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Furious Gold Slamdown Leads To Yet Another 20 Second Gold Market Halt
What do the following dates have in common: September 12, October 11 and now, November 20? These are all days in which there was a forced gold slamdown so furious, it triggered a "stop logic" event on the CME resulting in a trading halt of the precious commodity. In today's case gold trading was halted for a whopping 20 seconds as the market tried to "reliquify" itself following what was a clear attempt to reprice the gold (and silver) complex lower. Needless to say, there was absolutely no news once again to drive the move. Ironically, this comes just as the London regulator is launching an investigation into London gold benchmark manipulation - we are, however, confident that all these glaringly obvious manipulative events that take places just around the London AM fix will be routinely ignored. After all it is perfectly normal for someone to dump 1500 GC contracts in one trade and suck up all the liquidity from the market with zero regard slippage costs, or getting the best execution price possible. Well, it's normal if that someone is the Bank of International Settlements.
Since there is nothing new in the narrative, here is what we said last time this event happened just over a month ago:
What is Stop Logic? Basically, it is a the mother of all stop hunts, which takes out the entire bid stack and continues until such time as there is absolutely no liquidity left in the entire market! From the CME:
Stop Logic detects potential market movements caused by the triggering and trading of Stop orders where the resulting price move would extend beyond an exchange specified threshold.
The triggering of Stop orders can potentially exaggerate price movements in temporarily illiquid markets. When triggered Stop orders attempt to move the market to an executing price beyond a pre-established value, a Stop Logic event occurs. Stop Logic detects these situations and responds by placing the identified market in a Reserved state for a predetermined period of time, usually 5 to 10 seconds, depending on the instrument. During the Reserve period, new orders are accepted and an Indicative Opening Price (IOP) is published, but trades do not occur until the Reserve period expires, thereby providing an opportunity for participants to respond to the demand for liquidity. At the end of the Reserve period, the instrument will re-open and matching will resume.
When a futures contract designated as a lead month contract experiences a STOP Logic event, associated options markets are paused and Mass Quotes canceled.
Stop Logic will not prevent markets from ultimately moving in the direction of the order flow, but allows time for liquidity to enter the market so that new orders can be matched against the triggered stop order(s).
Of course, the liquidity we re-enter at a time when the prevailing price has been reset substantially lower on what is basically a "banging the open" type of event, or in this case market open, when one or more traders attempt to generate the well-known "momentum ignition" event so known to HFT algo manipulators everywhere.
Most indicative is that this is taking place less than 24 hours after the FSA announced it was investigating precisely this kind of gold manipulation. What's the saying... "in your face"?
And, as usual, capturing this moment of epic manipulative smackdownness which took place precisely at 6:26:40, here is Nanex showing both the 20 second trading halt and the evaporation of all liquidity following the forced sell of 1500 GC contracts pushing the price of gold over $10 lower.
1. December 2013 Gold (GC) Futures Trades.
1b. December 2013 Gold (GC) Futures Trades - Zoom 1.
1c. December 2013 Gold (GC) Futures Trades - Zoom 2.
The 20 second halt shows up clearly.
2. December 2013 Gold (GC) Futures Quotes.
2b. December 2013 Gold (GC) Futures Quotes. Zoom 1
2c. December 2013 Gold (GC) Futures Quotes - Zoom 2.
3. December 2013 Gold (GC) Futures Depth of Book
3b. December 2013 Gold (GC) Futures Depth of Book - Zoom.
»
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Hi jimmytorpedo,
Same here. But then I remember to question, how and what exactly do I measure my net worth in? The promises of politicians? NO!
I recommend that you do not try and measure your net worth in a type of money that is only backed by the promises of politicians. Just my recommendation.
Cheers m8
That's because you're still measuring net worth in intangible dollars rather than tangibles like bullets, cans of food, ounces of gold or silver, etc.
Agreed. With the unlimited ability to print paper, and the leveraged ability of both paper and paper gold, it allows for unlimited manipulation. When one player uses up their physical, it will be the role of the others to use theirs. And the game will continue, with CB selling to each other....
And since Russia and more importantly China want to be world currency players, they will do their role to keep the fiat up and running.
