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Gold Tumbles Most In 4 Months On China Demand Slowdown Fears

Tyler Durden's picture


Gold prices are down almost 2% this morning (over $25) as last night's slowdown in Chinese money-supply growth and fears that China's insatiable gold demand has become less insatiable send the barbarous relic back towards $1300. Slowing GDP expectations, increasing restrictions on shadow-banking commodity-backed financing, and a need for liquidity are all factors weighing on the precious metal this morning.



As WSJ reports,

China's appetite for gold is waning after a decadelong buying spree, suppressed by the country's economic slowdown and constrained credit markets.


Demand in the world's biggest gold consumer is likely to stay flat in 2014, according to estimates from the World Gold Council. Gold demand in China has expanded every year since 2002, when it declined, according to the industry group, whose forecasts are closely watched in the gold market.



Chinese consumption has helped to underpin gold prices since 2001, when many price and trading restrictions were relaxed. Last year saw frenzied buying as Chinese investors and jewelry buyers sought to capitalize on low prices. Chinese demand jumped 32% in 2013, vaulting the country past India to first place in the rankings of the world's gold consumers. But it is unlikely that record pace can be maintained, even if prices turn lower, according to the World Gold Council.


"We're looking at best for it to be on par with 2013," said Albert Cheng, managing director for the Far East at the World Gold Council. The council is releasing its latest report on China's gold market Tuesday.


Although the report doesn't offer a figure for estimated Chinese gold demand this year, it says 2014 will be a year of consolidation. "Chinese consumers brought forward jewelry and bar purchases, which may limit growth in demand in 2014," the report said.




"We're not seeing the kind of crazy buying we saw last year," said store manager Karone Huang. Last year, "we couldn't even fill our orders fast enough. That's how busy we were."


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Tue, 04/15/2014 - 08:16 | 4660021 MFL8240
MFL8240's picture

Where did Gold prices go when the Chinese demand was off the charts?  Down!  This whole system is a fucking fraud!!!  The fact is that there is no Gold at all, this was another raid orchestrated by the US government and Federal Reserve by and through JP Morgan to prop up a failing dollar.  I find this so disgusting I cannot find the words to describe this whole system built on lies, fraud and a fraudulent and dsihonest media!

Tue, 04/15/2014 - 08:18 | 4660040 kliguy38
kliguy38's picture

look at it from the least you know you're owned and you can go back to Miley and Kim and GMO

Tue, 04/15/2014 - 08:21 | 4660054 knukles
knukles's picture

Guess Charlei Munger's hems are stuffed.

Tue, 04/15/2014 - 08:25 | 4660060 Arius
Arius's picture

that is the excuse given for slamming the prices?  well, they must be really desperate ...

how convenient ZH puts this right under the big news on Ukraine ... just in case anyone wonders why?

Will see for how long the guys with money in the table buy it ???my bet not for long...

one thing is for certain, players are running scared, time to withdraw to higher ground


Tue, 04/15/2014 - 08:26 | 4660076 knukles
knukles's picture

!% decline is big news?
Nobody cares if Netflix or Tesla go up or down 1%.
Charlie Munger and his Chocolate Skivvy Factory....

Tue, 04/15/2014 - 08:28 | 4660083 kliguy38
kliguy38's picture

on a serious note they might get a quick hit sub 1200 again but it'll be short lived so take advantage . silver MIGHT break 18 BRIEFLY

Tue, 04/15/2014 - 08:32 | 4660096 GetZeeGold
GetZeeGold's picture



Only Nixon can go to China...and only Chinese can buy gold.

Tue, 04/15/2014 - 08:35 | 4660119 synergize
synergize's picture

Not sure I buy this as a reason - why is platinum / palladium falling too?  More behind the scenes...

Tue, 04/15/2014 - 08:39 | 4660132 Serfs Up
Serfs Up's picture demand might be "flat" this year according to the entrenched WGC (motto: "We hate gold")...but even the WGC reported in the *very same report* that the WSJ (motto:  "We hate gold") cited that gold demand in China was set to rise by 20% by 2017.

