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Gold Flash Crashes, Halts Trading As "Velocity Logic" Circuit Breakers Triggered

Tyler Durden's picture


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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Mon, 01/06/2014 - 11:27 | 4304292 putaipan
putaipan's picture

why can't i buy this fucking dip?

Mon, 01/06/2014 - 11:24 | 4304297 hungarianboy
hungarianboy's picture

I'm telling you. Now it's time to buy! Look at the massive volume.

Mon, 01/06/2014 - 11:32 | 4304314 Harlequin001
Harlequin001's picture

Guess it didn't last very long did it?

Mon, 01/06/2014 - 11:33 | 4304319 Stackers
Stackers's picture


Mon, 01/06/2014 - 11:37 | 4304341 BaBaBouy
BaBaBouy's picture

Ben Shalom's Last Hurrahs...

Mon, 01/06/2014 - 11:41 | 4304359 Divided States ...
Divided States of America's picture

How come the fat finger 'mishap' always happen to the Gold futures and not the ES futures....this is a fuckin joke


Mon, 01/06/2014 - 11:47 | 4304374 malikai
malikai's picture

May 2010.


It's been setting up for days.

Mon, 01/06/2014 - 12:01 | 4304402 dryam
dryam's picture

Here's the fat finger....


........('(...´...´.... ¯~/'...')
..........''...\.......... _.·´
..............\.............\...  FED!

Mon, 01/06/2014 - 12:15 | 4304424 nope-1004
nope-1004's picture

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.


Mon, 01/06/2014 - 12:16 | 4304433 Kaiser Sousa
Kaiser Sousa's picture


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....


Mon, 01/06/2014 - 12:41 | 4304530 kralizec
kralizec's picture

Another reason to keep stacking...once all available supplies are off-market WTF these assholes gonna do to prop up their bullshit?!

Mon, 01/06/2014 - 12:46 | 4304566 Jonas Parker
Jonas Parker's picture

Uh... tungsten? No, wait! It's already been tried...

Mon, 01/06/2014 - 12:54 | 4304581 Deo vindice
Deo vindice's picture

That is some fat finger. It covered the buttons for gold AND silver at the same time.

Mon, 01/06/2014 - 12:55 | 4304593 MillionDollarBogus_
MillionDollarBogus_'s picture

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...........


Mon, 01/06/2014 - 13:11 | 4304637 ArrestBobRubin
ArrestBobRubin's picture

Use Firefox and Adbloc, you won't see or hear any ad

Mon, 01/06/2014 - 13:13 | 4304660 ebworthen
ebworthen's picture

Works like a charm:

Mon, 01/06/2014 - 16:50 | 4305421 Manthong
Manthong's picture

Yawn.. metals charts are like so boring.

Wake me after the Chinese announce their 4000 tonnes.

Mon, 01/06/2014 - 18:56 | 4305781 Pseudonymous
Pseudonymous's picture

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.

Mon, 01/06/2014 - 19:04 | 4305805 MeelionDollerBogus
MeelionDollerBogus's picture

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.

Mon, 01/06/2014 - 13:16 | 4304655 dow jones 20000
dow jones 20000's picture


Mon, 01/06/2014 - 17:35 | 4305567 BTFDemocracy
BTFDemocracy's picture

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?

Mon, 01/06/2014 - 18:59 | 4305789 MeelionDollerBogus
MeelionDollerBogus's picture

I know, what a name.

Mon, 01/06/2014 - 13:53 | 4304776 Uncertain T
Uncertain T's picture

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.

Mon, 01/06/2014 - 18:40 | 4305734 Hobbleknee
Hobbleknee's picture

Do you donate to zerohedge, or do you just whine like a bitch when the ads from this awesome free service annoy you?

Mon, 01/06/2014 - 18:47 | 4305757 MeelionDollerBogus
MeelionDollerBogus's picture

STILL not using firefox+adblock+noscript?
I never see this.

Mon, 01/06/2014 - 12:46 | 4304562 resurger
resurger's picture


........('(...´...´.... ¯~/'...')
..........''...\.......... _.·´
..............\.............\...  Jammie Dimon !

Mon, 01/06/2014 - 13:30 | 4304706 malikai
malikai's picture

Yeah. Cut that finger off!

Feed it to pirhanas.

Mon, 01/06/2014 - 22:30 | 4306510 Al Gorerhythm
Al Gorerhythm's picture

That's gotta hurt.

