Gold Tumbles To 2-Month Lows... Because It's Tuesday

Tyler Durden's picture

Gold is down 6 days in a row and has broken back down to its lowest since mid-February (under its 200DMA once again).



As it seems someone wanted out in a hurry as Europe closed...


The reason... aside from growth stocks are rallying which must mean the economy is fixed and therefore no need for the world's central banks to print any more money (oh wait apart from the BoJ and ECB)... is unclear... though we suspect the driver is to do with the following crucial chart...


h/t @Not_Jim_Cramer


Of course, gold is still the winner in 2014 (for now)...


Charts: Bloomberg

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achmachat's picture

So why are there so many songs that deal with horrible Mondays?

and.... maybe Lynyrd Skynyrd are gold bugs?


squib's picture

Cuz Tuesday's just as bad. Lord, and Wednesday...even worse.

Slave's picture


Stoploss's picture

Better sell it to the COMEX.

They don't have any..


At all.

Gringo Viejo's picture

Who needs gold when you got a priceless collection of Franklin Mint Limited Edition Pie Plates! I'm gonna make a killin' with these!

gmrpeabody's picture

I bought another bambo fly pole..., I don't fish!

RafterManFMJ's picture

Laugh all you want pal, but I recently bought the ENTIRE Star Trek collector plate series! While there's no gaurantee they'll go up in value, all those other collectible plates did!

And while I can't eat my plates, I can eat OFF them! Tonight Spock gets a beard of mashed potatoes and gravy.

L G Butz PhD's picture

Spock's beard!

I c wut u did! 

VD's picture

because heart attack Monday deals with people having to kick off the first day of the PONZI WEEK...

Greenskeeper_Carl's picture

thats fine, i welcome the discount. I am young, i have lots of time

SWCroaker's picture

I'm old.   May kick off any day now.   Being stubborn, I will never let go my shiny @ these price levels.   So....

Some young punk in my circle may inherent something of serious value.   As the gov is setting young types up for perpetual servitude to us old farts, I'm not as bothered by the prospect of not seeing higher price levels as I used to be.

Weird as it sounds, people your age *should* be (quietly) rooting for the continued suppression.  You're being priced out of everything else.

TheReplacement's picture

Dad, is that you?  I love you dad.

666's picture

"Some young punk in my circle may inherent something of serious value."

It must feel reassuring knowing that the young punk will promptly sell that shiny of yours to buy a new unneccessary piece of "technology" that will end up in the scrap heap a year later due to obsolescense.

JustObserving's picture

The Fed is a big fan of the Moody Blues and their hit song "Tuesday Afternoon":

It's just the kind of day to leave myself behind,
So gently swaying thru the fairy-land of love,
If you'll just come with me and see the beauty of

Tuesday afternoon.
Tuesday afternoon.

Dr. Engali's picture

Meh....frankly I don't care. TPTB have a collar on gold and they will keep it that way until the whole system breaks. Gold and silver is money that doubles as insurance, and I'll be taking profits today to add to the policy. 

disabledvet's picture

but this is THEIR system that they are breaking.

These folks are all long gold and silver.
If you wind up with an epic're talking credit destruction in the TRILLIONS.

Long equities to boot? Bwhahahahaha. What isn't being levered here you Wall Street folks??? All while "waiting for recovery"?!!

I mean should I be triple short JPM here? What other "obscure, non-trade able so called rehypothecatable asset to a billion time a million" you guys got here?

Just asking cuz I'm bullish and want to keep buying here Big Boyz!

XAU XAG's picture

@Dr. Engali


TPTB have a collar on gold and they will keep it that way until  GERMANY GETS IT'S GOLD BACK OR the whole system breaks.


Fixed it for you!

Dr. Engali's picture

Lol... Germany isn't getting that gold back.

MeelionDollerBogus's picture

warten, das ist Wolfram! scheisse!