But, as we all know, the WGC "demand" numbers are roughly 30% of actual demand.

Keep spinning boyz.

Tue, 04/15/2014 - 09:26 | 4660346 Tabarnaque
Tabarnaque's picture

Even if Chinese demand was flat in 2014 (which I doubt) that would still mean that they will "consume" more than the entire world mining production... Left apart India and all the rest of the world. The World Gold Conspiracy can say what ever they want. We all know that they are part of the cartel and therefore rigg their numbers to provide a bearish outlook on gold.

Tue, 04/15/2014 - 10:05 | 4660609 agstacks
agstacks's picture


Tue, 04/15/2014 - 11:54 | 4661354 The wheels on t...
The wheels on the bus are going to fall off's picture

Lets not forget that Indian will likely ramp up on the imports in the second half of this year, expect the new government to abolish the sanctions that are in place

For me its a buying opportunity! 

Tue, 04/15/2014 - 08:50 | 4660165 Son of Captain Nemo
Son of Captain Nemo's picture

So lets take a snapshot of this one...

The Chinese bought JPMs most expensive piece of real estate in the 4th Qtr of last year that just happened to include the vaults to there PM commodities business and more than likely other banks in the neighborhood...

Anybody been checking with a fine tooth comb what has been going (in and out) of those vaults since that "fire sale" took place that was depreciated by oh let's see... 60% of it's market value some have speculated the spread to be even higher?...

We need an audit!

Perhaps Bukake Bart Chilton of DLA Piper will give us a peek?...

Tue, 04/15/2014 - 08:50 | 4660178 Drachma
Drachma's picture

Wouldn't Tyler normally call this a "collapse" or "crash" or maybe an "utter routing" of the gold price? "Tumble" seems so dry in comparison. Knuckles knows not to worry about paper prices. Cheers.

Tue, 04/15/2014 - 10:01 | 4660581 HardAssets
HardAssets's picture

All that part of the article after "WSJ reports" - - -


is usually pure bullshit

Tue, 04/15/2014 - 08:24 | 4660069 mvsjcl
mvsjcl's picture

The "reasons" they give for any movement is laughable.

Tue, 04/15/2014 - 08:26 | 4660078 kliguy38
kliguy38's picture

no chit......told some friends in manhattan about mungers comments and they were first gen holocaust survivors and they would ONLY smile....they knew how the game is played....

Tue, 04/15/2014 - 09:40 | 4660423 new game
new game's picture

china compliant-if you could see the whole picture-china is part of all this b.s.

but china is buying the actual metal. all i can do is laugh at how obvious this all is.

and how stupid the other half of these trades are...

the smell of fear to get a rational minded human to sell phyzzz!

Tue, 04/15/2014 - 08:34 | 4660112 Gringo Viejo
Gringo Viejo's picture

Last gasp by the cartel? Enquiring minds want to know.

Tue, 04/15/2014 - 08:19 | 4660045 Snidley Whipsnae
Snidley Whipsnae's picture

All I see are a lot of 'maybes' and negative projections by msm... oh yeah, I left out paper suppression. 

Do people cancel the fire insurance on their homes when the cost of fire insurance drops?

Tue, 04/15/2014 - 08:20 | 4660048 agent default
agent default's picture

^^^^ this.  They will do anything they can and even attempt what they can physicaly not do in order to maintain control.  And then it will all come crashing down hard.

Tue, 04/15/2014 - 08:24 | 4660050 ziggy59
ziggy59's picture

Exactly! Bloomberg says World Gold Council says opposite..China Gold Demand Rising 25% by 2017 as Buyers Get Wealthier

Tue, 04/15/2014 - 08:33 | 4660102 Snidley Whipsnae
Snidley Whipsnae's picture

We know what happened when the paper pushers forced gold price to around $1180... Physical demand in East and Mid East went through the roof.

