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Gold Futures Halted Again On Latest Furious Slamdown

Tyler Durden's picture




 

It seems the two words "fiduciary duty" are strangely missing from the dictionary of the new normal's asset management community. This morning, shortly before 8:27am ET, someone decide that it was the perfect time to dump thousands of Gold futures contracts worth over half a billion dollars notional. This smashed Gold futures down over $12 instantaneously, breaking below the 200DMA and triggered the futures exchange to halt trading in the precious metal for 10-seconds. Palladium also got clobbered and was also halted. This is gold's worst since Bernanke 'tapered' in December.

 

As Nanex exposes in great detail...

1. June 2014 Gold (GC) Futures on April 15, 2014
Note the 10 second halt.



2. Zooming out.



3. Zooming way out.



4. June 2014 Palladium (PA) Futures on April 15, 2014
Palladium futures also halted for 10 seconds.


 

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Tue, 04/15/2014 - 09:32 | 4660371 Croatian Patriot
Tue, 04/15/2014 - 09:35 | 4660384 GetZeeGold
GetZeeGold's picture

 

 

Do you even own that gold you're selling Pepe?

Tue, 04/15/2014 - 09:38 | 4660412 kliguy38
kliguy38's picture

run muppets run.......its goooold........its scaaaaary......hehehehehe.....selll selllll sellll.......oh just one more thing...your masters are buying on the other side....hehhehehehe........stack it and forgettaboutt

Tue, 04/15/2014 - 09:39 | 4660414 cifo
cifo's picture

Trade gold like you hate it.

Tue, 04/15/2014 - 09:42 | 4660433 Serfs Up
Serfs Up's picture

Uh...""""price discovery""""?

A sophisticated fund """"unwinding""""?

And the usual assortment of MSM lies to cover up just one more area of rotteness in the farcical US """"""""markets""""""""

Tue, 04/15/2014 - 10:19 | 4660695 1000 splendid suns
1000 splendid suns's picture

Anniversary for the 7-sigma event last year...

Tue, 04/15/2014 - 10:26 | 4660739 Four chan
Four chan's picture

is there no way to find out who this is? 

Tue, 04/15/2014 - 10:35 | 4660796 More_sellers_th...
More_sellers_than_buyers's picture

Sure they can...they can find out in 10 seconds.  Then begs the question, why did they do it? Well the dorkfuck that is making 80k a year files a report on who and sticks it in a file to send to someone else to find out why.  In about 3-4 years they will knock on someones office and say why did you do thta, and hey will respond I have no idea. and case closed.  Your tax dollars at work.

 

Tue, 04/15/2014 - 11:27 | 4661152 Lord Koos
Lord Koos's picture

Why?  A pre-emptive strike -- gold was set to spike higher on today's news of escalation of hostilities in the Ukraine.  Many have a vested interest in keeping a low gold price.  Including the Chinese.

Tue, 04/15/2014 - 12:11 | 4661445 Manthong
Manthong's picture

bring out your dead

dump your worthless gold

We are from the government/bank.. and we are here to help you.

Tue, 04/15/2014 - 14:13 | 4662046 strannick
strannick's picture

If only  Bart Chilton hadnt left the CFTC, he would save us...

Tue, 04/15/2014 - 10:59 | 4660945 chubbar
chubbar's picture

They can't seem to find out who shorted American and United airlines the day before 9/11 either. BUT, they know when you don't turn in a 1099, or when you don't claim a stock sale, go figure.

Wed, 04/16/2014 - 13:08 | 4665647 Tzanchan
Tzanchan's picture

Simple JP mOrgan...read Ed Steer's daily commentary and aggregation, the gold market "Raptors" are JPM, HSBC, Bank of Nova Scotia and Citi, but JPM is the biggest.....keep stacking!

Tue, 04/15/2014 - 09:48 | 4660441 MarsInScorpio
MarsInScorpio's picture

Somebody needs:

 

1) Gold/Palladium, and they need it desperately, so they need to crash the price, or

 

2 Someone needs cash - and they need it this second - again, desperately.

 

Candidates?

 

International banks who don't have the gold they are supposed to have for delivery, and they need it desperately;

 

Central banks who need gold for themselves, and they need it desperately;

 

Hedge Funds who need cash, and they need it desperately . . .

 

What's your guess? Care to add it to the list?

 

But the common thread is . . . desperately.

