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Massive Sell Order Takes Out Gold Bidstack, Sends Metal To Three Month Lows
In what world is it rational to decide that dumping 800,000 ounces of notional gold into the London Fix (or COMEX open) makes sense? In the space of 4 minutes, almost 2 million ounces notional were flushed into the gold futures markets dumping the price of gold to 3-month lows.
This is the 4th down-day in a row and yet another "spike" around the open/close that regulators remains ignorant of.
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GORO"s dividend is now 6.6%
better than JPM -- and with more "solid assets".
better than treasuries.
Perhaps the algos found out about the Hudes secret gold stash in Hawaii.
Do algos watch RT?
Yeah, wtf do you make of that? The Bank of Hawaii has 170k tonnes, huh?
She makes a plausible case for systemic corruption at the World Bank, and tops it off with that little bit about Hawaii.. Is it all just noise?
$1265 is that the best they can do? Those of us who bought at $450 are still laughing.
What about the ones that bought at $500, are they slightly more concerned?
I doubt it. I'm not.
How about those who bought it at $1,500? (I think there is a lot more of them).
Nope, us late-comers to the party aren't sweating it either. Unless you mean my counting the hours til the shop opens in the morning and hoping the rebound spike doesn't happen before then. The unadvertised sale began at 08:30 EST..
Not if they only bought with their excess cash. Being debt free, I can watch it go to zero and maybe raise an eyebrow.
Not worried. It's insurance in case everything goes to hell. I'm more worried about everything going to hell than how much gold is worth right now.
From here on I put 5% of my yearly savings into gold.
Myself included.
They need to hang tough and bear it out. We've all seen plenty of times when AU spiked up $50-60 in an afternoon. It will do so again, and with a vengeance
First purchase at $1900. No regrets.
We'll see who laughs last.
Bull....I'm a long term gold buyer, but I still don't like the fact that $700 worth of buying power has been knocked off in the past year.
I didn't buy to make money. An ounce of AU will still buy more today than it did in 2002. It's all relative.
yes indeed. still also enjoying my five dollar silver.
This is PAPER gold folks.. the market is telling us that it is more worthless today than yesterday... If anyone can buy and take physical gold at these prices in exchange for physical cash... please let me know.
You can, and silver too. I know people who buying selling at these levels, and in size.
:)
When it is TPTB that is corrupt it isn't corruption........
....not until the edifice collapses and those corrupt who thought they did these things in complete safety find themsleves being strung up on the streets.
So the clever little boys dropping 800,000 oz of gold in a few minutes, will also have his few minutes on the street swinging in the breeze.
The greater the corruption, the greater the retribution. These guys better start thinking about the end game that isn't too far away now and how they are going to be thrown under a bus by their masters.
Hanging is too good for the likes of them. Our forebears would have tarred and feathered them, paraded their feathered asses through town on foot for the garbage and rock toss, then hung them.
Grandpa was a mean sumbitch. We should learn from him.
Sorry, but your scenario will not play out that way. You see, these people are unknown to 99.5% of the public. Like 1945 Nazis, they will simply change clothes, and melt into the masses, masquerading as one of the disgruntled {the one's that haven't left the country, like the other 1945 Nazis}.
Don't fight them; just short the h*ll out of gold, silver and miners and make money off their games.
Keep it up fuckers, I'd like to buy at $5.
That would be Biblical prices!
They can sell it if they don't want it. Although if they had been smart about it and not sold it all in one chunk they could have made another 16 million. Had they spent another hour spreading it out they could have made some bank.
no these massive sells are signs of panic, they don't have the luxury of time. Also taking a meat ax is supposed to send a message to the markest -- they are the great and powerful oz (with no clothes on)......
What a great buy physical opportunity. Thx jpm/fed.
China,Inda,Central Banks around the globe keep buying going down so I'll keep saving in gold and silver.It's a long term trade not a short,get rich quick type of deal.You've got to have vision and stay strong in your belief for the future.Your a minority in America if you believe.
They did not only sell a lot of gold, but also a lot of silver, platinum and palladium too if I may believe al those charts
Hit was on gold. All other PM markets look dragged down by the event. Silver fluctuation is usually gold x2. This looks 1:1. It's an attack on gold and possibly other metals, but the focus is gold.
BS That is logic like when Microsoft stock goes down Apple and IBM will go down the same ammount.
Who is in charge IBM or Microsoft? Who sets(breaks) the standards. Take a look at history. And since you throw Apple in the mix: Apple on the desktop is irrelevant. Microsoft is the desktop market. You are typing your message on a Windows machine, running on x86 because Microsoft declined to support anything else and Linux fucked up beyond belief a few years ago.
Nevermind you are completly missing my point
Yeah. You are right.
