i was setting this up for a run on the gold on the sama gold market they have it. yes i think that's the case in what well what is happening at the moment i don't know sitting starting to trend global gold club new grass was close to the physical market he said he's seen a lot of physical gold coming here but in a large quantities and the buyer solve it aren't large institutions central banks of the banks to set aside their requirements and ultimately is or is going to. break down into sickle market although at the moment in libya the goal while being tight does not actually appear to be completely run out but we should see new sources of potential for foreign gold anyway if you look at what's happening in india now talking about leasing gold when this will be most intriguing because what is going to happen there is a look at least it knows that sent somewhere else and no doubt when they ask for the goal that little and little well you probably have to send yours as well so if i were. in the indian central bank lessing i would do it's only single people in the cert

i was setting this up for a run on the gold on the somme a gold market they have it. yes i think that's the case and what well what is happening at the moment are starting to trend global gold cloud new grass is close to the physical market you saying he's seen a lot of cisco gold coming here but it is a large quantities and the buyer solve it aren't large institutions central banks or the banks to set aside their requirements and ultimately is or is going to. break down into sickle market although at the moment in libya the gold while being tight does not actually appear to be completely run out but we should see new sources of potential for foreign gold anyway if you look at what's happening in india now talking about leasing gold in this will be most intriguing because what is going to happen there is a look at least it knows that sent somewhere else and no doubt when they ask for the goal that little and little well you probably have to wait for seven years as well so if i were. in the indian central bank lessing i would do it single to people in the sort of knowl

gold reserves. nixon responded by defaulting at the gold window on august 15, 1971, my 33rd birthday. the president abolished by executive order the last vestige of dollar convertibility to gold. tattered remnant of the gold standard had been destroyed by the undisputed leader of the free world. the rise and fall of real money, it seemed, was now a finished chapter of history. gold would thenceforth be primarily a fluctuating commodity, though even today monetary authorities do hold about one billion ounces of gold. and also contrary to conventional opinion at that time, the dollar would continue as the world reserve currency to this very day. the world dollar standard. but now the dollar is a nominal paper and deposit money, a legal token linked primarily to the judgment and manipulations of its issuers and regulators at the federal reserve system. quantitative control of money has supplanted the market. may i sum up briefly a few indisputable, long-term economic consequences that followed. but let

gold on track for one of the worst months. what happened to the $2,000 gold? we'll ask if the gold run is done for good. >> later on does twit ver what it makes to make it on the street? we'll debate looking back at how some of the other social media stocks have fared since they went public. . >>> gold is having its worst week since june. straight to sharon epperson, i believe we'll get her later on. gold has been having a tough time. talking about a moment ago, brian, the dow having its second best week of 2013, gold has been having a terrible time as people are also factoring out all the problems in syria and also thinking if the fed taper comes, we could see a stronger dollar as we are clearly seeing has been quite negative for some of the precious metals like gold, silver and others. >> it certainly has been. so exactly why then has gold been weaker than a mixed drink at a wedding. stronger dollar, emerging markets, india's problems or just the fact that gold is speculative and basically no industrial use. joining us is td ameritrade's jj and restaurant ow

you saw gold spike. think going into the fourth quarter, the best play here is gold. >> there is no inflation. >> exactly. >> and i agree with you, brian. all week the fed was very dovish. four week job list. the labor market doesn't look awful. the data that comes out i think looks decent. the trade for me is you stay in the reacceleration of some type of an industrial move. so guy was talking about caterpillar, if you look at a lot of materials names if you look at miners we had a pmi flash china pmi, which basically is a read what we'll get end of the month. these numbers are as good as china has given in months. look at the reacceleration in urm, they are not give anything more stimulus they actually see strength. this is a sign to me, that real names that have real growth are places you can stay in. the internet stocks the chinese internet names are booming. and these are places you have to take profits. because these are names if you don't take the profits, you have nothing left with big gains. >>

