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Gold And Silver Smashed To 2013 Lows
As the US session starts, despite a dearth of news and actvity in other markets, the precious metals complex is being smashed lower (on heavy volume). Gold just hit 2013 lows at $1182 and Silver at $18.837 is near its 2013 lows also.
It seems someone wants the status-quo-defying precious metals going out at their lows as central-planning-supporting stocks go out at their highs...
on heavy volume...
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Happy New Year!
Good thing (for them) JPM works for China now.
good thing my rent checks come in tomorrow, mosterbox here i come.
They're running a few minutes late today. usually the smash is EXACTLY at 8:30am EST without fail
And at the time of this post it is back over it's pre-smash price.
Can you spell volatility?
Looks like all the ZH members broke their piggy banks and drove PM's off the lows.
And I bought some at the start of the day today. Before I went to work for my wages. Oh well, at least I get holiday pay tomorrow
QE is a hell of a drug.
Your grandkid's future earnings will be funding Ben Shalom's personal gold vault.
A pretty good move cause you can't just mine gold in the river......like Zimbabwe.
We know the banks are long gold so, until they're long silver, we will see more smashes.
Sorry, guys, that was my fault. I was taking some tax losses on client portfolios. Don't worry, I'll be buying back in 31 days from now.
"until they're long silver, we will see more smashes"
Not much longer they wont:
"Price-fixing by the One Bank in the silver market during the 1980’s and 90’s (and the 600-year low in the real-dollar price of silver which resulted) led to a 90% collapse in silver inventories from 1990 – 2005 alone. What happened after 2005, as this collapse seemingly began to reverse?
This was when the One Bank instructed its minions to begin falsifying the numbers on global silver inventories. This was accomplished in an absurdly clumsy manner: through adding silver sales receipts into total inventories. Specifically, every ounce of “silver” purchased in the bankers’ paper-called-silver market was added into total inventories. This has produced the totally farcical scenario in this quasi-official “record-keeping” where the more (paper) silver which is purchased, the larger the phony, official inventory numbers grow.
In short; we have absolutely no idea whether there are only two days of supply remaining for global demand for silver or two years. We only know that by 2005 the One Bank was already so alarmed by the complete collapse in global silver inventories that it began falsifying the reporting of this data – and this inventory-fraud persists to this day...
...Yet with global inventories/stockpiles of silver already at all-time lows (in per capita terms); we see the flows of (real) silver being sucked out of those dwindling inventories occurring at an even more unsustainable rate than in the gold market."
Silver BellsDisappearing inventory + fire sale price (below cost) = collapse
But the situation is nevertheless interesting... why does the cartel need the price to fall so low? More frightening of ordinary western folks doesn't make sense; they are already out of the game this way or another. The cartel rather seems to desperately need cheap physical, either to restore its plundered reserves, or to settle huge metal withdrawals driven mainly by China. In any case China will tremendously profit from the situation. It even looks like China has definitely gained the control over the situation holding it tight in its hands.
As was written this month, some TBTF banks held a meeting behind closed doors where they encouraged gold miners to continue selling forward contracts at current prices 'because the price could fall even further in 2014'. So this all is perhaps a hammer on miners in the first place. The rush for physical seems to be accelerating on both sides (west & east) despite the deceptive numbers exposed to the public, formerly known as 'spot price'.
The level of the rush is highly suspicious; apparently something big is happening behind the scenes… perhaps building the best starting point position in the new system after the big crash. And gold, as usual, will play the prime role.
The situation is indeed tough for gold investors these days (including me). It really requires nerves made of steel. But the incredible level of separation between the paper price and the fundamentals as well as the open price manipulation not being even masked anymore indicates a completely different game being played under the hood; the game so urgent that there is no more time left for making up more cover-ups. 'All or nothing' game.
Hold on!
At the other side of the lake ..
New Year's Eve Gold Rush At Shanghai Shopping Mall
http://www.ingoldwetrust.ch/new-years-eve-gold-rush-shanghai-shopping-mall
Must be all the Bitcoins being bought instead!
