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It's 8:00 AM: Do You Know Where Your 'Un-Rigged' Non-Barclays Gold Slam Is?

Tyler Durden's picture




 

Just like stocks go up on Tuesdays in the US (and Wednesdays in Japan).. and volatility always falls... so shortly after 8am ET this morning 'someone' decided it was the optimal time to unleash $450 million notional of gold futures. Just as we saw earlier in the week, this sizable dump only achieved a $5 depreciation in price as it seems the inexorable efforts of status quo stabilizers to ensure the only real indicator of empire collapse is not flashing red remain in full effect. Given that Barclays is now out ofthe business of rigging gold prices, the question remains: who is?


Gold futures 'odd' volume dump..

 

Silver also saw high volume dumping...

 

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Fri, 05/23/2014 - 08:41 | 4788032 LawsofPhysics
LawsofPhysics's picture

Just say "thank you" and keep stacking.

Fri, 05/23/2014 - 08:50 | 4788064 Xibalba
Xibalba's picture

fuck the NYFRB  

Fri, 05/23/2014 - 08:51 | 4788072 Stackers
Stackers's picture

Must keep gold under $1,300

Must keep gold under $1,300

Must keep gold under $1,300

Fri, 05/23/2014 - 09:19 | 4788174 cifo
cifo's picture

What I know every morning at 8 is that my gold is safe on the bottom of the lake.

Fri, 05/23/2014 - 09:30 | 4788214 magnumpk
magnumpk's picture

Sure seems that way.  Anyone know what's magic about 1,300 for the manipulators?

Fri, 05/23/2014 - 09:42 | 4788250 BigJim
BigJim's picture

We Masters of the Universe have PhDs in economics, and are capable of determining the correct price of everything, which obviously includes gold.

We havea model we call our Stochastic-Historic Individual Timeline Heuristic Economic Advisor Device System that tell us everything we need to know about the correct price of gold.

Fri, 05/23/2014 - 09:54 | 4788285 Stackers
Stackers's picture

Whole numbers are always big psychological resistance/support levels, $1,000... 1,100... 1,200... 1,300... ect.

Normally it would be understandable to see a "market" behave this way ..... except for the blatant contract dumping, all at once, at the exact same time, over and over and over again.

Fri, 05/23/2014 - 11:39 | 4788711 magnumpk
magnumpk's picture

That's true.  Maybe it will take a failure to deliver by the Comex or something before it all unravels.

Fri, 05/23/2014 - 11:25 | 4788643 Me.Grimlock
Me.Grimlock's picture

Can't sleep... clowns (at the Fed) will eat me.

Fri, 05/23/2014 - 08:52 | 4788077 Bindar Dundat
Bindar Dundat's picture

if you want to  clean up the spider webs the first job is to find and kill the spiders.

 

 

Fri, 05/23/2014 - 08:53 | 4788082 Bernoulli
Bernoulli's picture

Agree. But hurry up. Not much time left 'til there is no more.

Fri, 05/23/2014 - 09:01 | 4788109 ZH Snob
ZH Snob's picture

Plunkett, you naughty boy!  Where are you?

Fri, 05/23/2014 - 08:41 | 4788033 flacon
flacon's picture

Hopefull this is bullish. 

Fri, 05/23/2014 - 08:43 | 4788041 Quintus
Quintus's picture

The manipulators are panicking.  Desperately lashing out and not even making an attempt to cover their tracks or hide their motivation.

This will not end well.

Fri, 05/23/2014 - 09:43 | 4788253 BigJim
BigJim's picture

I suppose that depends on how you define 'well'.

I and millions of others who believe in sound money are hoping it will end very well indeed.

Fri, 05/23/2014 - 12:09 | 4788858 Quus Ant
Quus Ant's picture

Godspeed, BJ- riding the crest of the coming tsunami to new heights of oligarchic power.  never whistle past a graveyard.

Fri, 05/23/2014 - 08:43 | 4788044 jubber
jubber's picture

DXY at 8050 not helping

Fri, 05/23/2014 - 09:04 | 4788121 Dr. Engali
Dr. Engali's picture

DYX has very little to do with it. Most other commodities are up.

