Gold & Silver EXPLODE to $35.50 & 1793 As Chicago Fed’s Evans Calls for MORE QE!

Gold and silver have just gone vertical as the Chicago Fed President Charles Evans has just appeared on CNBC calling for QE∞ squared!
Silver has exploded nearly $1.50 to $35.50, and gold has jumped nearly $20 to a new 2012 high of $1793!!

*Updated with Evans’ CNBC interview

Silver exploded to $35.30, briefly paused, and then made a 2nd vertical move to $35.50:

 

Gold’s move through $1790, setting a new 2012 high at $1793:

Now you understand why in an era of QE to infinity…all dips in gold and silver must be bought professionally, as there is no going back now for The Fed.  They will continue to devalue the dollar vs. gold and silver, and the rate of devaluation will likely only accelerate from here.

Evans’ CNBC appearance below:

Comments

  1. What some talking head giveth, another can taketh away.

  2. It’s a weird world we live in when a Fed Chairman can speak and cause precious metals to ramp upwards and a toothless CFTC, supposedly a champion of for the rule of law in commodities causes precious metals to go down in price.  The irony does not escape me here

  3. Wow, that was a surprise! Only $1.76 away from breaking $37 then we will probably have another April 2011 blitz towards $50.

  4. Big smackdown coming, they will want silver under $35 before the 9:30 open.

    • When people see a spike like this morning’s, after a rise such as we’ve seen in the last month, most will see it as a sell signal and thus the immediate drop following the spike. Half of the drop is certainly raiders and half is the sheep being led by the cartels raid. Fear will blind many sellers into thinking “I better sell now because it will drop from here”, however, this chart to me, and to many others, is a huge buy signal. Those who are waiting for a serious dip to acquire more metal, or their first purchases of metals will be wishing they bought at $35. Historic analysis can only go so far in an event that has no historic equal. Even the fall of Rome will look puny in comparison to the fall of the entire globe. That was a great call by the way, almost to the second!

  5. Good call Silveralert, currently sitting at $34.95

  6. Let me see if I have this straight…..buy up mortgage backed securities and get people to refinance, then with more debt based spending, employers will need to hire more to keep up with demand……Who the F%CK is fooling who? I would venture to guess that those homeowners who fall into that category amount to about 3% of the public and some of them will not spend spend spend that artificial gain in assets so that leaves about 2% of the public responsible for turning this train around and increasing employment numbers by increasing debt??????
    These guys are just simply too too funny! Best laugh of the day so far….could become best laugh of the year! Where is Ron Paul when you need him? Oh, that’s right, the media and the GOP removed him systematically.

    • Buying the MBS was the FED’s way of saving JPM for another 90 days. With JPM free from all of those pesky mortgages, they have more leverage to infect commerce as they slowly bring this nation to its knees.

  7. Three percent up and two percent down is still one percent up!

  8. Silver explodes????? to….., $35.50 maybe a pop, bur nowhere near an explosion. I wonder what wording will be used when silver goes up $5.00 in one afternoon? The hyperbole here is somewhat amusing. The correct wording should have been silver is trending upward on relatively no real news.

  9. up it goes,, and in 10 min…. down it goes!
    clear manipulation! how can the price go lower when they say more QE and more increase in money supply!  the price should not go back to the point before what they said they will do!

    • Sure it would because the ones in the known plan for it to. We are not seeing a constant movement of $.75 – $1.00 on the upside only to see it return most of its gains. What most are missing is we are stair stepping our way upward. This trend will continue until we near $40.00 and then BAMM – back to $36.00.
       

  10. Okay! I Just woke up. I was wondering what happened to the $1.50 upswing..Someone at the morgue made sure something did a reversal..Pretty Sad. I should have stayed asleep. 

  11. Well that spike above $35.00/oz lasted about as long as a 17-year old’s hard-on in the back seat of dad’s Buick at the drive-in!.

  12. And I bet JPM made a tidy little profit on that spike and drop after. They are playing a game that is leading to the downfall of this country and it will continue until we the people remove the problem in D.C.

  13. I think that silver will stay stable at about 34.50$ per ounce for a long time since there aren’t a lot of actions going on right now in the silver market like the actions that were done at about 1 month ago. Unless if the Federal Reserve keeps printing a lot of dollars right now and then passes them to the others.

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