scott, gold -- gold is like a form of insurance. i don't think you look at gold to go ahead and say, okay, i'm going to buy it today and sell tomorrow. >> right. >> gold is something, like, if you feel that -- just like life insurance. you buy it, you put it away, whether it's 1%, 2%, 5% of your assets, and you hope it never pays off. what would the world look like if gold is at 3,000? it wouldn't be pretty. the fact that everyone is worrying, i'm buying gold, why isn't it up today? very simple. the price of gold, if it goes down, the insurance becomes cheaper. if it goes up, you want to buy insurance, it becomes more expensive. the fear of index of gold, i would be scared if it was trading $3,000. and the point being is, do you own it as insurance and put it away? yes. how much? that's up to an individual investor's tastes. but the fact is, you know, the anxiety -- obviously, gold is -- gold has lost its luster because of, you know, the -- of everything coming down the middle east. it's lost luster because of interest rates. a cost

by changing the combination you can mix plain gold with diamonds u.s. as you can see here or other times mix gold with steel or you can really alter the look of the piece and have a various price change. so there of the also a number of superb dines as you know color is typical of the dine and roundness. for example, gems of extremely high value i see those larger columbiana emeralds are mounted next to a.m. sister and bus topped calibrated rube i didn't see. so once in a while color, rounded shapes and mixing gemstones regardless of the individual intrinsic value. and so by so doing they create the jewels that are chafshgd as a casual formality which in my view is the essence of italian style at large. now finally, i'd like to end this talk by showing you the jewels of elizabeth taylor. now day. elizabeth had a passion for collecting jewels and husbands. (laughter) >> now the jewels you'll see in the exhibition are mainly the gift from here fourth husbands east i didn't fishing and 5th and 6 accounting husband richard burton. they were worn extensive b

futures if they want the price of gold to go down they sell gold they sell naked futures in the gold market they work with banks on wall street selling futures contracts they move prices where they want prices to go so in the case of stocks they like to move them higher because the dow jones according to alan greenspan another federal reserve chairman saying that everything that they do in policy in washington is to make the stock market go higher forget the fact that a vast majority of americans don't own stocks vast majority of americans are on food stamps are not the majority but a huge percentage are on food stamps and. since there's nobody in washington or on wall street who has a food stamp edge fund if there was then the value of the food stamps would double and triple the purchasing power so you'd be getting much more in your food stamp if you had that multi hundred billion dollar food stamp industry being controlled by a hedge fund manager like ben bernanke you but unfortunately the people on food stamps don't have representation so as a hedge fund and not hedge fundamentali

even more gold! more gold, your highness? uh... [ yawn ] i'm so sleepy...h, as you wish. [ yawning ] here i go. spin the wheel, lo and beho... ho... ho-o... [ snoring ] oh my chinny chin chin! rumpelstiltskin fell asleep! [ muttering sleepily ] rumpelstiltskin? rumpelstiltskin? he won't wake up! and i still don't have something golden to wear on my head. oh! what will i do? [ ♪ ] wonder red to the rescue! [ snoring ] oh! with my wonder words basket, i can find something golden for you to wear on your head. let's read this word. what is this letter? children: "b"! "b". what sound does "b" make? children: buh, buh. buh, buh. and this says "at". buh-at. what word is this? children: "bat"! bat! ooh, this is an "at" word. i love "at" words. [ singing ] ♪ wonderific you're terrific ♪ ♪ wonderific you're terrific ♪ let's see what happens when we put the word "bat" through the spinning wheel. [ ♪ ] [ snoring ] wonder red: [ gasp ] it made a golden bat! [ laughing ] [ squeaking ] a golden bat? i cannot wear a golden bat on my head. no, thank you. [ squeaking ] ew-w-

