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Gold Flash Crashes, Halts Trading As "Velocity Logic" Circuit Breakers Triggered
UPDATE: Gold futures are back in the green for the day...
and Bitcoin is back under $1000...
Rumors of a 'fat finger' abound from the gold futures pits but the precious metals complex just collapsed instantaneously... and the market was halted for the now traditional 10 seconds as circuit breakers were triggered, only this time instead of Stop Logic the event was "Velocity Logic" or lack thereof. Of course, the timing is perfect as it occurs right before the first POMO of the new year.
With massive volume flying though the futures markets...
Taking us back near 2014 lows...

Courtesy of Nanex, the clear gold trading halt shown below:
Some more pretty charts showing the slam:

Meanwhile, silver...
and the ETF:
So... a New York Fed fat finger?
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why can't i buy this fucking dip?
I'm telling you. Now it's time to buy! Look at the massive volume.
Guess it didn't last very long did it?
shocking
Ben Shalom's Last Hurrahs...
How come the fat finger 'mishap' always happen to the Gold futures and not the ES futures....this is a fuckin joke
May 2010.
Also, https://www.quantsig.net/live.html
It's been setting up for days.
Here's the fat finger....
....................../´¯/)
....................,/¯../
.................../..../
............./´¯/'...'/´¯¯`·¸
........../'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\... FED!
Currency wars. Gold won't be allowed over 1250, silver over 22, TNX over 3 until the revaluation. Just keep stacking and accept the crookedness for what it is: Total desperation of a failing (already dead) system.
exactly....
brought 20 Silver Towne 1 0z bars into the collective last friday...
thanks all u fucking sociopath bankers for allowing me to nip around the edges for 2yrs and counting....
DEATH TO THE MONEYCHANGERS.....
Another reason to keep stacking...once all available supplies are off-market WTF these assholes gonna do to prop up their bullshit?!
Uh... tungsten? No, wait! It's already been tried...
That is some fat finger. It covered the buttons for gold AND silver at the same time.
Tyler, how about a graph that shows the drop in ZH traffic after you started adding those idiotic auto-starting audio ads..???
Wow....this site has reached a new low...........
Use Firefox and Adbloc, you won't see or hear any ad
Works like a charm: https://adblockplus.org/en/firefox
Yawn.. metals charts are like so boring.
Wake me after the Chinese announce their 4000 tonnes.
I would not recommend the latest versions, since the Adblock Plus team really lost all trust in them by being co-opted by advertisers such as Google and allowing "non-intrusive advertising" and releasing totally non-functioning versions, etc. I would rather recommend the last good version, namely 2.1.2 or forks (alternative projects based on the same code) such as Adblock Edge.
I've never had a problem. Part of adblock plus is that it allows my selections to be shared with others so we're all group-blacklisting.
Plus I also use noscript so ads don't even have a chance to get ready to get blocked by adblock when they require a site served up that's blocked first by noscript.
It's been a long time since I've had to actually manually select ad frames & images to block, most of it's very clever & pre-set. It was always, however, my expectation that I would manually block each ad/site pattern to my choosing when I see one I don't like. It's just a convenience if I don't have to. Far as I know I can block any element on any page (even the ones I need to see to use the site) using adblock.
adblock
There's a fine line of ads vs intrusiveness.
For many people who actually have to show up to a job, on a site such as ZH, where one can get away reading at work since it looks so plain, having audio ads really gives away what you're doing at your work computer when "BUY NOW" starts blaring in office.
Also, user DOW JONES 20000- why were you so pessimistic when choosing your screen name?
I know, what a name.
Add the "DO NOT TRACK ME" application to your browser...Free... Works great, as most ads are eliminated here and elsewhere... The only annoyance are those big blank white spaces.
Do you donate to zerohedge, or do you just whine like a bitch when the ads from this awesome free service annoy you?
STILL not using firefox+adblock+noscript?
I never see this.
....................../´¯/)
....................,/¯../
.................../..../
............./´¯/'...'/´¯¯`·¸
........../'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\... Jammie Dimon !
Yeah. Cut that finger off!
Feed it to pirhanas.
That's gotta hurt.
malikai, the charts indicate that gold has more room for upside, until diverg becomes much positive. the 10yr notes yield might be goinging down, wich will benifit the gold price. the yield has been too high since july 2012. fed must un-taper to bring it down. happy new year to all.
A positive diverg equates to upside potential, while a negative indicates potential downside.
Output is the market implied price.
