This page has been archived and commenting is disabled.
Gold Hammering Leads To Another Overnight Gold Market Halt
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.
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).
»
- 26522 reads
- Printer-friendly version
- Send to friend
- advertisements -
I don't think the FEDs goals are the same as the normal PM customer. People have already stated here and quoted that the FED has fine print somewhere that states that is considers selling or buying Gold to manipulate the price or to defend the price of the dollar as valid and not against the law.
Indeed they think it is part of their role to do so.
The thing that scares me the most is that they don't seem to even care if you know what they are doing?
I am not sure if this means that they can do it for a long time or if they are getting near the end of their power to continue to do so?
I was thinking about this the other day.
What if the FED is buying all of the paper gold? What is their timeline? They can buy paper gold with the expectation that at some date in the future the paper will be redeemable for gold that is not yet dug out of the ground. So the FED isn't worried that the paper gold can't be converted to real gold today or even next year. They can slam the price of gold today which keeps "inflation" down or at least what most people would see as inflation.
RE: The thing that scares me the most is that they don't seem to even care if you know what they are doing?
Maybe they will deal with the small % of physical PM people quietly. Or maybe they will envoke a new law much like the Iranian deal this last week. Forbiding Gold or Silver as currency. It would take a stirke against the constitution but I wouldn't rule that out completely.
Really weird? Kinda like playing a game or something right? It's almost as if whoever plays this fun little game must be doing so with pretend money or something because apparently no consideration of profit/loss occurs.
Apparently.
Sooner or later a big buyer is going to be lurking and not only swallow the sell orders but drive up the price and then ask for physical delivery. That is the day it will start raining banksters.
Charozed like corrupters....TPTB scumatariate with these daily monthly yearly corruptions of silver and gold markets have only been frightening people into Buying gold and silver.
When TPTB expended enormous sums in totally bizarre and obvious manipulation attempts... you know you have to buy gold/silver, hang on to it and buy more. And that is what is happening.
The stupid thing is...if they really were trying to get their hands on physical gold...the way to do it is let the price go high.......but these people never like anybody but elite mates make money...and prefer to do it the other way. In the end they will fools, blaming each other for the collapsse.
And silver remains relatively untouched today, out of its usual lockstep with Gold.
Come on you soulless motherfuckers. I'm planning on trading some fiat shit tickets for AG in december and would greatly appreciate some more discount.
Best regards and fuck you very much
RC
I bought silver at $50
When do I break even again?
If it was 1980....there's a good chance I sold it to you.
Of course 50 bucks back in 1980 was worth a hell of a lot more than it is now.
You look at this incorrectly. You buy a car and it loses 20% of its value the minute you drive it off the lot but you don't complain. There is utility in the car because it gets you to work. Many bought houses that are now underwater, but do not complain. There is utility in the house. It is your home. it is time for you to mature and quit looking at the price. This is the utility of bullion. It is your seed money if(when) your currency collapses. It is your do over money. The absolute best position to be in is to to have an asset, that may fluctuate wildly in value, but when TRULY needed will have the store of value you expect.
As soon as you stop shooting those home-made animal porn videos for Flickr in your parents basement. Quick, shut the donkey up, your Mom just pulled into the driveway ..
if you loved it at $50, u must be creaming your shorts for $19 handle silver. Buy 10 times (the oz) as much as your $50 purchase and thank me later.
When you sell it back to me at $15.
Ka-ching and there is the bounce back, al this manupilation all for nothing
What a waste of "fiat shit tickets"
Now back over $1240. Looks like they will have to print another $200m in paper gold to sell. That last one didn't last very long.
More dope motherfucka!!! That fix didn't do it.
The best will be when they try that bogus shit and the price goes up, and it will eventually happen.
Just to get some more hopeful papergold-bulls under the knife. Iirc: If you can sell it for 1228, why not trying to sell it for 1249?
and again I say http://captiongenerator.com/9908/Hitler-not-pleased-with-Bitcoin
#askjpm why was gold monkeyhammered last night?
oh Look the London fix is in....not obvious at all.
I heard they were moving to Bitcoins ;)
Does this mean that it's time for all the poor people that are left in Detroit to start shopping for that brand new second car to put in the driveway?You know,just in time for Christmas.