we're talking about the big gold bars. could a gold rebound be in sight?e'll break it down. >>> plus, why is mike taking on floyd mayweather? >> i told him may 5th is open. >> this weekend's bout could mean a knockout for your portfolio. >>> does the twitter ipo mean tech? we're breaking it down. the action begins right now. >>> live from the nasdaq market site, i'm melissa lee. these are the traders here on the desk. while stocks continue to soar, some of the momentum names that led the market are showing signs of fatigue. tesla shares taking a breather. netflix also showing signs of running out of gas as does zillo. is the market losing its mojo? let's get in the money and find out. dan nathan, what do you think? >> i would say, you know, they're taking a pause here. these things have appreciated so much so fast in such a short period of time. to me, i think the fabulous games year to date speak to risk appetite and, you know, there's been a lot of it. we're having one of the best years in the nasdaq and s&p in a while, but these things don't really repr

we're talking about the big gold bars. could a gold rebound be in sight? we'll break it down. >> plus, why is he taking on floyd mayweather. >> i told him may 5th is open. >> because this weekend's big bout could mean knockout returns for your portfolio. he'll explain. and does the twitter ipo mean the top is in for tech? we begin right now. >> welcome to new york city's time square. i'm melissa lee. while stocks continue to soar in september some of the names that lead the market are showing signs of fatigue. tesla shares taking a breather. netflix showing sign of running out of gas. is the market losing it's mojo for momentum stocks. let's get in the money and find out. what do you think? >> they're taking a pause here. these things appreciated so much, so fast, in such a short period of time. fabulous games here to date speak to risk appetite and there's been a lot of it. we're having one of the best years in the s&p and nasdaq in awhile. but these things don't represent value. so to me, it does speak to the fact that people are chasing performance. the

>> no, the big gold bars, after a huge route could a gold rebound be in sight. we'll break it down. plus, why is mico taking on floyd mayweather? because this weekend's big bout could mean knockout returns for your portfolio. does a twitter ipo mean the top is in for tech? we're breaking it down. the action begins right now. >> i'm melissa lee. these are the traders on the desk. some of the momentum names that led the market are showing signs of fatigue. tesla shares, taking a breather. new internet darling zilo is a market losing its mojo momentum stocks. what do you think? >> i would think they're taking a pause here. they've appreciated so fast in a short period of time, i think that the value of the game year-to-date speak to risk appetite. there's been a lot of it. we see we're having one of the best years in the s&p and nasdaq. these things don't really represent value. so to me, it does speak to the facts that people are chasing performance and they know they've got it here. >> what does it mean if they're losing steam? if the fuel higher was the trade for performance -- >> m

trade higher without that artificial dump of gold pre taper new gold would have probably jumped to over two thousand dollars an ounce based on this idea that the fed is completely out of its depth it has no ability to rein in their massive hedge funds skullduggery and of course of gold gets above to a new all time high then the entire mindset of the world's traders and economy is that oh my god they're really are out of control we need to buy gold and then the entire facade cracks and this is why it's important to keep the price of gold down correct absolutely correct and below certain technical levels that would automatically draw in both physical and technical buying so it's all a game here just in the cut in technical buying being that more or less computers are programmed to buy and sell at certain price levels in the case of gold is like there's an important level of fourteen hundred just that four hundred level that if it starts to get above that level currently computers driven by money financed by the fed which their cost of money is zero and their ability to sell short naked co

check out gold's daily chart. garner thinks we could catch a nice pullback in gold once our government decides what to do in syria, that's the certainty element that should bring down gold, she expects traders to buy on the rumor of a syrian strike and sell on a fact, whatever that fact may be. if the u.s. shoots missiles at syria, she believes gold prices might actually relax when it happens simply because most of the buying will have taken place in anticipation of the attack. and if our government refrains from hitting syria, many people will decide to ring the register. and if we get that syrian selloff in gold, garner says that will be the time to buy. if you look at the bottom of the chart, the relative strength indicator, the rsi, an indicator we use all the time here as well as the percentage r oscillator developed by larry williams helps measure whether securities are overbought or oversold. both of these key indicators have drifted down out of overbought territory. it's coming down. based on where these t

