It's The US Day-Session, Do You Know Where The Precious Metals' Selling Orders Are?

Tyler Durden's picture


Presented with little comment - but it's that time of the day again...


Some context...


Chart: Bloomberg

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Wed, 12/19/2012 - 10:44 | 3078413 semperfi
semperfi's picture

sweet!  means I can exchange my fiat for MOAR metal !

Wed, 12/19/2012 - 10:50 | 3078429 Killtruck
Killtruck's picture

Taking profits to the gun shop. </sarc>


Edited: forgot my sarc tag.

Wed, 12/19/2012 - 11:15 | 3078583 Max in St Moritz
Max in St Moritz's picture



I'm not sure how much longer the "Oh, Great... metals are cheaper again today....BTFD" meme will continue to work.  Seems like everyone over at TFmetals is on suicide watch. 

Sprott has been doing several YouTube videos telling everyone that there's a shortage in physical gold out there. Anyone know why he's switching from silver "shortages" to gold "shortages"?

Wed, 12/19/2012 - 11:51 | 3078737 LawsofPhysics
LawsofPhysics's picture

Then you don't understand why people hold physical.  It isn't an investment, it's a safe store of value and puchasing power with no counterparty risk.  You buy it during the "good time" when the fiat system has at least some rule of law.  You do this as insurance so that when corruption, fascism and fraud become the status quo, you are protected. 

Wed, 12/19/2012 - 11:50 | 3078740 dwayne elizando
dwayne elizando's picture

I take any analysis with a grain of salt. In the end I use the real world to try and guage it. I know plenty of people who live off the system, plenty of people who have a 401k, more cops than ever before and very few people I know take gold seriously. Many of the baby boomers I know only look at stocks for "wealth preservation". I'll take gold at this point even if it's gonna go down for another six months.

Wed, 12/19/2012 - 12:27 | 3078896 GubbermintWorker
GubbermintWorker's picture

Buy it, bury it, and relax.

Wed, 12/19/2012 - 14:36 | 3079565 Esso
Esso's picture

Yeah, but is anyone actually selling at these prices, or are they all "Out Of Stock"?

Wed, 12/19/2012 - 11:53 | 3078751 CPL
CPL's picture

Count the mines not on strike over the last eight months and you have your answer.

Count the gold bars shipped with tungsten and you'll have your answer.


The symptoms are telling of the situation of availability.

Wed, 12/19/2012 - 12:59 | 3079037 Mugatu
Mugatu's picture

Everyone always acts like finding tungsten filled gold bars is a sign of the coming apocalyse.  I am a gold bug, but a percentage of virtually every valuable item includes fakes.  A percentage of every $100 bill are fakes.  A percentage of every gucci bag are fakes.  A percentage of every diamond on your average housewife are fakes.  

This is not news.  There will always be a percentage of fakes in every item, but through the history of time the fakes never hit a large enough percentage to destroy the confidence of the population.  

Buy gold because it makes you feel safer, not because you think tungsten filled bars are everywhere.

Wed, 12/19/2012 - 11:58 | 3078774 fuu
fuu's picture

I wrote a song for you but you weren't around long enough to appreciate it.

Max Fischer's Theme:

Wed, 12/19/2012 - 12:27 | 3078895 Element
Element's picture

Nope, look at the early 1980s, gold skyrocketed when Savings and Loan crisis/problem/fraud-scandle got rolling.

When you have financial uncertainly and Fiat questionability, gold is going to be on a rising trend.

Nothing has been resolved, but instead made increasingly more supportive of NET rising trend in PMs. Gold may fall back, of course it will, but the trend is going to be NET upwards, while QE and CB printing to save the 'financial' fraud system remains in place, as the fiat is debased.

Wed, 12/19/2012 - 12:46 | 3078981 tmosley
tmosley's picture

>Implying silver investors aren't used to 60% "no reason" drops.

