Gold Plunges Back Below $1300 As "Someone" Dumps $2.3 Billion In Futures

Tyler Durden's picture


With The Fed proclaiming bubbles in some of the most-loved segments of the stock market and explaining that the economy is doing "ok" but they must remain dovish for longer for feasr of "false dawns"... what better time than now to dump $2.3 Billion notional in futures... of course the dump in gold's anti-status quo price coincided with an odd v-shaped recovery in stocks... Gold remains above its pre-June FOMC levels still.


The break was precipitated by the sale of over 17,000 contracts (or over $2.3 Billion notional)...


But for now gold remains above FOMC levels...

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 07/15/2014 - 11:02 | 4959024 tmosley
tmosley's picture

Hmmm, $1.5 billion.  Where have I heard that number before?

Tue, 07/15/2014 - 11:07 | 4959062 BaBaBouy
BaBaBouy's picture

It's Easy To DUMP $2.3B Paper Fiats, When YOU Are The Printer...

Tue, 07/15/2014 - 11:10 | 4959071 john39
john39's picture

is there anyone left out there who actually fails to see the rigging at this point?  paid liars are one thing...  but real people should all be able to see that the world is run by criminals by now.  from that standpoint, these PM hammerings have useful events...  shining a light on how the world is controlled from the shadows.

Tue, 07/15/2014 - 11:14 | 4959106 MillionDollarBonus_
MillionDollarBonus_'s picture

Another case of panic selling. This is one of the reasons financial advisors always recommend that you stay away from risky commodities, especially those without industrial utilizes like gold. Trading commodities is very difficult and takes years of experience and training to grasp. Personally, I'm happy to leave the commodities for professional traders at established firms such as JP Morgan, Goldman Sachs, Chevron and BP. Buy-and-hold equity investing is the only strategy that is proven to work over the long term. 

Tue, 07/15/2014 - 11:17 | 4959132 Greenskeeper_Carl
Greenskeeper_Carl's picture

Trying out for a slot on CNBC are we?

Tue, 07/15/2014 - 11:19 | 4959139 MeMadMax
MeMadMax's picture

Hey, that's cool dude...


Just means I can stack moar...

Tue, 07/15/2014 - 11:22 | 4959149 kliguy38
kliguy38's picture

they're givin' the peeps a gift.....but do ya think the peeps even know or will have a clue until its too the lines of peeps at the coin store when silver hits 70......heheheheheh they'll be out the door 

Tue, 07/15/2014 - 11:58 | 4959326 SMG
SMG's picture

That is if the coin dealers are still allowed to operate.  Fellow serfs I give you our government's Operation Chokepoint.




Tue, 07/15/2014 - 12:04 | 4959358 Manthong
Manthong's picture

Crooked banks with the Fed as a client.

Gee, I wonder why there are no margin hikes anymore.

The Hunt brothers did the same in reverse with silver except they did it legally and had the money good collateral and the physical to back everything up.

Of course, they were swindled out of their legitimate cornering of the market by the Crimex and the Fed.

Tue, 07/15/2014 - 12:09 | 4959376 SMG
SMG's picture

From the article:

"FDIC has labeled around 30 industries, including gun and ammunition dealers, as “high-risk.” Coin dealing, payday lending, and adult entertainment are also considered “high-risk.”

Coin dealing and guns thrown in with adult enterainment and payloans.  From an agency that does have enough to cover the the bank accounts it's supposed to cover.  The FDIC is high risk.

Tue, 07/15/2014 - 14:27 | 4959860 GTC
GTC's picture

Actually, the CME Group lowered margins last Friday. 

Tue, 07/15/2014 - 14:35 | 4959899 Manthong
Manthong's picture

No need for high margins when the client can print all the Benjamins in the world.

Tue, 07/15/2014 - 15:45 | 4960237 Motorhead
Motorhead's picture

That's just not possible.  Jim Sinclair and King World News said so.

Tue, 07/15/2014 - 19:05 | 4960849 Four chan
Four chan's picture

who has 2,300,000,000$ to plunk down on one trade like its nothing?


talk about manipulation.

Tue, 07/15/2014 - 12:11 | 4959379 SumTing Wong
SumTing Wong's picture

So glad we have this one unrigged market, because they might rig forex and LIBOR and even the SPY, but they sure as hell don't mess with gold. It's the one place to be.