This is not just a war against the dollar, it is against all fiet, including the SDR basket....
Agreed. I think the Chinese and US have a deal. We'll keep the price of gold down and you don't dump USTs. We are essentially compensating them for their losses on USTs by allowing them a below market entry point on gold.
This won't end until the Chinese says it ends or there's no more physical to be had.
"or there's no more physical to be had."
How is that possible when the chinese can just sell their gold?
It just goes on and on.... China is just as motivated to keep the fiat going as the US, maybe more...
If the "new world order" which is really an old world order can get china and russia fully integrated (and fully invested in the benefits of the fiat game) into the system in time and get the SDR moving then gold manipulation can continue indefinitely if they are careful not to let money supply get too far ahead.
I dont think they can change mercantilist nationalism in russia and china in time.
I believe gold still wins by 2020
You can't continue to seperate the have's from the have nots for 7 more years. We are somewhat insulated as we have some wealth, the poor are about to fuck everyones day up. They will kill it all with FIRE !
Not sure how gold will benefit but the gamble is worth it to me. I will never go on a virtual currency, I use cash and labor atm while stock piling the little gold/silver I can afford..3 to 1 in $ cost
Gold is best imo because you can travel with it, blend in with the masses.
Real question, how much of a trouble is it to travel with? I am thinking the 10K disclosure limit? Or do you just tell them, I have 20K in gold with me....?
By the time one must leave the country, I think the borders would be very porous and millions will be crossing at will on foot.
Gold comes out of the ground and that is where is should stay. Traveling with gold is meant for one reason, to find a new hiding spot.
Nuclear war. Global pandemic of a deadly virus. Military coup.
Yoikes, option D please....
Fukushima - careful what you ask for!
Re; Any ideas?
You state with certainty that this will continue until collapse. Your answer is in your own belief that this is a possible future. If/when there is collapse, Gold will indeed be king... for a day. Soon to be replaced by food. Consider the full ramafications of your of beliefs.
Yes I have an idea.
How 'bout a major war in Lebanon, Egypt, Israel, Syria, Jordan, Turkey, Iraq, Iran, Libya, Saudi Arabia with Russia and the U.S. as the host(s)?
Starting on or about the New Year!
when they arrrrrrive(china), you will know
It is almost humorous time after time. It does introduce volatility, but any real gold person can see what it is and they talk to the sheeple.....
was on my broker's site but couldn't find the market order for going long immediately after a Stop Logic event in the gold market. What gives?
There is a big club. They make a lot of money.
You weren't invited to join.
They also owe a lot of gold to the BOE and the Fed.
What's the saying... "in your face"?
More like, "In your face, Bitchez!!!"
The cheaper it gets the more I can pile it up. Why stop the downfall today when the advantage of it is so obvious?
Slam dunking.
On standby to pull the trigger, but NOT yet!
here we go again
Attempted Gold "Flushdown":
http://news.sky.com/story/1171181/gold-bars-worth-620k-found-in-plane-toilet
Oh yeah.....it's all coming back to me now.
I'll just take those back......and no.....I don't feel like answering any questions right now.
Bernanke ? Is that you?
Keep stacking and await the day the ask stacks are cleaned out due to demand at any price.
How do you get control of gold mines? Slam down the price to below cost of mining. Mine shuts and/or owners panic and sell. More mines controlled...easier it is to control price, output, availability, etc..
Bankers would never run a gold mine. They may have that fantasy planned, but in practice, they will merely ruin parts of the industry not able to capture the big physical premiums outside of the paper system. Their mines are sovereign vaults. It is a good way to clean out the fakers, like Carlos Slim, who have no real mines, but claim to mines in order to facilitate better margin on the paper exchanges for their trading. Also the assorted liars and adventurers with some claim on a piece of dirt hoping a high paper price will get them a deal will disappear. You need production and access to real buyers. Access to Wall Street and London gets you nothing but cheap supply. You are better off mining the Western Central banks right now than digging a hole. It is cheaper.
Quinvarious is dead on - Bankers AND Hedge Funds are quickly finding out they can not handle and operation as simple as renting a house out, much less take on a significantly more complex and dangerous operation such as running an actual mine.