The Dow Jones Industrials, which represents a sector of the market, when it declines it just does NOT represent an entire sector of a Market in decline. The Dow Jones Transportation Index, when it declines, just does not represent and entire Market Sector in Decline.
We need to learn to IGNORE that information as there is absolutely NO CORRELATION between Companies and the Sectors of the Markets that they are part of. I mean that everything is ENTIRELY and ABSOLUTELY INDEPENDENT from anything else.
/sarcasm
That is such absolutist Black and White thinking.
What have you been smoking this morning?
There is a famous Dr who says to ''buy PM's until you cant buy them anymore''........
My guess is someone is shorting the HUI and selling gold futures to hammer the HUI down!
I am sure the CFTC will be all over it with a 8 year investigation (/S)
More buying opportunities, that's all. Folks waiting on the sidelines for a good low price to buy in can now feel comfortable grabbing the ounces they could not afford before.
http://stream1.gifsoup.com/view3/3349796/whac-a-mole-o.gif
At least copper is up a couple of cents.
India gold premiums jump to 30-40 an oz vs 5-7 last week--supply shortage. ---FXWire Commodities.
And this is only the start of a major USD move that will crash metals. Oh my gold.
Well, IMO, this in a nutshell...Dollar creator has some political budget problems, uncertainty abounds, banks have stated "end is nigh, if no budget", in the meantime what to do? Gold moves against dollar in reality, paper gold dictates reality. Dollar is GOOD, when gold is bad. Stack physical, if you like gold. That is all.
How does this all relate to the fact that US and Swiss exported the largest ever amount, 300 tonnes, to HK in August. Follow up: At what point should one be concerned that the US and Swiss just exported the largest amount ever to HK in August? Second time I've said this today already: Something seems askew.
thought the idea of gold was a store of value, when deflation makes a move it would be due to forced selling to raise cash so assets in hand will fall in price. shortly after the big plunge in gold stocks and bonds , will come the realization that everyone holding assets backed by someone else's solvency such as stocks, bonds, the US TAXPAYER Will be very much devalued while gold will be good as gold
"In what world is it rational ...".I ask myself the same question about you Tyler, with your left-wing, anti-West, anti-Zionist outlook.
> anti-West, anti-Zionist
You dont see the contradiction, do you?
Good goy!
We TEA Partiers do not have left wings. We shoot them off.
WTF? Do you have any clue what you're talking about, or are you just a special kind of stupid?
Obviously, you've never taken Econ 101. According to my PhD professor, "In the mind of an economist, EVERY decision everyone makes is always rational. We assume everyone performs a cost/benefit analysis for every decision made, therefore, every decision at the time it is made is rational."
My head nearly exploded upon hearing this... but then I had to remember the mantra of the economist, which I was informed of on my first day "Economists don't look at reality because it's too complex, instead we make simplified models..."
Of course, the professor believes if everyone took economics, the world would be a much better place...
At this point who in the world buys PAPER?
/sincerely
PT Barnum
the manipulators would buy paper to cover their naked shorts ...
... and they would do that for a profit.
/sincerely
they're pouncing on it again.
Old Yellen's master is preparing to fill the banks' coffers with cash to stem a run that will occur once we default.
http://m.metrolyrics.com/broken-crown-lyrics-mumford-sons.html
Just wait a whilöe and we will see the same in equities. First they have to go moar ballistic than they have aleady done, and everything os offloaded into retail owners. Then We'll see the same there
"In what world is it rational to decide that dumping 800,000 ounces of notional gold into the London Fix (or COMEX open) makes sense?"
needing to get out of a levered profit position to cover an even larger levered loss margin call?
:)
Or when you are front running the even-bigger dump which you expect next week...
When Goldman is buying gold, you better sell it to them.
If you can remember only one thing, it should be this: The US Gubmint is NEVER going to get it's finances in order, NEVER. It has long passed the point of no return. The only way out for them is to INFLATE THE DEBT DOWN WITH CHEAPER DOLLARS. Like Porky Pig used to say:"That's all folks!" I don't care about there manipulation games, or what the price of gold is today, or tomorrow either. I know the endgame. It is like having read the book first, then later going to see the movie. You already know how it is going to end. Consider this a gift and buy more. If it goes lower still, just buy some more. Keep stacking.
True, it's just that it can take a long time as at the moment most of the printed money is sitting in banks, who are not creating loans, or the "inflation" is exported abroad and so it's a matter of waiting IMHO
How about this one:
As more and more people see that "paper" gold stinks and holding physical is the move to make and that the ultimate move will be up, ergo: people wake up, there will be less and less people buying the paper. As there's less and less people buying the paper, the amount of bids on paper will decline and decline and so it will be easier and easier to drop the price of gold by TPTB.
THoughts?