Gold Hammering Leads To Another Overnight Gold Market Halt

Tyler Durden's picture




 

Shortly after 1amET this morning, someone with no apparent fiduciary duty to their client's for best execution or any apparent trade allocation expertise decided it was time to dump 1500 contracts into an entirely illiquid gold futures market. The 150,000 ounce notional sell order ($184.5 million), captured graphically by Nanex, sent the price down $10 instaneously, tripped the exchange's circuit breakers and halted the market's trading for 20 seconds (once again). This is now the 4th market halt in the past 3 months (and this time on no news whatsoever), as the manipulative monkey-hammerings from who knows whom (BIS?) is becoming increasingly obvious.

 

Via Nanex,

This sort of thing is happening far too often: see also the drops on April 12, 2013,  September 12, 2013, October 11, 2013 and November 20, 2013 which also resulted in trading halts.

1. December 2013 Gold (GC) Futures Trades.



2. December 2013 Gold (GC) Futures Trades - Zoom 1.



3. December 2013 Gold (GC) Futures Trades - Zoom 2.
The 20 second halt shows up clearly. 



4. December 2013 Gold (GC) Futures Depth of Book (how to read).



 

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Mon, 11/25/2013 - 09:31 | 4187388 AlaricBalth
AlaricBalth's picture

Desperate times require desperate measures.

Mon, 11/25/2013 - 09:34 | 4187400 The Mist
The Mist's picture

No, obviously it's just some trader that thinks it's a good idea to sell a mass of gold in 1 trade. Surely they are that dumb, right? RIGHT?!

Mon, 11/25/2013 - 09:43 | 4187402 GetZeeGold
GetZeeGold's picture

 

 

You always get the best price when you sell it all at once.

 

Why hold something worth it's weight in gold....when you could be in QE laced equities?

Mon, 11/25/2013 - 09:49 | 4187449 BaBaBouy
BaBaBouy's picture

The Constant MANIPULATION Just Shows HOW IMPORTANT GOLD IS

To The US Gov, And Maintaininig The Dominance Of The

Worlds Reserve Money Paper Fiats (USD's) ... ]

""" Looks Like GOLD Is THE KEY!!! """

Mon, 11/25/2013 - 09:57 | 4187473 MillionDollarBonus_
MillionDollarBonus_'s picture

I don't know much about the gold market, but technically the chart just looks awful. The major resistance lines have been confirmed and reconfirmed, and a siginificant downtrend has formed. When you consider the opportunity cost of not owning stocks, it's puzzling to me why anyone would be in the gold market. Facebook and Twitter have treated me extremely well, and I continue to operate a simmple dollar-cost averaging strategies on these hot tech stocks. It seems pretty obvious to me that blue chip equities are and alway have been the place to be in the short term and long term, so why don't goldbugs get this?

http://accredited-times.com/2013/11/22/disruptive-government-programs/

Mon, 11/25/2013 - 09:59 | 4187485 fijisailor
fijisailor's picture

You're such a smart investor.  At what price do you actually plan to buy physical gold?

Mon, 11/25/2013 - 10:03 | 4187492 Shocker
Shocker's picture

With today's times, pretty much any price.

Layoff / Closing List

http://www.dailyjobcuts.com

.

 

Mon, 11/25/2013 - 10:32 | 4187582 tmosley
tmosley's picture

Well, they've got to do SOMETHING with all that gold they just got from Iran.  The last few smashes were from the gold they got from Venezuela.

Funny that the central banks of "our" enemies are weaker hands than so many of us.

To me this implies a new tactic--beggar thy enemy then approach with a "deal" that only costs them some "worthless" gold in exchange for at least temporarily relieving some of the financial and monetary terrorism.  Soon I expect that we will run out of enemies with any gold left, and will start going after neutrals or "friends" or maybe even doing something stupid like going after China, though I suspect China has been the primary beneficiary of all these gold grabs.

Mon, 11/25/2013 - 10:41 | 4187614 Pladizow
Pladizow's picture

Once is happenstance, twice is coincidence, but three times is enemy action.” – Ian Flemming, Creator of James Bond

Mon, 11/25/2013 - 11:06 | 4187690 NoDebt
NoDebt's picture

The fact that no regulator is even trying to figure out why this is happening tells you something about who's doing it.

Mon, 11/25/2013 - 11:26 | 4187747 Stuart
Stuart's picture

Either the regulators are literally so stupid that they make a mockery of the word "regulator" or they are complicit.    At this point, either seems plausible..certainly feasible.

Mon, 11/25/2013 - 11:41 | 4187802 Oracle of Kypseli
Oracle of Kypseli's picture

And of course the deal with Iran includes that they will not sell oil for gold.

Mon, 11/25/2013 - 11:42 | 4187806 rosiescenario
rosiescenario's picture

If the reverse of this were happening in some commodity such as oil, wheat, corn, etc. you know that the regulators would be all over it.

 

As you point out, obviously the Fed is the man behind the curtain...the puppetmaster.

