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Gold And Silver Tumble Most In A Month

Tyler Durden's picture





 

UPDATE: Some chatter that the earlier drop occurred around a story on the overhauling the London Gold fix (amid all the manipulation talk).

With no apparent news - who needs news - the precious metals market participants have decided that now is the time to sell, sell, sell in huge volume and all of a sudden... Gold is down 1.3% - its biggest drop in a month; and silver is down 2.8% - its biggest drop in 5 weeks. Gold has dropped back down to test its 50DMA and silver has crossed back down through it. Bonds are modestly bid, stocks ar enot moving on this collapse and the USD is hardly budging.

 

 

 

 


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Tue, 01/21/2014 - 09:33 | Link to Comment Capitalist
Capitalist's picture

I thought it was because of the Hilsenrath piece?

Tue, 01/21/2014 - 09:38 | Link to Comment Abitdodgie
Abitdodgie's picture

Goldcoin stackers get once again robed by the Bankers , must be a good time to buy some more Goldcoin .

Tue, 01/21/2014 - 09:39 | Link to Comment BoNeSxxx
BoNeSxxx's picture

Not unexpected since Monday was a holiday...

Start the week off with a monkey-hammering.  SSDD.

Tue, 01/21/2014 - 09:45 | Link to Comment Croesus
Croesus's picture

"There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

Is it any surprise to ANYONE, that BANKERS engage in the DESTRUCTIVE SIDE of HUMAN BEHAVIOR??? 

Just a thought. 

Croesus

 

 

Tue, 01/21/2014 - 09:46 | Link to Comment Xibalba
Xibalba's picture

Too many ppl want it, so they cut the price.  Sounds academic to me. 

Tue, 01/21/2014 - 10:22 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

I find the whole gold manipulation story quite amusing. Every narcisist has a reason why he or she cannot or should not lose. The narcisistic gold investor is no different. At every turn of the market, he is either vindicating his ridiculousl elaborate conspiracy theories or crying about the powers that be 'confiscating' his unrealised profits. Every investor hates to lose, but goldbugs are a special kind of loser. They're not just bitter about losing, they genuinely convinced that the universe owes them a return.

Tue, 01/21/2014 - 10:31 | Link to Comment fijisailor
fijisailor's picture

Yea.  The FED's own admission that it needs to manipulate the gold price is just a fantasy.

Tue, 01/21/2014 - 10:59 | Link to Comment fonestar
fonestar's picture

They could of course, just invest in Bitcoin which is not manipulated.  Take profits and buy 0ldcoin if that's what they want to do.... but of course that would break their simple little dollar-gold minds in a million pieces.

Bitcoin, simplest buy-and-hold ever.

Tue, 01/21/2014 - 11:01 | Link to Comment Sofa King Confused
Sofa King Confused's picture

nofiatcoin.com

Tue, 01/21/2014 - 11:53 | Link to Comment fonestar
fonestar's picture

.....will prove why you don't want altcoins "backed" by anything tangible.

Tue, 01/21/2014 - 13:29 | Link to Comment JohnnyBriefcase
JohnnyBriefcase's picture

You are easily one of the most annoying Internet personas ever.
I hope DARPA gives you a nice bonus this year.

Tue, 01/21/2014 - 21:13 | Link to Comment StychoKiller
StychoKiller's picture

Perhaps if we all type that we're rabid Bitcoin holders also, he'll go bother some other website...

Tue, 01/21/2014 - 11:12 | Link to Comment fijisailor
fijisailor's picture

I'm hoping my bitcoins pass on from generation to generation so that in 5000 years they will be really rich.

Tue, 01/21/2014 - 13:03 | Link to Comment BitStorm
BitStorm's picture

I'd bet that in 500 (maybe 50) years people/governments will develop the means to convert other elements into gold. It has already been done successfully, just not profitable at this time. You really want to see manipulation? Better cover your options.

Tue, 01/21/2014 - 15:21 | Link to Comment giggler321
giggler321's picture

>>I'd bet that in 500 (maybe 50) years people/governments will develop the means to convert other elements into gold. It has already been done successfully, just not profitable at this time. You really want to see manipulation? Better cover your options

 

Yep, just as they proclaim Alien's have landed?  There here man.

 

Did you know we can create diamonds out of peanut butter?  Except they just arn't like the *real* diamonds and sell in their own market at a reduced price, want a ring?  Funny man kind just can't seem to compete with god - good job he never created a fiat...

Tue, 01/21/2014 - 11:21 | Link to Comment eclectic syncretist
eclectic syncretist's picture

You are about as likable as Ezra was, jackass.

