Gold is beginning to make a move!

[EE_]

http://www.kitco.com/market/

Between Greece, Texas depository and China news, we might have a nice run over the next 6 months. Could this be 'it'?

China Challenges Gold Price-Setting Regime; Confirms Launch Of Yuan-Denominated Fix
http://www.zerohedge.com/news/2015-06-27/china-challenges-gold-price-setting-regime-confirms-launch-yuan-denominated-fix

Dow Futures Open Down 300 Points, 10Y Yield Tumbles 20bps As EURUSD Plunges Over 200 Pips
http://www.zerohedge.com/news/2015-06-28/sp-futures-open-down-40-points-eurusd-plunges-over-200-pips

Ignoring Tsipras Plea For Calm, Greeks Storm ATMs, Stores, Gas Stations
Submitted by Tyler Durden on 06/28/2015 17:02 -0400

Just a few hours ago Greek PM Tsipras addressed his nation imploring then to "remain calm" and reassuring them that their "deposits were safe." It appears the Greeks did not believe him. Many were wondering where the Greek bank lines were for the past several months. Turns out the local depositors were merely waiting until just after the last minute to withdraw their funds... horde gas... and stack food. Greece, it appears is Venezuela - the new socialist paradise.
http://www.zerohedge.com/news/2015-06-28/ignoring-tsipras-plea-calm-greeks-storm-atms-stores-gas-stations

Watch how quick the China real estate investing dries up in the US if they have a crash.

A Helpless China Tips Its Hand: A Market Crash "Poses Great Danger To Social Stability"
Submitted by Tyler Durden on 06/28/2015 18:04 -0400

BOE Central Banks China Greece Kyle Bass Kyle Bass Market Crash Nomura Paul Tudor Jones

While Greece has understandably been the focal news event over the weekend - after all it has been 5 years in the making - let's not forget that in another massive move, one geared squarely to prevent a market collapse and to avoid even further panic, the Chinese central bank cut both its policy rate and the reserve rate in a dramatic push to calm down markets after a 10% crash in just two trading days.

Which, incidentally, shows that after the Fed, the BOE, the SNB, the BOJ and the ECB, the PBOC is the latest bank to have cornered itself in a world where it must inflate the bubble at all costs or face the dire consequences. What consequences? Nomura explains:

The policy easing should be viewed as a measure to contain the risk of a hard landing or systemic crisis rather than one to achieve faster growth. In this case, the stronger-than-expected monetary easing may help stem the decline in the equity market following a 10.6% drop over the past two trading days. The positive wealth effect of the equity market on consumption or aggregate demand is limited in China, but an equity market collapse would hurt millions of mid-class households and pose great danger to the economy and social stability.
And there you have it: just like all other central banks, the opportunity cost to markets returning to fair value is nothing short of social conflict (as admirably displayed with every passing day in the US) and even, perhaps, civil war.

Which means that unlike before, when the bursting of the bubble would merely lead to a few high flying 1%-ers literally flying from the top floor having lost everything, this time the gamble could not have been higher, and when the central banks finally lose control the outcome will be nothing short of war... just as Paul Tudor Jones, Kyle Bass and countless others have warned before.
http://www.zerohedge.com/news/2015-06-28/helpless-china-tips-its-hand-market-crash-poses-great-danger-social-stability

[Serpo]

Gold on life support

http://www.lovingjustwise.com/LifeSupport.jpg


so there is a pulse

[Sparky]

When the run starts, it will likely be more like 2-5 years.

Is this the start of it? Maybe. There have been a few false starts during this seemingly endless bottom. But these painful consolidations are required for enduring run-ups.

The Greek bank closures this week could be big, or it could just be for show as the bailout negotiation deadline ends this week. It could be that the Greeks are just telling Europe that they are willing to be drastic.

It does however, portend of what is inevitable. It looks like Europe is going to fail before Japan. The U.S. and King Dollar will be the last to go. Interesting to see the market reactions this evening as Greek announces capital controls and bank closures:

Equity market futures down
Euro down; Dollar up
Precious Metals up
Bonds up; yields down

It's important to understand the reaction to financial instability. Assets move to the USD, precious metals, and U.S. treasuries. In 2008, money came out of gold at first, as the USD and Treasuries got all the "safe haven" capital. I think this time around, all three will begin on a more equal footing. I think this is the lead-in to the final stage of the bond bubble. I keep hearing that interest rates are going to spike. Nonsense. They have to go through one more shocking spike down first, as scared money comes out of stocks. I think gold's most lucrative advance will happen during the inevitable bond crash. I'm happy to see it simply gain an equal footing with bonds at the moment, as bonds are still considered a "go-to" haven.

Maybe this is an important start. I think we'll know in about a week, as we'll find out the status of Greek's bailout by then. The best bet is kick-the-can. But each of these scares makes gold look more attractive in the long run.

[osoab]

I don't see much of a move.

http://www.finviz.com/fut_chart.ashx?t=GC&cot=088691&p=m1&rev=635711234029588534


Up 1% currently.

They will smash that in the morning.