Gold Slammed As 'Panic-Seller' Dumps $520 Million In Futures

Tyler Durden's picture

You can't make this up. An initial dump in gold happened when Europe was getting going late last night but as the US wakes up and markets get active, someone (panic-seller) decided it was an entirely optimal time to sell $520 million notional gold futures - sending the price of the precious metal down $7. Intriguingly, though the notional size was large, the actual move is not as large as we have become used to with the ubiquitous Slamdowns (and it's a Tuesday). At the same time, USDJPY was ramped... because we must maintain the appearance that stock markets are operating normally despite civil wars, coups, global growth slowdowns, and de-dollarization growing.


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Haus-Targaryen's picture

How is it paper and bullion have yet to seperate?

LawsofPhysics's picture

How much bullion do people physically exchange for real goods, services, or commodities?

Manthong's picture

.. the “market” is not rigged... nope.. not a bit.. what’s a lousy $ .5 Trillion between friends?

CH1's picture

Selling at the worst time of day in large amounts - a guaranteed way to get the worst price.

Lionhearted's picture

Unless you shorted twice the amount and you are trying to get out of it.

kliguy38's picture

hehehehehe...........too funny

Xibalba's picture

Yellen speaking today or something?  

eclectic syncretist's picture

With China holding over 1 trillion dollars worth of US treasuries it would have cost them 0.05% (1/20 of one percent) of their holdings to buy this dip.  That's the real reason this is just pissing in the wind by the manipulators, whom the clock is running down on ever more rapidly now.

AllThatGlitters's picture

What dip?  How much will it cost to buy what has now become a big rip?

Live Gold:

Glad I slept in today.

OC Sure's picture

That is not supposed to be pointed out until after the whact.

Manthong's picture

oops.. I meant billion..

but whats the diff?  it's just CB digital fiat.

disabledvet's picture

"Liquidity shortfall." Panic buying of treasuries continues apace.

Gold has no counterparty...but still costs billions in dolares to get out of the ground.

Silver is even worse from what I'm told.

strannick's picture

As a gold/silver stacker, that these banks would spend a half billion dollars so to give me a $7 discount, I can only say I'm touched. Thank you.

Tabarnaque's picture

Pathetic really. They only managed to shave about $5 off the price of gold… This is the real story today. Their dirty rig is coming to an end soon as the new iron curtain between the West and the East divides the BRICS from the fascist Anglo-American banking cartel. The cartel is bankrupt financially and morally. The BRICS will take the lead in the New World Order. .

Stay the course and keep stacking. I just sold my motorbike to buy more physical gold. It’s my way to say: F__K you to the banksters.

lakecity55's picture

Agree. It seems the last few whack-downs have not been as severe as a year ago...

free_lunch's picture

I just sold my motorbike to buy more physical gold.

Don't stop living!!

This game can go on for decades, prepare and follow up, but don't forget to enjoy life in the meantime. Otherwise there is no reason to secure it..

outamyeffinway's picture

Right. So when silver doubles, sell half the position and buy the bike back and have some AG left over. Well lived!

Tabarnaque's picture

That's exactly what I am thinking. And I don't give it more than 6 months before we see some major fireworks with the PM's.

The bike was getting old too and there is a new one that I really want to put my hands on. So all together I think that I made the right move. Plus I love the feeling of taking delivery of a few more real gold coins because I know that it pisses off the fascists banksters. It's my way to fight against them.


dark pools of soros's picture

So that means $80 for all you mindless stackers that kept buying into the $40's saying $200 was a sure thing

Tabarnaque's picture


This game isn't going to go on for decades. The USD doesn't have more than 2 more years left as world reserve currency. The infrastructure and systems that the BRICS are developing should all be up and running within the next 24 months. That's how I see the time horizon on the death of the fascist US dollar. 2 years max. And the Ukraine mess and the idiotic US Pivot to Asia is only accelerating the demise of the USD. The other side of the planet has woken up and are rushing out of the USD. Modi's election in India will further accelerate the move away from the USD.

JRobby's picture

"This game can go on for decades"


And will. The Sheeple have lost the will needed for all out revolution.

lunaticfringe's picture

OMG, I nearly had a heart attack. I can't imagine life without my bike. Selling it for 12 oz gold? Nyet. And I love gold.

Oracle 911's picture

According Dr Jim Willie the Chinese bought the JPM, and told them keep the gold price down:

-which the JPM is doing, while buying the phys metal like crazy (unofficially about 1000 tons per month since 2012). So when the western vaults will be emptied (it will be in this or next moth) we will see the COMEX closure, gold, copper and oil backed currencies and the USA going bankrupt.

According Willies source the London banksters are forced hand over their gold and the Russians and Chinese each have about 20 000 tons of gold.

