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Gold Futures Halted Again On Latest Furious Slamdown
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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Do you even own that gold you're selling Pepe?
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
Trade gold like you hate it.
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""""""""
Anniversary for the 7-sigma event last year...
is there no way to find out who this is?
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.
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.
bring out your dead
dump your worthless gold
We are from the government/bank.. and we are here to help you.
If only Bart Chilton hadnt left the CFTC, he would save us...
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.
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!
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-
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...
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
2) makes sense if you needed cash and/or expected your US-based/denominated assets to be seized or subject to sanctions.
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.
That's the point of a monkey-hammer, to drive the price as low as possible in a single move...
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.
re:MarsInScorpio
You must be a newspaperman from the typewriter era.
nice use of copy ending in -30-
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??
.... on a monthly basis. So is it desperation, or simply habit and routine?
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?
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!
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...
out of all the comments on here and since the manipulation to the downside began, i think you have nailed it perfectly.
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.
Up up and away. I buy it anyway. I'm a sheep gone a stray.
OK, I don't get it - what's the end game here?
Using your grandkid's money to purchase physical gold cheap.
OK, just had to sanity check that - so it's a raid.
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
Not as long as naked shorts are allowed in the commodities markets.
All fake. Get the physical gold while you can.
They don't just act as bullies on Nevada ranches . . .
they do it in the 'markets' too.
Amerika . . . . what a country !
Fucking idiots. I hope they keep it up and break the whole damn rigged paper market.
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.
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.
(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...
welcome to the deflation of zero percent interest.
BTFD?
I'm sure the selloff is based on market fundimentals correct?
and the reason is what??? nothing has changed....still printing money...
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!
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.
;-)
Likely some agent for the US Treasury Exchange Stabilization Fund
Keep dumping paper gold assholes.
More physical for meeeeeeeeeeee! Omnomnomnomnom
Free and fair markets back in progress with gold/silver
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?
What could go wrong?
You'll know when people quit accepting greenbacks as currency...
LOL! Kill the Crimex NOW!
and now they will aquire gold from the etf at sale prices. they know how to score and who
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...
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!!
Demand is up, prices are down. Welcome to bizzaro world.
Fire sale. Love it.
Just wait till it hits about $650-$700. Then load up.
Sorry to hear that Mike Ruppert (subject of the Collapse documentary) committed suicide.
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.
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-
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...
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?
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.
Hi RaiZH
Uk Bullion are also very good. More competitive on the whole than BullionByPost
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
No probs : )
<-- BTFD
<-- Pay The Damn Federal Income Taxes.
If you Yuanna me to buy your debt; me Yuanna buy your gold cheap.
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
Currency war where you can leverage your ammo., Minimal effect on USD or oil though.
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.
Look at japan...ths game is going on for decades
So be patient.
And keep on stacking when the gold cartel gives us a discount
Like the one buzzard said to the other, screw patience, I am going to kill something.
Why do I get the feeling that TPTB are the equivalent of Officer Barbrady from 'South Park'? "Move along people, nothing to see here!"
NO Worries!!!
The CME and SEC will look into it.....
http://www.washingtonpost.com/politics/social-security-treasury-target-h...
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
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
the hour is getting late for this kind of games
"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!
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.
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...
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.
See you gentleman at $800/oz.
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)
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.
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.
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.
The regulators had to take over the HFT manipulations for the brokers, who are in court denying any manipulations. What a great country.
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"...
I just keep thinking of Sprott's 2100 dollar gold call. Just 8 months left big hella genius.
Gold would be there already if not for the daily monkey-hammer.
well, it only takes one playa to insist on delivery of a half billion $ order and that'd crack the crimex
They'll price fix it till they break it.
...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
omagarsh iz maniperlated!
hoocouldanode
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>
Baisery FTFY ;-D
Could be tax purpose.
Where the hell is my tax return? If I get enough gold I might escape poverty in my old age.
If only Bart Chilton hadnt left the CFTC. He would save us...
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...
Smashing the (paper) gold price is but one measure (and perhaps the last measure) before committing suicide.