Tue, 01/21/2014 - 11:52 | Link to Comment fonestar
fonestar's picture

...I take that as a wonderful compliment actually.  Ezra Pound was a great man.

Tue, 01/21/2014 - 11:13 | Link to Comment douglas
douglas's picture

If at this stage you are not COMPLETELY conviced that PM's are highly manipulated to maintain control of a colapsing fiat monetary system then you probably have no business owning any precious metals besides personal jewelry - I would recommend that at this point you stop reading here, close out Zero Hedge and turn on MSNBC.  

If on the other hand you are awake and can see that not only are we waist-deep in manipulation but ever-nearer to a Global Monetary Colapse, then you should be COMPLETELY convinced that it's only a question of time before TPTB lose the ability to continue said manipulation.  If this is the case you should like me be rooting for the price of PM's to go down so you can aquire more.  Rather than complaing about the manipulatuion, be thankful for it and continue to increase your holdings. After all, the day TPTB finally lose control, the world will become a much sadder place and comforts which we now enjoy will go away for the majority of the people of this world. The best part of all this is that even if we are wrong about the current economic situation (which all evidence proves we are not) your life will be no worse for having a large horde of Gold and Silver.

Tue, 01/21/2014 - 11:40 | Link to Comment MeMongo
MeMongo's picture

Here Here!

Well said, simple and to the point. Just the way simpletons like MDB wont understand:-)

Tue, 01/21/2014 - 10:45 | Link to Comment Quinvarius
Quinvarius's picture

Interesting.  The people who own the only asset class which, based on historical evidence, was predicted to work this quater century, and has worked this quarter century, are "a special kind of loser".  Your sarcasm goes too far.  It just sounds bitter...Like a Jen Brister joke. 

Tue, 01/21/2014 - 09:50 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Let me be clear; When fraud is the status quo, possession is the law.

This is all you need to know.

Tue, 01/21/2014 - 09:56 | Link to Comment Sudden Debt
Sudden Debt's picture

from 112 to 113

Tue, 01/21/2014 - 09:49 | Link to Comment remain calm
remain calm's picture

Compared to the overall Global market cap Gold is small piece. It will be easy to manipulate until the physical market is totally locked up. When that happens it will be game over, but I am sure the bankers will have their fair share.

Tue, 01/21/2014 - 09:50 | Link to Comment Sudden Debt
Sudden Debt's picture

LET THEM FEEL WHO'S THE BOSS BITCHEZ!!! IT'S SLAPPING TIME!!

Tue, 01/21/2014 - 10:02 | Link to Comment A82EBA
A82EBA's picture

Your gold does not care how it's priced in USD

Tue, 01/21/2014 - 09:45 | Link to Comment Event Horizon
Event Horizon's picture

It is time to accumulate on dips... thank you monkey

Tue, 01/21/2014 - 11:25 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Gold and silver may be getting beat down in thin pre-market trading, what's interesting is that miners are up anyway.  A rise in miners on a down day for gold increases confidence that the recent rise in miners may be the start of a real trend, and rises in gold and silver are often preceded by rises in miners.  In other words, it's a good day to buy physical!

Tue, 01/21/2014 - 09:34 | Link to Comment IridiumRebel
IridiumRebel's picture

HFT: Hammer Fuck Technology

Tue, 01/21/2014 - 10:03 | Link to Comment BandGap
BandGap's picture

Protect your relics. Here is a very inexpensive way keep the varmits away.

http://www.galleryofguns.com/genie/default.aspx?item=51329

Remembe, sweep side to side.

Tue, 01/21/2014 - 09:37 | Link to Comment buzzsaw99
buzzsaw99's picture

Inconceivable! [/Vizzini]

Gold = Iocane flavored Kool Aide

Tue, 01/21/2014 - 09:37 | Link to Comment jubber
jubber's picture

and all the earlier bond moves have now revesed, Bund back to LOD

Tue, 01/21/2014 - 09:36 | Link to Comment LawsofPhysics
LawsofPhysics's picture

and for that we simply say "thank you".  Can't wait for gold to "tumble" back under $500 an ounce.  Sounds good to me.

Tue, 01/21/2014 - 09:42 | Link to Comment TeamDepends
TeamDepends's picture

Never gonna happen.  If recent smackdowns are any indication, PMs could finish the day green.

Tue, 01/21/2014 - 09:47 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Ya think?  Looks like I need to start using my < sarc > flags again...

Tue, 01/21/2014 - 09:51 | Link to Comment pods
pods's picture

$500 an oz won't even get me to dig it out of the ground.