Would certainly be a shame for Jamie D to be touring one of his JPM mines and have a cave-in, explosion or anything like that ....
China is interested in buying gold mines on the cheap. They are also the main beneficiaries of lower gold prices. They sell paper and buy physical. Then, they will buy whole mines. http://www.zerohedge.com/news/2013-09-23/start-chinas-gold-miner-buying-spree
Agree Quin. Why work for "precious" thats too effortful when it's much easier and more in their "wheelhouse" of skill and expertise just to steal it?
@papaswamp
' how do you get control of goldmines? '
with a private army of gunslingers!
same for the control of the poppy fields in afgani and the coco plantations in peru & columbia.
Lol. Why is everyone so angry about PMs getting hammered lower? I'm loving it. This 2-yr. correction has been a blast. I'm personally hoping for $1000 gold and $12 silver, but that's not stopping me from these delicious bargains. Everywhere you look everything is at multiyear highs except the PMs. Lol. They're a screaming buy.
Gold-Dow 1:1. It's coming. And if you had any doubt that it would closer to the 10,000 figure than the 1000 figure, look no further than QEI. Gold 10,000... silver 250. Entirely feasible within the next 10 years. I look forward to it.
Until then, I love these smack downs. Every time I go into buy I feel like I'm getting away with theft.
Yes Sir, Hows that old adage go...
When everyone is selling, its time to Buy!
The cure for low prices, is low prices.
Zyklon-B (ZYB) futures are spiking in the other direction...
(ZYB) has had a hostile takeover by (ACA)
Why don't they just get to zero dollars an ounce right now? Waiting .......
But Silver still won't drop below $20.
I believe silver will drop well below $20 OZ, heading towards $15 an OZ. Look at the past three years in PM pricing. Today's price action is just a set up in a series of small take down for a big one coming from Mid to the end of December. This has been happening every year. PM's get drunken-monkey hammered in Dec and Jan, then start to rebound in late Feb and March.
Keep some dry powder to buy yourself and your next generation some PM's once the "SALE" begins in December...
I hate to say it Dirk but you might be correct. It didn't used to be that way though. Historically, November and December were very strong months for PMs because of the holiday season.(think jewelry) I have been in metals for 15 years and made a killing by buying in October. These days, there is no market. I have to sit and hold which is fine too, for now, but it limits the market participants.
Let's be honest about the PM markets, if they, meaning central banks, ever let the PM market actually become a market again the banks will be fucked and exposed for the frauds they all are. They know it, I know it and you know it. These fucks do not care how many fiats they "lose" in the process or shorting the fuck out of the CME because they can simply print MOAR aka the titanium zero key.
They all act in concert to ruin my investment portfolio but they seem have a lot of trouble shorting two other metals I collect: Copper and lead. Margin call me on those boyz? You will get delivery at 3000 FPS.
no.
gold = 989.91 USD / t.oz ?
no.
That's the match up for silver=15
silver = 4.86 x e(gold x 1.1385 / 1000)
for maples, eagles & bars, no.
For spot, already has today in USD.
Guys, there's little to stop these fuckers taking Gold all the way down to $1000 and maybe even $900. Make no bones about it -THEY ARE IN CONTROL and it doesn't matter who's buying the physical.
They will remain in short control till they FLIP to the long side. When will they FLIP? When a) ALL the weak longs have been forced out, and b) the majority of market partipants (egged on by the media) claim there is now NO FUTURE FOR GOLD (as its past 3-4 years trading pattern confirms).
So if you're unsure about Gold I'd get out now because you're weak and they're AFTER YOU. However, if you believe in the metal, if you believe it will have its day again then either hold on or increase your holdings by say buying at every $50 lower.
Personally I'm long (with no margin) and am looking to buy at every $50 lower.
#1 someone has to have money to buy the other side of the trade
#2 someone has to WANT that more than physical gold.
That's a hard limit. 900 is impossible. 1000 is impossible. 1100 I'd say is about 5% possible.
1200 is about 50% possible.