-30-

 

Tue, 04/15/2014 - 10:11 | 4660642 BigJim
BigJim's picture

Except 2) doesn't make sense because anyone who needed cash desperately wouldn't just dump tonnes of paper gold in one sell order... that's a sure-fire way to depress the price.

So I guess that leaves 1)... or. to my mind, 3): 'somebody' wishes to induce as much volatility into the PM market so PMs are seen as 'unsafe'...

...and it's working. If you talk to the average person about the superiority of the classical gold standard over the free-for-all we have now, half the time their 'rebuttal' will be something along the lines of: Yeah, but the price of gold is really volatile, man. Would you want to have to work in a currency that loses 30% of its value in a year? At which point I usually pull out a 10-note and say: Dya see this? Does the purchasing power of this correspond to the everyday vagaries of the price of paper?

When the phyzz is gone (God, I hope it's 'when', and not 'if') all these shenanigans will be a distant memory...

Tue, 04/15/2014 - 12:07 | 4661396 Bananamerican
Bananamerican's picture

Reason 4: End of petrodollar regime coming. Feds need to replace AU stocks, keep sheeps wedded to fiat/dismissive of AU.
No smash down perps will be found unless his name is Vlad.
"Vlad did it!" Will become the new amerikan catchphrase of 2014

Tue, 04/15/2014 - 13:30 | 4661849 seek
seek's picture

2) makes sense if you needed cash and/or expected your US-based/denominated assets to be seized or subject to sanctions.

Tue, 04/15/2014 - 13:38 | 4661879 BigJim
BigJim's picture

But even then you wouldn't just dump them all in one go, surely? Spreading the sales out over an hour, or even over 15 minutes, would have much less impact on price.

Tue, 04/15/2014 - 17:40 | 4662887 Keyser
Keyser's picture

That's the point of a monkey-hammer, to drive the price as low as possible in a single move... 

 

Tue, 04/15/2014 - 10:13 | 4660653 TammanyBrawl
TammanyBrawl's picture

Damn straight. This is an act of desperation. I'm getting the feeling today is going to be significant, not just in gold.
The center can not hold. Things fall apart.

Tue, 04/15/2014 - 11:24 | 4661125 Oldrepublic
Oldrepublic's picture

re:MarsInScorpio

You must be a newspaperman from the typewriter era.

nice use of copy ending in -30-

Tue, 04/15/2014 - 09:40 | 4660424 philipat
philipat's picture

I SUSPECT that they need to do this to deter deliveries of Physical Gold during the April Delivery month. GOFO rates are negative and there is little physical to be found. This smells of desperation??

Tue, 04/15/2014 - 09:43 | 4660440 SWCroaker
SWCroaker's picture

.... on a monthly basis.    So is it desperation, or simply habit and routine?

Tue, 04/15/2014 - 10:01 | 4660577 philipat
philipat's picture

No, not Monthly but certainly every DELIEVERY month. Also, the Blogosphere has caught onto the fact that when GOFO rates ate negative, Gold prices tend to rise. So, must do something to correct that perception as soon as possible? We are dealing here with the most evil and wicked folks on earth, especially the CB's and their Agents the BB's?

Tue, 04/15/2014 - 10:03 | 4660594 rehypothecator
rehypothecator's picture

Q: Why is gold slammed down so furiously that it breaks the market, again and again, giving the worst execution price to the seller?  

A: Tradition! 

Tue, 04/15/2014 - 10:14 | 4660615 philipat
philipat's picture

A: Because that is what the CB's want. And they don't have to worry about losing money on "Trades" because they can simply print as much more as they need...

AND, they are no longer trying to hide it because they WANT you to know that you should NOT buy Gold, so "Don't fight The Fed". They have truly pulled out all the stops...

Tue, 04/15/2014 - 10:36 | 4660803 Four chan
Four chan's picture

out of all the comments on here and since the manipulation to the downside began, i think you have nailed it perfectly.

Tue, 04/15/2014 - 11:17 | 4661085 fockewulf190
fockewulf190's picture

The Fed pulls out the stops, and the Chinese load the slow boat.  It´s actually amazing how this game has gone on for so long.  I  wonder who dies first; the LBMA and/or the Comex, or the gold and silver miners. 

Tue, 04/15/2014 - 10:47 | 4660870 Rubbish
Rubbish's picture

Up up and away. I buy it anyway. I'm a sheep gone a stray.

Tue, 04/15/2014 - 09:32 | 4660374 replaceme
replaceme's picture

OK, I don't get it - what's the end game here?

