None of my physical metal is for sale at any price.

Gold has risen quickly recently and so if you were to say it is overbought, it is so on the recent price moves. There is no reason to suggest the long term trend for gold is dead.

Let's say someone invents a new power source which uses silver. Investors begin to go into silver upon the announcement, later the producers of this new power source make large orders and silver goes up and up. The technical peculators will say "Wow, look at this, bubble! It will crash to $10 again obviously, let's short it.". In reality, of-course, it seems a lot of uses for silver are constantly being found. Shame it's relatively rare.

Reading tea leaves from spoon-fed graphs do little to help you actually understand a market.

As I said, just hold onto your physical gold.

Priceless! Thanks for sharing.


DZZ does not lead the gold price, nor other leveraged instruments any longer. Physical does now.


100% accurate. A comparison of the 1980 gold rise to today from Gene Arensberg.


Volume alone does not dictate direction. This is an obvious transfer of wealth from new entrants and/or weak hands to interests recognizing gold as money. Like taking candy from a baby.

I'm starting to suspect that you are not yet capable of projecting out that far.

Buy the blood.

The gap by $1680 is the target for the shorts to breach. If the gap is filled before the end of the month, there will be a rally of unbelievable proportions. If it isn't filled this month, there will be a large run up before the hammer falls again to push it back down into the $1600s. This is no different from previous battles at much lower numbers. Same game, more players.

Metal holders must be enticed to sell in order to supply Venezuela-style delivery demands from the bullion banks. Venezuela is not the only entity requesting physical delivery. It's the equivalent of a bank run, only silent and behind the scenes. If the banks don't deliver in a timely fashion, the game is over and the price of gold immediately will rocket to tens of thousands.

I think the game will keep going for at least several more months, if not years. That doesn't mean gold will capitulate; it will simply continue its gradually-accelerating ascent to a multi-decade parabolic blow-off. These daily and weekly runs are nothing.

For the rest of this week, the battle will probably be contained between $1740 and $1880. Any intraday spikes are irrelevant to big money - the daily closing numbers are the minimum relevant values.

The short-sighted perspectives are raging across the newswires and people are believing them. It's astonishing.

Let me get this right:

Gold falls 8% from it's recent record high and all of a sudden, it's the end of gold? Meanwhile, the S&P plummeted almost 19% and that isn't even from a wild run up. The dollar continues to muddle around at record lows, showing no sign of genuine strength or an impending retracement and being down over 17% from it's 3-year high. Treasuries have hit a blistering 13% rally that looks exactly like the 25% rally at the end of 2008, whereupon almost that entire gain was puked back up over the course of the next six months.

Am I to believe that the rally in treasuries is sustainable, but gold isn't when treasuries are backed by supposed reserve of what... gold? Is the suggestion that the dollar is going to find the fuel for a 20%+ rally? And the equity markets are going to be left to languish when they're the most visible indicator of wealth in the country, even though it may be illusory?

Reason and practicality demand attention over desire and whimsy. One day does not make a trend, nor does one week for that matter.

This is great!  I was thinking of buying......but where's the bottom?

Does DZZ drive the price of gold? How many clever speculators have been waiting for gold to fall, especially with the price rising almost exactly to a 423.6% Fibonacci projection from the May 1st to 5th decline? If gold retests its $1900 high, how many of them will panic and sell DZZ? When has it ever been good to ride with the masses, much less try to catch a falling knife (DZZ)?

The tail does not wag the dog. Here today, smoke tomorrow. Just cash in while you can - I'd sell most of my short positions now. That's the voice of experience: you don't forget losing a one week, seven-figure profit in a matter of hours.

Gold dipped 5% today in a matter of hours, it it the start of the debated decline?

For now, the repo market twist look like the best option. You really need to read Alasdair Macleod's article on that.

As dollar velocity increases, its volatility will rise as well.

I know you're still skeptical of it resuming that role; why is it receiving safe haven flows, then?

There's no need to physically move the reserve bullion (just as dollar reserves are rarely ever 'move'); the existing system works insofar as gold is concerned (large-scale distributed storage with registered ownership of numbered bars). It's the leverage (and in turn the current custodianship) that's at issue. That built up during a fixed gold standard, but with gold freely floating via market exchange that rigidity is nullified, allowing it to form the basis for all currencies and goods exchangeable against it.

gold is here to stay.