RAID on Gold/Silver Bugs. They manufacture RAID by the tankful. I sold at 1835 (most, not all). I see this manipulation going past my lifetime, I'm not jumping in until 900, and it will get there fellas.
My crystal ball is a bit fuzzier. Can you really wait for the one month that gold hits low 900, then go all in?
Psychologically that is hard. This is a good place to dollar cost average for the patient accumulator.
Brave man...There might come a day, Paper gold can go to $0 and you still won't be able to purchase physical gold at any FRN price. Using gold to make FRNs is pointless... I purchase physical gold to keep wealth outside the system. I care not of its price in FRNs.
Indeed, for the true worth of the FRN is ???
David Morgan: "China, Russia, India Have An Insatiable Appetite For Gold"
All games with Gold price manipulation have lead to two most significant outcomes for the Supply and Demand in the Gold market this year. China, Turkey and Thailand are all buying the record amount of Gold and pushing demand through the roof. Brazil and others are joining the club as well or consume all the gold produced like Russia.We can safely add India here even with all efforts to curb the official demand by the Central Bank, amount of smuggling is hardly controlled by the government there."http://sufiy.blogspot.co.uk/2013/11/david-morgan-china-russia-india-have...
While fiat money changes online into fiat gold, the real gold is going where it is supposed to go: being smuggled into India.
http://abcnews.go.com/Weird/wireStory/india-gold-bars-worth-1m-found-pla...
When GLD and Phys start going in opposite directions, then you will know there is noowhere to run but to physical. Right now, the investigation into manipulation is just preliminary which indicates the right people haven't been bought off yet or they are hoping to get more contract selloffs to buttress their investigation, the latter is more likely. IMO
http://seekingalpha.com/currents/post/1421351
They know that any punishment is going to be either non-existent or miniscule so why not in your face manipulate as usual.
China certainly won't complain as it scoops the rewards, it knows very wisely that if an enemy is destroying itself, all it has to do is sit back and watch
FUCK GOLD........ Pu @ $4,000.00 @ gram
All the best with cancer treatment
$4,000.00 @ gram
Almost worth it's weight in Adrenochrome.
If you're looking to sell some....I hear Al Gore is always looking.
Very little being rolled out to February. The shorts are sticking with the Decemberrrr futures with first delivery one week away, wild behavior.
http://img89.imageshack.us/img89/6407/5q1g.png
Delivery?
Not a hope in hell of that
Don't you think JPM got wind of this investigation way before you all?
We have to stop allowing a pure paper market to dictate the physical market, sprott and others say they're baffled, why don't you force the comex to stand and deliver and we shall see how much longer this charade continues.
would a manufacturer allow his competitor to dictate the value of his product by writing it down on a piece of paper and broadcasting it to the world. Why aren't the mining companies saying anything? they should be fired for breach of fiduciary duty.
Don't worry about it. Just let Asian and ME, etc demand for physical sort this out.
The price of Gold must be supressed at all cost, It absolutly cannot be allowed to reach it's true market value. Gold is the Kryptonite to the U.S. dollars actual worth. A "true" value of Gold would show the "true" value of the dollar.
The truth is often very ugly.
In all of this , that point still has me the most baffled, perhaps I don't understand enough. Why arent the miners screaming bloody murder here? Would Walmart not attempt to litigate if .gov imposed price controls on the goods they shill?
there's no mechanism to force it.
Cash settlement is a requirement if ordered.
These halts actually are making it much harder to game gold. All the seller is doing is disrupting market structure trying to get a period of milliseconds where there are no bids available so they can pound away. They really can't afford these market halts allowing the electronic bids to refresh. I mean, they made what? $7? And they risked how many much on leverage? 200 million? They have not adjusted to the new market conditions yet. They are still running old algos. And I am totally shocked they did not get more. I have been watching them set this up for two days in the paper markets, and this is after they tried to set up a week ago and failed. They would have been able to get $20 easy back in the day. But now they have to expend margin and grind for it. It isn't worth it.
.