 

 

Mon, 11/25/2013 - 11:51 | 4187827 Son of Captain Nemo
Son of Captain Nemo's picture

'tmosley'

You just received 10,000 BTC on that one!

Mon, 11/25/2013 - 10:08 | 4187506 Keyser
Keyser's picture

Next stop, $1100... That's when I will be adding to my stacks. 

 

Mon, 11/25/2013 - 10:21 | 4187540 Balvan
Balvan's picture

Gold is dead! Get over it, guys

Mon, 11/25/2013 - 10:45 | 4187631 Charles Nelson ...
Charles Nelson Reilly's picture

hmmmm, interesting.  somehow it's been money for 5000 years.... so you're analysis is wrong.

Mon, 11/25/2013 - 10:50 | 4187645 Svendblaaskaeg
Svendblaaskaeg's picture

"Gold is dead! Get over it, guys"

Not dead - just pining for the fjords

Mon, 11/25/2013 - 11:30 | 4187752 TWSceptic
TWSceptic's picture

That's what they said in 1976. Thanks for your comment, which only strengthens my presumption.

Mon, 11/25/2013 - 10:45 | 4187623 RazvanM
RazvanM's picture

The gold price could go down to 0. Then, the next step will be to be payed to own it.

Mon, 11/25/2013 - 13:13 | 4188082 SilverSavant
SilverSavant's picture

hello again!!!!!   MDB is laying down the establishment propaganda line with awesome skill.   THIS IS SARCASM  This writer is the very definition of Da Bomb.   But go ahead and encourage him, it is so much fun. 

Mon, 11/25/2013 - 10:54 | 4187656 Shrapnel
Shrapnel's picture

MDB.....HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Mon, 11/25/2013 - 11:41 | 4187800 GovernmentMule
GovernmentMule's picture

One of the sheeple has spoken!

Mon, 11/25/2013 - 09:58 | 4187476 fijisailor
fijisailor's picture

Yes and that alone is one of the many good reasons to buy physical.

Mon, 11/25/2013 - 10:05 | 4187493 PP
PP's picture

You can not halt SGE (Shanghai Gold Exchange) and SHFE (Shanghai Future Exchange) because in SGE there are 20% outstanding contract demand for delivery, if you nake short in SGE like in Comex, you suiside.

Mon, 11/25/2013 - 10:15 | 4187516 PP
PP's picture

Bonus information, Chinese foreign department are registering Chinese who lived in Japan "To facilitate the evacuation"

This is biggest blackswan event than Fed's perpetual tapering talks

100% no war? 100% no bombard mainland Japan? think again......

 

 

Mon, 11/25/2013 - 10:41 | 4187612 oak
oak's picture

china appears to prepare the war against japan step by step. in truth, no body knows. the more important question, is japan ready for it?

Mon, 11/25/2013 - 11:42 | 4187801 Calmyourself
Calmyourself's picture

No, launching ground to air missiles or ground to ground is a skirmish, China has no lift to get troops to Japan.  Divine wind anyone..  Japan can go nuclear power in about ten minutes..

Mon, 11/25/2013 - 13:56 | 4188208 Oracle of Kypseli
Oracle of Kypseli's picture

How about the 70+ US Installations in Japan and the pacific?

Mon, 11/25/2013 - 11:36 | 4187786 oak
Mon, 11/25/2013 - 11:44 | 4187814 Uchtdorf
Uchtdorf's picture

Need a cross-reference, please. I've got connections to a Marine in Okinawa.

Mon, 11/25/2013 - 10:04 | 4187497 Nothing but the...
Nothing but the truth.'s picture

Preciuos metals are the mortal enemy for the US $ . By manipulating their value , the Fed can continue with it's misguided, force feeding of  asset bubble policies.

Mon, 11/25/2013 - 14:49 | 4188371 Oracle 911
Oracle 911's picture

The catch in this is this, the Chinese, Russians and other eastern countries will own almost all of the western gold.

Mon, 11/25/2013 - 19:41 | 4189210 TheHound73
TheHound73's picture

<<Preciuos metals are the mortal enemy for the US>>

How so? I buy physical gold and stash it, not letting it circulate in the economy.  On the other hand, whomever I bought physical from now has my fiat to do with as he/she will.  I would think that a lower Gold price would attract more buyers, getting gold in to more hands.  Widening the base of the pyramid, as it were.  Of course this is not to imply that Gold is a pyramid scheme at prices above their industrial ("intrinsic") value...

Mon, 11/25/2013 - 09:52 | 4187456 espirit
espirit's picture

I'll continue to trade [Beni-Bux] for the stackable...

Thank You very much.

Mon, 11/25/2013 - 09:52 | 4187462 CPL
CPL's picture

Everyone has watched it for six years.  It's got nothing to do with equities switching.  It has to do with insanely overleveraged ETN and ETF instrumentation priced in USD.  It is now the only method of manipulation.  So if equities being used as a saw horse, sure, by the method of selling a piece of over leveraged paper gold for another equally worthless stock or t-bill.

In the market it's a lateral swap of capital, if you did the same thing on the street it would be called three card monte.  Just gotta find the pretty lady under the cards...if she was ever there.