Mon, 01/06/2014 - 12:20 | 4304413 oak
oak's picture

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.

Mon, 01/06/2014 - 12:18 | 4304447 malikai
malikai's picture

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.

Mon, 01/06/2014 - 17:59 | 4305643 MeelionDollerBogus
MeelionDollerBogus's picture

divergence OF WHAT?

Your assertion is like saying "the other is better"

other WHAT?

You're missing information.

Mon, 01/06/2014 - 13:08 | 4304625 Race Car Driver
Race Car Driver's picture

> ... the charts indicate ...



Mon, 01/06/2014 - 14:21 | 4304928 malikai
malikai's picture

It's not meant for everyone.

Wed, 01/08/2014 - 10:00 | 4304956 oak
oak's picture

rcd, you start amusing me now.

Mon, 01/06/2014 - 12:46 | 4304547 ebworthen
ebworthen's picture

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.


Mon, 01/06/2014 - 12:50 | 4304567 resurger
resurger's picture

Maybe its 'Tradition'

Mon, 01/06/2014 - 11:42 | 4304362 Big Corked Boots
Big Corked Boots's picture

Jamie needs a new pair o' shoooz!

Mon, 01/06/2014 - 11:46 | 4304365 kaiserhoff
kaiserhoff's picture

 One of many reasons to avoid stop losses. 

Mon, 01/06/2014 - 12:54 | 4304588 resurger
resurger's picture

Sexy Kurtosis.

Mon, 01/06/2014 - 11:35 | 4304344 Rubbish
Rubbish's picture

The feds will be passing the hat around soon, we need to short Gold, please donate we've lost control !

Mon, 01/06/2014 - 11:39 | 4304348 Sudden Debt
Sudden Debt's picture

you'd better be amazed... just imagine how many billions that little trick costed the fed thus taxpayers...

Mon, 01/06/2014 - 11:53 | 4304381 Canadian Dirtlump
Canadian Dirtlump's picture

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.

Mon, 01/06/2014 - 11:29 | 4304315 slotmouth
slotmouth's picture

Why buy something that is so obviously manipulated?

Mon, 01/06/2014 - 11:34 | 4304325 Harlequin001
Harlequin001's picture

Name one thing that isn't.

Mon, 01/06/2014 - 11:37 | 4304339 hungarianboy
hungarianboy's picture

Exactly, name one thing that isn't manipulated? :D

Mon, 01/06/2014 - 11:36 | 4304346 pods
pods's picture

Twitter stock. Solid fundamentals, poised for growth for the future.

Cramer told me so.


Mon, 01/06/2014 - 16:12 | 4305289 akak
akak's picture

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.

Mon, 01/06/2014 - 16:51 | 4305429 Simplifiedfrisbee
Simplifiedfrisbee's picture

Now, that was hilarious!

Mon, 01/06/2014 - 11:57 | 4304395 Obama_4_Dictator
Obama_4_Dictator's picture

Ben Bernakes beard? Yellin's bowl cut?

Mon, 01/06/2014 - 13:05 | 4304617 jmcadg
jmcadg's picture

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.

Mon, 01/06/2014 - 11:51 | 4304377 Rubbish
Rubbish's picture

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.

Mon, 01/06/2014 - 11:59 | 4304400 Mad Mohel
Mad Mohel's picture

Can you dig it? Can you dig it? CANNNN YOUUUU DIGGGGG ITTTTTTTTTTT?!

Mon, 01/06/2014 - 13:49 | 4304764 The Fonz
The Fonz's picture

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.

Mon, 01/06/2014 - 11:56 | 4304387 rubiconsolutions
rubiconsolutions's picture

"Why buy something that is so obviously manipulated?"

Like equities, bonds and US dollars?

Mon, 01/06/2014 - 12:03 | 4304405 Spungo
Spungo's picture

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.

Mon, 01/06/2014 - 12:13 | 4304430 bwh1214
bwh1214's picture

Because manipulations always fail, and the correction will be staggering.

Mon, 01/06/2014 - 12:48 | 4304573 Jonas Parker
Jonas Parker's picture

"Why buy something that is so obviously manipulated?"


Duh! I dunno. I'm just stupid, I guess...

Mon, 01/06/2014 - 13:16 | 4304652 holgerdanske
holgerdanske's picture

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!

Mon, 01/06/2014 - 13:35 | 4304726 Rubbish
Rubbish's picture

Oh contraire, you go physical because chicks dig it.