But silver seems to be getting a pass today? Only down $0.03 as I write whilst AU is in the woodshed.
they usually fall together and rise together. So what gives?
looks in line to me.
silver = 4.86 x e(gold x 1.1385 / 1000) = 20.02
actual = 19.96
difference: 6 pennies
expected variance: +/- 7% max, typical 3%
today's variance: 0.32 % at this moment 14:52 Eastern reading http://goldprice.org/spot-gold.html
Gold won't skyrocket again until the funny money train starts to derail.
It bottomed at the century mark and then climbed rapidly through the financial crisis. It was clearly a safe haven investment for those 8 years or so.
QE changed all of that. The game now is to ride the QE train for maximum returns until it derails, then, if your timing is good, jump to gold.
Of course, when that happens, then they'll come for the gold - have zero doubt about that, because when they can't get value from you from worthless paper, they'll get it from hard assets.
until the funny money train starts to derail.
Ummmm...........never mind.
They had a good try of it to slam this down. Looks like some solid support there though to catch it if it goes past a few % down.
When gold was "going parabolic" up until 2012, and looked much like the current charts of S&P 500, DJIA, BTC, etc., everyone said (ZH'ers excluded for the purpose of this comparison), that gold was in a bubble, the growth couldn't be sustained, what goes up..., and all that pre-self-enforced reality. Now, when the equity markets, CDO's and other Wall Street esoteric inventions are showing identical or nearly-identical charts, we hear that the market has far to run, sucker 'em in boyz, we can vacuum up ALL the money!
http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx
http://1.bp.blogspot.com/-QMceZ5laOjY/TfeUQ2FO4iI/AAAAAAAAIbw/GX23xA6SSu...
http://static.seekingalpha.com/uploads/2011/6/10/942378-130773832594621-...
Gold's correction looks a lot like me to equity charts from 1987, 1997 and 2009 (wishful thinking). What I remember from those events was that Los Puercos de London, Wall. St. and (as it turns out) Asia, stepped right in to buy everything up. Subsequently, the markets went on to new heights. The interesting thing about the Enron collapse is who bought what at the bottom. KPMG, Arthur Andersen, Riggs Bank, and a handful of influential less-known Washington DC banks and accounting houses, as well as numerous commodity and credit houses, were all bought on the cheap at the bottom. Since that time, those purchasers have used their winnings to corrupt the entire system well beyond how corrupt it already was before the Enron collapse.
The inescapabable conclusion is that these guys are hell-bent on destroying the Bill of Rights, the US Constitution, and returning the world's population to slavery and serfdom. Either that, or they are so orgasmically stupid with their ill-gotten gains that they fail to see the looming abyss. I'm not sure about the stupiidity-so many of them earned masters degrees and doctorates that the suggestion fails. This concentration of wealth, engineered at the expense of humanity, can only be considered to be deliberate.
I figure that we will soon see a massive correction in equities, on the order of the other massive crashes of the past 30 years. When the smoke clears, these chaps (if not taken out by their own HFT's), will be in a position to make Walmart look benevolent. They will own it all.
Whatever are we going to do about it?
Parabolic? It was a double over the course of 30 years at its most recent peak. The parabolic part has not happened yet.
Gold $300 to $1800... Double? Just saying. I like Gold, like it better the lower it goes too.
I admit an incomplete choice of charts. The parabola, so far as I can see it, may reflect more of how much air has been pumped into a 16000 DJIA-if this had happened in a 'normal' market, we would have a rennaissance in the global economy. One might suppose that such a phenom would be self-sustaining, or at least supportive of growth. The trouble with this market is that the 'growth' is all pumped-in FIAT cash coming from one basic source. No sustainable business model would suggest that you hang your business' future on a single client, since that sort of thing exposes one to the fate of that client; a forever dilemma for manufacturers if ever there was one, but a dilemma just the same. The Twitters of the world are like the financial services, advertising and lobbying industries - they consume vast amounts of talent and money, but produce nothing of any intrinsic value. Sooner or later the markets are saturated, and the beast begins to burn up from inside. We have a great deal of that sort of thing these days - orders of magnitude more paper than materiel. Without constant growth, this is not sustainable - an idea supported by Kondratieff Theory and others.