I wish I could say there was a lot of short term upside in gold right now, but having seen this pattern in the hours charts for about 6 months now, I know that's not likely.
divergence OF WHAT?
Your assertion is like saying "the other is better"
other WHAT?
You're missing information.
> ... the charts indicate ...
Lol.
It's not meant for everyone.
rcd, you start amusing me now.
Divided States said:
"How come the fat finger 'mishap' always happen to the Gold futures and not the ES futures....this is a fuckin joke"
Intangibles = Good.
Tangibles = Bad.
PONZI!!!
Maybe its 'Tradition'
Jamie needs a new pair o' shoooz!
One of many reasons to avoid stop losses.
Sexy Kurtosis.
The feds will be passing the hat around soon, we need to short Gold, please donate we've lost control !
you'd better be amazed... just imagine how many billions that little trick costed the fed thus taxpayers...
The good news is that this overt provable illegality will only carry on until it can't. The bad news is, given it's at teh behest of the government and thpse who run it from the shadows the timing is murky to say the least.
Why buy something that is so obviously manipulated?
Name one thing that isn't.
Exactly, name one thing that isn't manipulated? :D
Twitter stock. Solid fundamentals, poised for growth for the future.
Cramer told me so.
pods
Watching Cramer's coke-fueled, frenzied, carefully-scripted faux-rampages as he shamelessly delivers his pro-Wall Street, pro-Fed, "stocks for the long haul!" propaganda never fails to leave me feeling all warm and fuzzy. I think it's the rolled-up shirt sleeves which add the air of unassailable authority that really does it.
Now, that was hilarious!
Ben Bernakes beard? Yellin's bowl cut?
Are you kidding me! That beard is trimmed and plucked to perfection. It's a work of art. True genius!
Mr Yellen, yep I'll give you that. No time spent there. Or anywhere else no doubt.
It's war !
Who ever is buying on these slams and bringing it right back up has been toying with these fuckers for 3 days now. This looked personal and in your face like they've snapped. The smart money is now moving Gold up and Mr. manipulator is pissed.
Can you dig it? Can you dig it? CANNNN YOUUUU DIGGGGG ITTTTTTTTTTT?!
Meh, to me it just looks like the price manipulation is a little bumpy because its the managed money holding the shorts. The banks have to feed them profitson those positions to keep the price down while they finish as much accumulation as possible.
There might have been a tie in to the big reverse repo not having money set aside to handle the manipulation and Pomo today. Also bear in mind it's not efficient to whack price in time segments that are too close together. Sideways is as good as down if it runs that way long enough.
I do agree this is a message from JPM, but bear in mind the upward ignition events and price climbs are the result of shorts who are not manipulators acting rationally as opposed to the former bank shorts which acted irrationally.
"Why buy something that is so obviously manipulated?"
Like equities, bonds and US dollars?
People would theoretically want to manipulate the price down so they could buy more. That means I'm buying more. I'll start getting worried when the price is manipulated upward, meaning someone is getting ready to sell.
Because manipulations always fail, and the correction will be staggering.
"Why buy something that is so obviously manipulated?"
Duh! I dunno. I'm just stupid, I guess...
ha ha. Why do you think they are trying to supress gold. Because if normal people realize that parking your money there, you don't need the banks, the inflation tax, the payment of income tax on fictive income (interest gained on devaluing money), then their pretty little system collapses.
I just checked the value of gold VS the Krone. In 1873 the krone was valued thus" 2840 Kroner = 1kg of gold.
Today the value of 1 kg of gold? 218205 Kroner. over 98% loss.
The value of the American Dollar in 1971? 32 = one ounce, and today, 43 years later? 1240 more than 97% loss.
That is maybe why the supression is happening in the futures market. These are paper contracts, often traded between banks. Shalom Bernanke, withou any doubt in my mind have told them to go ahead and knock the stockings out of the market. With an implicit promise, that the taxpayers will foot the bill, when the chickens come home to roost. Remember, you don't even have to posess the futures that you trade. These are naked shorts made with no physical backing. There are almost 80 claims TO EACH physical gram of gold in existence!
When somebody really wakes up and demands delivery of the physical gold, they are told they can have it, but in 7 years, At the current rate of delivery, the shipment to Germany is taking 14 YEARS to effectuate.
Clearly the Germans have been told not to rock the boat, and accept quietly that non delivery is taking place at a snails pace. The next big claim on gold, where the recipient can't be persuaded to shut up, will make the whole house of cards come down.
This is so simple a second grader gets it. Yet is is being prevented by all the paper shuffeling, at the moment. The Chinese will most likely upset this carefully arranged scheme. When, is the big question, but this is going to end, and end badly for any 79 claims out of about 80!