/ no shit it's sarc
CNBC needs "30% loss in 2013 for gold" to repeat over and over next year.
How come those cock-gobblers never explain the WHY of it? Oh, that's right, because they work for the Ministry Of Truth.
Art Cashin just said it's end of the year tax write-offs. Sure it is Art.
Silver is the target. Gold is collateral damge. (check the volumes on the monkey hammer - all silver) They have been pounding silver the last couple of days and dragging gold down as well. We now have a double bottom for gold (for now ... but ...) to end the year. Interesting.
Silver is more thinly traded (average daily gold trades are a factor of ten higher than silver), so perhaps they are going after the easier/cheaper target. Just a theory.
Indeed. Hence we buy more :-)
Silver For The People
....yea no manipulation huh.
i hope they choke on it.
Goldcoin owners getting robed agin by the bankers, I hear no shots , well I guess you just got to take it like bitchez , maybe they will throw you a bone in the new you if your lucky.
Starting your celebration early, eh? And who could blame you.
gold and silver's bubbles are still deflating. but, on this site, all selling is manipulation and all buying is "normal". you guys crack me up.
Ouch, talk about getting slammed, the metals are getting pounded harder than Mr, Nugents keyster by my buddy officer pike.
When did we put Uncle Ted in charge of the FED again?
Come to think of it.....when did we put Ted in charge of anything?
And on every other site, the equity markets are moving up on fundamentals. Yeah, right.
Well, what they don't tell you is, that the banksters stealing your money is fundamental.
Ah yes your usual 101% dishonesty.
That you blythe or just some but hurt fed guy...
101: Yesterday the dollar fell 28 basis points. Gold should have risen in concert. It fell $17. Go fuck yourself troll.
sure it is perfectly normal to dump 10,000 futures contracts all at the same time so i get the lowest return on my investment. that makes a lot of sense. about as much as your idiotic comment...
Happens all the time.....it's the only way to get the absolute best price.
Sure seems normal to me that someone (or a group of someones all) decided to sell Gold and Silver at 8:45 AM EST on 12-31-2013.
The fact they can't orchestrate any kind of smash during regular hours is telling. They are weak and scared.
You do wonder. I don't really know how much gold and silver they have to burn through and how much they are willing to burn through. I feel like for all I know we could wake up any morning and find that it is all over. There is nothing left to burn through and the powers that be have nothing left but to say holding gold and silver are acts of terrorism.
They have next to 0 actual metal to burn.
It's all naked shorting which, by any other measure, should be illegal.
Welcome to the Banana Republic Shit Show.
Well, deliveries are still being made, right? I'm talking about when they are either unable or unwilling to make any more deliveries. Sorta like when Nixon was unwilling to let gold leak out of the country anymore and closed the gold window. When no one can take delivery that would seem to be the end of the commodity exchange as we know it in terms of gold and silver. Maybe I have this all wrong.
D e s p e r a t i o n!
Hey CD, just wanted to thank you and others here for all your contributions and wish you all the best in 2014.
Gold and silver are bargains right now, no question. Reminds me of 1999, 2001 and 2008. Same kind of setup. Almost a universally despised asset in the West now.
Peace, Aloha and Happy New Year to all ZHers,
BoP
Happy New Year BOP.
All the best to you and yours.
Yeah, maybe they'll panic and dump all that gold in Ft Knox or sumpin.
What gold do you mean?
Sooooo....gold and silver are bubbles.....but continually ramping stocks are totally normal and solid fundamentals. Guys like you crack me up.
i never said stocks are not in a bubble. they are. actually, a much bigger bubble than gold/silver ever got. that bubble will pop too.
i just see no purpose in catching the falling machete that is gold/silver. maybe at $14 for silver and $800 gold, i will dip my toe in....
LOL...good luck finding any physical at that price. But you strike me as more a "paper" kind of guy, anyway...
How can silver and gold be in a bubble when normal historical allocation for PMs is 10% and it is currently 1%? You are either a moron or a liar, take your pick.
