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.




Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 01/21/2014 - 09:38 | 4351235 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 | 4351240 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 | 4351253 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. 




Tue, 01/21/2014 - 09:46 | 4351274 Xibalba
Xibalba's picture

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

Tue, 01/21/2014 - 10:22 | 4351385 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 | 4351413 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 | 4351472 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 | 4351480 Sofa King Confused
Sofa King Confused's picture

Tue, 01/21/2014 - 11:53 | 4351628 fonestar
fonestar's picture

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

Tue, 01/21/2014 - 13:29 | 4351917 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 | 4353916 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 | 4351512 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 | 4351839 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 | 4352494 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 | 4351541 eclectic syncretist
eclectic syncretist's picture

You are about as likable as Ezra was, jackass.

Tue, 01/21/2014 - 11:52 | 4351627 fonestar
fonestar's picture

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

Tue, 01/21/2014 - 11:13 | 4351517 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 | 4351590 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 | 4351439 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 | 4351291 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 | 4351317 Sudden Debt
Sudden Debt's picture

from 112 to 113

Tue, 01/21/2014 - 09:49 | 4351288 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 | 4351289 Sudden Debt
Sudden Debt's picture


Tue, 01/21/2014 - 10:02 | 4351343 A82EBA
A82EBA's picture

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

Tue, 01/21/2014 - 09:45 | 4351269 Event Horizon
Event Horizon's picture

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

Tue, 01/21/2014 - 11:25 | 4351546 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 | 4351216 IridiumRebel
IridiumRebel's picture

HFT: Hammer Fuck Technology

Tue, 01/21/2014 - 10:03 | 4351341 BandGap
BandGap's picture

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

Remembe, sweep side to side.

Tue, 01/21/2014 - 09:37 | 4351220 buzzsaw99
buzzsaw99's picture

Inconceivable! [/Vizzini]

Gold = Iocane flavored Kool Aide

Tue, 01/21/2014 - 09:37 | 4351221 jubber
jubber's picture

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

Tue, 01/21/2014 - 09:36 | 4351222 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 | 4351254 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 | 4351276 LawsofPhysics
LawsofPhysics's picture

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

Tue, 01/21/2014 - 09:51 | 4351293 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.


Tue, 01/21/2014 - 10:02 | 4351339 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 | 4351340 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 | 4351298 Winston Churchill
Winston Churchill's picture

My fault.

Loaded up the eighteen wheeler on Saturday.

My bad.

Tue, 01/21/2014 - 09:49 | 4351287 kralizec
kralizec's picture

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

Tue, 01/21/2014 - 09:37 | 4351223 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 | 4351264 slotmouth
slotmouth's picture

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

Tue, 01/21/2014 - 11:39 | 4351547 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 | 4351268 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 | 4351277 fijisailor
fijisailor's picture

heart surgery or psychotropic drugs?

Tue, 01/21/2014 - 09:48 | 4351279 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 | 4351229 youngman
youngman's picture

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

Tue, 01/21/2014 - 09:40 | 4351242 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 | 4351243 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 | 4351260 buzzsaw99
buzzsaw99's picture

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

Tue, 01/21/2014 - 09:46 | 4351272 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 | 4351307 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.

Do NOT follow this link or you will be banned from the site!