Gold Futures Touch $1801

[JJ.G0ldD0t]

http://www.zerohedge.com/news/gold-explodes-surges-new-record-over-1787




Gold Explodes, Futures Touch $1801

http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg (http://www.zerohedge.com/users/tyler-durden)
Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 08/10/2011 11:42 -0400



The traditional inedible religion of barbarians had been oddly patient for most of the day. No longer: next up $2000.


626
Update: +$13, 5 minutes alter.

627

[StreetsOfGold]

Amazing indeed and so fast. This was talked about for years on the original GIM and here, of course but now it's happening.
Even Marketwatch can't hide the facts. See attachment

[madfranks]

I thought gold was supposed to go parabolic at about this point... if so the rest of the week should be wild!

[ximmy]

Futures are dumb...

[Libertarian_Guard]

http://i53.tinypic.com/2usjrqu.jpg


Well, someone had to do it.

[Dogman]

So says the Alien at the beginning.


http://www.youtube.com/watch?v=Nv35OPKzCQw



http://www.youtube.com/watch?v=vQvl0pY8GkM

[MNeagle]

The future is now:

http://www.kitconet.com/images/sp_en_6.gif

[JJ.G0ldD0t]

Quick !! Post more rockets or I'll never be able to afford any more gold!

[Dogman]

http://www.kitco.com/images/live/gold.gif

[MAGNES]

Futures are dumb...

Have a look at this one. Something tells me that if SI runs up at $50,
that may signal a high in GC, following this since 2005/2006, never
seen new highs like this in summer season, never even going back further,
something is going on, in the past even gold positive news saw gold get
hammered down, it was a big joke on LeMetro and other sites, good
gold analysts.

2 DAY DIVERGENCE , GC new highs, SI hammered

http://i52.tinypic.com/30bzga9.gif

http://i54.tinypic.com/2yuyrzt.gif

[Serpo]

638

Must be a tea break.............

[mick silver]

magnes you follow stuff like this what are you seeing . what are the markets telling you ? i dont play in the stocks markets but i like learning what other are seeing . why are we not seeing the silver market moving more

[Libertarian_Guard]

Quick !! Post more rockets or I'll never be able to afford any more gold!



http://i53.tinypic.com/2qdr4gg.jpg

[1970 silver art]

http://i53.tinypic.com/2qdr4gg.jpg

COOL!!!!!!!! It's time for gold and silver to get smacked down and launching rockets is a great way to bring gold and silver down. Thanks for posting the rockets Libertarian. :)

[ximmy]

Institutional Investors Unload Gold Positions As It Strikes $1,800 Record High Admist Massive Wall Street Sell-Off

Gold hit a new all-time high of $1,800 per today and JP Morgan issued a $2,500 price target. But don’t be fooled, indicators show Gold is ripe for a downward price correction and the price target is for the retail investor — the common man — which Wall Street always bets against. In fact, institutional investors are dumping their gold investments and taking their profits now in exchange for the extremely cheap U.S. dollar.

http://blog.alexanderhiggins.com/2011/08/10/insitutional-investors-unload-gold-postitions-strikes-1800-record-high-admist-massiave-wall-street-selloff-53771/

[JohnQPublic]

Touch? Right now it is more like fondling!

[1970 silver art]

Touch? Right now it is more like fondling!

More like bust through the $1800 level. It looks like Gold is continuing its "fingering" of the $1800 level but it might be short-lived before it gets smacked down.

[Serpo]

London Trader - Many Gold Shorts Wiped Out, Lost Everything!




With gold hovering near Jim Sinclair’s resistance point at $1,764, a trader out of London told King World News today, “I fully expect to have $2 moves in silver and $50 moves in gold as absolutely normal at this point. If you don’t expect that, you are not going to understand what is going on, but don’t forget that we are in August and you normally have juniors manning the desks.



This is highly unusual and we do have very thin liquidity in the metals. So that’s one of the reasons you are seeing things move so quickly in both metals. You are talking about a one minute bar in gold being a ten dollar range.”



</frame>


London Trader continues:



“The physical buyers still have not been filled and they are getting nervous. The buyers in size have not been filled and they are underpinning this gold market. If gold pulls back the buyers will get some fills, if not they are going to have to start chasing this market. In fact, don’t be surprised to see a $100 move in gold if they lose patience.”



When asked about shorts who have been badly mauled he responded, “Well what’s happened with the shorts that were in there is they were absolutely crushed on that overnight rise on Monday. There were some margin calls on some serious players. There were some anguished faces on Monday.



These guys in London woke up with their asses handed to them and I don’t think some of these guys will ever be short again, if they are still in business. So some of these perennial shorts that have always joined in the party got screwed, I mean literally lost everything. For the ones that didn’t lose everything, they certainly lost an awful lot.



Gold just gapped up and didn’t come back and these guys were heavily short. I believe there is still enough momentum to push gold into the $1,800’s. We are moving into season now and things are happening in China that will impact the markets in due course. Because we have been seeing that point of capitulation, we have been witnessing some dramatic moves as the shorts have been mauled, and as I mentioned, in some cases to the point of ending careers.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/8/10_London_Trader_-_Many_Gold_Shorts_Wiped_Out%2C_Lost_Everything!.ht ml

[Dogman]

One more won't hurt!


http://www.youtube.com/watch?v=1PDAGcmUdTI

[Serpo]

641Now this is a rocket.....hehe

[MAGNES]

magnes you follow stuff like this what are you seeing . what are the markets telling you ? i dont play in the stocks markets but i like learning what other are seeing . why are we not seeing the silver market moving more

I don't follow stuff like I used to, I am not trading this, but looking for opportunity.

I was hoping for an opportunity to buy SI puts again, lol , but
the setup was not right and gold looked strong, a while ago I commented
on gold touching highs and going sideways, that is a very strong signal
positive, they don't want that, they normally knock it down, they didn't
do that and it was summer. Something is up beyond what we see in news.

The markets taking a dump was predicted a while ago for this time.
Hasn't taken gold down like other times though.

Traders would of used buy stops going long on gold, but in summer , LOL .
You got to be glued to your computer and know what you are doing
to do this, MN was doing this and posting good stuff off the wires.

There is a guaranteed winner trade you can do on right setup,
but we need a gold correction, like past years, 30 % minimum
drop in gold, where ever silver lands, buy calls going out to
seasonal highs of next year, april may june, etc , that has not
happened couple of last summers.

I save some key stuff I see, like that divergence, it stands out.
Same thing with the massive volumes we saw since SI broke
highs last fall, very weird, I have a thread on this, makes the
COT charts I was following closely moot almost, the volume
is bigger than their shorts many days. It's 2 guys trading it all
at GS and JPMC , lol . Don't be surprised.