Silver For The People
yeah we're really stupid all right. I'm going out right now and sell all my Au/Ag and get some good and solid returns on paper- bonds, stawks, and counter party derivatives. there's obviously no upward limit to this house of cards. they have a name for guys like you 101 years and c.. it's called dumb money. and you guys sitting on the sidelines on your FRNs or piling into the 16,000 club like there is no tomorrow are the real fools. http://www.sentimentrader.com/subscriber/smart_dumb_description.htm
FRN weakness = paper gold selloff. Got it.
guess the talking points will include:
"strong dollar!" and "cheap equities" on the idiot box
Which is exactly what the knob gobblers on the financial channels are saying. That we are still in a bull market and there is too much money on the sidelines, goading the private investors back into the market.
Thank Yewwwwwwwwww.
you mean thanks lack jew!
I have always found it odd that the top names in financial circles are all Jewish. There couldn't be a hidden agenda, now could there?
http://www.secretsofthefed.com/qwefqwr/
Nevar!! Unpossible!
I think the wick on this daily candle should take out a shitload of stops. Well done, cocksuckers.
Maybe so but this time next year when gold is trading well below 1000 they will be happy they got stopped out up here and not down below 1000 cause that is were gold is going.
Wait till it trades under 500; wait for it.. wait for it! hold... HOOOOLLLDD! Then buy the shit out of it, all the way down to wherever it bottoms during the next downturn because the next move after that is to the moon and beyond at which time the price will quickly be rising towards infinity as people stop accepting dollars more widely
Keep in mind that its already a felony level offence in certain countries to try and use US dollars because they know its worth just the paper it is printed on. That time is not now for most of the world, that time is still potentically many years off.
I think they can hold this ponzi together for at least till the end of Obamas term and keep the market rising.
Of course it can all crash tomorrow with gold going over 9000 I don't know; step up and place your bets!
My bet is that with this smack on Silver we will see 21 by the end of January. Trade it with a stop around 18.40 to 18.20. Silver back over 19 at time of writing.
The whole system is fucked...just a matter of time till she blows...until then I am just going to trade the idiocy.
'
i will take your advice s.t. haha, fuckin eh! only advice is to buy periodically and put it in a safe place.
5-10 percent of nut. now go away for a very long time cause you are full of shit...
if you read martin armstrong we're getting closer and closer to maximum bearishness. almost time to use up the fiat.
It was in the cards as they say. I think a lot of traders saw this one coming.
Yeah, several of us have said as much. I called this particular slamdown yesterday, not because I'm particularly skilled, but because the manipulation is that freaking obvious.
I also called the news stories about it yesterday as well
1175 is key support for gold daily
http://bullandbearmash.com/chart/spot-gold-daily-moves-sharply-close-117...
so we got close and an immediate bounce followed
a stronger USD may weaken any upside in gold (stronger USD coming from near 4 year lows and a Euro coming off from near 4 year highs)
> 950 is key support for gold
FTFY
and the USD is gonna get stronger how?
our economic "recovery" going so well?
As long as TPTB keep printing, manipulating the numbers and lying to cover their malfeasance, this ponzi scheme could go on until 2017. Then no matter what they try, the wheels will come off.
well the DAX just hit a new ATH and the market is closed for the year, just total bullshit day after day
You mean to say someone is manipulating the Precious Metals market?
<Say it ain't so Ben, say it ain't so.>
Ahh but we Merikans did it!
Through our collective power as a nation we raised the Dow flagpole to a new all time record!
Stand up and cheer!
Oh and don't forget to bow to your WS overlords as you exit.
China hurry up and by all the phyzz so we can end this shit!
China is buying at fire sale prices.
It is time to place silver orders at APMEX and Provident Metals!
Get cheap metal now.
JM bullion is offering free shipping for the holidays and comparable pricing.
very nice deal on some silver......
they don't have anything unique, but good prices on the standards.
$21 per Silvertowne trademark bar, including shipping...
http://www.silvertowne.com/p-11650-silvertowne-trademark-1oz-999-silver-...
