Gold Slumps Most In 2014 As "Someone" Dumps $1.37 Billion In Futures At US Open

Tyler Durden's picture

UPDATE: Gold is down 2.5% - the biggest daily drop since early Dec 2013


And this is how it happened... looks like fiduciary dutry just got F**ked...


That US open print was a $1.37 billion notional flush...


In a status-quo reinforcing smackdown, gold and silver prices have been clubbed lower this morning to one-month lows with the biggest drop in almost 2 months. The customary USDJPY surge (and risk asset spike) has accompanied this high volume dump just to make sure everyone believes that BES is fixed, Ukraine is fioxed, Iraq is fixed, earnings are great, and the water is warm....



Charts: Bloomberg

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unwashedmass's picture



they are in full panic mode now. 


thunderchief's picture

Should have known. All the sites were talking about a silver short squeeze. This is their panic attack. Ed Steer has been warning everyone.
So so predictable.

CH1's picture

No sane person would sell that way.... therefore, this is manipulation.

Kreditanstalt's picture

And the DX dollar index goes nowhere yet gold is smacked down...?!?

GetZeeGold's picture



Sooooo.....did Germany get all it's gold back?

gmrpeabody's picture

CNBC still showing gold at $1337..., WTF?

Save_America1st's picture

Sweet!  BTFD if you have some dry powder in the ready.  Maybe just a small purchase though...don't use it all.  We still might get another monkey hammerin' into the 20's range for silver.  Then grab more.  If not, I still think they will eventually allow 24 or 25 to happen and then they will whollop the ever lovin' shit out of it back down into the 21 range or lower if possible.  Then buy more phyzz again. 

Once 22 is breached I'd definitely wait to see it hit 25 and then wait for a major smack down.  They're not going to just let it run to 25, 30, 40 and 50 without a long drawn out managed/manipulated fight over a long period of time.  Lot's of sheep to keep sheering. 

SumTing Wong's picture

Fuckin' Belgium...manipulating all the markets...

N2OJoe's picture

Someone named FED!

Oh where'd that nailgun come from... Fred! I meant Fred!

TeamDepends's picture

We could not resist the Monday sale and made a small (hey, times is tough) Ag purchase.  The guy said they were very busy and had many LARGE orders.  It won't be much longer boys and girls.

topshelfstuff's picture

several of us had posted last Thur, after 2:30pm

as expected, recall last Thus at 2:10pm EST, when the Miners reversed with gold and silver staying up big, and DUST the Miners Bearx2 making an 11% reversal on heavy volume, ending the day Up 5.5% from the Down 5.5% it was and deserved, leaving all us non-In-The-Know Members bewildered, yet knowing what it indicated = is seen today Telegraphed Noted & Posted on right here on ZH last Thur

N2OJoe's picture

Now the big question: Is this an early smackdown of will we still have the usual Tuesday smackdown as well, and should we buy today or tomorrow?

Lore's picture

It doesn't seem coincidental that this happens on Day 1 of the BRICS Summit. Take it as a misguided display of power: JP Morgan bluster. On the other hand, anomalies on this scale usually stand revealed in time as manifestation of emergency action to free up sufficient bullion in order to fill a very large order by a sovereign or other powerful interest, maybe Asian. Really, that seems to be about all the COMEX is good for anymore -- an instrument of manipulation for the kind of people who pick gold teeth out of corpses. The last time the scam seemed on the verge of imploding, America invaded Libya and stole their gold. Lately it was 40 crates looted out of Ukraine.  It was the same with Mali and Iraq, not to mention 911.  Who's next?

Spumoni's picture

You might want to ask ISIS about that...self-fulfilling State Dept. prophecy.

Arius's picture

@ comment above "CNBC still showing gold at $1337"

it must be some gold bug at CNBC who doesn't want to open his eyes, see the reality and smell the roses .... still dreaming that somehow he/she could change the reality ... well, cut the losses and get out ... this is a stampede!

gmrpeabody's picture

Looks like a few folks here didn't realize your remark was <sarc>...

lordylord's picture

The economy is great and their is no strife, political turmoil, or wars brewing anywhere.  I'd sell too.  Oh wait, it's actually the opposite.