Wed, 12/19/2012 - 12:50 | 3079013 Silver Bully
Silver Bully's picture

"Seems like everyone over at TFmetals is on suicide watch. "

Correct, because that site started out as a precious metals trading news site. Despite the forums and protests otherwise, Turd's site has always been primarily focused on metals trading. If his viewers were truly concerned with 'buying gold and silver as insurance' NO ONE would be wailing and gnashing their teeth like they are this week. It would be a moot point. Turd's problem is he's trying to sell a trading service, and his prognostications have been WILDLY, REPEATEDLY off the mark, short term. Its no wonder the trolls are having a field day - they're traders looking for good info to make a buck on, not buy 'insurance'.

Still, he offers good commentary on the market and he has kitco's prices listed, so its an easy bookmark.

That said, when a retail market gets this publicly distraught, that seems like a basic contrarian indicator.

Wed, 12/19/2012 - 13:54 | 3079366 Bohm Squad
Bohm Squad's picture

Meanwhile on Ebay, physical silver still selling for $38-$40 per ounce delivered....

I believe the word missing from your post Max is "decoupling"...but what's a 25% premium for physical over paper between friends?

Wed, 12/19/2012 - 11:50 | 3078732 AvoidingTaxation
AvoidingTaxation's picture

A new Banzai is born?

Wed, 12/19/2012 - 10:56 | 3078502 Lohn Jocke
Lohn Jocke's picture

Monopoly money is increasing in value and printers too busy pumping out USD.

Wed, 12/19/2012 - 11:03 | 3078537 somecallmetimmah
somecallmetimmah's picture

Dumping it in a slot machine might be a better investment.  If you waited thru two Obama elections  & Joe Biden's  designation as 'Gun Tsar' to buy a firearm, don't even bother.

Wed, 12/19/2012 - 10:48 | 3078440 Eireann go Brach
Eireann go Brach's picture

Could someone explain why this happens at the opening all the time?

Wed, 12/19/2012 - 11:10 | 3078578 somecallmetimmah
somecallmetimmah's picture

Markets open, the daily news cycle starts, the 'light turns green' & something changes.

Wed, 12/19/2012 - 10:50 | 3078455 slaughterer
slaughterer's picture

Warned about this PM sell-off last week.  I hope at least one of you is also shorting it.  

Wed, 12/19/2012 - 10:53 | 3078474 WhiteNight123129
WhiteNight123129's picture

SHorting the treasuries, and having some fun.

Wed, 12/19/2012 - 10:56 | 3078496 The Axe
The Axe's picture

Maybe you should show those Asia sessions...2 or 3 down 30 dollar deals   Gold is cracking  

Wed, 12/19/2012 - 10:58 | 3078506 Spastica Rex
Spastica Rex's picture

Yep - good call!

Wed, 12/19/2012 - 10:58 | 3078510 Short Memories
Short Memories's picture

nope! only touch physical and to short it is to lose it :)

Wed, 12/19/2012 - 10:59 | 3078514 ssp2s
ssp2s's picture

With Japan beginning to print in earnest, they have to keep PMs in check.  I'd say it is time to straddle.

Wed, 12/19/2012 - 10:56 | 3078497 Alpo for Granny
Alpo for Granny's picture

I would love to see a Santelli rant on CNBS about the blatant manipulation in the precious metal market. I would also love a stable full of skittle shitting unicorns.

Wed, 12/19/2012 - 11:18 | 3078601 azzhatter
azzhatter's picture

I do know where my metals are, sitting right next to me

Wed, 12/19/2012 - 13:33 | 3079230 BoNeSxxx
BoNeSxxx's picture

You are a lucky man... 

I lost mine.  Last time I saw them they were in my tackle box.

Wed, 12/19/2012 - 12:54 | 3079026 Lin S
Lin S's picture

I am thinking about buying from APMEX, but want to ask you guys about it first.

If I buy from them, can't .gov track my purchases at a future date if they choose to do so?

Should I avoid gold maple leaf and Kruggerands since they are reportable?

Thanks for any info/help...



Wed, 12/19/2012 - 13:45 | 3079307 Moronicgenius
Moronicgenius's picture

I don't own any PMs myself, but someone told me you should make friends with a local dealer, see if they'll do a cash deal, off the books of course.

