Charts
Is this the bottom for spot gold and silver? Is 1800 the floor in gold? Is DGP worth a small position here? Maybe a small scale-in ... but there are too many wolves out there and nobody needs to be a sheep right now.
Blogs
Le Fly: This is NOT as easy as it looks (Sept 7)
"I am now +80% overnight on my TNA calls. I am not selling until the PPT registers OVERBOUGHT. ... If you want to become a pro in this business, you need to control your fucking emotions. The most important aspect of investing is knowing your talent."
Turd Ferguson: WARNING (updated) (Sept 7)
"In an attempt to mitigate the 'negative' effect on francs priced in gold, the SNB sold a massive amount of gold futures at the same time. ... Maximize the downward impact and collateral damage by executing the attack at a time of minimal liquidity. This all wreaks of malicious manipulation."
Chart Swiss Francs: 700,000 ounces dumped on the Globex while London and New York are closed
(Update) "If you believe as I do that this current beatdown in gold is being engineered by the SNB, then why would you think they would rest before pushing gold all the way back down ... to somewhere between 1700 and 1750? It may take until tomorrow or Friday but confidence is high that gold is headed there."
Zero Hedge: Gold Flash (Sept 7)
"Was it a European bank selling more gold to fund itself? Hedge fund liquidation? Hillebrand needing some funding?"
Institutional Investor: Market conditions make Appaloosa's David Tepper cautious(Sept 7)
"Sources say he has gone 30 percent to 40 percent in cash, which is very high for him. Some of his cash is invested in U.S. Treasuries, which have in turn risen in value in recent weeks."
Le Fly: The bubble in non-risk is popping (Sept 7)
"At the open, I doubled down on my TBT position, with cause. It appears the power elite are dismantling the 'risk off' trades, namely Swiss Francs, gold, silver and very soon Treasuries."
Le Fly: Enter the meat-grinder (Sept 7)
"We're due to bounce hard off oversold levels. I am anticipating a 200-500 point move higher from here. ... What if the FHFA lawsuit is a way to threaten the banks, in order to make them open the spigots? Perhaps the government is using a little leverage in their efforts to get those fuckers to start lending again."
Sy Nejem: War (Sept 7)
"Within the past week, the Swiss National Bank dismissed the possibility of interventions to manage the Swiss Franc and then did a complete about-face on that stance. These are efforts undertaken during the latter stages of a battle, when one side starts gaining an obvious edge."George Maniere: Why silver may currently be one of the best long-term investments (Sept 7)
"Silver has put in seven confirmed bottoms along the trend line. Once it breaks this resistance level ($44) it will have the $50 level of resistance to break through."
Jeff Nielson: 'Unsinkable' gold (Aug 29)
"Gold is the only asset class capable of outperforming other asset classes in either an 'inflationary' or 'solvency' crisis ... the only asset class capable of protecting us from these simultaneous economic calamities."Vlogs
Keiser Report: Fake Assets (Sept 6)
> Artist Alex Schaefer ("Chase Burning")
Audio
Goldseek: James Turk (Sept 6)
Blog commentary
Shelby (GoldWeTrust.up-with.com): WARNING: Massive crash in gold & silver coming in November (Aug 29)
"So what is happening now in 2011, is the same as 2007-2008. The mad movement up of silver and gold is exactly the same as what happened after the SPY peaked in 2007. ... it will end up the same as 2008 because big money cannot buy gold, the only liquid market in the world is the US Treasury market, and 'bug heads' are going to get another lesson in this."
"Oct 24-Nov 4 2011, (S&P 500) will gyrate around the 200 wma for up to 2 weeks, then crash. There is no limit to how far it can crash, as it could bottom anywhere between 666 and 950."
"After Oct 7, 2011, gold will rise for 2 weeks to about $1850 while the S&P 500 is crashing down to its 200 wma to 1030. On Oct 24, gold will start its worst crash to go down below the 50 wma within about 2 weeks. ... gold will go down to $1370."
Reports
MarketWatch: Feds say Bank of America worse than Countrywide (Sept 7)
AP: Stocks surge after Germany upholds bailout plan (Sept 7)
AP: Stocks surge after Germany upholds bailout plan (Sept 7)
CNBC: Gold may top $6,000, silver $600: Asset manager (Sept 5)
Minyanville: Silver, silver stocks forming bullish cup and handle pattern (Sept 6)
Wikileaks: US embassy cable - 09BEIJING1134 (Sept 3)
"China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB."
Video
Metal bling
Quality Silver Bullion: September Discount Code (Sept 2)
eBay: US Treasury silver bar (95.83 oz) sells for $3,127 - $36.43/oz (Sept 3)
Private Collection: Chinese Silver Dragon Beads (Jan 20 2010)
Private Collection: Chinese Silver Dragon Beads (Jan 20 2010)
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