Reason enuff to go physical??
In my book, certainly!
Oh contraire, you go physical because chicks dig it.
Hoo boy. It's going to be hard to top this gem today...
"Why buy something that is so obviously manipulated?"
You left out the most important element in your question. Manipulated up? or manipulated down? Something that is manipulated down or suppressed, such as silver, you would obviously buy because it is selling below its real value and cost of production. If you believe markets will out in the end, this will result in a shortage situation which will eventually result in a moonshot in prices. On the other hand something which is manipulated up should be shorted, such as stocks or bonds, because it is selling for much more than its true value. There are a number of problems with this approach in that there is no way to have physical possession of the short, they can close the casino at any time - trapping your profits, and they can devalue your casino chips, e.g. dollars. Hence the only play in this game right now is stacking PHYSICAL gold and silver, which 99.9% of your fellow ZH readers are already doing.
Silver For The People
you can! gold is down $700 from its high dontcha know? how can you have any money left that is NOT in gold already? must not be a believer!
I suppose i could borrow from future generations like the government, but I'm not bankrupt.
Fuck off troll
http://www.youtube.com/watch?v=A3IV22FJIbc
There may be a rational explanation for this. There's a news item on MarketWatch that the SNB, Swiss National Bank, lost so much money on their gold holdings this year, they won't be able to pay shareholders dividends, for the first time since 1901. I think this is very effective propaganda, if nothing else; the reputation of the SNB is enormous. I can see a news release like that triggering off a selling wave.
Maybe. The problem with your thesis is that the WSJ.com article that the Marketwatch story refers to was posted/published much earlier this morning.
That's the least of the porblems with his (you're being much too kind) "thesis". If that were the case, how on earth would one explain an almost immediate rebound?
The rebound is self-explanatory.
The timing of the waterfall is determined by the close of the London Market; leaving the market to the New York traders without the discipline of inter-market arbitrage. Literally hundreds of upward and downward waterfalls will be found on historical search with this same tming. The London market is much less margined and much less of a public event; it's more "serious" in a way. When they close, New York gets to play. If you look at the 24hr. chart today on Kitco; this will jump out at you; owing to the listing of the major world markets on the bottom of the chart; showing their opening and closing during the 24hrs.
In my mind, you only take a loss, if you actually sell the stuff. Otherwise you just follow the newly accepted accounting rules, pretend and extend.!
The Swiss have not sold their gold. They sit on a shitload of printed new Francs and EUROs, and the clever guys there have debased the Swiss currency to "stay competitive". It is actually scary what has been going on, in this fortress of rectitude!
They don't really want those bloody EUROs, but they need to try and stay competitive in the heart of Europe. And they have become a bit lonely, trying to keep up a resemblence of normalcy in an ocean of lunatics.
But sell their gold, secretly I think they might want to trade some of the EUROs for gold, because Draghi does not look to me like a man I would buy a secondhand bicycle from!
Oh, missed it by that much...
bullionvault.com; where individuals buy and sell real bullion has a daily chart of its market activity and this event doesn't really show up there; it's an OK looking chart today, with the current sell price around $1240/oz.; a little up on the day.
BullionVault is retarded too. It is purely paper BS prettied up to look like physical... Look at this option for delivery,
So, I thought it said you can by any size, any quantity? If I bought 200 ounce coins and wanted 50, why would they have to source them if in fact, I bought the coins and they should be in storage??????
IN YOUR HAND OR ITS MAKEBELIVE.
The whole point of Bullionvault is that you buy a lien to gold and they store it for you. It's all properly vaulted, assayed gold, which means it's all in the current standard 400-ounce LBMA good delivery format. Unless you buy an entire bar's worth, your claim will be to a fraction of one of those 400-ounce bars. If you decide to take physical delivery, they'll have to source ssmaller bars to make up the required quantity. That takes time, and time = money.
Having said that... I think they should offer a coin service too, where your gold is held in the form of coins. I'm pretty sure that would be popular, too.
Looks like the Bankers needed some money from there Goldcoin account and so they rob us yet again. Still no shots fired from the Bankers Bitches, that would be you.
Love how everyone goes mental over a mere 2.8% decline. Also, nice Bitcoin chart. You could've easily just labeled the two 'influencers' "oranges" and "hemlines" for all the effect it has.
I suppose if I applied bitcoin-hater logic to this, I'd be saying "wow, gold is way too volatile to be considered a store of wealth."
