• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

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...

 

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Thu, 06/19/2014 - 08:29 | 4872971 Devotional
Devotional's picture

just paper

Thu, 06/19/2014 - 08:33 | 4872984 PartysOver
PartysOver's picture

Can Obama's drones attack paper?

Thu, 06/19/2014 - 08:34 | 4872990 Devotional
Devotional's picture

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

Thu, 06/19/2014 - 08:37 | 4873000 dryam
dryam's picture

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

Thu, 06/19/2014 - 08:57 | 4873078 Save_America1st
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. 

Thu, 06/19/2014 - 09:02 | 4873109 Manthong
Manthong's picture

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

Thu, 06/19/2014 - 09:15 | 4873168 Save_America1st
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?

Thu, 06/19/2014 - 09:21 | 4873201 NoDebt
NoDebt's picture

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

Thu, 06/19/2014 - 09:46 | 4873328 Pladizow
Pladizow's picture

Manipulation goes both ways!

Thu, 06/19/2014 - 10:59 | 4873657 GetZeeGold
GetZeeGold's picture

 

 

Word up dawg!

 

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

 

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

Thu, 06/19/2014 - 11:05 | 4873727 Badabing
Badabing's picture

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

Front run this

Thu, 06/19/2014 - 19:58 | 4875937 mjcOH1
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.

Thu, 06/19/2014 - 11:08 | 4873741 Badabing
Badabing's picture

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

Front run this

Thu, 06/19/2014 - 11:16 | 4873751 Badabing
Badabing's picture

Re hypothecated post

Thu, 06/19/2014 - 13:39 | 4874450 7.62x54r
7.62x54r's picture

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

Thu, 06/19/2014 - 14:40 | 4874704 bilbert
bilbert's picture

+10

Thu, 06/19/2014 - 09:50 | 4873339 Mesquite
Mesquite's picture

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

Somebody knows something..?!

Thu, 06/19/2014 - 09:57 | 4873359 ParkAveFlasher
ParkAveFlasher's picture

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

Thu, 06/19/2014 - 10:16 | 4873479 Oracle 911
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. :)

Thu, 06/19/2014 - 11:01 | 4873701 GetZeeGold
GetZeeGold's picture

 

 

 

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

Thu, 06/19/2014 - 11:55 | 4873938 Poundsand
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.

Thu, 06/19/2014 - 12:03 | 4873970 Flakmeister
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...

Thu, 06/19/2014 - 12:55 | 4874218 Poundsand
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.

Thu, 06/19/2014 - 14:06 | 4874515 Flakmeister
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...

Thu, 06/19/2014 - 12:55 | 4874202 NESD
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.

Thu, 06/19/2014 - 09:44 | 4873317 DeadFred
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.

Thu, 06/19/2014 - 10:01 | 4873389 greatbeard
greatbeard's picture

>> $35

There will be resistence at $35, me.

Thu, 06/19/2014 - 18:31 | 4874458 7.62x54r
7.62x54r's picture

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

Thu, 06/19/2014 - 10:18 | 4873485 constantine
constantine's picture

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

Thu, 06/19/2014 - 09:59 | 4873375 MFL8240
MFL8240's picture

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

Thu, 06/19/2014 - 09:31 | 4873238 oak
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.

Thu, 06/19/2014 - 09:19 | 4873192 Leonardo Fibonacci2
Leonardo Fibonacci2's picture

The account happens to be in Belgium

Thu, 06/19/2014 - 11:10 | 4873753 Theosebes Goodfellow
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? ;)

Thu, 06/19/2014 - 09:21 | 4873199 JJdog
JJdog's picture

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

Thu, 06/19/2014 - 09:40 | 4873298 tmosley
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.

Thu, 06/19/2014 - 10:18 | 4873487 SilverRhino
SilverRhino's picture

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

Thu, 06/19/2014 - 10:49 | 4873646 Mercuryquicksilver
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.

Thu, 06/19/2014 - 10:39 | 4873591 boattrash
boattrash's picture

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

Thu, 06/19/2014 - 09:46 | 4873324 SilverDoctors
SilverDoctors's picture

Just paper...but they're riding the coattails of the Chinese & Russians, who are accumulating anything BUT paper. 
Jim Willie is now claiming that the announcement of a new gold-backed currency block (which will include Germany & Japan) will happen in 2014!  

Thu, 06/19/2014 - 09:58 | 4873368 RafterManFMJ
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.

Thu, 06/19/2014 - 11:17 | 4873781 quasimodo
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.

Thu, 06/19/2014 - 10:11 | 4873443 Doña K
Doña K's picture

<<<<< just paper  >>>>>

Unless he/she takes delivery

Thu, 06/19/2014 - 10:16 | 4873457 ZH Snob
ZH Snob's picture

here we go.

Thu, 06/19/2014 - 10:23 | 4873505 F0ster
F0ster's picture

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

Thu, 06/19/2014 - 11:29 | 4873833 midtowng
midtowng's picture

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

Thu, 06/19/2014 - 08:31 | 4872976 TeamDepends
TeamDepends's picture

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

Thu, 06/19/2014 - 08:33 | 4872985 free_as_in_beer
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.

Thu, 06/19/2014 - 08:58 | 4873091 Muddy1
Muddy1's picture

"months to withdraw"

the Germans wished it only took months

Thu, 06/19/2014 - 10:48 | 4873643 boattrash
boattrash's picture

"months to withdraw" Think China's Aluminum

Fri, 06/20/2014 - 13:18 | 4878450 Me.Grimlock
Me.Grimlock's picture

It does only take months...

84 of them +/-

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