Well, I will still do it, but that is just because it is fun. But no big miners will.

pods

Tue, 01/21/2014 - 10:02 | Link to Comment unwashedmass
unwashedmass's picture

feel the same way. bought first ounce at 400. wake me when they end this smack. 

by the by, does anyone anywhere deal in the real thing any more? Or can I sell paper on my hard stuff? 

Tue, 01/21/2014 - 10:02 | Link to Comment unwashedmass
unwashedmass's picture

feel the same way. bought first ounce at 400. wake me when they end this smack. 

by the by, does anyone anywhere deal in the real thing any more? Or can I sell paper on my hard stuff? 

Tue, 01/21/2014 - 09:52 | Link to Comment Winston Churchill
Winston Churchill's picture

My fault.

Loaded up the eighteen wheeler on Saturday.

My bad.

Tue, 01/21/2014 - 09:49 | Link to Comment kralizec
kralizec's picture

Yes, We've seen this script many times many times.

Tue, 01/21/2014 - 09:37 | Link to Comment fonzannoon
fonzannoon's picture

anyone who expects anything other than moar of the same with this needs immediate medical attention. 

Tue, 01/21/2014 - 09:43 | Link to Comment slotmouth
slotmouth's picture

I started buying gold last month; hopefully this headache isn't a brain tumor.

Tue, 01/21/2014 - 11:39 | Link to Comment SWCroaker
SWCroaker's picture

Started back in '07.   It *is* a brain tumor, but oddly enough while it hurts like a mofo, its side effects are dogged determination, sanity, and underlying robust health.  Very weird for a tumor.

Tue, 01/21/2014 - 09:47 | Link to Comment new game
new game's picture

fonz - i moved firmly into your camp-shed the cog dis.

ten year at 2.5 handle soon-reramp r.e.

all on plan or mdoified plan to smooth any bumps.

don't fight the central banana repub planners.

edit. plus trying to post less(not easy-we must have some histrionic behavioral issues-lol)!

Tue, 01/21/2014 - 09:47 | Link to Comment fijisailor
fijisailor's picture

heart surgery or psychotropic drugs?

Tue, 01/21/2014 - 09:48 | Link to Comment cro_maat
cro_maat's picture

Dependability! Predictability! These are the keywords of the CB regime. Kind of like that well worn teddy bear provided by Mom and Dad when we were kids to help us feel secure and loved! We should all send out our heartfelt thanks to Christine Lagard for this wonderful buying opportunity of MHBR (Monkey Hammered Barbaric Relic). /s

Tue, 01/21/2014 - 09:37 | Link to Comment youngman
youngman's picture

it must be the Germans selling all that gold they just got repatriated

Tue, 01/21/2014 - 09:40 | Link to Comment Yellowhoard
Yellowhoard's picture

No need for an atomic clock.

I set my watch every Monday morning, in this case Tuesday thanks MLK, at 8 AM by watching the price of gold getting dumped.

Tue, 01/21/2014 - 09:41 | Link to Comment firstdivision
firstdivision's picture

But...but...but...BoA analysis. 

So I'm going to start calling around to dealers and tell them I'll pay $5 over spot, and lets see how many will sell...oh wait they don't care about paper prices.

Tue, 01/21/2014 - 09:44 | Link to Comment buzzsaw99
buzzsaw99's picture

they PAY spot. you offering $5 over is an insult.

Tue, 01/21/2014 - 09:46 | Link to Comment firstdivision
firstdivision's picture

Not when it's going to get monkey hammered, but yes it is an insult.  Just convince them that they would be better off buying BTC and selling gold to me is worth a "consulting fee" to knock off the premium from spot.

Step 1: Sell paper promises for gold/silver

Step 2: Buy physical gold/silver

Step 3: Open a beer and ????

Step 4: Real profit

Tue, 01/21/2014 - 09:54 | Link to Comment buzzsaw99
buzzsaw99's picture

Booze stores better than beer and doesn't take up as much space.

My dealer sold all his gold and silver near the recent top. Now all orders must be paid for in advance and with the profit margin tacked on top of the spot price paid. They aren't going to pay YOU above spot ever.

Tue, 01/21/2014 - 11:22 | Link to Comment chindit13
chindit13's picture

If you buy 400 oz bars, even Kitco will sell $6 over spot.  Look elsewhere, and negotiate, you can do $4 or less.  Paper price works just fine for them.

If you are retail, however, expect to pay the retail spread.  You've been led astray by the Promoters.

Tue, 01/21/2014 - 12:57 | Link to Comment KnightTakesKing
KnightTakesKing's picture

I suspect there aren't a lot of folks that buy 400 oz bars. For most it's AGE, AGBuffalos, Maples or gold Krugerrands.  In which case you are paying $50 to $90 premiums. 