Fri, 05/23/2014 - 09:14 | 4788151 orangegeek
orangegeek's picture

Yep - and the pressure builds as Europe tries to drive the value of the Euro down too.

 

KA-BOOM!!!!  oh wait, said it too soon.

Fri, 05/23/2014 - 08:43 | 4788045 dressguard
dressguard's picture

And gold will go up again like a few days ago. Gold is getting very resilient these days. Will make the job hard for the manipulators.

Fri, 05/23/2014 - 08:50 | 4788063 Sudden Debt
Sudden Debt's picture

20 CENTS OFF SILVER??? IS THAT THE BEST THEY CAN DO??????????????????

WTF!!!!

KNOCK OFF 5 DOLLARS OR SOMETHING!!!

Fri, 05/23/2014 - 08:57 | 4788094 Boston
Boston's picture

KNOCK OFF 5 DOLLARS OR SOMETHING!!!

They will.

When (not if) equities crash, silver could plunge along with them. Witness 2008---silver dropped form ~20 to <10 in six months. Why can't this happen again?

Fri, 05/23/2014 - 09:03 | 4788117 Sudden Debt
Sudden Debt's picture

when... yeah... when... not when I'm counting on it...

Fri, 05/23/2014 - 09:08 | 4788129 Dr. Engali
Dr. Engali's picture

It won't be like 08. If the paper prices of silver/gold collapse like in 08 there won't be any physical to grab.

Fri, 05/23/2014 - 09:09 | 4788136 StormShadow
StormShadow's picture

Bingo!!!

Fri, 05/23/2014 - 09:17 | 4788164 actionjacksonbrownie
actionjacksonbrownie's picture

When the paper price in '08 was <$10 you couldn't find physical silver anywhere for less than $15

Fri, 05/23/2014 - 09:24 | 4788192 Boston
Boston's picture

Nope, I did. Sure, I couldn't get ASE's anywhere near that price, but 10 and 100oz bars, were no problem.

Fri, 05/23/2014 - 10:48 | 4788462 Bay of Pigs
Bay of Pigs's picture

That's bullshit. Shortages were everywhere.

Fri, 05/23/2014 - 09:27 | 4788201 pods
pods's picture

Except Methman, who was digging it out of the ground for $5 an oz.

pods

Fri, 05/23/2014 - 09:08 | 4788133 StormShadow
StormShadow's picture

The PAPER price of silver and gold WILL go lower in the short and long term. The REAL price of the actual hold it in your hand and nowhere else physical commodity will be, well, priceless. The idea of paper price is a new idea on the thousands year old value of G&S. there was no paper price before relatively recent history as gold WAS money (and really still is). It never ceases to amaze me how so many people cannot seem to wrap their head around this universal truth.

Fri, 05/23/2014 - 09:12 | 4788144 1stepcloser
1stepcloser's picture

yeah and my LCS says "Fuck you pay me $25 oz...while I have silver to sell"...then I say ok!

Fri, 05/23/2014 - 08:51 | 4788073 dressguard
dressguard's picture

How are these guys making money when half an hour later the gold price recovered? I don't get it. Is this pure desperation?

Fri, 05/23/2014 - 08:55 | 4788087 Quintus
Quintus's picture

I believe so.  Time after time in recent weeks, gold has been gradually driven down over the course of a day or two to the bottom of its (very tight) trading range and then 'Someone' unloads a shit-ton of paper to - I assume - try to force a downside breakout and set the panic-selling in motion.

Time after time it hasn't worked.  Being psycopaths though, the manipulators won't give up until either they succeed or the market breaks.

Fri, 05/23/2014 - 08:51 | 4788074 Dr. Engali
Dr. Engali's picture

Fucking cracks me up. Their hammer appears to be broken.

Fri, 05/23/2014 - 09:00 | 4788089 SoilMyselfRotten
SoilMyselfRotten's picture

With all the nailguns floating around you'd think they wouldn't need a hammer.

An aside, it's nice to see the 'breaking news' scared away the manipulators.

