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Did we miss a QE announcement? Gold takes off, up $20 in minutes to $1,571/oz. GLD +2.1%. The...

Did we miss a QE announcement? Gold takes off, up $20 in minutes to $1,571/oz. GLD +2.1%. The brutally beaten down gold miners fare even better, GDX +4.7%.
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Comments (8)
  • mikeurl
    , contributor
    Comments (437) | Send Message
     
    I'm a broken record. Let me do a quick check on real rates...

     

    Yep, still negative. In fact, even more negative now than at pretty much any time since the crisis started.

     

    Roger, gold has a green light for go.
    17 May 2012, 10:38 AM Reply Like
  • alsobirdman
    , contributor
    Comments (394) | Send Message
     
    Hope you are right, Mike. I loaded up on miners and TBT this week. Figure both have nowhere to go but up from here. I don't understand why people are buying t-bills with a negative yield when blue-chip dividend yielding stocks are on sale. Hell, yield on Barrick approached 3% this week. It may take a few months and it may not be a smooth ride, but the destination should be worth it.
    18 May 2012, 09:37 PM Reply Like
  • Neckermann
    , contributor
    Comments (21) | Send Message
     
    All those, who have lost faith during the down turn of gold and sold whatever they had, are going to regret it.
    The pendulum swings in the other direction again.
    Remember last year? When gold turned at $1,525.- oz.
    17 May 2012, 11:12 AM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    Gold is still red for the week. Let's see how this plays out before we celebrate, particularly in the case of GDX. GDX has popped repeatedly lately, only to fall right back down in late trading.
    17 May 2012, 11:25 AM Reply Like
  • shawncorrigan
    , contributor
    Comments (34) | Send Message
     
    the derivative gold will need to deleverage. that means a dump in spot price and an invisible physical price. the dollar will cease as the default currency which will send gold to new highs. silver more.
    who will address this in a substanative way?
    17 May 2012, 11:28 AM Reply Like
  • dieuwer
    , contributor
    Comments (2493) | Send Message
     
    Dear SA editors,
    No QE yet but you missed the severe backwardation in gold and silver.
    17 May 2012, 11:28 AM Reply Like
  • Denny_Chasteen
    , contributor
    Comments (700) | Send Message
     
    True that, brougham. The people who ran into dollars and US obligations for safety jumped out of the kettle into the fire. Soon they will all be running up hill with their asses on fire and their heads a catchin'. The are willing to cross a moat full of gators trying to get to a into a cave full of mountain lions.

     

    No fears however, the path to grandmas house is protected by a benevolent wolf named Ben and a good Sheppard named Barack. They are here now to protect us from those nasty capitalist pigs who got us into this stew to begin with. Honest, they are here to help us. Not eat us. Just lay down your gold and take some of their magic paper. Government money is like magic beans. See what it did for Jack? Fe Fi Fo Fum, I smell a collapse of the Euro sum.
    17 May 2012, 11:32 AM Reply Like
  • RAVEN
    , contributor
    Comments (53) | Send Message
     
    Junior minors...nice.
    17 May 2012, 11:37 AM Reply Like
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