Yup, you're right. Sauce for the goose and all that...
". . . a mere 2.8% decline"
"Decline?" You call that a "decline?"
@Bastiat
Technically speaking, it was. Of course Tyler had to post the chart in dollar tick resolution to make it look EXTRA CRASH SCARY. And also to ignore the fact that Bitcoin is trading ABOVE 1,000 right now on Mt. Gox.
I'm sure he'll have a corrected update any time now...
Riiiiiiiiiiiiiiiiight.
4,000 gold futures contracts in one second is not a decline, it is notable; that is my point. I have no comment on BC.
Time to buy!
What's new?
Bullish for stocks...
Always fat fingers down never up...
"Fat fingers" down for now for gold but how about bonds? Remember the 5 minute, 5 handle, stealth squeeze on Dec 23rd? That was fat! There is also 10 second price freezes quite often in ZB and ZN but without the price jumps.
SCUMBAGS. CRIMINALS. MOTHERFUCKERS. I AM SICK OF THIS SHIT !!
And you are going to scweeem and scweem and scweem till you get what you want?
Or?
Dont' get mad; get even:
Always keep some 'stink bids' open on the levered gold/silver ETF's.
After the crash; there's always a smash back...
Don´t be mad, be glad and track the days of likely bullshit to have an outside of the market order!
What to do know?
how many ounces?
Someone desperate to sell gold at any price, because it is just such an abundant easy to come by stuff
This was my fault; I got drunk early and phoned in a 500 ton sell. It's surprisingly easy and they don't even ask who you are.
!! Well, let's watch that early morning drinking, OK? Your inspired sell orders are un-settling. LOL.
Wait, they don't ask who you are? Lets try a 500 ton buy!
Wait, they don't ask who you are? Lets try a 500 ton buy!
Five bucks, outta the ground.
Five bucks? No, that's silver (the shit is everywhere).
Pretty sure gold is more like ten bucks... or as the historical 15:1 ratio dictates, it must be $75. Yes, that's it, gold is worth $75 an ounce.
'When' the price drops to $75 a ounce, I'll be buying. Rather a lot, I might add... might need a bigger boat.
When you see the ignorant masses not willing to buy 1Oz of gold for $5 - $15 , you know that this country is pretty much
FUCKED!
I would suggest that the unwillingness comes from the old adage "if it sounds too good to be true...", though some will be from ignorance. I'd like to see someone "on the street" asking people if they thought gold was more valuable than dollars. I think you'd get a very different response set.
Honestly, if someone came up to me on the street telling me they'd sell me an ounce of gold for $50 I'd likely walk away as it is either a scam or a robbery.
FUNNY : Mark Dice.
Selling 1 Oz Gold Coin for $25 (when it's worth over $1,500)
Man Offers Random People A Free One Ounce Gold Coin
Selling My One Ounce Gold Coin for $20 (When It Was Worth $1600) Oops!
So basically you should go where he goes, pretend to be really dumb, act skeptical, then take the coin and pretend you're doing him a favor.
BIS on the offer.
Probably the bid too.
Highly entertaining.
Stop loss wash using paper.
Desperation.
And it's not my pants i'm smelling.
They tried the same thing on the 31st and got back in the face in spades--I like the pattern.
Me too. But it's still just paper.... As long as there's paper they can play.
Someone was a bit over zealous in their job today?
You have to slam it down, but not that far.
I am sure that they will find out that there was nothing nefarious going on with this in a free and open market.
pods
Gold volatility portends crashes.
Video games, friggin video games
I don't think those red arrows on the top 2 charts are necessary.
Same shit different year!
It triggered 'Stop Logic' circuit breakers?
Hmmm, how come they aren't triggered every few seconds, because there is no logic in the usual Gold trading activities that go on every day?!
What a rigged, fucking joke. HFTers can game the market at their own discretion. If they screw up, they get "a do over."
"IF" ... LOL
Is Auric Goldfinger still cornering the physical Gold market (since 1964) ?
Come in Nanex - analysis required
meanwhile - let me not distract you Americans from the main task - FORK AND DANGLE !!!
Someone Yellen Fat Finger, what a suprise. A day without a fat finger is like a day without a JPM indictment.
ECB says negative rates are 'uncharted territory'
Good try Jamie Dimon. You almost made the 2 billion you're going to need to pay off the DOJ!
Reminds me to go book a vacation to Acapolco, MeX to see what the cliff diving buzz is all about.
Atleast gold is painting a pretty 1hr bullish pinbar to dupe more buyers.