Fri, 05/23/2014 - 11:26 | 4788647 Me.Grimlock
Me.Grimlock's picture

I've decided to become a rap artist.

 

I henceforth crown myself MC Nailgun.

 

"Please, Nailgun, don't hurt 'em."

Fri, 05/23/2014 - 09:13 | 4788148 NoDebt
NoDebt's picture

First the London Gold Fix goes kaput, then Barclays get fingered for manipulating gold prices (just one rogue low-level employee, of course)... still the morning slam-down.

Like I said weeks ago, what are we gonna do when the morning slam-down keeps happening?  Nothing.  Sit there and take it.  We'll likely never know who is doing this <cough> <central banks> <cough> and if we did, it wouldn't stop it.

Fri, 05/23/2014 - 09:29 | 4788211 Dr. Engali
Dr. Engali's picture

"Like I said weeks ago, what are we gonna do when the morning slam-down keeps happening? "

 

We are both on the same page. This will continue until the system finally implodes. Hopefully sooner rather than later.

Fri, 05/23/2014 - 10:32 | 4788407 DaddyO
DaddyO's picture

I guess since TPTB were willing to sacrifice the London connection, they now have a new and as yet undisclosed method of manipulation.

We all know the Central Banks are at the heart of this, just haven't figured out how they're doing it exactly.

You know that when TPTB are willing to admit to some secret something, they have a new, undisclosed method or technology.

SR-71/Aurora comes to mind. Why would they retire an outstanding, though old bird unless they had something better, faster, trickier?

DaddyO

 

Fri, 05/23/2014 - 08:52 | 4788078 agstacks
agstacks's picture

and we're back to where we started..

Fri, 05/23/2014 - 08:53 | 4788083 beegle
beegle's picture

do not underestimate the power and arrogance of the Mafia ... I say do not discout Barclays , now even more that they know the ticket to steal is just a hundred grand 

Fri, 05/23/2014 - 08:54 | 4788085 freedom5000
freedom5000's picture

I guess there is no end to the fake future contracts they can print off with their printers, when will run out of printer paper?

Fri, 05/23/2014 - 08:59 | 4788105 Quintus
Quintus's picture

Never forget that behind the scenes there is a massive flow of physical from west to east.  They'll never run out of paper, but they are fast running out of the underlying asset that backs that paper.  When faith in their paper is lost it will be (a) sudden and (b) permanent.  The west's abilility to dictate the gold price will then be at an end, having neither the metal or the means to sell paper that is accepted as a real proxy for it.

Fri, 05/23/2014 - 09:02 | 4788113 BandGap
BandGap's picture

Will the owners in the east ever want to see the value of their investment go up? I mean, based on true supply and demand?

Also, who is buying these futures contracts? Another bank, perhaps? I can see where they ping pong the paper back and forth to keep the prices low.

Fri, 05/23/2014 - 09:05 | 4788124 BBullionaire
BBullionaire's picture

Looks like a very frustrated 'Whack a mole' player

Fri, 05/23/2014 - 09:10 | 4788140 KansasCrude
KansasCrude's picture

Apmex is running $1.99 over spot for 2014 Silver mapes until midnite tonight Eastern.  ANY QUANTITY. $14.95 delivery.  Damn good deal for .9999. 

Even if you can only stack 50 or so thats a great value

Fri, 05/23/2014 - 12:32 | 4788965 magnumpk
magnumpk's picture

thanks for the tip.  just bought some...

Fri, 05/23/2014 - 09:12 | 4788147 SilverIsMoney
SilverIsMoney's picture

Hahahahaha... This is just getting so FUN now. Theyre clearly screwed! Watching them try to fight nature is priceless!

Fri, 05/23/2014 - 09:14 | 4788152 Bourbonite
Bourbonite's picture

Special offer for ZH'ers. I can give you a raw spot gold and silver feed with VWAP spreads of 15 and 1 cents, margin terms 1% or better if you want, and wil even thow in a free far away 'alternative bank account, no name debit card for free. www.aaasiafx.com  Our metals spreads are the best in Asia.  And we're really nice people who drink and party a lot when we're not waiting for the slamdowns.