Tue, 04/15/2014 - 09:34 | 4660390 GetZeeGold
GetZeeGold's picture

 

 

Using your grandkid's money to purchase physical gold cheap.

Tue, 04/15/2014 - 09:35 | 4660400 replaceme
replaceme's picture

OK, just had to sanity check that - so it's a raid.

Tue, 04/15/2014 - 09:38 | 4660413 Skin666
Skin666's picture

Next crash, owners demanding physical delivery, thus bankrupting the CRIMEX and LBMA

 

Then you have real price discovery, based on actual phyzz not rigged paper futures

 

Gold $ 100k Bitchez

Tue, 04/15/2014 - 17:43 | 4662900 Keyser
Keyser's picture

Not as long as naked shorts are allowed in the commodities markets. 

Tue, 04/15/2014 - 09:32 | 4660377 PaperBear
PaperBear's picture

All fake. Get the physical gold while you can.

Tue, 04/15/2014 - 09:49 | 4660477 HardAssets
HardAssets's picture

They don't just act as bullies on Nevada ranches . . .

they do it in the 'markets' too.

Amerika . . . . what a country !

Tue, 04/15/2014 - 09:35 | 4660378 Dr. Engali
Dr. Engali's picture

Fucking idiots. I hope they keep it up and break the whole damn rigged paper market.

Tue, 04/15/2014 - 09:47 | 4660463 Greenskeeper_Carl
Greenskeeper_Carl's picture

Yep. I was going to my LCS today anyway. Thanks for the discount fuckers. My timeline is long, as I am under 30, so I will welcome the discount as long as possible.

Tue, 04/15/2014 - 10:01 | 4660584 BurningFuld
BurningFuld's picture

This is too simple. An event which would normally spike Gold (Ukraine Troops removing pro-Russian "protesters") just occured. In order to protect the USD they slammed the living crap out of Gold at the same time to make it look like nobody values Gold in times of Global stress.

Thank you.

Tue, 04/15/2014 - 10:26 | 4660733 gmrpeabody
gmrpeabody's picture

(Ukraine Troops removing pro-Russian "protesters")

Not saying it isn't happening..., but sometimes somebody's wild and crazy Twitter becomes a headline here, and subsequently exaggerated...

Just saying...

Tue, 04/15/2014 - 09:32 | 4660379 venturen
venturen's picture

welcome to the deflation of zero percent interest.

Tue, 04/15/2014 - 09:32 | 4660380 Kirk2NCC1701
Kirk2NCC1701's picture

BTFD?

Tue, 04/15/2014 - 09:34 | 4660387 tjeffersonsghost
tjeffersonsghost's picture

I'm sure the selloff is based on market fundimentals correct?

Tue, 04/15/2014 - 09:34 | 4660389 youngman
youngman's picture

and the reason is what??? nothing has changed....still printing money...

Tue, 04/15/2014 - 09:35 | 4660392 MFL8240
MFL8240's picture

Give us the name of the company or Goverment who dumped those contracts.

over half a billion dollars notional. Is a large number so it was Janet Yellen or her whores at JP Morgan but we deserve to know!

Tue, 04/15/2014 - 09:42 | 4660436 aleph0
aleph0's picture

 

 

In this day and age , it is easy to tell us which Banksters did those trades ...

... except  that for reasons of  "Bankster Security" , they will not.
;-)

 

Tue, 04/15/2014 - 09:51 | 4660491 HardAssets
HardAssets's picture

Likely some agent for the US Treasury Exchange Stabilization Fund

Tue, 04/15/2014 - 09:34 | 4660393 Skin666
Skin666's picture

Keep dumping paper gold assholes.

 

More physical for meeeeeeeeeeee! Omnomnomnomnom

Tue, 04/15/2014 - 09:36 | 4660405 Matt_Master
Matt_Master's picture

Free and fair markets back in progress with gold/silver

Tue, 04/15/2014 - 09:36 | 4660407 gjp
gjp's picture

Ukraine civil war, cracks widening in China economy, macro disappointments in US

So they sell the shit out of paper gold and buy US crap equities.  Wolves of wall street earning their zillions again with efficient allocation of capital.  What could go wrong?

Tue, 04/15/2014 - 17:47 | 4662923 Keyser
Keyser's picture

What could go wrong?

You'll know when people quit accepting greenbacks as currency...

 

Tue, 04/15/2014 - 09:39 | 4660416 FieldingMellish
FieldingMellish's picture

LOL! Kill the Crimex NOW!