Happy 2014 to all here at ZH
APMEX is doing .89 over spot today any quantity....
http://www.apmex.com/product/44447?_campaign=12302013product44447
Provident just started doing tiered pricing for silver where 1 - 49 10 oz bars has a higher price than larger quantities. That's bad news for stackers with small trucks.
Im working still on the other metal. Brass/Lead. As Arnie said "Ill Be Back".
Looks like it's time to head on down to the LCS for a little dollar-cost averaging. Thanks for the fake paper smackdown, overlords!
Lub,
Ace Ventura
P.S. Oh yeah, almost forgot. Fuck you slime-slupring thieving oligarchical sacks of arrogant corruption. May the new year find the fleas of a quadrillion camels infesting the hair in your nether-regions.
Finally. Bottom's almost in. One more last good blow out and it's off to the races again.
Last chance to catch the train and it's bon voyage.
So...if I place my order with the Treasury Dept now, I can get these prices?
Appears they are smashing Natty and WTI as well. JPM/GS short commodities it would seem.
So we jump to the end of 2014 where silver has risen to a mere $20...and that return has left the market in the dust. Oh what will they say then?
Looked like about 12,000-15,000 contracts indiscrimate of Slinger naked shorts in a few seconds.
The banker participation report released yesterday at the close was incredibly bullish for gold.
http://winteractionables.com/?p=8458
The paper longs are their hedges against their OTC's that are highly leveraged short.
China must be laughing all the way to the gold vaults with extreme ecstasy
As I said about 2014 star gazing : if WS spikes on manipulated hike like a jumping pike then PMs will dive like the dolphin ondulating in deep sea blues.
Look for Moby Dick's tail once this ship is in stormy waters of 2015 and Capt. Ahab/Potus sees the dolphin metamorphose into the great white beast!
"All men to fighting stations ! Its Moby and he is after me!"
When will Ahab meet his maker...?
Now dat is obscurantist rant; wadda I no !
ASE coins still selling for $5-7 over spot. Not cheap. Spot prices definitely not being honored anywhere for purchases so therefor they mean very little.
Premiums for 90% are around 12%, which is ridiculous. I was buying bags of 90% in the late 80's and 90's for below spot... nobody wanted it. The guy at my LCS at the time was using 90% $500 FV bags for door stops... I'll never forget that -lol
Ouch
If I wanted to manipulate gold, what I would do is pick a shortened trading day where low volume is expected. Also why not start off the new year by weakening enemies of the reserve currency. They don't even hide the blatant manipulation anymore.
Today is quarterly options expiration. They had to take it down so they can win their bearish bets. Tyler, do you know what March's bets are?
Taper, PM suppression - it's all about painting a picture of a credible USD. How much paint is left on the bucket?
Looks like a back up the truck kind of day.
Better hurry up, the physical supply is down to 10 tons and there is a 9.7 ton delivery to be made.
This shit about to get real interesting...
Deflationary Depression is affecting many sectors in our society so a temporary drop in prices is reflected in commodities. The Long Term Outlook is much rosier.
Should see 1150 on gold today. One more big smash to ring in the new year.
So what's new?
looks like i just decided what to spend my christmas money on. I think ill trade in those goofy looking 100 dollar bills for some real money. thanks fed.
This is beyond depressing. Just what is it that the international banking cartel wants?
They already have the global reserve currency, central banksters in all but a few sovereign states, 90% of the world's most valuable art and sculpture, all the best yatchs, coastal land, and anything else that signifies wealth.
Ah, but they won't be satisfied until they have every nation on the planet so deeply in debt that they can never escape, all of it in completely fabricated, made-up-out-of-thin-air fiat money.
Fake money, produced by creating debt to bankers, is valuable, but real money, gold and silver, is supposed to be near-worthless. This is not reality; it is pure fantasy, conjured by central bankers and sold by the mindless trolls of Wall Street and the media. All that's left is farmland, and that's becoming scarce, and they will eventually come for that, or, drive its price so high none but the connected or extremely well-heeled can afford it.
