a ton of business AFTER the Splurge! >>

Were customers mostly buying or selling?

CaptHenway · January 25, 2012 4:59AM

<< 

<< FWIW, spoke with my old shop this afternoon, and they have done a ton of business AFTER the Splurge! >>

Were customers mostly buying or selling? >>

Buying.

ricko · January 25, 2012 5:04AM

Quite a reaction to the FedSpeak.... the question is, will it last?? Cheers, RickO

Timbuk3 · January 25, 2012 5:34AM

Up, up and away !!!

cladking · January 25, 2012 5:35AM

<< Triggered by Fed statement. >>

Ithinkit might be Obama's speech. If we start taxing rich people as much as poor people it will be inflationary since it willjust increase the amount they need to steal.

I think I won't use a smilie face this time.

CaptHenway · January 25, 2012 5:54AM

<< 

<< Triggered by Fed statement. >>

Ithinkit might be Obama's speech. If we start taxing rich people as much as poor people it will be inflationary since it willjust increase the amount they need to steal.

I think I won't use a smilie face this time. >>

Please do not inject politics into the boards.

Check the time of his address, the time of the Fed announcement, and the time of the spike in gold, then decide which caused the spike.

leothelyon · January 25, 2012 5:58AM

I can't believe y'all glued to the live chart.

By the way, when it comes time to sell, what's the window on pulling the triger? Inside 2 minutes?

pf70collector · January 25, 2012 5:59AM

Too late, the Fed is already political providing Congress with its endless spending through Fed Backed Treasuries.

57loaded · January 25, 2012 6:05AM

<< 

<< 

<< FWIW, spoke with my old shop this afternoon, and they have done a ton of business AFTER the Splurge! >>

Were customers mostly buying or selling? >>

Buying. >>

silver is up a higher % than gold?

are they buying both?

PerryHall · January 25, 2012 6:09AM

<< 

<< 

<< 

<< FWIW, spoke with my old shop this afternoon, and they have done a ton of business AFTER the Splurge! >>

Were customers mostly buying or selling? >>

Buying. >>

silver is up a higher % than gold?

are they buying both? >>

How high will it need to go before people are lined up to sell it?

edmundfitzgerald · January 25, 2012 6:23AM

How high will it have to go ?

Gold 10,000/oz

Silver 100/oz

Then you may see a little selling. But not much.

leothelyon · January 25, 2012 6:29AM

I'm selling at $52 and don't talk me out of it!

Baley · January 25, 2012 8:43AM

How high will it have to go ?

Gold 10,000/oz

Silver 100/oz

Then you may see a little selling. But not much.

Well, I'll respectfully disagree, as I see NO indication that strong resistance at $49 silver and $1920 gold has gone away.

I know I have some ounces for sale at 2% below those prices

leothelyon · January 25, 2012 11:45AM

So...what's the game here........buy low, sell high. Can a guy do that on every high and low point and make gains that way. Or is that not the way to do it with kitco?

derryb · January 25, 2012 11:54AM

<< So...what's the game here........buy low, sell high. Can a guy do that on every high and low point and make gains that way. Or is that not the way to do it with kitco? >>

Exactly how you do it with a kitco pool account. The only reason to have a paper account.

cladking · January 25, 2012 12:41PM

<< 
Please do not inject politics into the boards. >>

I should respond in a PM perhaps but just so there's no misunderstanding the statement was not intended politically.

The president of the United States proposed to tax the wealthy as much as the middle class. No matter what politics
you have this would affect wealthy people. I was only half joking that it might cause an increase in metals prices.

leothelyon · January 25, 2012 11:24PM

<< 

<< So...what's the game here........buy low, sell high. Can a guy do that on every high and low point and make gains that way. Or is that not the way to do it with kitco? >>

Exactly how you do it with a kitco pool account. The only reason to have a paper account. >>

Thank you and my only loss will be the 8.98 charge for every transaction?

RobertS · January 25, 2012 11:34PM

<< 

<< 

<< So...what's the game here........buy low, sell high. Can a guy do that on every high and low point and make gains that way. Or is that not the way to do it with kitco? >>

Exactly how you do it with a kitco pool account. The only reason to have a paper account. >>

Thank you and my only loss will be the 8.98 charge for every transaction? >>

Keep in mind that if Kitco goes belly up you loose everything...

derryb · January 25, 2012 11:45PM

<< 

<< 

<< So...what's the game here........buy low, sell high. Can a guy do that on every high and low point and make gains that way. Or is that not the way to do it with kitco? >>

Exactly how you do it with a kitco pool account. The only reason to have a paper account. >>

Thank you and my only loss will be the 8.98 charge for every transaction? >>

Kitco pool account fees are based on spread between buy price and sell price. No flat fee for trades like a brokerage account.

