Why gold and silver up so much overnight?

G

gastropod

Sorry, not trying to create a useles thread here, but I am wondering WTF is up with spot gold and silver???? Gold at this time (1:00 P.M. Central off kitco.com delayed 30 minutes) is $1015.10 and silver is $17.25!!!!

-gastropod
 
Its really not up that much only a couple bucks. Gold is trying to break its previous high. Silver is overvalued and becoming more overvalued. No shortage of silver unlike gold. This up stocks and up gold thing is getting a little overdone.
 
Quote from Debaser82:

You don't believe in +2000$ gold?
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Eventually, yes. But not right now. Of course, my wife will tell you how often I am wrong.

I'm not a top caller, I'm not a bottom caller. But when it comes to this whole gold/USD/equity craziness of late, my Spidey Sense is tingling like mad as of this morning. Something is about to happen, for good or for ill.

Most likely ill.
 
It's funny how everyone thinks gold is overvalued and overbought, gold is CHEAP compared to where it should be, i'm a bear however gold I'm completely bullish on, once the dollar breaks new lows gold will be up about 10-20%, and that is still cheap compared to where it should be, price adjusted for inflation is well over $2000, that's a long way to go before people start yelling gold is overbought, the dollar is going to collapse, where else better to be than gold, once gold breaks $1034 it should take off even higher.
 
Quote from Ivanovich:

Eventually, yes. But not right now. Of course, my wife will tell you how often I am wrong.

I'm not a top caller, I'm not a bottom caller. But when it comes to this whole gold/USD/equity craziness of late, my Spidey Sense is tingling like mad as of this morning. Something is about to happen, for good or for ill.

Most likely ill.
More...


Something has to give, it ALWAYS does. Like I said the collapse of the dollar is becoming a reality now so get ready for out of control inflation.
 
Quote from S2007S:

It's funny how everyone thinks gold is overvalued and overbought, gold is CHEAP compared to where it should be, i'm a bear however gold I'm completely bullish on, once the dollar breaks new lows gold will be up about 10-20%, and that is still cheap compared to where it should be, price adjusted for inflation is well over $2000, that's a long way to go before people start yelling gold is overbought, the dollar is going to collapse, where else better to be than gold, once gold breaks $1034 it should take off even higher.
More...

Knowing you're on the long side makes me feel slightly better with my prediction.
 
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