Why would the paper pushers expect a different outcome this time?


Tue, 04/15/2014 - 09:36 | 4660404 RealityCheque
RealityCheque's picture

They've done 3 QEs with the same exact results.

They are either as dumb as fuck, or smart beyond compare. 

The line inbetween is almost impossible to see.

Tue, 04/15/2014 - 09:45 | 4660454 new game
new game's picture

one thing you and i must comprehend is they control the inputs and outputs. so where this goes is not for me to speculate...

Tue, 04/15/2014 - 08:24 | 4660066 Cattender
Cattender's picture

it's the "new normal" at least thats what my dad says! (he's got an MBA!)

Tue, 04/15/2014 - 09:14 | 4660300 Seer
Seer's picture

Sorry to hear that.  We can't all choose who are parents are.

Tue, 04/15/2014 - 08:45 | 4660155 johnnyarrowmaker
johnnyarrowmaker's picture

Agree with everything you have said, but according to a back of envelope calculation, about 40 tons of gold dropped the price today.

By sheer coincidence, 40 tons arrived last Friday from Ukraine!!

Surely some mistake?

Tue, 04/15/2014 - 09:10 | 4660281 Seer
Seer's picture

"I find this so disgusting I cannot find the words to describe this whole system built on lies, fraud and a fraudulent and dsihonest media!"

The word you're looking for is: PONZI (or, a couple of other alternatives might be: PAPER; VIRTUAL)  Tis the world of unicorns, all make-believe.

Tue, 04/15/2014 - 09:47 | 4660462 new game
new game's picture

seer, losen some soil and plant some seeds and enjoy the day! that is reality! all this other shit is one big storm cloud brewing...

Tue, 04/15/2014 - 09:14 | 4660302 LooseLee
LooseLee's picture

Yea. Just listen to those bootlickers on Bloomberg radio---Tom Keene and McKee. Both have 'jobs' that require them to 'not know' or espouse 'The Truth'. What lame pathetic soul of a man could be such a coward? They have prepared for themselves an eternity of wailing and gnashing of teeth!

Tue, 04/15/2014 - 08:16 | 4660022 SoilMyselfRotten
SoilMyselfRotten's picture

Ohhhh, that China slowdown fear. Only $25 smash?

And they are finally growing weary after a decade of buying? <eyeroll>

Tue, 04/15/2014 - 08:15 | 4660026 spanish inquisition
spanish inquisition's picture

Wohoo! I gots dry powder baby!

Tue, 04/15/2014 - 08:38 | 4660129 Its_the_economy...
Its_the_economy_stupid's picture

yes. 1250 and i'm back in again. pretty please.

Tue, 04/15/2014 - 11:38 | 4661227 Strider52
Strider52's picture

Me too spanish; I'm getting tax refunds, they're going straight into a new leaky canoe.

Tue, 04/15/2014 - 11:44 | 4661274 Strider52
Strider52's picture


Tue, 04/15/2014 - 08:15 | 4660027 Kaiser Sousa
Kaiser Sousa's picture


keep stackin...

Tue, 04/15/2014 - 08:33 | 4660106 GetZeeGold
GetZeeGold's picture



The gold EBT program.

Tue, 04/15/2014 - 09:08 | 4660270 Being Free
Being Free's picture

It is rigged and we've seen thias movie before.

The setup ... the hook ... the wire ... the STING

Tue, 04/15/2014 - 08:16 | 4660028 NOTW777
NOTW777's picture

so WSJ interviewed or polled millions of chinese gold buyers?  ha

Tue, 04/15/2014 - 08:17 | 4660033 Latitude25
Latitude25's picture

The price of gold has nothing to do with Chinese physical gold demand.  Otherwise it would have hit incredible new heights in January and Feb this year not to mention last year.  This article is pure propaganda.

Tue, 04/15/2014 - 08:18 | 4660034 GrinandBearit
GrinandBearit's picture

Hope it goes down to $1000.  I need moar.

