Who Just Bought Half A Billion Dollars Of Gold Futures?

Tyler Durden's picture

Presented with little comment aside to note the surge in gold since Yellen gave markets the all-clear yesterday. It seems someone decided the open this morning was an opportune time to take on half a billion dollars of gold exposure...

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
PartysOver's picture

Can Obama's drones attack paper?

Devotional's picture

ah maaaan, don't give him ideas!!!

dryam's picture

Trick question.  It's the same entity that is going to sell 2 billion dollars of gold futures next week.

Save_America1st's picture

Another question might be: 

Why does a half Billion dollar purchase only make the paper price rise 5 or 6 bucks? 

Someone farts from upwind on any given day and the paper prices can plunge over 100+ bucks in a matter of minutes. 

Manthong's picture

Time will come when a C-note is just a pimple on the chart or a wrinkle in the pocket.

Save_America1st's picture

and so who bought paper silver?  It's up over 20 or 1.18% (kitco chart) over the same time period this morning since gold, eh-hem..."exploded" higher.  So what's the deal there? 

I know it's all manipulated, so my question is basically rhetorical unless someone does actually have the answer as to whom is making these huge purchases this morning. 

But it smells like bullshit as usual, so should we expect another big smackdown before the end of this month or sometime in July?

NoDebt's picture

Whoever knows the answers to those questions doesn't post on ZH.

Pladizow's picture

Manipulation goes both ways!

GetZeeGold's picture

 

 

Word up dawg!

 

Is this baby steps towards getting Germany it's gold back?

 

Doubt it....but they can always hope.

Badabing's picture

http://www.zerohedge.com/news/2014-06-19/china’s-largest-gold-company-seeks-become-kingmaker-gold-market

Front run this

mjcOH1's picture

"Who Just Bought Half A Billion Dollars Of Gold Futures?"

 

I call bullshit.   Next you'll be telling us someone placed a $10billion speculative bet against the Bank of England.

Badabing's picture

http://www.zerohedge.com/news/2014-06-19/china’s-largest-gold-company-seeks-become-kingmaker-gold-market

Front run this

7.62x54r's picture

At least it is a real post, and not a paper promise to deliver a post.

Mesquite's picture

Au mining stocks up for a few days too...

Somebody knows something..?!

ParkAveFlasher's picture

I know that ups are followed by downs.  That's what I know.

Oracle 911's picture

I guess it were the BRICS and some of its associates. And when tomorrow "somebody" will try it hammer down, well the price will rise again even more viciously.

The real fun will begin, when they will demand the delivery. :)

GetZeeGold's picture

 

 

 

Miners.....flip that crap fast kiddies!

Poundsand's picture

The power behind the rule of law is breaking down.  US can't project the power that it once did (whether good or bad is a different argument) and when the sheriff can't project power, lawlessness rises.

Currently on deck we have: 1) Argentina telling bond holders to suck dick, 2) ISIS killing indiscriminately in Iraq and on the verge of toppling a government and opening direct conflict between Iran and the Sauds, 3) Ukraine drinking the US cool-aid and now watching their country fall apart with Russia simply waiting to pick up the pieces, 4) A second proxy war in Syria, 5) No one knows what is happening in Libya, 6) Egypt still trying to recover from the US backed overthrow of it's government 7) China flexing it's muscles in the S. China Sea, 8) the complete breakdown of the corrupt financial system as China purposely starts unwinding the commodity finance scheme, 9) Russia with it's hand on Europe's energy spigot?

When will we hit the tipping point for the great unwind?  I don't know, but it's getting closer and closer every day.  The natives are definitely getting restless.

Flakmeister's picture

The Russians are only going to pick up pieces of something they once had and broke. And I have my doubts about that...

And if you think that is what happened in Egypt, you follow Fox News too closely....

As for Syria, you wnat to make heads or tails outta this?

http://thinkprogress.org/wp-content/uploads/2014/06/EDITED_conflicts_gra...

But other than that, yeah, pretty much bang on...

Poundsand's picture

1. No doubt they once had it and broke it.  It's been broken now for beyond my lifetime.  Doubt it will ever be fixed.

2. I don't watch fox News.

3. Easy.  Turkey, Sauds, Qatar on one side.  Iran on the other.  Iraq and Syria are where the current battle is taking place.  Or even simpler, Sunni vs. Shia.  The rest is posturing by those on the receiving end of the spigot to see who gets the most funding.  And by the way, it's wrong.  Based on this chart, ISIS doesn't get any funding except from "alleged funding from Assad"?  I don't by that.  But I do like the chart's way of showing how complicated it appears to be.

