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Gold Slumps Most In 2014 As "Someone" Dumps $1.37 Billion In Futures At US Open
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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More discounted buying... looks like they are going for the $1300 handle.
BTFD BTFD BTFD
Just don't buy fucking anything made of paper
Bring it on, fuckers! Is this all you can do? LOL!
Geez.
A $10 increase is a surge and a plus $30 drop is just a slump?
The headline writer must have bought in the 90's.
A $10 increase is less than 1%.
A $30 decrease is about 2%.
Given that most of the market never intends to take delivery, and thus will never discover they've been sold a contract for a parcel of 'nothing' under the trade name 'Gold', under what circumstance does confidence that this is a market collapse?
Political disorder in Ukraine potentially leading to GTNW and a cataclysm of entangling alliances.
Political disorder (spy scandal) threatening major alliance in Germany.
Political disorder in the Levant, Syria, and Iraq that, if successful, may lead to the biggest global destabilizer since the Ottoman Turks invaded Europe.
Financial disorder in Portugal, and Spain, and France, and Italy, and Greece...
Policy disorder in the management of the International Reserve Currency.
Political disorder, domestic and foreign, in the administration owning that reserve currency.
Monetary disorder in Japan.
Financial and military disorder growing in the major alternative to the above - China.
Why on earth would any sane person be selling Gold right now, given the choice??????
What really scares me about these moves is that the longer these sociopathic muddafukers keep doing this crap, the bigger the nightmare when it all comes crashing down. We'll have money (gold/silver) to buy stuff, but there won't be any stuff worth buying. Reminds me of that poor bastard in the old twilight zone show who finally has the world all to himself, so he can read all the books he wants, but he accidentally breaks his glasses. The world will be our oyster, but it will be rotten as hell.
Wait... when the temperatures go up people say global warming is a hoax.
Since the gold price went down... does that mean the slam down is a hoax?
Just trying to understand how numbers work in opposite-world aka America
Also the gold vs silver trend, 285 = gold / silver1/2, is nearly on track again.
"Someone" dumped $1.37 BILLION in "paper gold" futures in one lump just as the U.S. markets opened?
What BETTER way to drive down the price at no cost to oneself? Short-selling paper that will be WORTHLESS when someone actually tries to cash it in for physical gold, since there will NOT be any physical gold available!!!
Of course, I have NOT read of anyone dumping $1.37 BILLION of PHYSICAL GOLD, have you? What I have, I am KEEPING. And if the price of physical gold drops below $1250, I am buying more!
- Jack4952
As anyone can tell, gold isn't manipulated so the need for prosecutions for doing it are un-warranted.
(sarc off)
I don't mind... I get paid in gold, and I don't spend it all.
Keep up the SALE on gold, you POS bankster scumbags, and I'll keep stackin'
It was nice seeing my last buy of PM regain some of the seller's premium. and it's gone. Whatever, buy some more in a few weeks. Where else will I dump my spare cash? Got enough guns n ammo.
thx for the smack. Nice bit of loading today.
On sale again!
It should be obvious to all but the completely delusional that the PM smack down was pure manipulation. But sooner or later someone in the know (disgruntled employee?) will post the names (and addresses) of those responsible, and one of the more unstable ZH readers (certainly not me) will ... (you complete the sentence).
gold loses a months gains in three hours, typical.
We were warned!
"Why gold is set for its 7th week of gains" CNBC->contrarian indicator
http://www.cnbc.com/id/101832927
Most of the stories out today are pitching the BS that gold is falling due to lack of physical demand.I guess they've never heard of China.