Tue, 01/21/2014 - 09:41 | Link to Comment eddiebe
eddiebe's picture

Sez the fractional reserve team: We Must maintain control!

Tue, 01/21/2014 - 09:41 | Link to Comment mick_richfield
mick_richfield's picture

What is the normal, or historical,  ratio of COMEX AU open interest to actual registered metal?

Right now it's over a hundred to 1.

Tue, 01/21/2014 - 09:41 | Link to Comment fijisailor
Tue, 01/21/2014 - 10:11 | Link to Comment Millivanilli
Millivanilli's picture

beforeitsnews?

 

Really.   Like WND or Debka, this is unadulterated horseshit.

Tue, 01/21/2014 - 10:21 | Link to Comment fijisailor
fijisailor's picture

I certainly hope so.

Tue, 01/21/2014 - 10:32 | Link to Comment HamRove
HamRove's picture

Says the guy named MILLIVANILLI....LOL

Tue, 01/21/2014 - 09:42 | Link to Comment Sudden Debt
Sudden Debt's picture

sorry guys... I was putting in a buy order and they must have scanned my computer and gone the other way 1 hour to early...

Tue, 01/21/2014 - 09:43 | Link to Comment Uncle Sugar
Uncle Sugar's picture

I will keep buying all the way down to $0.  My kids can melt it down and make a big gold casket to bury me in if they want. I will not be fooled by the 'fractional reserve fiat miracle'.

Tue, 01/21/2014 - 09:55 | Link to Comment Sudden Debt
Sudden Debt's picture

you're a midget?

Tue, 01/21/2014 - 10:17 | Link to Comment SoilMyselfRotten
SoilMyselfRotten's picture

He owns GLD, it'll only be gold plated

Tue, 01/21/2014 - 10:45 | Link to Comment Uncle Sugar
Uncle Sugar's picture

Anything under $10/oz and I can afford enough for a full size casket.  Don't bury me in paper promises!

Tue, 01/21/2014 - 12:19 | Link to Comment rqb1
rqb1's picture

You wont stay buried for long.

Tue, 01/21/2014 - 10:35 | Link to Comment fockewulf190
fockewulf190's picture

These bozos are lowering the price knowing...KNOWING that the people and powers out east are going to feast on the cheap phyzz faster than a hungry vampire next to girl's neck. The situaton must be beyond desperate. Last Friday's COT report shows monster long and short moves. Could be bogus, but something big is up.
Don't worry about the fiat price, just get your hands on the phyzz before it evaporates. You'll be seeing swings in price much crazier than this when the death convulsions start.

Tue, 01/21/2014 - 13:00 | Link to Comment KnightTakesKing
KnightTakesKing's picture

Tell me where you'll be buried. I want to stop by and, ah... pay my respects. [hides shovel]

Tue, 01/21/2014 - 09:44 | Link to Comment the not so migh...
the not so mighty maximiza's picture

allot paper gold

Tue, 01/21/2014 - 09:44 | Link to Comment BandGap
BandGap's picture

0.75 ounces of Au, 250 rounds of 12 gauge buckshot. Good way to start the week.

Tue, 01/21/2014 - 09:46 | Link to Comment Harry Dong
Harry Dong's picture

Looking into buying a monster box but the weekly chart looks like a big forced manipulate d descending triangle. I'm waiting for 15 oz. Or I'll wait for 25 on the rocket back up.   

Either way in the long run it's a no brainer...buy it hold it and forget it.  Just not now.

Tue, 01/21/2014 - 09:46 | Link to Comment Dr. Engali
Dr. Engali's picture

There is no manipulation....there is no manipulation .....click click click....there is no.....

Tue, 01/21/2014 - 09:53 | Link to Comment Jim B
Jim B's picture

Where is Bart! (/S)

Tue, 01/21/2014 - 12:10 | Link to Comment Greenskeeper_Carl
Greenskeeper_Carl's picture

Gittin' his hair did!

Tue, 01/21/2014 - 09:49 | Link to Comment Racer
Racer's picture

And again China is extremely pleased at this gift

Tue, 01/21/2014 - 09:48 | Link to Comment disabledvet
disabledvet's picture

And JPM will just keep on buying. Gold and Silver both actually. Normally I would say the same is true for Morgan/Stanley too...but that might have to be done on a trader per trader BASIS. We'll see how much longer the energy folks can keep up the "energy trading complex." They're are only so many cold weather blasts per year left now...and once springtime hits there will be a lot of people growing their own food, turning off the electricity, buying propane and simply no longer paying their taxes. If that doesn't work they'll abandon the property...although its hard to see how that's worth anything to anybody. "long smelting." and i ain't talking fish.