Tue, 04/15/2014 - 08:35 | 4660116 Mr. Magoo
Mr. Magoo's picture

Just another excuse to smack down the price, The COMEX is running so low on supplies it has to use another way to manipulate. I am sure the Chinese have no problem with it since what they buy is ALWAYS unreported

Tue, 04/15/2014 - 09:54 | 4660512 rabetwoirr
rabetwoirr's picture

With the "all-in" cost to produce gold ranging between 1000 - 1300 usd/oz for different miners, it would be a impractical proposition.

Tue, 04/15/2014 - 08:20 | 4660035 fonzannoon
fonzannoon's picture

Don't worry 4 guys on the phone in London will fix this until the bullion banks manipulate it down again but incredible Indian demand will help it strengthen but Chinese copper contracts tied to mouse shit will alter the perception negatively but only until JPM's vault can't meet delivery for the 23rd straight month but no one gives a shit because the GLD is now seeing inflows.

This stuff is easy to underestand you just have follow the story lines. Silver, on the other hand, has just been a consistent pile of shit, which is what you want in an asset. consistency.

Tue, 04/15/2014 - 08:18 | 4660038 Charles Nelson ...
Charles Nelson Reilly's picture

Complete and total propaganda courtesy of the WSJ. I used to have a subscription. Cancelled it years ago. They called last week with a great deal for me. I laughed out loud at the poor sales rep. I told them I'd only be interested if then brought Tyler Durden on to replace that douchebag Hilsenrath.

Tue, 04/15/2014 - 08:25 | 4660072 Kaiser Sousa
Kaiser Sousa's picture

i take it they passed on that...

Tue, 04/15/2014 - 09:15 | 4660305 ziggy59
ziggy59's picture

And Yellen speaks Weds in NY on economy...

Tue, 04/15/2014 - 08:22 | 4660042 Gringo Viejo
Gringo Viejo's picture

Bullshit. If I can offload a dollar for anything of substance you can bet I'm going to. Saving in dollars is suicidal. This article is simply, government propaganda.

Tue, 04/15/2014 - 08:35 | 4660115 TammanyBrawl
TammanyBrawl's picture

And that right there is why I stack. Gold will go up and gold will go down, but it's a certainty that the dollar will weaken, if not outright collapse, in the future. My faith in gold is reciprocal to my lack of faith that the 'leaders' of the US will dig out of the hole they've created. When the Dollar loses resrve currency status, I'm covered.

Tue, 04/15/2014 - 11:28 | 4661145 Boxed Merlot
Boxed Merlot's picture

When the Dollar loses resrve currency status,...



s/b "as the dollar loses reserve currency status".  When the post mortum is conducted it's going to be very interesting to note the look on the faces of those who thought increasing the supply of frns from 800-900B to over 4T in 4-5 years and then threatening resource rich nations with trade sanctions were good ideas.


So, are the Fed and Obama Administration trying to crash the dollar on purpose?  Dr. Roberts says, “No, they are just stupid and arrogant. . . .  If you add up the IQ of the White House and you add up the IQ of the Fed and multiply it by a thousand trillion, it might equal 50.  These are stupid policies designed to completely destroy the U.S. dollar. . . . I don’t think the United States can win the war against gold.” 

---Greg Hunter with Dr. Paul Craig Roberts


Tue, 04/15/2014 - 08:21 | 4660051 blabam
blabam's picture

You sell all your gold and quit buying at the start of a crisis.

Tue, 04/15/2014 - 08:21 | 4660052 A_Nejad
A_Nejad's picture

And that's why I never play the casino...

Tue, 04/15/2014 - 08:21 | 4660055 SDRII
SDRII's picture

More like Goldman reiterated their call on sell gold yesterday. Gods work fittingly on Passover

Tue, 04/15/2014 - 08:22 | 4660056 Fix It Again Timmy
Fix It Again Timmy's picture

Gold Viagra - If an uptick lasts more than 4 days, please call TPTB....This game will end, in the meantime, you know what to do....