Yeah. Because that is exactly what they want--More pople buying their gold in the middle of global currency and sovereign debt crisis, after they failed to stop them from buying with a 40% slamdown. Their plan to get intelligent people to stop dumping fiat back in their faces is working out sooo well.
Securities Regulator "Hey this seems to happen every day, must be normal"
Fucking bastards
I think the flash crashes are becoming increasingly interesting to take advantage of. Maybe one should start the possibility of such flash crashes to pick up the gold that for some incomprehensible reasons some people are willing to leave on the table.
Please more Flash crashed, please please please.....
but the bloody thing was up $15 it usually does these crazy moved when it has been drifting lower this is blatant intervention as it was rising
Who is responsible for this because time to act has approached.
Sell till 1088
maybe bernanke is selling his coin collection on ebay and in some way it caused the price to drop?
I wonder when Ben Bernanke retires offically...do they give him a GOLD watch??????? just askin...
Yes, but the specific model provided is fastened with a paper clip...
When will they ever learn. These idiots will not throw any of us out of the sector that is most under valued. Pathetic.
chance for someone to buy $1250 gold for $1215. nice work if you can get it
Kitco ticker didn't notice... Ok maybe a little.
2 and 2. Bad ISM + Gold at 1248 would mean the 50 days moving average is taken out. So of course a slam down prevents the moving average to be taken out. Conclusion: do not look at the chart for any technical value, it is corrupted.
These paper bozos will NEVER shake me out.
They're not trying to shake you out yet. They just don't want the stock muppets to invest in PMs and loose faith in the $.
These charts are just an illusion!
You don't really see what you're seeing!
Again, it's all just an illusion...
I know where my boating accident occurred, I'll bet even money the pm's at the bottom of the river didn't flash crash.
If you can't hold it in your hand, whether it's food, ammo, medicine or money, you don't own it.
DaddyO
An attempt was made years ago to stop the crude oil market when trading got too chaotic to follow, and when price violations caused unwanted short or long positions after trades were cancelled. It was voted off the island by the entire trading community. Then , men were men. Now machines are men. Some of THEM are just plain pussies.
These things usually happen in threes...or is that people dying, plane crashes and natural disasters?
Just the facts...From Ted Butler via silverdoctors.com. Good read and he pulls no punches.
http://www.silverdoctors.com/ted-butler-2013-the-year-of-jpmorgan/#more-...
I'm going to have to look this story up again to refresh my memory but during the congressional investigations that followed the Hunt Brother's silver market corner, one of the brothers pointed out that members of the board that voted to change the rules for the silver market to liquidation only took out huge short positions before the vote and made themselves a lot of money ruining the Hunts.
I don't think the commodities regulators or exchanges were ever operating at an ethical level over where mtgox is right now. The thin veneer of respectability given to them by the media is for us plebs only, so that we will ciontinue to buy chips in their "fair" casino.
Interventions create the exact opposite results as intended. When they push stocks up, businesses stop focusing on normal profit drivers. An eventual mega crash is assured. When they push gold down, everyone takes their gold, and buries it never to be seen again. A mega spike is assured. The government and the bankers will never get anything right. They will always get the exact opposite results of whatever they attempt.
I hate when this manipulation is called a "Fat Finger" These are not mistakes, it is manipulation. Even zerohedge writers are being tricked by the mainstream into calling it a "Fat Finger", that implys a mistake like a butt dial. No one would make trades like this!!!!
I hate when this Blatent Fraud and Market Rigging is called "Maniplulation"... WTF, Bitchez.
Good point, manipulation is too soft a word as well, I like fraud too. I say keep buying and defaul comex. Frankly if Gata orginized a fund with the sole purpose of defaulting the comex we would all be well served, wouldn't be that hard. Just take delivery over and over until they default. Low risk in dollar terms, you would get your full amount of dollars back if they defaulted, and until they ran out they could mint nice "Kill Gold Fraud" coins and send them to your house. No doubt the government would step in, but I would love to give them a big FU. Futures markets are retarded now adays.
Nothing like a little FED & BIS manipulation [via JPM] to start the NY day. I'm sure they watch "Apocalyse Now" practically every day, and wiping out stops smells of victory. Nobody raises Holy Hell about this because all the major players profit from it; only the retail specs get fucked.
http://vegasxau.blogspot.com
This really is no joke, a slam, in large volume of 30$+, that is pretty impressive. This isn't a small manipulation, this is a serious player, yet they use the term Fat Finger like it was a mistake.
I have it on good source that Phat Phincker works at he JP Morgue......