Tue, 04/15/2014 - 09:39 | 4660417 enloe creek
enloe creek's picture

and now they will aquire gold from the etf at sale prices. they know how to score and who

Tue, 04/15/2014 - 09:39 | 4660418 bardot63
bardot63's picture

By Nicholas Larkin
Bloomberg News
Tuesday, April 15, 2014

LONDON -- Gold demand in China, which overtook India as the largest user last year, will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council.

Consumer demand will expand to at least 1,350 metric tons by 2017, the London-based council said in a report today. Growth may be limited this year after 2013's price decline spurred consumers to do more buying last year, it said. China accounted for about 28 percent of global usage last year, the council estimated in February. ...

... For the full story:

http://www.bloomberg.com/news/2014-04-15/china-s-gold-demand-rising-25-b...

Tue, 04/15/2014 - 09:44 | 4660449 Serfs Up
Serfs Up's picture

Actually it has already 'expanded' pretty close to 1,350 metric tonnes YTD...so the WGC 'call' is already correct here in 2014!  Good going guys!!

Tue, 04/15/2014 - 11:32 | 4661182 Lord Koos
Lord Koos's picture

Demand is up, prices are down.  Welcome to bizzaro world.

Tue, 04/15/2014 - 09:39 | 4660419 Puncher75
Puncher75's picture

Fire sale.  Love it. 

Tue, 04/15/2014 - 12:59 | 4661690 Flux
Flux's picture

Just wait till it hits about $650-$700. Then load up.

Tue, 04/15/2014 - 10:02 | 4660421 astoriajoe
astoriajoe's picture

Sorry to hear that Mike Ruppert (subject of the Collapse documentary) committed suicide.

Tue, 04/15/2014 - 09:43 | 4660431 Cognitive Dissonance
Cognitive Dissonance's picture

Same shit, different day.

These slam downs will continue to work until they don't. Then the desperate men will become even more desperate and try something else. Do not underestimate the desperate men.

Tue, 04/15/2014 - 09:55 | 4660519 MarsInScorpio
MarsInScorpio's picture

CD - I love you posts.

 

Yes - desperate people do desperate things - like start wars.

 

And in their desperate delusion, they believe they will survive the war . . .

-30-

 

Tue, 04/15/2014 - 10:06 | 4660618 Skin666
Skin666's picture

I think it's closer than many think CD

 

VIX slam is now nearly daily.

Gold and silver 9:30 Am monkeyhammer is now nearly a daily occurence

9:30 daily rampathon in stawks

3:30 daily Ramp Capital in stawks

Belgium (LOL) buying record amounts of treasuries.

 

It's becoming more overt than ever. They are in big trouble here...

Tue, 04/15/2014 - 10:18 | 4660688 Big Sky
Big Sky's picture

Having purchased through APMEX in the past, I ended up on their email list. There seems to be a correlation in that certain days I receive all sorts of offers - XX cents over spot, free shipping etc, then the very next day the spot price gets slammed. What could be better than collecting a bunch of orders, then obtaining the physical to fill those orders at a lower price. Coincidence? Anybody else notice this?

Tue, 04/15/2014 - 10:38 | 4660746 RaiZH
RaiZH's picture

I'm from the UK, so I order from an online seller called BullionByPost... I actually experience the opposite - get emails from them when the price gets slammed! 

The email subject for today reads: "Chinese gold demand set to rise - Sale & Clearance... must end soon

Damn right... it will.

Tue, 04/15/2014 - 10:47 | 4660865 Skin666
Skin666's picture

Hi RaiZH

 

Uk Bullion are also very good. More competitive on the whole than BullionByPost

Tue, 04/15/2014 - 10:59 | 4660940 RaiZH
RaiZH's picture

I realised BullionByPost is a bit pricey recently, I started ordering from Atkinsons and they have very good deals on "used" PMs too. 

Just checked out UK Bullion - prices seem just as reasonable, but there's more variety for me too choose from now!
(Admittedly I'm a bit of a collector too). 

THANK YOU 

Tue, 04/15/2014 - 11:02 | 4660966 Skin666
Skin666's picture

No probs : )

Tue, 04/15/2014 - 09:42 | 4660435 TalkToLind
TalkToLind's picture

<-- BTFD

<-- Pay The Damn Federal Income Taxes.

Tue, 04/15/2014 - 09:43 | 4660438 TideFighter
TideFighter's picture

If you Yuanna me to buy your debt; me Yuanna buy your gold cheap. 