Tue, 04/15/2014 - 08:22 | 4660057 remain calm
remain calm's picture

Relax We will get another chance to buy at 1200 or maybe 1150. It won't really matter when the shit hits the fan.

Tue, 04/15/2014 - 08:24 | 4660070 fonzannoon
fonzannoon's picture

You know what is so interesting, we see stories on here all the tim about Countries like Venezuela etc. Never see any articles about families in these places who had saved in gold and are now being rewarded for it. 

Tue, 04/15/2014 - 08:28 | 4660084 blabam
blabam's picture

I wouldn't tell my toilet paper starved neighbours that I own gold. 

Tue, 04/15/2014 - 08:31 | 4660099 LawsofPhysics
LawsofPhysics's picture

Unless you also own lead copper and brass of course....

Tue, 04/15/2014 - 08:32 | 4660101 fonzannoon
fonzannoon's picture

where would you hide your beamer?


"Yet Argentines don’t just hold cash and see their savings erode, they have sought refuge partly through purchases of luxury cars.

  From the Bloomberg:
Argentines are buying more BMWs, Jaguars and other luxury cars as a store of value as inflation decimates their deposits and pummels the nation’s bonds."
Tue, 04/15/2014 - 09:34 | 4660394 tradebot
tradebot's picture

Oh pleez...buying a lux auto ain't gonna help you preserve anything. Wow...that would be stupid.

Tue, 04/15/2014 - 08:24 | 4660067 Fight-Club
Fight-Club's picture

Bullshit.  one, two, and 3 months out are in backwardation.  Just a co-ordinated correction before the next leap.  BTFD

Tue, 04/15/2014 - 08:26 | 4660080 paddy0761
paddy0761's picture

Yawn. Bring on Goldman's $1030. Let's dance!

If $1180 folds, I like $1155 then a V recovery. I expect that the bid stack will be quite deep into that level.

Who doesn't love a sale?

Tue, 04/15/2014 - 08:30 | 4660095 LawsofPhysics
LawsofPhysics's picture

Thank you. 


That is all.

Tue, 04/15/2014 - 08:34 | 4660107 NoIdea
NoIdea's picture

No doubt there are thousands of Chinese celebrating the price falling through $1300 by buying some more

Tue, 04/15/2014 - 08:34 | 4660109 JustObserving
JustObserving's picture

Silver down 3% today and down more than 66% (inflation adjusted) from May 1, 2011 and the second death of Osama bin Laden.  What is a bigger conspiracy - the lies about Osama's death (not one word is true says Seymour Hersh) or the conspiracy to suppress silver?

Tue, 04/15/2014 - 08:36 | 4660122 Balvan
Balvan's picture

I call it bubble bursting, you call it what you want (or perhaps jump from $5 to $48 was normal?)

Tue, 04/15/2014 - 09:26 | 4660345 Buzz Hacksaw
Buzz Hacksaw's picture

$5 to $48 was normal in a world that finally recognized the massive paper obligations around the world and tried to compensate. Ya $48 was high, over zelous, but that too is normal.

Compared to the vast amount of paper, of all sorts, printed in the past 15 yrs. silver and gold at these levels are undervalued. I believe that, one day, the metals will achieve a value = +/- to the paper obligations signed on to currently, as backing and legitimacy. But only after the psycopathic bullies are kicked out of the playground. Today's rout, and most in the past, just bullies being bullies protecting their turf.

Tue, 04/15/2014 - 08:37 | 4660126 fonzannoon
fonzannoon's picture

There may be a conspiracy to suppress silver, but I can walk into a store today and buy a shitload of it. Grtanted, probably around $23 an oz. But until it is venezuelian toilet paper, the conspiracy will remain a conspiracy, that 99.9% of the people could care less about. The pings are growing fainter and the plane is in water that may be too deep to recover. Also the Kardashians.....