so i know tonight we don't have a gold medal. gold medals are rare. they are really rare. i have been on the medal committee since 1997, and i can tell you that just about every gold medal was unanimous. and i was commenting and the one that everyone could understand the most is when the tiger got out in the zoo. and is the police department went in with .40 calibers to hunt tigers. and someone said there is only three things that tigers do. they eat. they sleep and they make baby tigers. and that's all they do. and so to go in and they rightfully got a gold medal. the threshold for the gold medal, outstanding bravery of that expected in the line of duty, where risk of life existed and the officer had sufficient time to evaluate that risk. and the objective is sufficient importance to justify that risk, and the officer was able to accomplish the objective by disabling injury or death. and sadly we have awarded more gold medals than i would like to talk about postously. and silver medals of honor, is awarded when the following elements exist. when the officer protessed outs

it was gold's day to shine. whenever we have one of these big bad events, and believe me the obama administration and congress taking their time to decide whether to shoot missiles at syria counts as a big, bad event. i like to take a step back, try to distance myself from the hysteria a bit. you don't want to make emotionally driven decisions in this business. you need to stay analytical. people who make emotional decisions lose. that's why tonight we're going off the charts. take a look at the rise in gold and oil with the help of the co-founder of decarly trading. as well as being my colleague at realmoney.com and a terrific technician with a great record of late with the show. if you want to play either gold or oil, you're going to have to table the whole syria issue. you have to take a broader perspective. why don't we start with gold, please? garner points out that seasonally this could be a good time to buy the precious metal. it just happens to be annually the best time because it tends to rally through

i don't think gold has been totally rehabilitated i mean gold is now technically back in a bull market it's about fifty percent up from the lows that we saw the year that you but it's still down fifty percent from where it started here is still down twenty five percent from where it peaked last year while your view of the recent activity on gold is that it just got to the point it was so cheap that people thought well we're going to be having to position that i have to say that's twelve hundred twelve fifty dollars an ounce level you know huge chunk of it fifty percent of global production just gets to make it so there's this big fundamental support there you know that maybe some upside from current levels but you know it doesn't look like it's going to challenge nine hundred dollars an hour anytime soon so the situation in syria again just adding to all of the similar just behavior on the markets they might enter in from b.d.c. promise thank you so much for your time. the greatly anticipated g twenty summit hosted by russia in st petersburg kicks off this coming thursday with the them

crowns on them and eight gold stars on the red version signifying the eight olympic gold medals won by russia and the soviet union and the new kids are also meant to galvanize the team and the nation ahead of russia's biggest sporting event yet the sochi twenty fourteen winter olympics where the men will hope to make it gold number nine with the help of n.h.l. star alex on but i've yet to get. every athlete wants to participate in the olympics as it's one of the most important words in your life but it's one thing to take part and not to think too when we rush always want to win and i think we have what it takes especially with this new kit you always want to perform in a nice kit. n.h.l. and russia legend alexei yashin took overall charge of the women's national team last december and in preparation for the olympics has now expanded his role to work with the men's squad. was born i'll still be the general manager of the women's team and will continue to work with them but i also now be working closely with the men's team especially with those players based in the us as i spend a lo

was actively disparaging gold dumping gold at the time and sister no dollar stands for the arabs are very worried so the kissinger cut this deal you're right so look you guys agreed to sell us oil for dollars and we'll maintain the value of the dollar that was backed up by vulcan reagan and carried all the way through republican and democratic administrations not just by you know volcker reagan but also by bush james baker bob rubin bill clinton backed it up by raising interest rates only said you know we're going to make the dollar valuable again we're going to make we did it was the king dollar period that's the sound dollar period it's ok not a gold standard but a dollar stand and that actually worked fairly well from one nine hundred eighty two thousand and ten the problem is in two thousand and ten obama geithner bernanke he tore up the dollar standard said we're going to chip in the dollar we want to important. we're going to cut it short you guys are on your own in others no standards at all so you have a new period of chaos if you're the arabs you know the deal has been torn