Tue, 04/15/2014 - 09:42 | 4660439 observer007
observer007's picture

Goldman Sachs again brought down gold prices

Exactly a year ago on 15 April gold prices corrected sharply as Goldman Sachs, leading investment bank gave bearish outlook for the yellow metal and prices corrected from $1600 to $1,300 in just a few days

...

Gold is getting smoked today. Worst day since December, when the taper was first announced.

Latest News:

http://tersee.com/#!q=Gold&t=text

Tue, 04/15/2014 - 09:46 | 4660445 Bastiat
Bastiat's picture

Currency war where you can leverage your ammo.,  Minimal effect on USD or oil though.

Tue, 04/15/2014 - 09:44 | 4660451 Croesus
Croesus's picture

The "paper Gold spot price got smacked again? 

OMFG, no! Nobody could see this coming! What should we do??? Quick, let's buy stock in Fartbook, or Linked-In, or any of the other thousands of CRUD companies that are pricing-in earnings far into the future! 

Better yet, let's buy Bonds! You retail investors don't know it, but NOBODY has better credit than the US Government! Nobody, and I MEAN NOBODY...is more capable of financial jurisprudence than the US DotGov! 

Smackdown, indeed. 

Tue, 04/15/2014 - 09:44 | 4660452 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Look at japan...ths game is going on for decades

Tue, 04/15/2014 - 09:55 | 4660518 Carl Popper
Carl Popper's picture

So be patient.

And keep on stacking when the gold cartel gives us a discount

Tue, 04/15/2014 - 12:33 | 4661567 SilverSavant
SilverSavant's picture

Like the one buzzard said to the other, screw patience, I am going to kill something.

Tue, 04/15/2014 - 09:45 | 4660455 SnatchnGrab
SnatchnGrab's picture

Why do I get the feeling that TPTB are the equivalent of Officer Barbrady from 'South Park'? "Move along people, nothing to see here!"

Tue, 04/15/2014 - 09:51 | 4660489 paint it red ca...
paint it red call it hell's picture

NO Worries!!!

The CME and SEC will look into it.....

Tue, 04/15/2014 - 09:53 | 4660508 Carl Popper
Carl Popper's picture

Tell them thank you for the subsidy.

The Chinese and Indians appreciate it.

Buy on the way down, not on the way up.

I hope it hits 900 and silver goes to 12 so I can back up the truck. Sadly like many other zero hedgers I lost all my previous previous metals in a tragic boating accident

Tue, 04/15/2014 - 10:05 | 4660559 Son of Captain Nemo
Son of Captain Nemo's picture

Not at all related to this, But related in so many ways on a contrived system that is built on lies that you don't dare call into question for fear of derision from the herd or worse...

Unbelievable and well worth the 11 minutes of your day to ponder. 

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

Tue, 04/15/2014 - 10:01 | 4660582 johny2
johny2's picture

the hour is getting late for this kind of games


Tue, 04/15/2014 - 10:07 | 4660626 Son of Captain Nemo
Son of Captain Nemo's picture

"the hour is getting late for this kind of games"...

j2

This is when you know it will end very badly because for these guys they are never wrong and can never lose!

Tue, 04/15/2014 - 10:02 | 4660593 Kina
Kina's picture

CFTC SEC BIS LBMA - each of them systemically corrupt criminals serving nobody other than their elite mates.

Do a good job at being the best bought regulator and we will get you that multi-million dollar job with us when you leave.

So we have a procession of corrupted paid for regulators allowing their mates to corrupt each and every market, especially gold and silver..and as we have seen they later get their pay off in high paid easy jobs.

 

Not hard to create a corrupt regulator in the USA, just ask them, corruption of market is so systemic on behalf of banksters that the criminals forget that it is even corrupt.

Tue, 04/15/2014 - 10:04 | 4660601 PHantomofthemarkets
PHantomofthemarkets's picture

IS Russia dumping all paper and transferring it to fysical? (means not only American gold paper but all worthless American paper).

IF that would be the case China will start worrying if they better would not do the same before it is too late.
But then again, if they start doing the same it is too late...

Tue, 04/15/2014 - 10:06 | 4660616 Bastiat
Bastiat's picture

No accident this comes on the day military action commences by the Ukraine coup forces.  Markets are now the arena of "National Security" and have been for awhile.  The counter move will follow Russia's action.

Tue, 04/15/2014 - 10:12 | 4660648 SirTaxedAlot
SirTaxedAlot's picture

See you gentleman at $800/oz.