Tue, 04/15/2014 - 08:34 | 4660111 Balvan
Balvan's picture

Who cares about gold, just another speculative asset. I'm not a gambler so I don't hold any.

Tue, 04/15/2014 - 09:12 | 4660287 Charles Nelson ...
Charles Nelson Reilly's picture

ummmm, you may want to read up on some history bro.

Tue, 04/15/2014 - 08:34 | 4660113 eddiebe
eddiebe's picture

Ohhh, gold is looking like it's going over the waterfall.

Tue, 04/15/2014 - 09:29 | 4660358 Jack4952
Jack4952's picture

Dear eddiebe,


If you believe that, then I offer to buy ALL of your physical gold at today's price.

Is it a deal?


Tue, 04/15/2014 - 08:36 | 4660121 TruthTalker
TruthTalker's picture
China Gold Demand Rising 25% by 2017 as Buyers Get Wealthier

Tue, 04/15/2014 - 08:37 | 4660127 Gringo Viejo
Gringo Viejo's picture

Try buying an ounce of silver for $19. lmao.

Tue, 04/15/2014 - 08:38 | 4660131 TammanyBrawl
TammanyBrawl's picture

The Fed needs to get their hands on some physical, so they can send it to the Germans. Time to monkeyhammer the paper market.

Tue, 04/15/2014 - 08:39 | 4660135 Son of Captain Nemo
Son of Captain Nemo's picture

Making Deal???

Xi Jinping to Zhu Guangyao...

Americans!  Can't live with them!  Can't live without them!

Tue, 04/15/2014 - 08:39 | 4660136 GrinandBearit
GrinandBearit's picture

TPTB love to dump the price in mid-April.  Look at last year.

Tue, 04/15/2014 - 08:42 | 4660141 Dr. Engali
Dr. Engali's picture

Who gives a shit? I really don't give a rat's ass about the price since I consider gold to be insurance and not an investment. For all I care they could drive the price down to $500, and if it's really available at that price (without the system blowing up) then I'll scoop up moar.

Tue, 04/15/2014 - 08:58 | 4660205 Son of Captain Nemo
Son of Captain Nemo's picture


That's the only way to play it at this point.

But the bullion banks are ever vigilant that John and Susie Q "shithead" will continue to part company with the barbaric relic that GLD Bad, Paper Good.. Either you are with us or you're with the terrorists!...

Well you know what I meant.

In all liklihood none of this debate will matter as our President and Congress are determined to build the foundation for starting a World War before GLD ever reaches $2,000 an oz anyway!

Tue, 04/15/2014 - 08:43 | 4660146 Oldrepublic
Oldrepublic's picture

Gold and the US Dollar Fight to the Death-Paul Craig Roberts

Tue, 04/15/2014 - 08:44 | 4660154 SirTaxedAlot
SirTaxedAlot's picture

See you boys at $800/oz

Tue, 04/15/2014 - 08:46 | 4660160 Save_America1st
Save_America1st's picture

more paper lies...when China, Russia, India and others were on record buying sprees the EE (Evil Empire JPMorgue) papered it over to drive it down and send more phyzz gold from West to East.

Now they spin this "gold tapering" bullshit to gain another opportunity to smash paper lower, and guess what???  More cheap phyzz or what's left of it will continue to be drained outta London and be shipped to China.

Don't one here should be gambling with their fiat in this rigged casino anyway.

Do as always and BTFD!!! 

Let them have their lies and their bullshit paper games. We can't stop any of that, but we sure as hell can keep stacking while it's at clearance fire-sale prices once again.


This won't last forever so get more phyzz today and sleep well tonight.