Save_America1st's picture

it's my fault again...sorry about that everyone.  I grabbed a bunch of shiny silver gear at 20...then I grabbed more at 19.75...then I figured, WTF...may as well grab a bunch more when it hit 19.50, I mean, this can't go on forever, right?  hahaha

I guess as long as I keep stacking the phyzz I'll eventually drive the paper prices down to fucking ZERO! 

Will the dealers give all their phyzz away for free at that point or will they charge a small premium on top of ZERO!  lol

Oh well...I'm happy to be able to keep scooping it up at these levels.  I mean, shit, isn't any silver under 50 an ounce a steal anyway???  Not to mention any that can be stacked this far under the average cost of production. 

We know this B.S. can't keep goin' on forever though, so being patient and continuing to stack will be the key to our survival after the great monetary reset occurs. 



youngman's picture

I think its the Chinese really turning on the screws....they want it bad...and they have HFT computers too.....

disabledvet's picture

"Politburo East meets Politburo West."

The last dollar denominated, rehypothecatable asset to be bought NO HOLDS BARRED! we come!

...out of space's picture

and stupid china are buying hehe

oh wait a minute

SillySalesmanQuestion's picture

Here is the most shorted asset by far and away...and it's not going up?

Caracalla's picture

How many times does someone have to explain this?  Sell your gold and silver, cover all of your short positions, sell your bonds, real estate, collectables, etc. and put all of the proceeds into Facebook, Linked-in, Tesla, First Solar, Groupon, Netflix and Amazon.  It's the only way you can invest and have any hope whatsoever of making any money.

The Luftwaffe's picture

Options expiration folks

Kaiser Sousa's picture

who's fooling who?

im matter the phony paper price..


disabledvet's picture

more like "death to New York, New Jersey, New England, New Galactica"... I don't know. this really doesn't feel like the bills are getting paid here.

Gringo Viejo's picture

I don't pay much attention anymore. The manipulation is blatant, the system will eventually implode. Keep stackin'

Tabarnaque's picture

Not surprising now that the bullion banks have finished getting rid of their shorts and that the Producer/Merchants have the lowest short position in history.

Chupacabra-322's picture

Keep Stackimg.

That has been the overall mantra here.

Latitude25's picture

Looks like another example of loss of faith in GLD and other ETFs.  I'm in agreement with that particular lack of faith.

MFL8240's picture

Looks like the gangsters have won again!  Your a fool if you loose faith given the fraud in the whole sytem.

Latitude25's picture

For your information GLD and ETFs are paper ownership of gold.  Do you have faith in a paper certificate that says you own gold?

Took Red Pill's picture

So Tuesdays are shopping days. Thanks for the tip!

RealityCheque's picture

I think we are all long enough in the tooth at this stage, AU-wise, to laugh at these kinds of price movements and simply thank our insanely corrupt central planners for selling us their last real asset at fire-sale prices. 

This will not happen again for generations. It's a good time to be us.

elwind45's picture

The first thing risk worries about is getting it out the second thing is GETTING It Out? It is dollars and they will be coming home to STOCKS AND BONDS etc etc its money (re re re ....whatever) its still dollars and they are rushing home to do gooder works back home US....A. I think u know the rest of the chant eventually perhaps?

elwind45's picture

You ever get the feeling that American foreign policy does not really give a shit because of some real and hidden message? I get a feeling thar everything is a plan and the world would expect it to be chaos! Even under a central government even run by banksters? People will feel better with a strong dollar and buying only American because of no alternatives or getting old fast Americans bought very little?

CREAM's picture

What the Fed don't understand is I'm dyslexic, so $1,300/oz to me looks like $3100/oz. 




GIABO's picture

I am curious how old is everyone here? Im 31 and have been stacking since 2010.

MeelionDollerBogus's picture

40, also since 2010.

Blue Horseshoe loves Au.

Spungo's picture

I lost my paper gold in a boating accident.