Building the Global Village had to happen, but its just a Wild West show for now: there is no rule of law because no uniform laws govern global trade , taxation or anything else. The sheriff in each territory rules however he pleases. The general population is set upon by bandits and murderers, without access to due process. Gangs rule the roost until the Cavalry comes along. Our troubles are: no cavalry, the sheriffs are schmucks, and the 'rulemakers' are whores. Bad setup.
Remember game-plan Poland? No allies arrived to make good on treaties. Divided between two psychopathic regimes. Liquidate the bourgeois and kulaks, extinguish the nobles and priests and intelligensia, murder the high military caste. Katyn. "Poliakam, panam, obakam...sobachaia smert!"
Newest variant of oldest ploy? Operation Vernichtung. "Let Chaos Flourish". Fill the nation with sycophants and corruption in high office to eat out the substance, install an anti-terrorist apparatus designed really to instill terror and subjugate populace, direct military to far regions to plunder while proclaiming mission as "extending liberty and open gov't". Demoralize the bourgeois with variable application of law, destroy culture with vulgarity and gutter intelligence, fill all productive outlets with hurdles to merit, bureaucratic stall tactics and gold-bricking and unsound money. Make the highest offices targets of scorn, viewed only as pillars of incompetence. Sow internal conflict pitting group against group, the reverse of weak staves bound as one unit of great strength. Scatter the fasces and break them one at a time. Tear out stars and white stripes, leaving only the red. Dyed or soaked in staunching bloody liberty--sopping ink from the nation's balance sheet. Then sieve the remainder for suitable "mules". Bring in the EinigungsPrufer. Phenol syringe for the remainder.
And they sing, "Blest with vict'ry and peace, may the Heav'n rescued land
Praise the Power that hath made and preserved us a nation!
Then conquer we must, when our cause it is just,
And this be our motto: "In God is our trust."
And the star-spangled banner in triumph shall wave
O'er the land of the FREE and the home of the BRAVE!"...all the way down.
Xaoc, Xaoc, Xaoc
A $10 dollar drop is "furious"?
Yes.
Be happy and buy moar!
The little bit of junk gold I have will suffice. I gave some of it to a close relative. The silver coin I once had still looks good, but I can't find it anywhere. I wonder what happened to it?
Some lead was used to obtain some fresh pheasant for my evening dining experience tonight. Got plenty of lead too, and, at times, it is worth more than gold.
If you want to dink around with bitcoin, be my guest.
http://content.screencast.com/users/JamesBrrando/folders/Jing/media/a5e9...
Fuck You Yellen!
http://www.youtube.com/watch?v=i3MXiTeH_Pg
Gold Silver prices are not being determined by supply and demand fundamentals, but entirely by BIS Central bank price targetting.
Producing technical charts on gold this or that is totally meaningless when the determination of price is at the behest of TPTB.
If the fiat value of gold was dependent on supply and demand fundamentals then gold and silver would right now be at never before seen prices.....so emphatic has demand been.
So when people produce technical charts to prove a point they show their igornance of gold and silver the past few years...and before that
actually it's totally meaningful, if using MATH not just imaginary picture patterns, in revealing the true targets to be manipulated INTO and the discount prices we can use (correlate to premium % time series) for acquisition OF the gold (bars & coins).
Pictures like head-and-shoulders or cup-and-handle are NOT TECHNICAL they are CLOUD PICTURES like staring at clouds & saying you see a face or a piggie or a kite. It's nonsense.
Technical means MATHEMATICAL.
And for another thing all support & resistance MUST BE a curve, sine-wave or other pattern matching back-testing. Linear lines on log-scale graphs MIGHT cut it IN SOME RARE cases IF slope is not zero. Linear lines of slope=0 or linear lines on a linear graph are MEANINGLESS because they ignore % moves, time-series & ignore inflationary pressure.
anybody has an idea what us gold reserves are worth ? My guess is 186 bn (4600 tons) but not sure if this is correct. This is less than what fed prints in 3 months ?
What gold reserves?
Somebody's real pissed about something....fine by me, still stacking....
http://www.zerohedge.com/news/2013-11-20/furious-gold-slamdown-leads-thi...