gold, way, way down.d and oil, which went in the opposite direction with commodities traders from cme and sandra smith coming up in just a minute. "after the bell" starts right now. once again, we'll be taking you back to the fire. huge fire in sea

if you had to choose between buying gold etfs, gold the bullion or gold mining stocks which would be?stocks. >> why. >> down the most. >> were you chatting with herb greenberg before the show? he loves them. >> he does. he's smart. >> that's debatable. >> you're getting a yield greater than a five year government note. management of these companies were overextending for the sake of growth. now it's all about shrinking, getting cash flow out. >> how do we know, frank, whether or not -- i'm going to make up names because i don't know where their production points are. if i'm abc gold corp and my cost of production is 500 an ounce, that's good. if i'm xyz gold corp 950 an ounce not as good. if i'm 123 gold corp and my cost of production is 1200 an ounce that's terrible. how do we know what their cost of production -- i assume we know? >> we track 88 gold producers around the world. it's a key factor of how we generate alpha. i think that many of these companies are driving down their costs, restructuring and that's the focus because their costs were running up to $1500 an ounce of gold

morgan cohen heard the call max gold market it would certainly appear to be that way max and if they have something rather big deal i would say let's talk about the data and the reason i would say that comes from what's not are really applied in there's a silver analyst by name of ted buckner you might know who he is he's been studying all of the c.m.t. see generated data for years so he knows you and analyse looks at all the different reports that come out once a week once a month and he noticed this a couple of months ago i was able to sell my own research and i think he's absolutely right from a short corner of gold which they took late last year when prices on eight hundred inexplicably started going down you're now they've now established a long corner in gold which you sell and you were pricing heading here all right so let's talk about server because that's also big and that is has been for years they inherited a huge short position from bear stearns when they bought a bear stearns. j.p. morgan what's the status of that huge short position still they're still there really yeah

was actively disparaging gold dumping gold at the time and sister no dollar stands for the arabs are very worried so the kissinger cut this deal you're right so look you guys agreed to sell us oil for dollars and will maintain the value of the dollar that was backed up by vulcan reagan and carried all the way through republican and democratic administrations not just by you know volcker reagan but also by bush james baker rubin bill clinton backed it up by raising interest rates only say you know we're going to make the dollar valuable again we're going to make we did it was the king dollar period the sound dollar period so ok not a gold standard but a dollar stand and that actually worked fairly well for nine hundred eighty two thousand and ten the problem is in two thousand and ten obama geithner bernanke he tore up the dollar standard said we're going to chip in the dollar we want to important. we're going to cut it short you guys are on your own it's another is no standard at all so you have a new period of chaos if you're the arabs you know the deal has been torn up they say you

morgan's interest story of gold that they hold i guess a custodian for folks and if it is it is a run on the comix possible or will they just settle in paper and i don't know if you cover the london going markets association or not but there isn't right now according to andrew acquire a rundown on these precious metals on the lot i'm going market situation right now what's up yeah that's been going on for quite some time that we've seen that j.p. the comix depositories have lost something like four million ounces of gold just this year has flown out of their break down all the delivery numbers have come from the sea and the most of it is calm out of g.p. morgan and they were getting out from under the short position this is the short position they're here to the bear stearns one now that's on the gold side ok the silver side they're still short and all the big banks are still short and that's still going to continue to be a big weight a big drag on the silver market he definitely let's talk about the precious metals versus the dollar because as you know america is going to war again y

crowns on them and a gold stars on the red version signifying the eight olympic gold medals won by russia and the soviet union and the new kids are also meant to galvanize the team and the nation ahead of russia's biggest sporting event yet the sochi twenty fourteen winter olympics where the men will hope to make it gold number nine with the help of n.h.l. star alex on but i've yet to get into that every athlete wants to participate in the olympics as it's one of the most important or words in your life but it's one thing to take part two when we were shows always want to win and i think we have what it takes especially with this new kit you always want to perform in a nice kit. and they chelan russia legend alexei yashin took overall charge of the women's national team last december and in preparation for the olympics has now expanded his role to work with the men's squad. was born i'll still be the general manager of the women's team and will continue to work with them but i also now be working closely with the men's team especially with those players based in the u.s. as i spend a lot