Wed, 12/19/2012 - 14:51 | 3079621 BoNeSxxx
BoNeSxxx's picture

Reporting changes happen fast.

eBay sometimes has good buys.  Also, I have had luck at local auctions and gun shows... lots of PMs avaiable for $$$ and no trail.

Wed, 12/19/2012 - 15:04 | 3079661 Esso
Esso's picture

You might want to look here:

Personally, American coins make me a little nervous. If TSHTF, they could declare them US property or something, and make possession illegal. Who knows? Also the no reporting requirements on Eagles could be erased at a whim.

Disclaimer: I've got no skin in the game. All my gold, silver and guns were lost when my plane crashed into the ocean. I think I was flying over the Marianas Trench at the time.

Wed, 12/19/2012 - 15:15 | 3079740 Lin S
Lin S's picture

Thanks for the information, guys.  I sincerely appreciate your help!

Wed, 12/19/2012 - 10:44 | 3078415 Theta_Burn
Theta_Burn's picture

Unlimited printing spree in Japan....ans soon to be unlimited in the US...this completely makes sence

Wed, 12/19/2012 - 11:25 | 3078630 GittyUP
GittyUP's picture

Printing doesnt always equal dollar devaluing.  If you understand how money gets destroyed during deflation you would understand how printing doesnt always increase the total fiat available. 

Of course its a slippery slope and could lead to massive inflation and devaluation.  My point is its not as simple as "they are printing so the dollar must be worth less!"

Wed, 12/19/2012 - 11:58 | 3078778 yrbmegr
yrbmegr's picture

Correct.  Inflation is caused by an excess of purchasing power, in all its forms.  Fiat is one among many forms of purchasing power.

Wed, 12/19/2012 - 10:46 | 3078420 achmachat
achmachat's picture

sorry guys,

we're out of the real thing.

better luck next time!

Wed, 12/19/2012 - 10:49 | 3078448 semperfi
semperfi's picture

tungsten still in stock

Wed, 12/19/2012 - 16:32 | 3080054 Panafrican Funk...
Panafrican Funktron Robot's picture

Tungsten is actually in very short supply. 

Wed, 12/19/2012 - 10:45 | 3078423 malikai
malikai's picture

It's always a good time to sell shitloads of gold and silver contracts. But it's a better time at the open.

Wed, 12/19/2012 - 10:46 | 3078425 HoofHearted
HoofHearted's picture

With JPM and Citi, naked as can be.

Wed, 12/19/2012 - 10:50 | 3078458 GMadScientist
GMadScientist's picture

Some find it difficult to estimate exactly how much of each commodity they don't have.

Wed, 12/19/2012 - 12:43 | 3078974 youngman
youngman's picture

I have been watching the Comex and a lot of the metals are leaving the JPM wonders...

Wed, 12/19/2012 - 10:45 | 3078428 imaginalis
imaginalis's picture

Sell orders of phantom gold and silver

Wed, 12/19/2012 - 10:46 | 3078430 Silver Garbage Man
Silver Garbage Man's picture

This will go on till the physical is gone.

Wed, 12/19/2012 - 10:46 | 3078431 Comay Mierda
Comay Mierda's picture

how is spot price determined?  i keep reading articles of how the US mint is selling out of PMs then I watch the markets and they are getting slammed.

Wed, 12/19/2012 - 10:52 | 3078469 agent default
agent default's picture

They don't sell metal.  They sell futures which are again bought by the issuers when near maturity, because most of the market participants are on margin and don't really want the metal anyway. It's a scam driven by the market makers and greedy and stupid as fuck speculators who lever themselves to hell and as a result put automatic stop losses very close to their entry price.  It takes minimum effort to trigger a sell off under these conditions.

Wed, 12/19/2012 - 10:46 | 3078432 unwashedmass
unwashedmass's picture


have to say, this is one of the best christmas presents ever.........thank you ben for the red carpet ride out of the looming dollar meltdown....

thank you with all of my heart......

Wed, 12/19/2012 - 10:46 | 3078433 Jason T
Jason T's picture

Armstrong has been pounding the table that gold is not ready to break out.. but it will.  April 2013 could be turning point.  

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