"Needless to say, there was absolutely no news once again to drive the move."
How about this one :
Venezuela reported planning to pawn its gold through Goldman Sachshttp://gata.org/node/13264
http://www.goldreporter.de/goldman-sachs-holt-sich-45-tonnen-gold-aus-ve...
Rik Gussé
Belgium
www.goudstudieforum.com
Have you ever seen the BIS building in Basel? Not the main office, the secondary building. Look at the architecture. It's a fucking Templar knights helmet. Seriously, you can't make this shit up.
drone that m'fucker............
~~~~~
https://www.google.com/search?q=bank+for+international+settlements&sourc...
SO how is it all going to end?
Cant see how QE can ever be stopped without crashing the markets. And endless printing will meet its end somehow and blow everything up.
What happens if people begin to lose confidence in the USD? Thats the recepie for high and hyperinflation. A sudden move to gold backing to put some confidence back into the currency before it sinks.
Gold virgin waiting for the right moment to pull the trigger. Who can recommend a reputable online seller? There are no physical sellers in my area that I can find. What % premium over spot is considered to be standard?
Bullion Direct's Nucleo exchange is the way to go. Or if you want fancy customer service, you can go with Apmex, Provident, Gainsville, etc.
https://comparegoldprices.com/
www.silvergoldbull.com
I've paid as high as 8% over spot on gold bars, it's obviously better to go lower. With coins like silver maples the % will be higher just for being a coin.
Venezuela reported planning to pawn its gold through Goldman Sachs
http://gata.org/node/13264
http://www.goldreporter.de/goldman-sachs-holt-sich-45-tonnen-gold-aus-ve...
I dare say China would snap that up in second if given the chance...will never see the market.
Seems like a logical reason to drop a $180m gold on the market in one lump then, to achieve the best price.
BTFD
BTF3ML
getting slaughtered now
Only took it down $10. It is getting harder for the manipulators to manipulate.
Must be some really bad news coming that will increase the Fed's $85B.
Bid. 1250USD. Ask 10,000USD
LMFAO! Good one Sir.
OK this is quite obviously the work of a predatory algo that spends the month increasing the bid-ask spread on its orders to uncover big stop losses. Then buys on the cheap for the rebound
Each of the price movements in the 3 instances of this oddity has been just about the legally allowed maximum of 9.5%. Just like they were doing with Natural Gas earlier
http://www.zerohedge.com/article/fractial-limit-order-buster-latest-market-manipulation-algo-gimmick
Boys, in trying to think logically "illogical", my head almost explodes.
Any of you gifted ZH'rs know of any Remedies you can suggest to pevent a mess?
boating accidents?
No reason? Costly conclusion that one.
Yellen rate view fully priced in. Taper is not. More growth, less liquidity, weak inflation a bad mix for gold. Sell.
That's the reason.
Next....CME will probably raise margin requirements. What a bunch of assholes!
If gold gets any cheaper I am doing my roof in gold like those mosques. Don't try to lick it dang it.
I was thinking about a gold tooth.
Now, complete grill coming.
It is nauseating to watch the rich bankers cheat the little guys out of their rightful profits every week.
Kudos to our ZH BTC disciples, for not coming in here and dancing around on our table showing us their nether regions over this.
http://www.youtube.com/watch?v=GANYRQFwB-k
Thanks, fellas.
I'll second the guy that rec'd PROVIDENT METALS. Best metal shop yet!
For those of you whose calculatiors exploded:
1500 contracts = 1.5m toz.
1.5m toz. = 125k tlbs.
125k tlbs. = 51.02 troy tonnes.
Nothing to see here.
Move along.
Black Friday sale in precious metals! Rumor on the street the slam downs are done in December and JP Morgan will be buying. Price will move up.
Either way, don't believe the bitcoin replacing gold hype. When people want to buy gold again, there will not be any to buy and its to the moon.
Some perspective from Armstrong. FWIW
http://armstrongeconomics.com/2013/11/20/gold-manipulation-or-lack-of-li...
OH EM GEE.
I am shawked. THA GOLDZ IS MANIPERLATED.
whocouldaknowed.