Gold & Silver Pop As No Fiscal Cliff Deal Yet, Obama To Speak at 1:30

silverAfter consolidating throughout the overnight Asian and London session as well as throughout morning COMEX trading, gold and silver have just gone vertical, with silver up .65 from its lows to $30.53, and gold popping over $20 to $1681
Meanwhile, the FUBAR fiscal cliff negotiations are reaching critical stage with less than 12 hours left to make a deal, with Obama scheduled to speak at 1:30pm.
Somehow we suspect it will be to place blame on Republicans for sending the country over the cliff, rather than to announce a deal.


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Silver’s vertical move to $30.50:

silver

 

Gold’s move through $1680:

gold
Look for major volatility come Monday, particularly if no last-minute deal is reached contrary to market expectations, and Obama sends us full-steam over the cliff.

Comments

  1. Its not over till we see pops of at least $2 in seconds…..

  2. I still think that the cartel is going to crush silver downward imminently , after this the price for phyzz will explode higher.
     
    This could stimulate a huge round of buying, and delivery taking, and clean out the Comex.

    • At this time there is no new buyers coming into the silver market. The ones invested are for the most part maxed out. I’m not about to add $100,000 more unless it drops more. So I see no huge buying source to stimulate the price.

  3. Greetings to all preppers from a rabbit hole in the Republic of Panama.  No need to worry about the fiscal cliff unless you are a trader.  We are not at the end yet.  Keep plenty of cash buried where you can get to it.  Silver is not yet money.  It will be I just don’t know when.  I will be very nervous if silver takes a deep tumble or a meteoric rise.  That will mean we are getting scary close to the collapse.  Right now, the powers that be, who control the ESF, are going to fight like hell to keep things right where they are.   When things get out of control for them that is a sign.  I am usually wrong about things but I believe they will continue to do desperate things.  They will smash gold and silver price down when we get real close to the collapse and it will be real hard to find phyzz when this happens.  Watch out.

  4. PK   Long time no see.   How are things in Panama?  What are the Panamanians saying about the idiocy going on this country.  They must be appalled, even if they do use the US Dollar   that must make the people in the know a little nervous

  5. All this fiscal cliff talk is a hoot.  Folks, we went over the cliff before QE1 and all these QE’s are the PTB trying to grab a branch that keeps breaking on the way to the bottom.  We are like Wile E Coyote right now just waiting to hit the ground and have a huge boulder fall on us after we think we made it out in one piece.
     
    That said, I bought more silver at the 29.72 mark last week and couldn’t be happier about it.

  6. Word is out that Cornelius is going to read from the sacred scrolls of the apes again: “Beware the beast Man, for he is the Devil’s pawn. Alone among God’s primates, he kills for sport or lust or greed. Yea, he will murder his brother to possess his brother’s land. Let him not breed in great numbers, for he will make a desert of his home and yours. Shun him; drive him back into his jungle lair, for he is the harbinger of death.”

  7. AGXIIK  Most folks are asleep in Panama.  Panama’s economy is booming.  Everyone that wants work is working.  The wealthy know what is going on including President Martinelli.  But, they are so wealthy that none of this chaos really affects them anyway.  We got terrible food inflation.  Well, inflation in general is sky high.  I have had to make cutbacks.  High inflation is already a reality for us.  The US will begin to see the same thing in my view next year.  Silver is very expensive here and hard to find.  20% premiums and thinly traded.  The people here wouldn’t know a silver coin from an aluminum coin and I don’t expect that to change until the dollar collapses.  The dollar is king here.  Panama is a cash economy mostly so I expect the dollar to hold its value better than in the US but that is questionable also as I am only guessing.  We are hanging in there.  As I said, business is booming here.  I have no idea what is bouying up this economy or how long this boom will last.  Happy New year!!!!!

    • I have been looking at the Honduran Private Cities Project. Imagine if they can pull this off! I would go if I saw enough ex-pats going there. It could turn into an island of liberty in a NWO totalitarian ocean.

  8. I’m guessing ex pats bringing billions in off shore fund, entrepreneurs doing the same plus lots of retirees spending like there is no tomorrow.  Panama must be feeling the effects of the QE FIAT printing that flows huge inflation to other countries. But will enough wealthy people doing well, a cash economy and business booming, the folks won’t complain too much.  

  9. AGXIIK  To my knowledge not that many Americans are moving here.  They cannot afford it or they just can’t handle the austerity that living here entails.  Panama City is extremely expensive and chaotic and filthy.  The country side lacks infrastructure and things to do for Americans.  However, there are many folks immigrating here from other country’s, especially spanish speaking country’s.  Lots of rich folk from Spain or Venuzuala or a myriad of other country’s.  Panama does not discriminate against those who have money.  They are welcome here, unlike in the US where the rich are despised and resented.  Panama is also borrowing lots of money to repair its infrastructure.  We have all new roads and hospitals going in etc even in the country side.  The amount of new buildings etc that are going up everywhere boggles my mind.  Home prices are rising.  Rent is rising.  You name it.  But, even with all this going on Panama offers some of the worst tasting food I have ever eaten.  In the world.  The only food I have found to be worse in my lifetime was in the lovely country of Ghana in W Africa.  God bless them.

    • Hmm I am used to living frugally and without a whole lot. Growing food should be easy there too. How safe is the countryside?

  10. PK   I hear what you say.  Most of my off shore and Ex pat news letters like Casey, TDV, Sovereign Man, Sov Society etc. are talking a blue street about how wonderful it in Panama, Costa Rica, Nicaragua, Dominican republic, Peru Chile, Argentine, Singapore, Ecuador, Hong Kong etc etc.  The problem with this is that no matter where you are, there you are.  No place is perfect and I have not plans to move full time. But living in another country does have its intrigues if for no other reason than change can be enjoyable.  Stay safe. Best of the new year to yo.

  11. AGXIIK  It is not easy to live overseas and it certainly is not for everyone.  Just ask Jim Sinclair.  He will give you an honest opinion about that subject.  Most folks that visit Panama never come back.  Especially the woman folk.  I rarely if ever see anyone who visits my rabbithole ever again.  Usually those that stay here have their quirks.  Lots of weirdo’s and those folk that cannot get along in the US.  I do not trust gringos that live near me for very good reasons.  You pretty much walk alone when you live overseas.  We do enjoy certain freedoms here as we live off the grid.  We have privacy etc.  We make a lot of sacrifices as well.  We have to live on the down low because we are foreigners for example.  Now a days, it is a good option in my opinion to live overseas since the US is becoming third rate anyway and we are subject to all sorts of tyranny.  Being a Christian conservative is not a popular stance anymore.  The libs are the majority now in the US.  And will be for the foreseeable future.  Demographics are not in our favor.  Socialism is the future of America.  Corruption rules now.  I am glad I voted with my feet.  Good luck to you and your family in the new year.  I will pray for all of you.

  12. The Luciferians want Silver upwards ,Rise Lazarus

  13. Is anyone here considering that Moody’s may very well downgrade (very strong probabilty) the U S credit rating?As our genius politicians try to find their asses in the dark? If in fact Moody’s or the other big agencies downgrade U S Credit that Gold and Silver may very well take off without any end in site? Just wondering. What’s your take??????
     

  14. My sources are giving me either $30.30ish or $30.10ish for a current spot price. Which is it?
    Netdania and Bulliondesk in great disagreement on both silver and gold.

  15. It’s a measly one percent move.  Happy new year.  

  16. well expect a big attack on gold and silver the cliff has been kicked 2 months down the road

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