Mon, 01/06/2014 - 13:14 | 4304648 ArrestBobRubin
ArrestBobRubin's picture

Hoo boy. It's going to be hard to top this gem today...

Mon, 01/06/2014 - 14:20 | 4304919 fiftybagger
fiftybagger's picture

"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

Mon, 01/06/2014 - 11:40 | 4304349 dark pools of soros
dark pools of soros's picture

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!



Mon, 01/06/2014 - 12:08 | 4304411 oddjob
oddjob's picture

I suppose i could borrow from future generations like the government, but I'm not bankrupt.

Tue, 01/07/2014 - 02:05 | 4307089 CultiVader
CultiVader's picture

Fuck off troll

Mon, 01/06/2014 - 11:51 | 4304375 Papasmurf
Papasmurf's picture

why can't i buy this fucking dip?

Mon, 01/06/2014 - 11:48 | 4304376 SAT 800
SAT 800's picture

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.

Mon, 01/06/2014 - 12:36 | 4304521 Cognitive Dissonance
Cognitive Dissonance's picture

Maybe. The problem with your thesis is that the article that the Marketwatch story refers to was posted/published much earlier this morning.

Mon, 01/06/2014 - 12:56 | 4304595 Tinky
Tinky's picture

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?

Mon, 01/06/2014 - 14:27 | 4304947 SAT 800
SAT 800's picture

The rebound is self-explanatory.

Mon, 01/06/2014 - 14:27 | 4304944 SAT 800
SAT 800's picture

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.

Mon, 01/06/2014 - 13:32 | 4304716 holgerdanske
holgerdanske's picture

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!

Mon, 01/06/2014 - 21:37 | 4306320 StychoKiller
Mon, 01/06/2014 - 11:56 | 4304390 SAT 800
SAT 800's picture; 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.

Mon, 01/06/2014 - 15:07 | 4305092 blacktusk
blacktusk's picture

BullionVault is retarded too. It is purely paper BS prettied up to look like physical... Look at this option for delivery,

  1. Where the normal exit route to your bank remains viable, but you elect a physical withdrawal, then the cost is 2.5% for withdrawing whole gold bars, with a further 5% surcharge for withdrawals below 400 oz – to cover the cost of sourcing the necessary small bars or coins.

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??????



Mon, 01/06/2014 - 16:37 | 4305384 BigJim
BigJim's picture

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.

Mon, 01/06/2014 - 12:16 | 4304432 Abitdodgie
Abitdodgie's picture

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.

Mon, 01/06/2014 - 13:15 | 4304653 Exponere Mendaces
Exponere Mendaces's picture

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."


Mon, 01/06/2014 - 13:16 | 4304666 ArrestBobRubin
ArrestBobRubin's picture

Yup, you're right. Sauce for the goose and all that... 

Mon, 01/06/2014 - 13:31 | 4304693 Bastiat
Bastiat's picture

". . . a mere 2.8% decline"  

"Decline?"  You call that a "decline?"

Mon, 01/06/2014 - 15:12 | 4305100 Exponere Mendaces
Exponere Mendaces's picture


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...


Mon, 01/06/2014 - 17:25 | 4305544 Bastiat
Bastiat's picture

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.

Mon, 01/06/2014 - 11:24 | 4304293 hungarianboy
hungarianboy's picture

Time to buy!

Mon, 01/06/2014 - 11:27 | 4304294 Obchelli
Obchelli's picture

What's new?


Bullish for stocks...

Always fat fingers down never up...

Mon, 01/06/2014 - 11:56 | 4304389 OC Sure
OC Sure's picture

"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.

Mon, 01/06/2014 - 11:27 | 4304295 Seasmoke
Seasmoke's picture


Mon, 01/06/2014 - 11:39 | 4304347 css1971
css1971's picture

And you are going to scweeem and scweem and scweem till you get what you want?


Mon, 01/06/2014 - 12:09 | 4304419 Pool Shark
Pool Shark's picture



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...


Mon, 01/06/2014 - 11:40 | 4304351 realWhiteNight123129
realWhiteNight123129's picture

Don´t be mad, be glad and track the days of likely bullshit to have an outside of the market order!


Mon, 01/06/2014 - 11:24 | 4304296 DanTak
DanTak's picture

What to do know?

Mon, 01/06/2014 - 11:28 | 4304298 DanTak
DanTak's picture

how many ounces?