 

 

Mon, 11/25/2013 - 09:56 | 4187467 MillionDollarBonus_
MillionDollarBonus_'s picture

I don't know much about the gold market, but technically the chart just looks awful. The major resistance lines have been confirmed and reconfirmed, and a siginificant downtrend has formed. When you consider the opportunity cost of not owning stocks, it's puzzling to me why anyone would be in the gold market. Facebook and Twitter have treated me extremely well, and I continue to operate a simmple dollar-cost averaging strategies on these hot tech stocks. It seems pretty obvious to me that blue chip equities are and alway have been the place to be in the short term and long term, so why don't goldbugs get this?

http://accredited-times.com/2013/11/22/disruptive-government-programs/

Mon, 11/25/2013 - 09:59 | 4187488 Bearwagon
Bearwagon's picture

So, you don't know much about the gold market, eh? Well, let me help out a bit: That ain't no "market" anymore! It's all rigged (ready to explode). But do go on: Destroy the world and what ever is left of humanity, and you will experience a (brief) moment in time, when the ROCE will be far above 20%. That would surely be worth a few trillion dead, if only the profits would be okay, right? Right?!

Mon, 11/25/2013 - 11:19 | 4187719 dryam
dryam's picture

MBD,

You seem to show up when much misdirection is needed. Seriously, who is providing your paycheck, the Fed, the administration, the treasury, the banks, Homeland Security????

The real story is the all out war on gold right now evidenced by the stipulation in the Iran deal reached over the weekend which prohibits Iran from selling oil for gold payments.

Imagine that, gold is a so-called meaningless substance yet part of one of the biggest political agreements in a long time contains stipulations against gold in order to keep this massive charade going.

Seriously MBD, who gives you a paycheck to try to disrupt these ZH forums?

Mon, 11/25/2013 - 11:49 | 4187824 superflex
superflex's picture

Tyler like the page clicks.

Figure it out.

Mon, 11/25/2013 - 12:33 | 4187963 Son of Captain Nemo
Son of Captain Nemo's picture

dryam

You left out the "fact" that the Iran deal evaporates for the U.S. in 6 short months...

I also do believe that 6 months will not fix the endemic collapse of the U.S. bond markets.  What is in that package deal for Iran is nothing less than a win-win with details that may never be revealed.

Hint.  Lots of smiles coming from Vlad Putin on his reacquisition of the Ukraine for new business along with the ouster of Michel Saakashvili in Georgia that was announced a little over a week ago.

Couple that with China's victory dance announcement over pegging their currency to oil vs. USD and all you see is a desperate helpless clinging White House Congress Federal Reserve that has no means to pay any of it's foreign obligations, most significant among them a MIC that spies on it's people and closest allies and can no longer sustain it's offensive metastasizing posture.

Poke Uncle Sam with a fork.  He's Done!

Mon, 11/25/2013 - 11:17 | 4187713 Papasmurf
Papasmurf's picture

I agree with you.  You don't know much about the gold market.  You can't draw resistance lines or trendlines on gold charts.  That's meaningless.

Mon, 11/25/2013 - 09:59 | 4187481 PP
PP's picture

These f**king golden shit trader(s) especially like the number "1500" per trade when they dumps contract

Mon, 11/25/2013 - 10:57 | 4187668 asteroids
asteroids's picture

For someone to throw away $100M, their bank balance must at least be 100x to 200x bigger, so $1B-$2B. The number of guys that can throw away that kind of money and not care is pretty small.

Mon, 11/25/2013 - 16:30 | 4188676 Cacete de Ouro
Cacete de Ouro's picture

Mikaël Charozé, BIS, now in Hong Kong, whose various tasks included the "management of the liquidity for big amounts" primarily interventions and portfolio diversification, as well as "holding and managing proprietary positions on all currencies including gold."

http://www.zerohedge.com/news/bis-fxgold-intervention-profiles-and-after

Benoit Gilson, Head of Foreign Exchange & Gold At The BIS, Basle/Basel/Bâle

http://www.zerohedge.com/news/2012-12-28/fleecebook-meet-benoit-gilson-h...

Mon, 11/25/2013 - 09:37 | 4187412 TeamDepends
TeamDepends's picture

And desperate they are because the COMEX vaults are almost empty!

Mon, 11/25/2013 - 09:43 | 4187431 GetZeeGold
GetZeeGold's picture

 

 

Dude.....shhhh!

Mon, 11/25/2013 - 09:52 | 4187459 Bullionaire
Bullionaire's picture

I suggest we "coin" a new phrase for this PM phenomenon: "getting Charozéd."

http://www.zerohedge.com/news/meet-people-bringing-you-currency-manipulation-daily-basis

As in "Gold Got Charozéd Yet Again," or "And Now Back To Your Regularly-Scheduled Charozé-ing"

Mon, 11/25/2013 - 11:20 | 4187727 unrulian
unrulian's picture

I wonder what K Henry is doing these days?

Mon, 11/25/2013 - 09:56 | 4187470 TeamDepends
TeamDepends's picture

Never!  We will not be silenc

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