Flakmeister's picture

Re; Fox and Egypt, that is surprising because only right-wing NeoCons and clowns on Fox saw Egypt in that light...

You forgot the Kurds and the fact that many mutually contradictory relationships exist...

And while not shown, there is the relationship between Assad and Russia...

What makes it complicated is how you handicap the various parties because ultimately, the spice must flow...

NESD's picture

Isn’t a good possibility that a big player covering big short paper positions is the buyer.  At least a short term low seems to be indicated on the chart so covering shorts now seems a reasonable thing for a trend follower to do. No sense dribbling in buys once the trend has changed. Cover now before any further damage.

DeadFred's picture

I admit it, it was me, fat fingers and all. Silver just popped through a multi-year downtrend resistance line. Manipulation is real but people and machines watch those lines. If silver closes the week above that line expect a strong upward movement. I see possible resistance at about $25, $28, $35 and the holy grail $50. Gold trends are not as clear. My opinion and $1.75 will get you a cup of coffee at Starbucks.

greatbeard's picture

>> $35

There will be resistence at $35, me.

7.62x54r's picture

It'll get punched when the idjits figure out that SLV can't deliver on the longs.

constantine's picture

Silver probably just reacted due to HFT algos that are programmed to buy silver on a gold spike.

MFL8240's picture

We are there now, jsut go to the grocery store!

oak's picture

"Why does a half Billion dollar purchase only make the paper price rise 5 or 6 bucks? "

Do not know why, 5/6 usd move is so little. Whoever or whatever, it is a silly trade. Does that mean the gold price cannot move higher as the counterparty is happy to sell to this whoever.

Leonardo Fibonacci2's picture

The account happens to be in Belgium

Theosebes Goodfellow's picture

~"Can Obama's drones attack paper?"~

Haha! That's funny. Kind of like how many angels can dance on the head of a pin, right? ;)

JJdog's picture

Manipulating gold price up? why would anyone buy that much all at once?  

tmosley's picture

The manipulators play both sides to fleece the speculators while keeping prices low overall to please their real clients (central banks and foriegn governments).

It's real and literal treason.

SilverRhino's picture

That was somebody (China or Russia) sending a shot across the bow.

Mercuryquicksilver's picture

That was Russia loading. The shot will come when she demands physical. All the CB's and their puppet governments know what's going down.

boattrash's picture

"Twas Putin, just hedging his bets on those pesky sanctions.

RafterManFMJ's picture

Read another poster yesterday and he posited that the US would switch to a gold standard for dollars in the US and all other dollars outside the US would be null and void.

Expanding, naturally they would repudiate all US Treasuries and instruments, because terrorism/war/Russia/Hackers.

Cannot imagine this happening as 1) it assumes the US really has some gold (perhaps Nationalize all foreign gold held in custody?) and 2) the average US citizen would benefit. Cannot have that.

Perhaps do the above, and set the new US Dollar at a price of 5K per ounce; US debt is devalued or repudiated and a partial reset is pulled off...

One tell for the above scenario would be if US multinationals start repatriating their foreign cash holdings en masse.

quasimodo's picture

Sorry, but all I can muster after reading these "announcements" is a big fat LMFAO.

Not dissing Jim Willie or anyone else with a shred of credibility(besides KWN) but I think most folks have become a bit calloused when they think something along the lines of actual justice or reward for those that hold things of real value will come to fruition, and justice to those that are fucking the duck behind the curtain.

It goes without saying there are many that might purchase metals and other things of real value looking for that quick profit, however the smart folks purchase these things and forget about the daily movement. Still, it gets old knowing said commodities are getting the shaft so often in relation to where they probably should be valued.

Doña K's picture

<<<<< just paper  >>>>>

Unless he/she takes delivery

F0ster's picture

I'm looking at my gold and it's still the same size :)

midtowng's picture

Maybe just paper, but could be short-covering. The squeeze is over.

TeamDepends's picture

That was us.  Sorry but we're going to take delivery and see what happens.

free_as_in_beer's picture

More paper.  You will get a warehouse receipt, and pay storage while it takes months for you to withdraw the gold.

 

thank you, have a nice day.

Muddy1's picture

"months to withdraw"

the Germans wished it only took months

boattrash's picture

"months to withdraw" Think China's Aluminum

Me.Grimlock's picture

It does only take months...

84 of them +/-