Tue, 01/21/2014 - 09:50 | Link to Comment Seasmoke
Seasmoke's picture

What a fucking joke. 

Tue, 01/21/2014 - 09:51 | Link to Comment laomei
laomei's picture

Do I have to bang it into your heads for you to get it?

Here... I even bothered to post literally exactly the way it's working.

http://www.zerohedge.com/news/2014-01-18/physical-gold-shortage-goes-mai...

 

Who said ride the $30 drop and sweep up? Oh right, that was me.  You're very welcome to all those who bothered to notice that the only reason I mentioned it in that comment was because I had been spending a while (just then as it happens) researching the next coordinating vesting date.

 

You're welcome.  I'll be enjoying my 6% as well as my $12k muppet money.

Tue, 01/21/2014 - 10:06 | Link to Comment fijisailor
fijisailor's picture

Thanks.  Now I'm filthy rich after 3 days of following your advice.

Tue, 01/21/2014 - 11:25 | Link to Comment Vooter
Vooter's picture

Nobody cares.

Tue, 01/21/2014 - 09:51 | Link to Comment game theory
game theory's picture

Gold...made in China.

Tue, 01/21/2014 - 09:54 | Link to Comment the6thBook
the6thBook's picture

hmmm shouldn't tresuries be above 3% if we are getting more taper?

 

Tue, 01/21/2014 - 09:58 | Link to Comment Ulterior
Ulterior's picture

can you repeat what you said?

Tue, 01/21/2014 - 09:59 | Link to Comment Sudden Debt
Sudden Debt's picture

yes

Tue, 01/21/2014 - 09:54 | Link to Comment the6thBook
the6thBook's picture

hmmm shouldn't tresuries be above 3% if we are getting more taper?

 

Tue, 01/21/2014 - 09:59 | Link to Comment Ulterior
Ulterior's picture

once more, I couldnt understand it

Tue, 01/21/2014 - 09:59 | Link to Comment Sudden Debt
Sudden Debt's picture

no

Tue, 01/21/2014 - 09:54 | Link to Comment the6thBook
the6thBook's picture

hmmm shouldn't tresuries be above 3% if we are getting more taper?

 

Tue, 01/21/2014 - 09:59 | Link to Comment Ulterior
Ulterior's picture

OH, I see...

Tue, 01/21/2014 - 09:59 | Link to Comment Sudden Debt
Sudden Debt's picture

maybe

Tue, 01/21/2014 - 09:56 | Link to Comment Ulterior
Ulterior's picture

my plan to dump losing positions on 1400 have been postponed

Tue, 01/21/2014 - 09:57 | Link to Comment thismarketisrigged
thismarketisrigged's picture

its funny how the pm markets always have big pullbacks after tiny run ups, yet the fucking equity markets see a 1 percent down day and then they spike it up like 10 percent.

 

this year is the same shit as last, ''markets'' will always be green for equities and pm markets will always get slammed because this si the fucked up world we live in today.

Tue, 01/21/2014 - 09:58 | Link to Comment Spungo
Spungo's picture

"hmmm shouldn't tresuries be above 3% if we are getting more taper?"
t'other way 'round. Ending QE will crash the stock market. People will rotate out of stocks and into bonds, driving the interest rate down.

Tue, 01/21/2014 - 10:03 | Link to Comment LawsofPhysics
LawsofPhysics's picture

That would appear to be the plan, if there are enough people to "rotate".

Liabilities still need to be funded, and they can't be if interest rates go up much more.

Perhaps if they wanted people to "rotate" they shouldn't have killed the market in the first place?

Tick tock motherfuckers...

Tue, 01/21/2014 - 10:11 | Link to Comment BandGap
BandGap's picture

Abso-fucking-lutely

Bonds are not a "safe" place to be. When even munis are being kicked in the balls..........

Schizophrenia by force

Tue, 01/21/2014 - 10:05 | Link to Comment Random_Robert
Random_Robert's picture

Hmmmm...

Did Dennis Gartman go on CNBC this morning and announce he was going long gold?

 

 

Tue, 01/21/2014 - 10:20 | Link to Comment El Hosel
El Hosel's picture

.... Thats long OF gold. I shall, I said.

Tue, 01/21/2014 - 10:05 | Link to Comment Calculus99
Calculus99's picture

Bulls, we need these sharp selloffs to see what the reaction is. Plenty of hot money  always shorts into these moves because often it's a $10-$20 banker bet. But let's wait and see what happens. 

Anyways, if you're a bull and worried about a little smackdown, you're actually PUSSY BULL.

