Gold Halted As Prices Spike Higher; Stocks Stumbling

Tyler Durden's picture

Gold (>$1260) and silver (>$20) are extending yesterday's gains as US markets awake this morning. The crack higher at around 8:07ET caused the futures market to be halted after 3,000 Gold Futures contracts traded in one second at 08:07:45 on December 10, 2013 sending the price up $10 and tripping circuit breakers for 10 seconds. Silver is now +4% on the week and gold +2.5% as Treasuries are also bid. Stocks are stumbling overnight, driven by the "fundamentals" of a drop in EURJPY after it tagged 142 overnight and fell back.

PMs spiking again at the US open...

And halted at 8:07 - as Nanex shows,

About 3,000 Gold Futures contracts traded in one second at 08:07:45 on December 10, 2013 sending the price up $10 and tripping circuit breakers which halted trading for 10 seconds. This sort of thing is happening far too often: see also the drops on April 12, 2013,  September 12, 2013, October 11, 2013, November 20, 2013 and November 25, 2013 which also resulted in trading halts.

1. February 2014 Gold (GC) Futures Trades.

2. February 2014 Gold (GC) Futures Trades - Zoom.

3. February 2014 Gold (GC) Futures Depth of Book (how to read).



and stocks tumbling to play catch up to JPY carry...


and Treasuries are bid...

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GetZeeGold's picture



The Huns are at the gate!


Just growl at them.....maybe they'll just go away.

knukles's picture

Is this "What God Wrought?" to paraphrase Tommie Edison (the arch enemy of Nikola Tesla) when the Bullion Banks become Net Long of Gold Futures Contracts?
We get morning ramp-ups instead of morning beat downs?

He_Who Carried The Sun's picture

The S&P down 5 points is hardly "stocks tumbling".

Are you mad, stoned, deluded or just a "Gold Bug"

waiting to be swatted?

mick_richfield's picture

The problem with artificial gains, grotesquely protracted, is that any slightest beginning of a retraction can turn into an earth-shaking stampede.

He_Who Carried The Sun's picture

Right, that should make those

wonder, who bought Gold in any

shape or form when it was trading at 1,900 -

did I get your drift? - am I correcto?

quasimodo's picture

Man that rack is sure distracting


Occident Mortal's picture

Been calling gold a buy here for 2 weeks now.


Buy gold -


I'm averaging mid 1220's on my long position. Sub 1180 would invalidate the move.

fonestar's picture

Gold is up in "dollars".  Yay!  Happy seal dance for everyone!

DoChenRollingBearing's picture provides a convenient quick glance at Au priced in BTC as well as US$/Au.  The rather handy site also gives prices all in one place for Pt, Pd, Ag, WTIC (oil) and the 10% Treasury rate.

TeamDepends's picture

Distrackting!  Well done, ZH invents another word.

tmosley's picture

I've been disappointed with ZH's PM coverage lately.  Turd called this thing perfectly, forwarded the article to ZH, but they don't publish it, but rather just publish tripe.

This probably isn't "it" because JPM, the ENEMY, is net long gold and has cornered the market long (previously having cornered the market short).  The fact that the thin volume slamdowns have turned around should be evidence enough of that.

Ironically, a rising price is the only thing that will save the COMEX.  True PM bugs like me should be rooting for a price of ZERO.  Of course, it's nice to be able to liquidate a little here or there for some purchasing power, but that only drains your stack and lets them win.

DoChenRollingBearing's picture

Let's see if they cancel my order for gold paid for by Bitcoin I started yesterday.  Also, Randall Forsyth wrote an influential column in Barron's re BTC last weekend.  WHAT is China doing?  "Bitcoin Insider" answers some of my questions...

"Fun With Bitcoin for Beginners: Part Three"

Thank you, mick_richfield (and others) for your answers to my questions!


MachoMan's picture

Why does china need bitcoin when it's printing its own currency and buying the shiny?

DoChenRollingBearing's picture

I still do not have all the answers I would like, especially to the curious yet massive acceptance of BTC in China.  

Your question is excellent, I will pass it along to the expert I stay in contact with.

Even DoChenRollingBearings's central bank is trying to get more shiny with BTC.  China may have other reasons (I have read, but cannot confirm) that China likes gambling and some of that BTC is for gambling money and debts.

fonestar's picture

"Why does china need bitcoin when it's printing its own currency and buying the shiny?"


For the same reason everywhere else needs Bitcoin.  Because Bitcoin can do many things that gold and nationalist digital currencies cannot do.

unrulian's picture

disappear into thin air?

akak's picture

You say that almost as if you do not believe that a long and random string of numbers satisfies, or can satisfy, all the classic criteria of what constitutes money.

eclectic syncretist's picture

Like be used for transactions that might be of interest to the NSA, FBI, CIA, IRS, and other intelligence agencies, in order to find certain people of interest who think bitchcoin allows them to hide their financial activities? 

What happens when these agencies make their busts and Bitchcoin is no longer of any use to them?

greatbeard's picture

>> Turd called this thing perfectly,

All hail the blind squirrel in his moment of glory.  I can't believe ZH didn't give him his due in spite of all the spamming he did here.

tmosley's picture

How do you sit at your computer with all that assdamage?

bullchit's picture

S'Ok. Your mother is licking it better.


Bay of Pigs's picture

What spammimg? Turd left ZH months ago.