Tue, 04/15/2014 - 08:46 | 4660164 Sach Mahoney
Sach Mahoney's picture

Western Central Banks and the IMF are the mostly likley manipulators behind large Gold down trades like this.  The fact is, the FED is the worst market manipulator of all the banks and yet nobody can stop it. It is motivated to punish those that dare feel safe in PMs.  In fact all savers are getting punished today by the central bank leviathin. Even Big Gov't has little control over FED policy and has little insight into its market operations.  The currency and credit bubbles represent the greatest threats to sustaining today's fiat currency system. Those Agents that can, WILL do whatever they have to do to protect the status quo.  It's probably an opportunity to scoop up physical since this is most likely a paper sell-off with little actual physical hitting the market.  

Tue, 04/15/2014 - 08:48 | 4660168 the not so migh...
the not so mighty maximiza's picture

demand went down cause they can't deliver anymore

Tue, 04/15/2014 - 08:49 | 4660174 Quinvarius
Quinvarius's picture

So because China is only going to buy all the gold mined in the world again this year, there is a selloff?  Heh.  No. 

This is just more Anglo banker nonsense.  The Chinese are not going to give our gold back.  It is illegal to export it.  They don't want to give it back.  They are not going to sell it.  They buy more as things get worse.  It is gone.  As a student of history and finance, I advise you take part in the looting of Western gold vaults.

Tue, 04/15/2014 - 08:51 | 4660187 mfields111
mfields111's picture

This years buying in gold and silver 1.5 times last years in China, now Indian buying escalating, Russian buying escalating.  The bb's are just trying to shake out the weak hands while buying what they are selling prior to the next leg higher. 

Tue, 04/15/2014 - 08:53 | 4660196 jjsilver
jjsilver's picture

Have your banker shills come out and make ridiculous statements having no substance, while at the same time the banks smash gold and silver lower to make you believe it must be true; look at the price action. More creating your reality, which means, back up the truck. It's also cot day.

Tue, 04/15/2014 - 08:56 | 4660212 eddiebe
eddiebe's picture

In the game of paper scissors rock the winner is.... wait for it... Where are the scissors?

Tue, 04/15/2014 - 08:58 | 4660223 observer007
observer007's picture


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

Next price target 1000?

Latest news:!q=gold&t=text

Tue, 04/15/2014 - 09:01 | 4660238 Buzz Hacksaw
Buzz Hacksaw's picture

I'll be there!

Tue, 04/15/2014 - 09:26 | 4660348 Jack4952
Jack4952's picture


Then I will buy MORE gold !!!!

Tue, 04/15/2014 - 08:58 | 4660224 Racer
Racer's picture

Strange that all that Chinese gold buying didn't do anything to drive the price UP?!

Yes sure the real reason is anything but manipulation of course

Tue, 04/15/2014 - 09:08 | 4660266 LooseLee
LooseLee's picture

The only thing weighing on the PM's are those who have destroyed the economy and believe that 'confidence' in the dollar is elevated as gold is repressed. Sadly for them, these morons are preparing their own demise as the world awakens to 'God's Money'....

Tue, 04/15/2014 - 09:09 | 4660274 STG5IVE
STG5IVE's picture

Gold 700

Tue, 04/15/2014 - 09:10 | 4660278 StupidEarthlings
StupidEarthlings's picture

Yea..they prolly stopped buying cuz they already have it all.

When was this article written?..before the smackdown?..seems like it came out very shortly after the drop.


Tue, 04/15/2014 - 09:14 | 4660296 Remnant_Army
Remnant_Army's picture

Seems like buying oportunity. One of the last perhaps.



Friday, July 8th, 2011 @ 15:30

"Buy silver coins or gold, so that you can buy what is necessary."