Tue, 01/21/2014 - 10:32 | Link to Comment Ulterior
Ulterior's picture

lets see how Darwin sorts these bulls out :)

Tue, 01/21/2014 - 10:07 | Link to Comment GrinandBearit
GrinandBearit's picture

Funny how short sighted and dramatic ZH has become.

I have dry powder waiting for $1000 gold... bring it on!

Tue, 01/21/2014 - 10:07 | Link to Comment monopoly
monopoly's picture

OK, fine then. I will buy more. This is supposed to scare us out of our positions. I don't think so. 

Tue, 01/21/2014 - 10:11 | Link to Comment A82EBA
A82EBA's picture

What would gold be worth today had we never left the gold standard?

Tue, 01/21/2014 - 10:34 | Link to Comment ltsgt1
ltsgt1's picture

It would still be $35/oz and a gallon of gasoline would be like 10cents.

Tue, 01/21/2014 - 10:12 | Link to Comment SheepDog-One
SheepDog-One's picture

I heard it's because ObaMao is supposedly black.

Tue, 01/21/2014 - 10:14 | Link to Comment tmosley
tmosley's picture

Naturally.  When the PM markets are reveale to be fraudulent, people will get out of them.  Lots of paper contracts being dumped.  This will end either with PM prices at "zero" or with the exchanges shutting down and forcing cash settlement of all outstanding contracts.

Only then can we have true price discovery.

And for the idiots out there, no, you won't be able to get PMs at spot prices during this time, if at all.

Tue, 01/21/2014 - 11:07 | Link to Comment El Hosel
El Hosel's picture

"True Price Discovery" .... The other relic.

Tue, 01/21/2014 - 12:07 | Link to Comment Drifter
Drifter's picture

"When the PM markets are reveale to be fraudulent, people will get out of them."

When the commodity doesn't have to be delivered (dollars can be delivered instead), it's no longer a commodity market, it's a casino game, just betting on what a number will be at some date in the future.

Knowing Fed's desire to keep the imaginary "spot price" low on gold /silver to make USD appear stronger, and people are willing to accept that imaginary "spot price" for real gold / silver, it's the bargain of a lifetime, buy whatever you can afford.

When will this imaginary "spot price" casino game end?   When USD loses reserve currency status.  Not before.

If you know when USD will lose reserve status, you can wait till just before that moment to buy real gold / silver and get the lowest price.

I don't know when USD will lose reserve status, but I know it will happen suddenly, and there won't be any warning signs / signals / etc.

Actually there might be a signal.  Another gold confiscation EO in America.  I half way expect it.  If it does happen, I can guarantee USD is about to lose reserve status.

 

 

Tue, 01/21/2014 - 14:20 | Link to Comment SAT 800
SAT 800's picture

You can buy all the Gold and Silver you want at the paper price right now. Because the paper price is the only price there is. Of course if you insist on buying coins and trinkets you're going to pay more for them; but the quoted price is for bullion; 1000oz. bars in the case of Silver. The PM markets are not fraudulent; we already have true price discovery. there are some nice free energy motors on U-Tube you might be interested in.

Tue, 01/21/2014 - 10:13 | Link to Comment The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Gold has tested $1250.00, what does that mean? Nothing. No one can predict the price of it as it's 100000000000000000000000% manipulated. I'm still stacking as much as I can

Tue, 01/21/2014 - 10:17 | Link to Comment El Hosel
El Hosel's picture

.... Chop chop, Silver was on sale here just under $20 all the way back in July. Sideways Bitchez.

Tue, 01/21/2014 - 14:13 | Link to Comment SAT 800
SAT 800's picture

Correct; or as we say sometimes, long term bottom formation. a trading range with a possible double bottom. I would guess the odds are 70/30 the price will be higher this Christmas than it is now. When you leave out all the wiggles and jiggles we're just watching the world's opinion of the dollars' buying power; which has been declining since 1913; unless you can think of a reason why that won't continue, the odds favor a lower value for the dollar; or as we say, a higher Silver "price".

Tue, 01/21/2014 - 10:15 | Link to Comment moman
moman's picture

Banksters are desperate, Hilsenrath has his mouth firmly attached to Bernanke's wang (chek out his bio) and as far as the  LBMA  they are by def.  {The LBMA is the international trade association that represents the market for gold and silver bullion, which is centred in London but has a global client base, including the majority of the central banks that hold gold, private sector investors, mining companies, producers, refiners and fabricators.   Never forget, .................................."He who has the GOLD makes the rules"..............................................................

Any ?

Tue, 01/21/2014 - 10:40 | Link to Comment mijev
mijev's picture

After next month he'll have his mouth firmly attached to yellen's wang. I seriously hope no one takes photos. 