Today is the option expiration date as well, real demand is there:
Chinese Gold Demand And The World Gold Council’s Estimates
Alasdair Macleod provides very good explanation for the difference between Eric Sprott calculations and WGC estimates, which are dramatically underestimating the real demand for Gold from China this year. Peter Schiff: On Taper, China's Bombshell Announcements For Treasuries, Dollar And Gold GLD, MUX, TNR.v, GDX "Peter Schiff talks about the bombshell of the year - China has announced the Mother Of All Tapering - PBOC Says No Longer in China's Interest to Increase Reserves. China is ready to reduce its balance sheet and they do not have to sell any US Treasuries - during the operation Twist they have used the golden opportunity and rolled over the long term treasuries into the shorter maturities. China can just allow US to repay maturing US Treasuries. We do not think here that they will accept Bitcoin. They have made this announcement after the record buying of Gold and some people are estimating that official Gold reserves are much higher than officially recognised today."
China, India, Turkey and Thailand Buying Record Amount of Gold - What Do They Know The Others Don't? GLD, MUX, TNR.v, GDX
these guys are increasingly desperate. Use the price to your advantage. Someone should visit the guy of the BIS at the IFC2 in HK. Maybe we can watch him do his magic (voodoo).
imagine if it were real gold.
:)
and right back up again.
I know, I know. It's monday and you're still hungover from all the blow and hookers on friday night and then trying to explain the genital herpes to your wives on saturday and sunday but really.... come on. Try harder you fuckers, program your bots properly.
Oh Ben....Janet....Jamie...........yoohooo.........we can fucking see you!!!
Just from the chart as posted here, and considering the
$184 MM, it looks someone could come out way ahead
on the physical, depending on the gold fix, even
covering the notional trade with a few $10's MM loss.
Imagine a manipulator taking $ A Few Billion in the physical.
Also, it plants in traders' minds they can do it again.
The part about where it doesn't feel right if it's
a central bank comes from its working for a
privatized monetary system instead of one working
for everyone.
But traders have little choice but to not
ignore it. Besides, if they're accumulators,
they can welcome it.
i wonder what they're afraid of...?
Things bankers are afraid of 101:
The Truth. The awakened slave. Hard money. Destitution. Jumping from hi-scrapers.
"hammerings from who knows whom (BIS?)"
How about someone who wants a lot of gold hammering it down.
Like China.
Signed,
Babe in the Woods
Just a question,
Could this big paper sale (and the previous ones) just be to play the shorts?
Perhaps many of these moves are from players that don't care what the price of gold is? They just are buying shorts and then doing a paper dump to gain on the margin calls and even perhaps to rebuy the gold before it goes back up too much.
Meaning that in these plays, the price of gold is not relevant. Just the percentage of drop from what ever level may exist.
The Coordinated Effort To Suppress The Gold Price
We have another view - from Europe this time - on the ongoing Gold manipulation, its mechanics and the motivations behind it. UK financial authorities have launched the investigations in the Gold market manipulations now. We do not hold our breath here, but hope that they will get at least this information for consideration. Manipulation is conducted on everyday basis with the aim to drive the Gold fixing price in London down and get access to physical Gold, which could be sold at a premium at the next trading day in Asia. "This arbitrage" was a normal source of profit for LBMA banks, but now starting from April of this year we have the additional waterfall smashing of Gold in order to manipulate the QE inflation expectations in the market. http://sufiy.blogspot.co.uk/2013/11/the-coordinated-effort-to-suppress-g...
Fuck man, wouldn't one think that some basic reforms such as transparency in trading would help keep the bastards honest? If a reform was passed that made it mandatory to reveal who is behind each trade, that would be a disincentive to manipulate. Oh but that's just me being silly, I forgot how opacity is the preferred mechanism of the FREE MARKET that we are made to believe exists. The whole system is engineered to be abused.
My current theory is that the paper market becomes irrelevant. When? At the exact moment that the paper dollar does. When that happens, and it might be sooner than any of us expect, the scales will fall from the eyes of the masses and all shall share the vision of the emperor in his birthday suit. Expect market outages to increase in frequency and duration until the day they fail to reopen. Prepare yourselves for pandemonium.