Tue, 04/15/2014 - 09:19 | 4660316 symtex411
symtex411's picture

Deja Vu 

Tue, 04/15/2014 - 09:21 | 4660319 bardot63
bardot63's picture

What is unbelievable about this article is that anyone is still reading the Wall Street Journal of Horsefuck. Wake up, folks.  Do some reading.  All markets are rigged.  Do you not get that yet???  Ask yourself--if gold sold off from true market forces, where did it go??????? Who bought it below 1300??? Ask yourself -- if it's worthless, who dared then to buy it ?????  Why is it not eight bucks per tonne????  Ask  yourself -- does China prefer to keep trillions in US bonds instead of converting it to gold, oil fields, gold mines, timber fields, agricultural property ????  Wake up folks.  Do some reading!!!!!!  Grant Williams' take is available right here on ZH, as well as elsewhere.  GATA has documented this bullshit baloney price-smashing for 15 years now.  Did you not hear anything about  "Flash Boys'??? Do you think gold sold off because the Chinese overnight reversed a decade of shedding US dollars????   This price smash shows nothing more than fear and panic by the US Fed.  It is a big, honking warning that you are personally in deep shit.  Wake up, folks and stop believing MSM's horsefuck. 

Tue, 04/15/2014 - 09:25 | 4660343 Jack4952
Jack4952's picture

I think the WSJ is very valuable, as is its sister-publication online "".

Whatever I read on these 2 web sites, I presume it to be FALSE. I then act accordingly - which is how I was able to retire at age 56.

No kidding !!!!

Tue, 04/15/2014 - 09:33 | 4660386 A_Nejad
A_Nejad's picture

A "down to bone" strategy...but good one never the less :)

By the way, some folks never retire at 56, heck not even would be really boring with that much fun going around, don't you think?


Tue, 04/15/2014 - 09:34 | 4660391 bardot63
bardot63's picture

I believe you!!! I use CNBC for the same. purpose. There hasn't been one word of truth (not counting Santelli) on CNBC in several years.  If you want to know what to run away from, just go with whatever CNBC is shilling.

Tue, 04/15/2014 - 09:23 | 4660334 LooseLee
LooseLee's picture

I heard an interview lately with David Collum (by Chris Martenson). He speculates that the USSA, instead of parting with its own stash of gold, drives the price down in order to buy the gold of those 'spooked' by the fall in order to make payment to China (in gold) for them to continue buying our treasuries. Although very disingenuous it could ring of truth if we still have our gold. That is the question. Audit the fed!

Tue, 04/15/2014 - 09:25 | 4660344 NoWayJose
NoWayJose's picture

I somehow doubt that the big money in China that was handed out to their banks and land speculators was lining up at their local precious metal and jewelry shops. If anything, the falling yuan and domestic financial turbulance is the kind of thing that makes ordinary buyers want MOAR.

Tue, 04/15/2014 - 09:31 | 4660368 WhoIsJohnGaltCoin
WhoIsJohnGaltCoin's picture

Bitcoin approaching $500 again, perhaps some chinese rotation going on.

Tue, 04/15/2014 - 09:35 | 4660398 A_Nejad
A_Nejad's picture

I think "anything but dollar" is going on, if you ask the next guy.

Tue, 04/15/2014 - 09:59 | 4660561 Atlas Crapped
Atlas Crapped's picture

And my Toyota Prius stalled in the driveway this morning, on fears of inclement weather in Iceland.


Tue, 04/15/2014 - 11:17 | 4661090 Rory_Breaker
Rory_Breaker's picture

Guys! it's easter holidays (baisakhi & vishu in india) sale!

Tue, 04/15/2014 - 11:34 | 4661208 loveyajimbo
loveyajimbo's picture

Anyone who believes a word of what comes out of the WGC's arsehole is very likely a worshiper of the other world renowned truth tellers, Obunga, Kerry, Rice, Carney, Hillaroid, Reid and the Queen of Truth... "Polyp" Pelosi.  Gold is a bet that these corrupt douchebags will burn our country down...

Tue, 04/15/2014 - 11:50 | 4661297 Boxed Merlot
Boxed Merlot's picture

why is platinum / palladium falling too?  More behind the scenes...


This would indicate the common trait they all share, i.e., monetary utility. 

Besides, naked shorts are cheap insurance for the fed, especially when their script is produced for nothing, (electronic cypherage) and backed by even less than the naked short contracts they use to improve the appearance of their books.



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