Fri, 05/23/2014 - 11:08 | 4788566 Canucklehead
Canucklehead's picture

You've got one too many "a"s in your link.

Fri, 05/23/2014 - 09:17 | 4788163 russwinter
russwinter's picture

A Multi Polar World has Arrived and Gold Suppression:

http://winteractionables.com/?p=11928

 

Fri, 05/23/2014 - 09:18 | 4788166 orangegeek
orangegeek's picture

Gold has been indicating lower moves for some time

 

http://bullandbearmash.com/chart/spot-gold-daily-continues-consolidating...

 

Whether it "makes sense" or not.  Here's one that does make sense - markets near all time highs - 50M Americans on food stamps - get it?

Fri, 05/23/2014 - 09:27 | 4788203 Calculus99
Calculus99's picture

Sorry to say that I don't think the Gold manipulation will end any time soon as there's a) too much money to be skimmed, sorry I mean 'made', and b) the investment bankers are clever, slimey, and very greedy, so they'll just work out new secret and quiet ways to scam.

The time it will end, and end it will, will be when there's literally no more physical (in any quantity) to buy. Then you'll probably see a $200 rise over a day. That day IS coming so keep gently stacking - I'm a buyer of 3 ounces PHYSICAL every month regasrdless of where the price is. Personally I hope it will go sub-$1,000 because then I've got FAR more to buy than 3 ounces and I don't think I'll be alone...

However, I think sub $1,000 is unlikely but you never know is these crazy times.

 

Fri, 05/23/2014 - 09:36 | 4788231 youngman
youngman's picture

Somewhere in some conference room there were a bunch of TPTB setting the price of gold and silver...which is where we are at and have been for the last two years more or less....this price was agreed upon somewhere...for some reason...

Fri, 05/23/2014 - 09:43 | 4788254 Billy Shears
Billy Shears's picture

LOL!

Fri, 05/23/2014 - 09:45 | 4788261 The_Small_Lebowski
The_Small_Lebowski's picture

im a stacker too, and as much as i hope there is some light at the end of the tunnel, i think all of you are deluded to think that this is it! ANY action we see in the 'markets' has been planned and agreed well in advance of you and I seeing it. To think otherwise is to live in fantasy land

Fri, 05/23/2014 - 11:13 | 4788343 Kaiser Sousa
Kaiser Sousa's picture

hey i was drunk and woke up late...

they got real money on sale again???

Fri, 05/23/2014 - 10:10 | 4788344 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Yellen to ZH stackers:   I win bitchez....now buy stocks or fuck off already.

Fri, 05/23/2014 - 10:12 | 4788349 RaceToTheBottom
RaceToTheBottom's picture

I hope the fall guy squeals and it extends up the food chain.

Fri, 05/23/2014 - 11:28 | 4788656 Me.Grimlock
Me.Grimlock's picture

You leave Lee Majors outta this, you brute!

Fri, 05/23/2014 - 11:31 | 4788671 grekko
grekko's picture

Keep dreaming.  The elites already own Scotland Yard, the FSA, and all other important government agencies that would put them in the slammer. Pitchforks, torches, and rope will be the final step.

Fri, 05/23/2014 - 11:32 | 4788677 disgruntled hou...
disgruntled housewife's picture

I watched a German TV show -Makro- and they noted JP Morgan, Citibank, and HSBC were responsible for dumping paper gold after hours to manipulate the price.  They also discussed Goldman Sachs advice to clients to sell gold while in the meanwhile Goldman was buying.  They discussed how Germany was not even allowed to see their gold on deposit in the U.S. and they believed it was long gone and had been sent to China.  I don't have the link but I found it here on ZH or Max Keiser site.

Fri, 05/23/2014 - 11:55 | 4788779 johnjkiii
johnjkiii's picture

Swell opinions here but is anybody making money? All of the screaming & whining in the world can be assuaged by taking advantage of what you know, not what you believe. Right now GLD is in a mild trend lower, SLV is flat. If you make money by trading with the trend you then have the luxury of piss moaning about the reason.

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