Tue, 01/21/2014 - 10:15 | Link to Comment moman
moman's picture

Banksters are desperate, Hilsenrath has his mouth firmly attached to Bernanke's wang (chek out his bio) and as far as the  LBMA  they are by def.  {The LBMA is the international trade association that represents the market for gold and silver bullion, which is centred in London but has a global client base, including the majority of the central banks that hold gold, private sector investors, mining companies, producers, refiners and fabricators.   Never forget, .................................."He who has the GOLD makes the rules"..............................................................

Any ?

Tue, 01/21/2014 - 10:21 | Link to Comment resurger
resurger's picture

The beast is cornered..

Tue, 01/21/2014 - 10:22 | Link to Comment Sword61
Sword61's picture

Early days of the Australian Colonies Rum was used as currency. Stacking bottles might be the way to go.

Tue, 01/21/2014 - 13:34 | Link to Comment tenpanhandle
tenpanhandle's picture

Been there; done that...burp...

Tue, 01/21/2014 - 10:25 | Link to Comment newworldorder
newworldorder's picture

Despite all the positive Gold stories in the news and especialy the German Gold repatriation problems, the weekly slapdown continues.

This is the continued slap in the face, perpetual middle finger raised to the face of all who wish true price discovery for the PM. It is meant to display the power of the Central Banksters, FED and BIS for all the "little people" to see and fear.

Governments will NOT regulate, Banksters are not held accountable and most important of all, it reinforces the statement that, THERE IS NOTHING ANYONE CAN DO TO STOP IT.

Tue, 01/21/2014 - 11:43 | Link to Comment Vooter
Vooter's picture

"THERE IS NOTHING ANYONE CAN DO TO STOP IT."

Except to buy and hold the phyzz...

Tue, 01/21/2014 - 10:26 | Link to Comment SlipStitchPass
SlipStitchPass's picture

Most of the Junior Mining stocks are bid higher than the close on Friday this morning? It is an upsidown world.

Tue, 01/21/2014 - 10:27 | Link to Comment El Hosel
El Hosel's picture

M&A starting to pickup in JR Miners

Tue, 01/21/2014 - 10:42 | Link to Comment SlipStitchPass
SlipStitchPass's picture

I like LSG as a buyout candidate. Have a fairly large position. Usually means I will loose a lot of money. :)

Tue, 01/21/2014 - 14:12 | Link to Comment El Hosel
El Hosel's picture

GPL,HL,VGZ,RBY, PLM,MUX,.... JRs are way off the lows and cookin while the metal goes sideways.

Tue, 01/21/2014 - 10:26 | Link to Comment OC Sure
OC Sure's picture

Won't gold keep making lower lows until the news is out?

Tue, 01/21/2014 - 10:35 | Link to Comment El Hosel
El Hosel's picture

News comes out everyday, gold has NOT gone lower  ( since the July low )...... Sideways for the last 6 months. 

Tue, 01/21/2014 - 10:58 | Link to Comment OC Sure
OC Sure's picture

Beginning in August 2011 it went sideways for over 12 months. THE news hasn't come out yet, has it?

Tue, 01/21/2014 - 11:19 | Link to Comment Vooter
Vooter's picture

Oh, christ...Chas Caldwell is here...

Tue, 01/21/2014 - 10:28 | Link to Comment moman
moman's picture

Wher is Prof. Bill Black when we need him?

http://www.youtube.com/watch?v=oUHS7TVVgww

Tue, 01/21/2014 - 10:29 | Link to Comment orangegeek
orangegeek's picture

Silver should continue to move sideways / up (same for gold) as it completes its next move up.

 

http://bullandbearmash.com/chart/spot-silver-daily-continues-higher-clos...

 

Expect to see big swings as stops get picked off before the next move higher - the trend higher may last a few more months

Tue, 01/21/2014 - 11:04 | Link to Comment El Hosel
Tue, 01/21/2014 - 10:28 | Link to Comment Quinvarius
Quinvarius's picture

As soon as I saw KWN interviewed James Turk this weekend, I was pretty sure the bankers would be furious enough to dig their hole a little deeper this AM.  They get so cantankerous when he calls them out.

Tue, 01/21/2014 - 10:39 | Link to Comment Shed Boy
Shed Boy's picture

Gold should do this and Silver should do that and according to my chart...blah...blah...blah. All you "prognasticators" should just shut up. NOBODY knows nuthin, your all just guessing. The system is 100% rigged, therefore YOU won't know whats up. Buy it, stash it and wait for the big reset. In the meantime, STOP TRYING TO OUTGUESS THE RIGGED MARKET!