Have to agree tmosley, I thought some of Turds latest writings were pretty interesting and definitely worth reading. GATA even linked them.

eclectic syncretist's picture

The 2013 low in PMs was hit in July.  Up to that point in the year JPM had sold a net 1,300,000 ounces of gold.  In august they bought a net 315,100 ounces and between august and now they've bought a net 665,000 ounces (of which 388,000 have come so far this month alone).  Their turnaround corresponded perfectly with the low.  How do they do that?

greatbeard's picture

>> What spammimg? Turd left ZH months ago.

"Did here".  Did is the past tense of does.  Do you get the subtle nuance of that, jackass?

Bay of Pigs's picture

What the fuck is up your ass? It was just an observation on the fact that Turd hasn't been at ZH for a long time.


jerry_theking_lawler's picture

What TF? I left him years ago....haha. Well, not officially. Just don't partake in the daily metals report any more...consumes too much time and interfers with my strategy of buy low.....and never sell. Placed an order last week. Can't wait to see my Precious(es)........oh, what's my strategy you say? When I have money, I buy PMs...especially when they are on a 1/2 price sale. toodles.

auric1234's picture

You don't have to sell physical PMs when the fake price rises too much. Just buy some PUTS instead. It's a paper bet, so use paper instrument.

No reason to sell the real thing until the fiat experiment is over.


Rubbish's picture

It was a fear trade and that day is coming again, how's that budget working for ya?

Banjo's picture

I purchased a couple of ounces at $1900, I was also buying in 08 when it was $900 or there abouts.


Towards the end of 2007 gold was reaching $833 it's up 50% from there at around $1,260 today

In 2007 DJIA was reaching 14,000 it's up 15% from there at around 16000

IN 2007 S&P was reaching 1560 it's up 16% from there at around 1800


I would suggest looking at the immediate short term of your favorite investment and making decisions based on that.

I also recommend buying all major tops going ALL IN, as a solid foundation to manage your portfolio. This includes Apple, RMS, Worldcom, Enron, Amazon, Silver and Gold. If you do this with leverage even better.



Doña K's picture

@ He Who Carried

You need reading lessons as the title is "Stumbling" not "Tumbling"

I would not give you grammar lessons but your accusatory manner.

Manners still count

DoChenRollingBearing's picture

Doña K wrote: "Manners still count"

Yes, they do in my book as well.  Good on you.

Deo vindice's picture

It's "difference". Unless you're stumbling... or was it tumbling?

GeezerGeek's picture

Tommie was, apparently, misquoting Samual Morse's "What hath God wrought?" message sent from the Supreme Court to the B&O railroad depot in Baltimore. Slightly over 150 years later, using a newer version of electronic messaging, John Roberts sent a message saying "What have I done?" to someone named BO, but that only got as far as that big white building on Pennsylvania Avenue. It wasn't even December 7, but it nevertheless was a day that will live in infamy, to borrow a line from some other obscure politician.

BandGap's picture

What Hath God Wrought was Morse when they were laying the Trans Atlantic Cable.

The real fight is starting to pick up. How much can the Feds suppress PMs with all the other bullshit going on?

knukles's picture

Where's the "E"?

Y'all notice that layoffs around the world seem to be accelerating?  And in the damnedest spots.  Like a BBG headline about how "immigrants" are keeping the Ozzie economy afloat offsetting the decline in mining activity.

Decline in mining activity?
Kinda contemperaneous indicator?
Not temporary

And immigrants?

And talk about Propaganda.
Last night I'm tuning to a financial channel and what do I see an ad for?
A full length feature movie about the life of Nelson Madella.
Out in time for Christmas.
Talk about (no it's not a fucking coincidence, to fucking many of them... duh... glitches, excuses, etc) Propaganda!




And you were wonderin' why one should own gold, huh?

Race Car Driver's picture

> Out in time for Christmas.

This was all planned ... they whacked Mandella.

duo's picture

Mandela was on life support.  All they had to do was pick the date.

Doña K's picture

They may have checked with Obama's schedule.

BTW: It's raining like hell here very unusual for December

unrulian's picture

...ahh're right...Here in Canada in recent months and weeks it's all you hear...layoffs and in more traditional sectors, mining, food production etc.. heinz plant last week, kelloggs plant this week, pot ash corp's been a constant buzz lately

Theta_Burn's picture

A mole whacked alright...

Alan Greyson (dick) Florida... got smoked for 18 million in some scheme that I'm sure was totally above board.

.... has had a long record for picking winning stocks, which formed the basis for his personal fortune.

SmallerGovNow2's picture

And it could not have happened to a nicer fucking guy.... sarc/

GeezerGeek's picture

Grayson got what he deserved for investing in stuff not listed on the Congressional Insider Stock Tips bulletin. Curiously, I find myself on occassion agreeing with him; maybe 2% of the time. Usually, however, he's as useless as thet idiot congresscritter from New Hampshire, Ann Kuster, who claimed - in front of constituents - that a House Resolution was the Senate's, not House business.

And these are the types making our laws? Thank heaven they've been slow to do anything this year.

Mike in GA's picture

Remember, to rise to high office, all you have to do is find an opening on the D ticket.  Their voters party vote en masse without rational due diligence or careful consideration.  LIVs as swing voters...whatta concept.

fonzannoon's picture

PM's ironically have become "the fed is going to taper" play. The best thing to do is short every single fkin rally in PM's and BTFD on every tiny correction in stawks. 


fonzannoon's picture

good luck pal.

with that said, this is a stunning amount of activity by 4 old guys on their phones.