Waiting for The Bernank

295
Wed, Dec 12, 2012 - 9:57am

A nice little rally this morning. Hopefully, it's not a headfake. We'll know soon enough, I guess.

In honor of our rally this morning, let's have a Hat Contest!! Only one category today and that's silver. The winner must correctly guess the final closing price for spot silver on the Kitco chart in the homepage. This price closes at 5:15 EST before trading resumes at 6:00. Please use the comments section below for your guess. I'll close this thread at 12:30 p.m. EST, when the Fedlines are announced.

Speaking of the Fedlines....they are all that matter today. Everything else is just noise. Back in September, the Fedlines came out at Noon EST but today it is apparently 12:30. My guess is that LIESman complained to The Bernank that, back in Spetember, he didn't get a lunch break. It was Fedlines and then jet across town for The Bernank Gobbledygook Press Conference. With the extra half hour today, LIESman will be able to pound his baloney sandwich in peace before the big news.

https://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/12/five-things-to-look-for-out-of-the-fed-today/

So, anyway, things are liable to get pretty dicey around here later. Hopefully, the servers will hold up through all of the traffic spikes. As far as price goes, silver might see resistance at 33.80, 34.40 and, if we really get rolling, anywhere over $35. If The Bernank "disappoints", look for support at 32.60 and 31.80. Gold will encounter resistance at the old "Iron Dome" of 1735-1740 and, of course, our latest highs of 1750-1755. The 1750+ level would also represent the old buggaboo of a 2% daily cap so that level would be worth watching later today. If a gold cascade develops, look for support near 1705 and then 1680.

OK, that's it. I'll have a new thread for you shortly after the Fedlines are released. Good luck with the Hat Contest!

TF

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  295 Comments

Ferd Torgerson murphy
Dec 12, 2012 - 11:50am

Oh, My

Murphy wrote:

"What will be used as currency when this happens again in 89 years at 01.01.01.01.01.01am EST?

Bueller? Anyone?

Additionally, if none of us are around to see it would it actually be real?"

Not sure what the currency will be at that time but you'd be my first choice to still be hanging around, especially if there is a dishonest living to be made in whatever that currency might be. wink

Ferd

Stock_Canines
Dec 12, 2012 - 11:50am

My guess

32.73

Quisp
Dec 12, 2012 - 11:51am

AG price

$33.27

Stack'em High
Dec 12, 2012 - 11:51am

Silver

$34.83

silverengineer
Dec 12, 2012 - 11:51am

33.98

33.98

mahen
Dec 12, 2012 - 11:52am
Bollocks
Dec 12, 2012 - 11:52am

Silver

0.00

(I just want to be at the top of the list wink).

NEGATIVE numbers aren't accepted. My rule that I just made up.

Oddzon
Dec 12, 2012 - 11:52am

$35.05

$35.05

Groaner
Dec 12, 2012 - 11:53am

silver is above the support line now

to me thats a good sign,, but its nothing until we hear the news.

We can be assured of one thing, what ever they do, it will be the wrong thing. Their track record proves it doesnt really work.

chris freestyle
Dec 12, 2012 - 11:53am

just a guess

33.20 $

foggyroad
Dec 12, 2012 - 11:53am

What do all the cool banker's kids want for Christmas?

...the Fed Chairman -- Coat and Hat ensemble ( helicopter sold separately).

33.76 silver guess, 2% move restricted price.

bluefish
Dec 12, 2012 - 11:55am

silver price

My guess is $34.40 which is as high as it got to in recent weeks

Bsong
Dec 12, 2012 - 11:55am

34.34

33.99

opalboy
Dec 12, 2012 - 11:56am

I would have to say

silver will be at 34.47

and I pity da fools who aint got none!

ABQBear
Dec 12, 2012 - 11:57am

Ag @ 33.11

$33.11

First Post... hope to BTFD today. :)

Lurknomore
Dec 12, 2012 - 11:57am

Out of the shadows...

If there were a hat contest for "longest lurk" I'd be wearin' it, for sure. But I'm not registering here for a hat (although that'd be cool). Instead, I wanted to make mention that I had moderate difficulty in ordering some of the medallions this morning from silver bullet/silver shield...

TF: I tried the link you posted to go there to order, and it did eventually go through (with a few extra clicks), but the order process was clumsy. My 1st two attempts were a bust, so I got them on the phone, only to find out that they're having 'phone issues' today. I was informed that my order did not got through because they have "exceeded their limit" on credit card transactions for the month?? Then the phone cnxn was lost. Called back, they had me go through the order process again online, and choose a diff payment, etc. etc....anyhow, I hope I get my medallions, and that my cc is not dinged multiple times...oh, and I would be very surprised if after all this that you will get the agreed upon commish that you rightfully should, as I found them/him through your site....

anyway...ag @ 33.69 at kitco close today

kn33bar
Dec 12, 2012 - 11:58am

Closing price

$33.30.

Big Buffalo
Dec 12, 2012 - 11:59am

Let's get ready to RUMBLE!

shorting the piss out of this...

Argyrocatharsis
Dec 12, 2012 - 11:59am

34.71 Silver contest

I will change me guess since moguls beat me to 34.77......my new and latest guess is 34.71

vivekmert5
Dec 12, 2012 - 11:59am

Guess work for trud hat !!

silver closing $ 34.74.

Goober
Dec 12, 2012 - 11:59am

Silver

34.28

dnlward
Dec 12, 2012 - 12:00pm
Bollocks
Dec 12, 2012 - 12:00pm
Silver Passion
Dec 12, 2012 - 12:01pm

$33.75

$33.75

agNau
Dec 12, 2012 - 12:02pm

Iran....

will have a (Goldman)central bank!!!!!! https://www.goldcore.com/goldcore_blog/obama-likely-approve-gold-sanctio... First stealth price manipulation....then outright open price beatings....now restrictions on metals trade between nations. The Anglos are losing their grip? Turkey caught both within the "barter" and now the heat of war....aided by the big players on opposing sides. Russia has added more to the effort recent, with their supersonic S to S missile system snuck into Syria. There is no missile defense to this system. Remember, "I will have more flexibility after the election" Where does the new growth engine of the world emerge when Ben steps up devaluation once again? The dollar/food connection is the weapon of choice for destabilization. Recent articles from China attest to higher food prices. Heat is coming. All the pieces of the puzzle arrange before you. It is my belief that things are not so simplistic as we may think. This is a very complex chess game.

exrocker
Dec 12, 2012 - 12:03pm

Silver my guess

$33.46

keep stackin'

Chris P. Bacon
Dec 12, 2012 - 12:03pm

$32.85

Thanks Turd!

Larry
Dec 12, 2012 - 12:05pm

Today close down .12

Yesterday at 33 NY close. You know how those evil ones and their monkeys like to play with numbers. Today's odd number is 12. If they can't smash the price as they would like today, they'll at least taunt pm holders every chance they get. So my (far fetched) guess is they'll drop it 12 cents from yesterday's for a lower close so that they can say, "winning!". Much bigger moves in the days ahead. Down or up is the question. Both would be my guess (submerge beachball deeper first).

On 12/12/12 the silver price close will be... 32.88

Groaner
Dec 12, 2012 - 12:05pm

So far the news has not been kind to the metals the past few

months.!!! how about a break for a change????

beach_bum
Dec 12, 2012 - 12:05pm

Since when do we get X-Mas presents from the Fed

32.38 and I hope I'm right since I'd like to get some more

before they lose control of this thing.

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