Mon, 01/06/2014 - 11:28 | 4304299 Racer
Racer's picture

Someone desperate to sell gold at any price, because it is just such an abundant easy to come by stuff

Mon, 01/06/2014 - 11:33 | 4304322 RafterManFMJ
RafterManFMJ's picture

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.

Mon, 01/06/2014 - 11:50 | 4304382 SAT 800
SAT 800's picture

!!  Well, let's watch that early morning drinking, OK? Your inspired sell orders are un-settling. LOL.

Mon, 01/06/2014 - 20:12 | 4306043 The Fonz
The Fonz's picture

Wait, they don't ask who you are? Lets try a 500 ton buy!

Mon, 01/06/2014 - 20:12 | 4306044 The Fonz
The Fonz's picture

Wait, they don't ask who you are? Lets try a 500 ton buy!

Mon, 01/06/2014 - 12:09 | 4304412 Uncle Remus
Uncle Remus's picture

Five bucks, outta the ground.

Mon, 01/06/2014 - 16:49 | 4305401 BigJim
BigJim's picture

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.

Mon, 01/06/2014 - 12:43 | 4304552 resurger
resurger's picture

When you see the ignorant masses not willing to buy 1Oz of gold for $5 - $15 , you know that this country is pretty much



Mon, 01/06/2014 - 14:52 | 4305036 Terminus C
Terminus C's picture

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.

Mon, 01/06/2014 - 17:25 | 4305541 MeelionDollerBogus
MeelionDollerBogus's picture

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.

Mon, 01/06/2014 - 11:25 | 4304300 Capitalist
Capitalist's picture

BIS on the offer.

Mon, 01/06/2014 - 11:37 | 4304335 Unknown Poster
Unknown Poster's picture

Probably the bid too.

Mon, 01/06/2014 - 11:25 | 4304301 Central Wanker
Central Wanker's picture

Highly entertaining.

Mon, 01/06/2014 - 11:27 | 4304305 FieldingMellish
FieldingMellish's picture

Stop loss wash using paper.

Mon, 01/06/2014 - 11:30 | 4304307 Bastiat
Bastiat's picture


Mon, 01/06/2014 - 11:59 | 4304391 debtor of last ...
debtor of last resort's picture

And it's not my pants i'm smelling.

Mon, 01/06/2014 - 16:14 | 4305308 Bastiat
Bastiat's picture

They tried the same thing on the 31st and got back in the face in spades--I like the pattern.

Mon, 01/06/2014 - 16:30 | 4305351 debtor of last ...
debtor of last resort's picture

Me too. But it's still just paper.... As long as there's paper they can play.

Mon, 01/06/2014 - 11:30 | 4304308 pods
pods's picture

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.


Mon, 01/06/2014 - 11:31 | 4304309 IridiumRebel
IridiumRebel's picture

Gold volatility portends crashes.

Mon, 01/06/2014 - 11:28 | 4304310 RaceToTheBottom
RaceToTheBottom's picture

Video games, friggin video games

Mon, 01/06/2014 - 11:31 | 4304313 FiatFapper
FiatFapper's picture

I don't think those red arrows on the top 2 charts are necessary.

Mon, 01/06/2014 - 11:32 | 4304317 rubearish10
rubearish10's picture

Same shit different year!

Mon, 01/06/2014 - 11:32 | 4304318 Racer
Racer's picture

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?!

Mon, 01/06/2014 - 11:33 | 4304321 Bobbyrib
Bobbyrib's picture

What a rigged, fucking joke. HFTers can game the market at their own discretion. If they screw up, they get "a do over."

Mon, 01/06/2014 - 11:39 | 4304354 El Hosel
El Hosel's picture

"IF" ... LOL

Mon, 01/06/2014 - 14:02 | 4304818 HardlyZero
HardlyZero's picture

Is Auric Goldfinger still cornering the physical Gold market (since 1964) ?

Mon, 01/06/2014 - 11:33 | 4304323 bozzy
bozzy's picture

Come in Nanex - analysis required

meanwhile - let me not distract you Americans from the main task -  FORK AND DANGLE !!!

Mon, 01/06/2014 - 11:34 | 4304330 El Hosel
El Hosel's picture

Someone Yellen Fat Finger, what a suprise. A day without a fat finger is like a day without a JPM indictment.