A few years ago, I thought that a condition such as we have today (insolvent banks financing companies to all-time stock market highs while the real economy contracts - and forget the "official" data - the global economy has grwon over the past six years only in terms of inflation) would have fomented a revolution. However, I have become resigned to the idea that Americans have lost their spine, are completely disorganized and suffer greatly from the pervasive normalcy bias (thank you, CogDis) created by the bankers and politicians.
Nobody wants the party to end, and it certainly will not, unless the bankers want it to, and, at the time of their choosing, and not a momet before, they will surely end it, impoverishing even more of the population of the world.
We are ruled by the most pernicious, evil, conniving group of men and women to ever walk the planet... and, we like it.
So sad.
Go long hydrogen cyanide...
Go long Zyklon B!!!!!!!! Fuck the tribe!
No revolution. The TV, mobile phone, electricity and ebt cards are still working.
TPTB - ending 2013 in style...
Time to buy some PMs at farcically low prices.
1889-252=1637*.618=$1012 maybe it will maybe it won't then 2323 later
Is anyone really surprised?
They called for $1050 and I have no doubt they will do their best to try and make that a reality.
So it might be wise to save your cash for the bump and grind lower (imho).
IF $1000/oz is ever breached I think it's game over not long after, the increased physical demand would soon loot what's left sitting around in western vaults.
Have you seen geico's new wealth insurance commerical....mike...mike...mike Guess what day it is...Guess? Its...Stacking Day!...Whooo hooooo.... He just saved hundreds on his wealth insurance
SEASMOKE 2013 Bid 1180 Ask 10,000USD
SEASMOKE 2014 Bid 900 Ask 10,000USD
Oh good, another fire sale.
No one on this site is being fooled, Mr Bankster.
Hoping for very selfish reasons that these levels remain for all of 2014.
not for nothing, but you want to talk firesale in the 2015 calls on the miners....jesus. its like picking up money all over the streets.
Specifically what miners and strikes are you looking at?
Au up $2, Ag recovered .40 cents
Someone...something just bought the World paper inventory the G...now that is some stacking!
W.T.F. over? Just checked out monster boxes of ASE's at apmex, most of those are 5$ per coin over spot and up from there. Stick a fork in me already
FWIW, the premium over spot is much lower for Canadian Maple Leafs.
You probably already knew that.
I can understand shopping at APMEX for semi-premium and premium, but nobody beats MERIT on bullion.
Always the lowest price and always free insured shipping. It's no contest.
And back up again before I could get to the LCS.
gold shoots up suddenly
WTF IS GOING ON ?
Whats going on? They closed their shorts and flipped long ;)
What's going on? Crime, state sponsored bankster racketeering.
Hope you caught the bottom, bitchez! It wasn't there for very long.
That didn't last very long. I guess hey just needed it down long enough to get their bearish news stories out on their mockingbird media.
down 4% and now up. Maybe they said...this is too obvious.
Damn the alchemists that turn Bitcoin into gold only have to jack the price up to under $1200.
What a fucking travesty these paper pm markets are. So glad I stopped trying to trade them years ago.
smash and grab
I pulled the trigger yesterday afternoon at $19.50 an ounce.
I wish I could time it better like the big fish do.
For those who had monstrous Year-End bonuses (income or investments), they can now hedge and allocate a portion of their fiat gains. by doing what few goldbugs can still afford to do : BTFD! Imagine how much bullion they could buy, if they allocated a mere 5% for each Million they 'made'. At $1200/oz, that's a lot of coins jingling in a Happy New Year.
There really IS something to be said for things like, Balance, Perspective, Diversification & Allocation. That is, for those who don't have that Perfect Crystal Ball that Perma-Bull (CNBC) or Perma-Bear (ZH) shills proclaim to have.
I hope that I'm not the only one who learned what a healthy and balance portfolio would/should have looked like in 2013, and perhaps should look like in 2014: A custom-mix of Global Stocks, Global Bonds, Cash, Productive Real Assets, Bullion and BTC. ALL else brings the competence and integrity of your CFP into question.