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Look For Gold Selloff If Paulson Needs To Shore Up Liquidity On Negative PR
And judging by the action in gold, the market is already anticipating this.
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Liquidation in Paulson's gold fund....
I wonder who will be picking it up on the cheap.
Sprott.
Eric Sprott probably
I thought this was just standard operating procedure going into contract expiration.
I wonder if this is the start of a broader liquidation like we saw in July '08. There were several stories claiming that it was engineered by the Fed to drive money into treasuries, are we seeing the sequel?
Read my mind TD.
I wouldn't get too excited. Sure, 40% or more can be made on puts on the SPY, FCX, COP, BAC over the coming days to two weeks or so but medium and longer term technicals suggest it's still onward and upward. Also, treasuries were oversold and due to bounce back as well. My sense is summer peak as they stick it to the bears one more time.
Buying opportunity.
With the Hollywood Futures Index premiering next week, all the big boys wanted to make sure their seat belts were on tight.
+1 paper gold got bitch slapped
Gold is being hammered because equities are selling off. Nothing more nothing less. Can't have gold looking good on a day like this. Clueless investors might take notice. http://www.sharelynx.com/chartstemp/IntradayGCManipulation.php
...agreed.
no where to run.
no where to hide.
"fiat" is your daddy.
Yes i think so, don't want the money to go over to gold. A combination of the manipulation team and some sell off.
Why started the selloff after the PM fix in London when the trading there was almost over? Why got Ag and Pt sold similarly?
Any seller should look for a liquid market and sell there.
So, somebody wants a low price for gold and somebody else is glad to get more metal for green paper, nothing new here.
How does one rely on technicals in a market that has been and is completely detached from reality and/or historical precedence?
I keep hearing 'There are no markets anymore, only manipulations.'
I expect the end-game will include a collapse of the (paper) POG towards $0, because most of it is nothing but paper promises with no insintric value. When the music stops there won't be enough chairs and a lot of people will discover that their wealth has evaporated.
gold is a screaming buy here....only honest money !!!
Even if Paulson had to liquidate 100% of his gold position, it would not lead to the sell off in gold we are seeing.
Many big boys would drool at the opportunity to immediately swoop in and assume this gold.
Something else is obviously going on here.
The LBMA traders are doing what they do best - preserving what little integrity fiat currencies and rigged equity markets have, by manipulating gold lower.
At all costs they cant allow gold to be viewed in the way it should be.
http://icanhascheezburger.com/2007/10/20/quid-pro-quo-clareeze/
You idiots. All commodities are selling off in a "risk off" unwind. Gold is just one.
Let me adjust your statement:
The real stuff got sold off the first unwind. What makes you think this time it's not more real stuff? LOL
Not really. Physical bullion was in enormous demand throughout 2008, INCLUSIVE of the "crash". Every bullion dealer within 500 miles of here was sold out, as were several online dealers.
The declining spot price was a purely paper phenomenon. I used the opportunity to stock up. I will do the same this time, if the dealers haven't wised up and stopped using spot price.
Right. "Risk off". And coincidentally oh so fortunate for JPMorgan too, since according to the latest COT report, the total net short position for the bullion banks in gold was 24.9 million ounces, but as of April 15, the total amount of gold reported by the Comex that is available to be delivered was 2.4 million ounces.
Silver's off nearly 5%
Yeah! (big grin).
Plus, an earthquake (4.9) just hit Salt Lake City!
Just sayin....
Speaking of Eric Sprott here is a link from CNBC interview just yesterday. They were wondering what would spark the next problem ironically...
http://www.cnbc.com/id/15840232?video=1469756672&play=1
physical gold is not a risk asset...it is the ultimate safety asset
Let's not get too carried away here. Paulson's fund has about 30B under management, with only about a third of it in gold. (wallstreetpit.com) Personally, Paulson is worth about 6 billion, and has put 250 million of that into his gold fund. Since Paulson & Co. hasn't even been charged in the SEC move against Goldman, it's hard to see how Paulson personally has been annihilated by a 2% move in gold. I think it's just as likely that he's adding to his positions.