Pure Evil's picture

That's just down right barbaric!


Of course I'm talking about the gold, whad ja think I was talking about.


Kirk2NCC1701's picture

Think in terms of basic principles of CSI:  Motive, Means and Opportunity?  Who fits the bill best (from a range of Suspects)?

At this point I'd have to suspect the BOC, rather than the BOE or the Squid.  / IOW... Who did it?  The Chinese butler did it. /sarc

Keep stacking (BTFD!), packing and racking.  And stay out of debt, no matter how enticing that "Zero-down, 1% interest" offers may be.

SoilMyselfRotten's picture

Selling at the worst price. Talk about Fed-douchery duty

StychoKiller's picture

The only way it could be more obvious is if Yellen showed up with some coopuns in her hot little hands!

Arius's picture

interesting article on How Long this thing can last???

eddiebe's picture

What am I missing? All I see is the same question repeated.

insanelysane's picture

It can go on a long time.  We haven't gotten to our North Korean phase yet.

Greenskeeper_Carl's picture

Makes sense. Panic sell your gold, cuz who needs gold with all the conflict in the world. Plus, they can use that money to BTFD in the Thai market.

Slave's picture

I REALLY want to know who downvoted your

CPL's picture

IMF printed a pile of money a couple of weeks ago...pardon, 'borrowed' money.

Seb's picture

500 Millions is not equal to 0.5 Trillion. It is 0.5 Billion (0.0005 Trillion).

Stackers's picture

Must keep gold under $1,300

Must keep gold under $1,300

Must keep gold under $1,300

Latina Lover's picture

Manipulated markets are part and parcel of the USSA crony capitalist, aka Fascist System.

Cacete de Ouro's picture

if only Bart Chilton was here 

StychoKiller's picture

Hmm, Bart Simpson could do just as well!

CH1's picture

How much bullion do people physically exchange for real goods, services, or commodities?

THAT is the problem, LoP. People don't USE their metals. Looking at it on a shelf is nice, of course, but they never actually use it in commerce. If we want to bypass and/or take down the cartel, THAT is how to do it.

LawsofPhysics's picture

Yep.  Full faith and credit.  So long as the paper is accepted, people still have faith.  Unfortunately, as history shows time and time again, faith can be lost very very quickly.

cowdiddly's picture

I dont know about you guys, I guess you have not tried. You would probably not believe how many ounces I have acquired by offering 10 discount if paid in AU/AG selling stuff. I also bought a used car for my daughter last year with coin.

I offered a  smaller John Deere tractor last year for 4 ounces. Did not last a week. Damn shoulda said 5.

Where I live its good money but you can't offer it to the idiot at a Burger King.

Xibalba's picture

They'll try and tax that type of stuff soon

LawsofPhysics's picture

Good luck with that.  "What transaction"?

BrosephStiglitz's picture

Right.  There is no electronic account of a barter transaction occurring.  Even on a balance sheet it should be tax neutral as it is a physical asset swap, rather than any form of income.  It wouldn't even show up on a cash-flow, or income statement.

It's probably no coincidence that so much gold/silver is finding its way out of the US and into other parts of the world.  Power brokers must be absolutely furious about stacking behavior. 

Oracle of Kypseli's picture

Be careful there as bartering is against the law because is considered tax evasion. In a small scale it can go unnoticed or can be creatively penciled out. But the larger the transaction the most difficult it is to hide.

You can't hide getting a tractor for 1000 bushels of corn. 

BrosephStiglitz's picture

Actually we're both right:

So barter trades are treated as cash.  Trades for new goods should incur sales tax.  Trades for second hand goods should not (due to double taxation). Trades using goods which have appreciated in value (like silver, and take note here folks) incur capital gains tax.

It is quite difficult for tax authorities to pin down I suppose, but I am pretty sure if they catch people doing barter and evading taxes they will do everything short of crucifying you in public to make an example of you.

Personally I am a big fan of barter as a successful negotiator can do very well for themselves by adding value through asymmetric deals. 

cowdiddly's picture

Wrong, batering is not against the law. Non tax compliance is. There is a tax form for barter transactions. You better stay at Burger King. Things like capital gains, MACRS depreciation, residual value, like kind exchanges are probably more than you will be able to understand after a stupid statement like that.

Its just a simple asset exchange and does not even move to the other side of the balance sheet, it"s simply moving up in liquidity from property, plant, equipment to cash and cash equivelents.

I would refer you to about 4 articles up. "The decline in small business skills=decline in basic skills", Read it.

cowdiddly's picture

Oh you still pay excise taxes on things like a car its just you have to convert the value to a currency value at the tax office. In western states people know what it is. Heck in Utah you can pay your taxes in gold if you prefer.