Mon, 01/06/2014 - 11:34 | 4304326 FiatFapper
FiatFapper's picture

ECB says negative rates are 'uncharted territory'

Mon, 01/06/2014 - 11:31 | 4304327 OhBaldOne
OhBaldOne's picture

Good try Jamie Dimon. You almost made the 2 billion you're going to need to pay off the DOJ!

Mon, 01/06/2014 - 11:35 | 4304331 Hubbs
Hubbs's picture

Reminds me to go book a vacation to Acapolco, MeX to see what the cliff diving buzz is all about.

Mon, 01/06/2014 - 11:37 | 4304332 FiatFapper
FiatFapper's picture

Atleast gold is painting a pretty 1hr bullish pinbar to dupe more buyers.

Mon, 01/06/2014 - 12:01 | 4304397 Quinvarius
Quinvarius's picture

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.

Mon, 01/06/2014 - 11:36 | 4304333 RobD
RobD's picture

Securities Regulator "Hey this seems to happen every day, must be normal"


Fucking bastards

Mon, 01/06/2014 - 11:34 | 4304334 realWhiteNight123129
realWhiteNight123129's picture

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.....



Mon, 01/06/2014 - 11:37 | 4304336 jubber
jubber's picture

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

Mon, 01/06/2014 - 11:34 | 4304338 MFLTucson
MFLTucson's picture

Who is responsible for this because time to act has approached.  

Mon, 01/06/2014 - 11:35 | 4304342 hugovanderbubble
hugovanderbubble's picture

Sell till 1088

Mon, 01/06/2014 - 11:38 | 4304343 Sudden Debt
Sudden Debt's picture

maybe bernanke is selling his coin collection on ebay and in some way it caused the price to drop?

Mon, 01/06/2014 - 12:08 | 4304408 youngman
youngman's picture

I wonder when Ben Bernanke retires they give him a GOLD watch???????   just askin...

Mon, 01/06/2014 - 12:22 | 4304457 Jam Akin
Jam Akin's picture

Yes, but the specific model provided is fastened with a paper clip...

Mon, 01/06/2014 - 11:36 | 4304345 monopoly
monopoly's picture

When will they ever learn. These idiots will not throw any of us out of the sector that is most under valued. Pathetic.

Mon, 01/06/2014 - 11:44 | 4304361 the grateful un...
the grateful unemployed's picture

chance for someone to buy $1250 gold for $1215. nice work if you can get it

Mon, 01/06/2014 - 11:48 | 4304366 swanpoint
swanpoint's picture

Kitco ticker didn't notice... Ok maybe a little.

Mon, 01/06/2014 - 11:45 | 4304370 realWhiteNight123129
realWhiteNight123129's picture

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.


Mon, 01/06/2014 - 11:48 | 4304371 GrinandBearit
GrinandBearit's picture

These paper bozos will NEVER shake me out.

Mon, 01/06/2014 - 13:39 | 4304740 fijisailor
fijisailor's picture

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 $.

Mon, 01/06/2014 - 11:49 | 4304373 DaddyO
DaddyO's picture

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.


Mon, 01/06/2014 - 11:50 | 4304383 pndr4495
pndr4495's picture

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.

Mon, 01/06/2014 - 11:59 | 4304393 Temporalist
Temporalist's picture

These things usually happen in threes...or is that people dying, plane crashes and natural disasters? 

Mon, 01/06/2014 - 12:02 | 4304404 vincent
vincent's picture

Just the facts...From Ted Butler via  Good read and he pulls no punches.



Mon, 01/06/2014 - 12:39 | 4304516 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

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.



Mon, 01/06/2014 - 12:11 | 4304416 Quinvarius
Quinvarius's picture

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.

Mon, 01/06/2014 - 12:10 | 4304423 bwh1214
bwh1214's picture

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!!!!

Mon, 01/06/2014 - 12:16 | 4304442 El Hosel
El Hosel's picture

I hate when this Blatent Fraud and Market Rigging is called "Maniplulation"... WTF, Bitchez.

Mon, 01/06/2014 - 12:25 | 4304460 bwh1214
bwh1214's picture

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.

Mon, 01/06/2014 - 12:15 | 4304441 vegas
vegas's picture

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.

Mon, 01/06/2014 - 12:17 | 4304445 bwh1214
bwh1214's picture

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.

Mon, 01/06/2014 - 12:43 | 4304538 paint it red ca...
paint it red call it hell's picture

I have it on good source that Phat Phincker works at he JP Morgue......

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