Gold punched through $1700 rather easily on the EBC news. However it isn’t rallying on this news as much as it could have. I think the ADP payroll data cooled off the rally. Tomorrow’s August jobs numbers are huge. This will really confirm or delay the QE3 announcement. Really needs to hold $1700, a come back to $1706 would be great. I don’t like to see spikes to $1715 and then a pull back below $1700.

Al, there is something wrong with your mike again, only left channel working.

the early am spike and drop back was pre nyse –so its light volume so all bets are off IMO for either direction

it’s all short term noise anyway as most of us know,

I wouldn’t call the ECB announcing unlimited bond buying short term noise IMHO.
Regarding direction – looks to me like the direction is clearly up. $1800 is the key level.

intermediate and long term direction is up-short term esp daily is news event and MOPE driven

$3500 Gold $150 Silver

mp3 download cut off early. No Rog speaking at all.

JD,
At least that, i agree, IMO…however, a little concerned about gold confiscation as we approach the levels ‘where the canary in the coal mine” is at death’s door. Silver, I am not worried at all. gold just MIGHT be another matter.
Marc

As alot of people know one way to “fix” things is to revalue gold, today Mr. Russel kwn is talking about it, Mr. Moriarity has said gold will not be teir 1, I have been reading some others that are agreeing with him.
Does anybody know if gold MUST be teir 1 to revalue?

days become weeks, weeks turn into months, months become years. its all one long continous stream. you cannot call what is playing about before our eyes the daily noise, if so when do you tune in? You will never see $1620 again.

So with your gold confiscation assumption Marc, silver might be a great option anyway?

I’m thinking the US gov’t could easily fudge the numbers and make things look rosy, just to send pm’s down until the qe announcement -or non announcement.

Al…..you know we have turned in the gold market,,,,when BILL GROSS, PIMCO, says gold is better than bonds….(see Sinclair today)

Silverbugs and all, The market really hasn’t tested Silver’s price for scrap sales, Gold has gone through it’s baptism but Silver which had a parabolic break out to $50 and then corrected to under $30 could keep this metal rangebound. When will we get that point where householders start to dump scrap and compared to gold there is a truckload sitting in the wings. At $40 an ounce granny’s tea service looks mighty inviting.

Domocrats vote against God!!!!!!!!!!
http://www.youtube.com/watch?v=aZJvcjni8-U

Interesting when watching the atheistic proceeding are many but here are a couple intersting tid bits:
1) The amendment was introduced to motion by Former Gov. of Ohio Ted Strickland who was Co-chair of the Platform Committee. Therefore if anyone was responsible for God being omitted from the platform it was he. Methodist ordained monister or not!
2) It is obvious the voice vote by decibel revealed the motion for God was voted down.
Think of that next time a Democrat canvasser knocks on your door.
3) The yet to be identified ruling chairman was clearly confused. The voice vote result was inconsistent with his tele-prompter telling him “In the opinion of the chair thevote was in the affirmative.”
4) So there you have it. God is voted against. Jerusalem is slighted. And the result is lied about for clear politics. Only at the Democratic National Convention where it is most likely you cannot tell the electorate who you really are because you need the majority of people to vote for you with your hidden amoral baggage!
OTRAGEOUS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

please define thr term MOPE. ty

more old people everyday?

I fell asleep during Clinton’s speech (not apologizing either) but one thing I agreed with whole heartedly was the bit about democracy doesn’t need to be a blood sport. How he can’t bring himself to hate those on the other side; he named a few R’s whom he admires. Wish I had access to that segment so I could show what I mean.

In my mind, his speech could have been given to gold bugs. People on this site are pretty civil, but on some other blogs they’re not happy unless they are name calling, smearing, and belittling some perceived “enemy”.

Life’s too short; maybe we make a few bucks, maybe we don’t; everyone has the right to play however they want. Leave the hate to the losers.

/rant

Wereany ice cubes left in the tumbler when you woke up?

Well, how about that!

Kudlow just now played the short segment from Clinton’s speech that I was referring to.

FOOD AND WATER , might be a better investment than gold…, in lieu of gas…raise some corn, and make ethonal,and subsitute it for gas…..who needs a job, be a farmer, better yet , be an Amish farmer, they do not pay ssi tax,

Just want to make a political observation……there is an alternate political party emerging and its not the tea party. This party is effecting our choices and behavior in a very dictatorial manner where there is practically no rebuttal……that party is called the MATH PARTY!

Oh, no worries Jerry/Marc, I do have some phys gold as well, but I’m almost 60% of everything I own in silver now. I have a long time horizon and am willing to take a flyer on what I think is a relatively safe bet at these prices. It’s not all about dollar price appreciation, but I am certain that silver has a bigger multiple upside than gold, notwithstanding all the other variables. And… I don’t even care that it doesn’t produce a dividend.

BRAD………60%………WOW……….You’r my type of guy. Most of my savings are in silver bullion, some think i am crazy, but i believe in the metal…..i’m in for the long haul.

Haha, well to be fair, not incl real estate it’s 60% + silver, 15% gold, 3% crude, 5% gold stocks and 13% stocks and bonds….. It’s A LOT of conviction. Probably classifies me as a goldbug. Cramer would take one look at the weightings of my portfolio and crap in his pants. The upside multiples on the miners like PEM are hard to ignore IMHO. Let’s see who else has these kind of kahonies, eh Marc/Irish… 🙂 Maybe we’re all a little crazy… right up until we sell after a parabolic move tho. I just don’t see upside, or risk/benefit to the other stuff.