And just when john39 mentiones paid liars, up comes MDB. Now what could that mean?

Tue, 07/15/2014 - 11:17 | 4959133 SuperRay
SuperRay's picture

Troll zombie moron

Tue, 07/15/2014 - 11:33 | 4959211 MsCreant
Tue, 07/15/2014 - 11:46 | 4959268 Overfed
Overfed's picture

That's some funny shit there. It's like a very dry version of The Onion.

Tue, 07/15/2014 - 11:19 | 4959138 camaro68ss
camaro68ss's picture

Got to get those shorts cleared before, to da moon

Tue, 07/15/2014 - 11:47 | 4959272 SuperRay
SuperRay's picture

Btw, drops like these mean nothing, other than to make phyzz cheaper. But a 50 cent drop is comical compared to the jumps we'll see next year

Tue, 07/15/2014 - 11:20 | 4959144 firstdivision
firstdivision's picture

"especially those without industrial utilizes like gold"

Are you mentally retarded, or are you just really good at acting like you are?

Tue, 07/15/2014 - 11:24 | 4959172 MillionDollarBonus_
MillionDollarBonus_'s picture

I don't have time to read random links from the internet. Gold is used to make Jewelry, and that's about it. Unfortunately jewelry demand has been falling like a rock in recent years.

Tue, 07/15/2014 - 11:29 | 4959196 DaddyO
DaddyO's picture

But you have time to troll down and try and refute his link?

Oh, and the computer you typed you trollish response has how much gold in it?


Tue, 07/15/2014 - 11:29 | 4959199 IridiumRebel
IridiumRebel's picture

I see your gold manipulation and raise you a new thick stacking opportunity. Go buy your lady a nice tennis bracelet. It's on sale.

Tue, 07/15/2014 - 11:44 | 4959261 SILVERGEDDON

Rerally - jewellry demand has been falling.

Oh, gosh, someone tell all of the folks in India and China that their buying has not been factored into your lofty pronouncements of market saavy.

That million dollar bonus is fucking light years away from your grasp at this point.

Even Jim Kramer is a better financial seer than you, Bonus Dawg.  

Tue, 07/15/2014 - 16:40 | 4960457 NoDecaf
NoDecaf's picture

Milliondollar...without people like you, there wouldn't be these wonderful discount prices, and I wouldn't be able to accumulate as much. Thank you brother!


Do you detail cars, or clean windows? I'll return the favor and offer you a job someday.


Tue, 07/15/2014 - 11:24 | 4959173 goldpercent
goldpercent's picture


I missed you

Tue, 07/15/2014 - 11:25 | 4959174 fiftybagger
fiftybagger's picture

Thumbs up for top grade trolling

Silver For The People

Tue, 07/15/2014 - 11:40 | 4959227 SILVERGEDDON


The only one better at sarcasm you believe in yourself - is Sarah Palin.  

You two would be great together - i know some people, so I'll see what I can do to get your sorry airbrushed ass on network TV with moose meat mom.

See you when 2000 becomes the new 17000 topper bull market in paper shite.  

Meelion Dollar Boner - the new market tell "hard" at work.

What's next for sheeple predictions as Rome burns  - paper to to 25000 ?


Tue, 07/15/2014 - 12:21 | 4959425 Duffy Duck
Duffy Duck's picture

mdb_ is either an idiot, a Goldman shill, or a master of satire....

Tue, 07/15/2014 - 14:18 | 4959830 douglas
douglas's picture

Anyone who´s been around here for awhile knows that it´s option # 3.  In fact I suspect MDB is a second knick of one of our most informed and respected bloggers.

Tue, 07/15/2014 - 12:44 | 4959494 disabledvet
disabledvet's picture

Gold is still money...and ALL commodities are getting slammed.

Oil is still hanging in there...BARELY in my view.

Tue, 07/15/2014 - 11:14 | 4959107 NotApplicable
NotApplicable's picture

Steve Liesman, obviously. Though he may be huffing paint by now in order to remain that stupid.

Tue, 07/15/2014 - 11:16 | 4959129 Dr. Richard Head
Dr. Richard Head's picture

Huffing Post has that exchange between Rick and LIES-allLIES-man!  They are saying Liesman was vindicated in that exchange.  Ugggggg......

Tue, 07/15/2014 - 12:07 | 4959362 spekulatn
spekulatn's picture

The HPost and Liesman are on the same team.  No surprise they come to the pudge's defense. Its laughable and cryable at the same time. 


Tue, 07/15/2014 - 11:19 | 4959142 BigJim
BigJim's picture

 is there anyone left out there who actually fails to see the rigging at this point?  paid liars are one thing...  but real people should all be able to see that the world is run by criminals by now.  from that standpoint, these PM hammerings have useful events...  shining a light on how the world is controlled from the shadows.

Well, Doug Casey says all this gold-rigging talk is nonsense.

Generally, I like Casey, but when I hear him do his whiney 'eeeooorrr, theeease Gooold manipulation meeeeemes, there just riDIculous', I want to throw something at the screen.

Why won't the fucker have a perusal of GATA's webiste? I guess he just doesn't want to know.

Tue, 07/15/2014 - 11:33 | 4959216 Jack Sheet
Jack Sheet's picture

Simple. Casey sells two metals mining stock newsletters in which the recommended companies have made big losses since 2011.If he were to represent that gold and silver are manipulated to the downside, even more subscribers would cancel.

Tue, 07/15/2014 - 12:12 | 4959386 Whalley World
Whalley World's picture

Casey should go back to Argentina and stay there.  I was a subsciber and took a beating with his gold juniors.  He has an agenda for saying there is no manipulation when the evidence is well, evident.

Tue, 07/15/2014 - 12:22 | 4959430 Fuh Querada
Fuh Querada's picture

The biggest joke was Jeff Clark, Editor of "Big Gold" saying that your total metals position including miners should not be more than 10% of investible assets!

Tue, 07/15/2014 - 13:02 | 4959576 Kirk2NCC1701
Kirk2NCC1701's picture

Ever heard of "Rewards dictate behaviors"?  Regardless of whether you have or haven't...

Anticipate and Plan accordingly, when it comes to salesmen of all types and ilk.

Tue, 07/15/2014 - 11:30 | 4959204 chubbar
chubbar's picture

Apparently Doug Casey doesn't feel this market is manipulated. How he comes to that conclusion after watching this price action is anyone's guess. I personally think he staked out this position back when it was not very apparent and now he has his balls in the way so he won't back down. I can even understand that perhaps some large bullion banks are doing this for the purposes of whipsawing investors in and out of positions. Either way, it's manipulation and if the CFTC doesn't act it is because it is a sanctioned activity which in fact makes it gov't manipulation.

Tue, 07/15/2014 - 11:50 | 4959284 dressguard
dressguard's picture

Yes, Keith Weiner of Monetary Metals. What a schmuck!

Tue, 07/15/2014 - 12:21 | 4959422 Fuh Querada
Fuh Querada's picture

T h a t is a prime wanker if ever there was one.

Tue, 07/15/2014 - 11:09 | 4959074 BigJim
BigJim's picture

Paging Mr Putin, Mr, Putin, gold sale now on at 33 Liberty St, New York, NY 10045, USA.

Tue, 07/15/2014 - 11:14 | 4959102 john39
john39's picture

I wonder, what is the current price real gold for someone trying to buy a significant amount...  doubt its published, but i suspect not the same price as on that chart...

Tue, 07/15/2014 - 11:14 | 4959110 SoilMyselfRotten
SoilMyselfRotten's picture

Yep John, Doug Casey apparently is one

Tue, 07/15/2014 - 11:16 | 4959124 Al Huxley
Al Huxley's picture

Ha ha, not the kind of gold Putin wants, only the paper stuff.

Tue, 07/15/2014 - 11:22 | 4959153 BigJim
BigJim's picture

But you can turn the paper into phyzz just by taking delivery!


Tue, 07/15/2014 - 11:30 | 4959197 meatworm
meatworm's picture

Indian gold sale - remember 500t?

Tue, 07/15/2014 - 16:14 | 4960358 bilbert
bilbert's picture

Don't forget the flood of scrap Gold!

Nadler used to go on about that ceaselessly............  When's the last time ANYBODY has heard mention of "Scrap Gold" after he flaked out?

Do NOT follow this link or you will be banned from the site!