Tue, 01/21/2014 - 10:52 | Link to Comment Rubbish
Rubbish's picture

I'm running out of ocean

Tue, 01/21/2014 - 11:22 | Link to Comment Shed Boy
Shed Boy's picture

I'm long bathyscaphes

Tue, 01/21/2014 - 10:48 | Link to Comment Hulk
Hulk's picture

If I had 3 million paper ounces, I'd be selling about now too,

"Hello Tulving, this is the HULK, send me 3 million maples immediately !!! "

Tue, 01/21/2014 - 10:56 | Link to Comment SlipStitchPass
SlipStitchPass's picture

You will be waiting a while for that pissed off mook to send you anything. I waited 95 days for my last gold order. NEVER AGAIN! PS: Fuck You Hannes!

Tue, 01/21/2014 - 13:06 | Link to Comment KnightTakesKing
KnightTakesKing's picture

Texas Precious Metals. They only sell what they have in stock and they are rarely out of stock.

Tue, 01/21/2014 - 10:49 | Link to Comment IridiumRebel
IridiumRebel's picture

Get ready for this shit to tumble further...I JUST BOUGHT GDXJ!!!!!!!! Fukt.

Tue, 01/21/2014 - 11:13 | Link to Comment Clint Liquor
Clint Liquor's picture

Something is going on. All my Miners are up this morning.

Tue, 01/21/2014 - 11:30 | Link to Comment ltsgt1
ltsgt1's picture

This something reminds me of a headless chicken running into walls. However, I wouldn't be surprised if this headless chicken fly.

Tue, 01/21/2014 - 13:37 | Link to Comment tenpanhandle
tenpanhandle's picture

Typical piss hard-on; not to worry.  If they are still up in 4 hours call Dr. Krugman.

Tue, 01/21/2014 - 11:18 | Link to Comment Vooter
Vooter's picture

Yawn...

Tue, 01/21/2014 - 11:55 | Link to Comment The Wisp
The Wisp's picture

So 50 Down Arrows is a Troll Flag ? here i thought you guys were just picking on some Poor Intelligent Dude from the Banks

Tue, 01/21/2014 - 11:59 | Link to Comment fijisailor
fijisailor's picture

I've changed my thinking.  Every time the price goes down I think that soon we will get true physical PM price discovery via the difference between the paper price and the physical premiums.  Every time the price goes up I start thinking OK lots of spec longs coming back into the market and the paper ponzi is on again.  Unless we get some real defaults here this is all I read into price changes.  I like the dips better for the phys buying opportunity but even my LCS has higher premiums than a year ago.

Tue, 01/21/2014 - 13:42 | Link to Comment tenpanhandle
tenpanhandle's picture

Anyone who buys the paper deserves what they get but you'd think when they keep getting it long, hard and over and over they'd run for the hills.

Tue, 01/21/2014 - 12:03 | Link to Comment moman
moman's picture

If the U.S. had the Germans gold what a better way to knock the price down, but they can't deliver, they have show their hand, nuff said.

Tue, 01/21/2014 - 12:29 | Link to Comment NoWayJose
NoWayJose's picture

I saw an article this weekend about how central banks were leasing gold out to big banks in the 1990's in exchange for IOUs and a token amount of interest. The gold was transferred at cheap 1990's prices, leading the author to speculate that central banks may not have much physical gold today. The big banks then sold that gold and used the money for more speculative investments. (There are many such similar stories)

This made me think about how the big banks would act in 2008/2009 and how they would act today. Maybe, the big banks said to the Fed in 2008/2009 something like "if you want to ever see all your gold again, don't let us go under." Thus the TARP and QE bailouts - as much to save the Fed's gold as the banks themselves. And today the big banks are looking at getting out of commodities, but need to buy much more expensive gold to give 'back' to the Fed to replace what they borrowed. Thus the attempts by both the big banks and Fed to drive down the price. This would also explain the delay in German deliver, as the big banks asked for 7 years to get the gold back to the Fed. And of course, the big banks don't want to give back $1200 gold today to replace the $300 gold they borrowed, thus the very low amount that the Fed got back in 2013.

Tue, 01/21/2014 - 13:16 | Link to Comment moman
moman's picture

But without an audit we will never know!

Tue, 01/21/2014 - 13:46 | Link to Comment tenpanhandle
tenpanhandle's picture

I saw that same article - in the 1990's.  Welcome aboard.

Tue, 01/21/2014 - 13:11 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Ah, the joys of making FRNs on s Gold Sideways market, if you're a PM Broker.  Action = Fees

The golden showers (trickle on, not trickle down) will continue at the discretion of TPTB.  You may want to plan/allocate accordingly.

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