Spumoni's picture

Hahahahahahahaha. LOL, matey. All they got was the World Cup Trophy, which will likely turn out to be turdsten.

Me, I've been waiting to see when the July selloff was going to happen. Every year. Same time. Same place. Buy from nexty week to August and sell in September. Blah blah blah. The only reason we had a spike in July was that rents in the Hamptons have gone up.

astoriajoe's picture

Well, that and insanity, which one certainly cannot rule out, although likely a combination of the two.

NoBlahBlah's picture

Okay, I think I understand who is selling but,


Lore's picture

The Fed, through a proxy. This move suggests desperation, probably driven by the need to fill a very large physical order. No real, rational market participant would willingly sell bullion in size at this time. 

Goldenballs's picture

Paper crap flooding a physical ( my arse ) market.Desperation of the scum at the top.

Quinvarius's picture

I don't think we will see a silver short sqeeze at these levels.  They still think they are winning while they swallow fake inventory data and lose physical metal.  When they get squeezed, it will be at much higher levels.  There is nothing more certain to fail than a bunch of confident bankers all doing the same exact thing and group thinking with the wrong ideas.

Spumoni's picture

I have some GPS #s that they can use for their boating accident. Anybody got some scuba gear? Had to sell mine to buy argent at 19 bucks not long back.

Took Red Pill's picture

I posted a quote from Ed Steer on here last week. A fellow ZHer was talking about buying PM's and I put a quote in from Ed saying he was anticipating this drop. Good work ,Ed. You called it!

TheBoyPlunger's picture

The fed boys are desperate to prevent the bullish cross of the MACD on the monthly chart of silver and gold. We all know what happened the last few times the cross occurred...

Da Yooper's picture

Some ass clown on a metal forum told me it was


"Market forces at work"


Yaaaa sure rigged manipulated market forces at "WORK"


venturen's picture

because they just found a billion in gold today or Germany melted their world cup trophy and it had a couple tons of gold?

Tall Tom's picture

No worries. Germany has already contracted with that Chinese firm to make a replica of Gold Plated Tungsten.

Bastiat's picture

Market forces as in: forced market.

Deacon Frost's picture

POMO today, 1.25 Billion, similar to the 1.37 Billion amount in futures.

Its_the_economy_stupid's picture

if the price today matters, you're in the wrong investment. consider equities instead.

philosophers bone's picture

Wow, that's a lot of physical gold that will be delivered!!   /s off

JustObserving's picture

Free and fair markets working for you - the best in the world.  All the world's problems fixed, so why should gold and silver not be in free fall?

More golf, Obama? A bigger bonus, Dimon? 

whopper's picture

me thinks bears have blown their wad. should be interesting to see how low they can move it.

Boston's picture

US Treasury's certainly don't think everything's been "fixed".

nidaar's picture

Cock when it goes up, okra when it goes down, but it's the same dick, got it?

Spumoni's picture

Are you sure it isn't a frozen banana? They don't like the thaw either.

Save_America1st's picture

No...everyone knows it's rigged no matter which direction the paper PM's move.  Because everyone knows it's just the paper game that drives this shit.  Just BTFD in physical if it seems like a good time to do so for yourself.  But never spend all your dry powder at once because obviously it's manipulated (both ways) and you may get another dip later on. 

It will always be rigged both ways until the Crimex finally defaults and collapses and is gone for good.  One day...'s on the horizon and it is going to happen.  It's in the plans.  So just BTFD and keep stacking that shiny phyzz!

SumTing Wong's picture

How many times have you seen a vertical line up like that in PMs? And how many times has someone bought US$1.37B in one shot. We bugs are way too frgual to buy it all and move the market...we do it slowly. (And our wives like it that way.)

fonzannoon's picture

This is it. This is the selloff of paper as the phyz vaults empty. The global unrest coupled with the lack of faith in the global economy has reached a tipping point. This is your last chance to load up on anything physical in return for worthless paper notes before the music officially stops. Good luck everyone. It's go time.

  - 2010

  - 2011

  - 2012

  - 2013

Gief Gold Plox's picture

Amen. If I've learned anything it's no not underestimate the people's ability to stay completely in the dark while our leaders continue kicking the can down the road.