>> gold, a really great gold center wouldn't have the government involved at all. >> it gold has just of you people lost a lot of money. maybe this is bad advice. >> it is always two separate things. always speculation what you are buying into. just because you paid the gold doesn't mean you pay the recommended gold as an investment. >> seems like they would go together you would believe in gold. >> it entirely depends on expectations of the future are. that should be embodied in the price of gold now. people are too optimistic or piss mystic that should tell us whether it's a good investment not whether it's a good standard of money. >> what about coins? >> came about four years ago it was one in a long succession of attempted digital currencies. >> it is an internet form of currency that is limited in protecting you in devaluing dollars. >> it is currency and payment. by comparison to the dollar it makes the dollar looks like a dinosaur like there's been no improvement in our money in a very long time. bit coin is a currency for the digital age. it is more like physical property. th

it's great for gold.nd on an intermediate base, it's great for risk assets. >> that was hedge fund giant stan druckenmiller. he was all about gold this morning. metal having its biggest spike since 2009. let's get to sharon epperson at the nymex. sharon. >> michelle, that certainly was a huge spike after the fed announcement yesterday. we did see gold price rally more than 50 bucks, and gold has held on to those gains, ebs tended them a little in today's session as well. keep in mind, we are looking at gains of more than 4% for gold, more than 8% at one point for silver and gains for copper and the platinum group of metals as well. but there's something else it consider hear. you have to remember how the gold future market trades. and it closes at 1:30 p.m. in terms of the floor session. that's really what the closing price is based on. the fed decision came at 2:00, and then we saw gold continue to rally after that. but the etfs gives you a eter indicati better indication of what happened it gold today b

gold corp.f barclays top picks amidst all this, still a quality name, offers production growth, cost controls. so they're downgrading the entire gold mining industry to a neutral rating from a positive. not a sell, a neutral rating. double that up, ashley, with this enormous selloff in gold over the past couple of trading days, and you've got a pretty bearish environment for those gold stocks. so gold, silver and the other precious metals getting hit. ashley: taking a beating. sandra, thank you very much. all right, shares of netflix skyrocketing today hitting an all-time high in the morning's trading after two analysts raise their price targets on the online video service. the stock, by the way, up more than 400% over the past year. so is there room to go even higher? one of those bullish analysts, mark mahaney, from rbc capital markets, joins me now all the way from beautiful san francisco. mark, thanks for joining us. listen, you boosted your netflix target price by some $50. what do you like

think gold is going to do.ou can find out at 1:00 p.m. on futures now. make a date in your diary. >> we will. before we go, hey, killberg, we'll have a little impromptu debate, because josh brown was shaking his head when you were speaking. let's -- >> okay, j.b. >> he's stronger than me. he's an ex-football player. why do you have to tell him i was shaking my head. >> because, let's have a debate. >> killberg, what i think, we've retraced half of the bounce, so it's faltering off of the lows from the summer. frankly, if there's no taper, that would be the most bullish thing for gold, but no one is expecting it. let's say we have the taper as is, no longer talking about summers, already taken him out out of the equation. if year looking at yellen, extremely dovish, but the fed is in exit mode, why would that be positive for something that's supposed to be an inflation hedge in name only? >> so that's my argument, j.b., and the fact that bernanke can actually do 20 billion on the higher end of the consensus rati