Tue, 04/15/2014 - 10:13 | 4660651 Cannon Fodder
Cannon Fodder's picture

Why is it no one is able to see the names of the institutions in the trade data? Is there no way to find out who dumpted those contracts?  (kind of the same way I would like to see the trade data of who it was that made money off of 9-11 shorting)

Tue, 04/15/2014 - 18:52 | 4663171 Keyser
Keyser's picture

I believe you would find the fingerprints of the Strategic Exchange Stabilization Fund all over those trades.  Much like the magical levitation of the equities market this afternoon. 

 

Tue, 04/15/2014 - 10:14 | 4660663 SMC
SMC's picture

This comedy show is getting too predictable.

Considering the blatant lies and misdirection of the crony-capitalists and their political minions running the current regime, it may be prudent to independently test and verify the quality of new physical as well.

Tue, 04/15/2014 - 10:57 | 4660930 Timebandit-44
Timebandit-44's picture

Actually on a delivery of bars from COMEX to China several years ago the Chinese tested and found the bars salted with tungsten. Do not buy US substandard dog turds. Buy in Asian banks and shops only. That will be the only place you will find them soon enough.

Tue, 04/15/2014 - 10:17 | 4660680 Timebandit-44
Timebandit-44's picture

The regulators had to take over the HFT manipulations for the brokers, who are in court denying any manipulations. What a great country.

Tue, 04/15/2014 - 10:20 | 4660705 Fix It Again Timmy
Fix It Again Timmy's picture

What a surprise, since the markets are all about honesty, adherence to the letter of law, and full transparency.  I hate to think what would happen if they were "rigged and manipulated"...

Tue, 04/15/2014 - 10:24 | 4660727 lunaticfringe
lunaticfringe's picture

I just keep thinking of Sprott's 2100 dollar gold call. Just 8 months left big hella genius.

Tue, 04/15/2014 - 18:55 | 4663183 Keyser
Keyser's picture

Gold would be there already if not for the daily monkey-hammer. 

 

Wed, 04/16/2014 - 01:20 | 4664120 Squid-puppets a...
Squid-puppets a-go-go's picture

well, it only takes one playa to insist on delivery of a half billion $ order and that'd crack the crimex

Tue, 04/15/2014 - 10:39 | 4660815 mademesmile
mademesmile's picture

They'll price fix it till they break it.

Tue, 04/15/2014 - 12:32 | 4661551 sixbilliondollarman
sixbilliondollarman's picture

...no doubt! 

As long as the actual gold dealers keep selling gold "close to the SCAM PRICE" [FUTURES/Spot/ETF]...who cares? Be thankful to these central bankers who make PMs affordable to us slaves!

:) I LOVE IT...i just wish i had Fed Notes to buy the shit being dead broke to health care and 19 food price increase this year [so far].

http://www.youtube.com/watch?v=vrIs-kiPEkw

 

Tue, 04/15/2014 - 10:49 | 4660880 MeelionDollerBogus
MeelionDollerBogus's picture

omagarsh iz maniperlated!

hoocouldanode

Tue, 04/15/2014 - 11:01 | 4660962 Conax
Conax's picture

One thing is different this time. Nobody's calling it 'profit-taking' or a phyzz sell-off to pay taxes.. No, everyone sees it for what it is.  Fuckery.

<pardon my French>

Tue, 04/15/2014 - 11:13 | 4661051 messymerry
messymerry's picture

Baisery   FTFY  ;-D

Tue, 04/15/2014 - 11:02 | 4660967 boeing747
boeing747's picture

Could be tax purpose.

Tue, 04/15/2014 - 12:09 | 4661435 Ignorance is bliss
Ignorance is bliss's picture

Where the hell is my tax return? If I get enough gold I might escape poverty in my old age.

Tue, 04/15/2014 - 14:12 | 4662043 strannick
strannick's picture

If only Bart Chilton hadnt left the CFTC. He would save us...

Tue, 04/15/2014 - 15:56 | 4662436 Snarkathon
Snarkathon's picture

No prizes for guessing-> "Gold will resume a decline as U.S. economic growth accelerates, according to Goldman Sachs Group Inc., which reiterated a forecast for the metal to end the year at $1,050 an ounce."

http://www.bloomberg.com/news/2014-04-14/goldman-stands-by-1-050-gold-ta...

Wed, 04/16/2014 - 21:01 | 4667665 rbblum
rbblum's picture

Smashing the (paper) gold price is but one measure (and perhaps the last measure) before committing suicide.

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