Staircoins · January 26, 2012 12:28AM

Great, just great. And with me trying to find both Au and Ag locally this week.

Who wants to sell me some AGEs or Buffs at last week's prices?

57loaded · January 26, 2012 2:11AM

i'm still a little confused that many if not all (over the web) were anticipating a flat to modest gold year are all of a sudden on another tear to $2000+

didn't the Fed made an announcement last year the they were keeping rates low at least another two years? why does yesterday's mention spark a renewed fever? is it just currency hedge funds playing $USD weakness again and then sell back out when the dollar shows some life?

i know from reading RR's post that mining stocks were on a tear...why now and not before?

gold shares were underperforming with a solid suggestion from him that the growth in ETF's has hurt gold shares. what has changed now?

i read some of Sinclair's email blast and get most of it...again why now?

Justacommeman · January 26, 2012 2:19AM

<< i'm still a little confused that many if not all (over the web) were anticipating a flat to modest gold year are all of a sudden on another tear to $2000+

didn't the Fed made an announcement last year the they were keeping rates low at least another two years? why does yesterday's mention spark a renewed fever? is it just currency hedge funds playing $USD weakness again and then sell back out when the dollar shows some life?

i know from reading RR's post that mining stocks were on a tear...why now and not before?

gold shares were underperforming with a solid suggestion from him that the growth in ETF's has hurt gold shares. what has changed now?

i read some of Sinclair's email blast and get most of it...again why now? >>

Easy money until at least late 2014. That probably actually means longer. Being said and being insinuated are a little different. There is plenty of chatter on QE3 as well. I think they were actually telegraphing this yesterday. It will be denied for now until it isn't. MJ

pf70collector · January 26, 2012 2:22AM

Exactly. All that free money from the Fed given to the banks either goes into stocks, treasuries or PMs for 3 years and counting, inflating the bubbles even more til they pop. When the DOW hits 14K will it pop like it did in 08 or continue soaring. Are we any better off with $3-4 trillion added to the debt since 08. What about the $16 Trillion 16 Trillion Scrow down to page 131 the fed managed to hand out also since 08. Ask yourself what are the consequences of such actions.

But as mentioned above, a one-time limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act covered an even broader time period and revealed even more bailout loans.

According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....

Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion

This report was made available to all the members of Congress, but most of them have been totally silent about it. One of the only members of Congress that has said something has been U.S. Senator Bernie Sanders.

Source

Baley · January 26, 2012 2:30AM

Consequences? Gold goes up! Yay, right?

57loaded · January 26, 2012 4:40AM

thanks JM and pf70 collector

leothelyon · January 26, 2012 6:51AM

<< 

<< 

<< 

<< So...what's the game here........buy low, sell high. Can a guy do that on every high and low point and make gains that way. Or is that not the way to do it with kitco? >>

Exactly how you do it with a kitco pool account. The only reason to have a paper account. >>

Thank you and my only loss will be the 8.98 charge for every transaction? >>

Keep in mind that if Kitco goes belly up you loose everything... >>

And when was the last time that ever happen? 1929?

Justacommeman · January 26, 2012 6:56AM

<< 

<< 

<< 

<< 

<< So...what's the game here........buy low, sell high. Can a guy do that on every high and low point and make gains that way. Or is that not the way to do it with kitco? >>

Exactly how you do it with a kitco pool account. The only reason to have a paper account. >>

Thank you and my only loss will be the 8.98 charge for every transaction? >>

Keep in mind that if Kitco goes belly up you loose everything... >>

And when was the last time that ever happen? 1929? >>

MF Global was A LOT bigger then Kitco. They are no more. circa 2011. MJ

roadrunner · January 26, 2012 7:33AM

<< 

Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion

>>

According to one source I feel is reliable this $16 TRILL counts loans that were repaid and then taken out again and again....say on a revolving monthly loan.
If that's the case the $16 TRILL may be leveraged up a bit from reality.

Gold just went up 33 bucks.

Comments

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection