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Gold Plunges Back Below $1300 As "Someone" Dumps $2.3 Billion In Futures
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...
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" 1.3 bil to bring it down 30 bucks yesterday, 2.5 Bil to bring it down 10 bucks to day. "
i'm actually concerned. i dare them to do better. it's still not cheap enough.
Yeah and so to get another effective price smash they'll have to do it in the early AM or some time with light trading.
Someone dumps?
Was it Belgium??
No, it was the most full of shit entity out there, only they can have a dump that big.
Sorry guys. I did this by buying yesterday.
No I did this by saying I was buying yesterday but I lied. I'm buying today though and that's the truth
Obviously no actual gold investor is selling in this fashion and shooting themselves in both feet.
Billions are the new millions. Chump change. The market has digested this order and opened its maw....."MOOOOAR...."
Time to buy
Yellen is just making sure that no Congressman or Senator can ask her about ineffective policies or inflation -- in relation to gold price.
More paper gold discovered!
They mine, errr, print it every day!
the ezcash for hard assets carry trade is unwinding. int rates go up, money gets tight[er] and assets prices drop. play the bottom if you can find it. tight money loose money its all fiat to me.
Felt compelled to log in. Just hold your powder and look for a hamner & candle stick on the daily. This is a gift and should be celebrated. My wife was asking me to buy more last week. I told her that we could buy more for less later on. Took some profit in the miners on friday and am looking to convert to physical when the time is right. In the end its a game of ounces/kilobars and your ability to put food on the table when it matters. Happy gold sale 2014 everyone.
Felt compelled to log in. Just hold your powder and look for a hamner & candle stick on the daily. This is a gift and should be celebrated. My wife was asking me to buy more last week. I told her that we could buy more for less later on. Took some profit in the miners on friday and am looking to convert to physical when the time is right. In the end its a game of ounces/kilobars and your ability to put food on the table when it matters. Happy gold sale 2014 everyone.
Trouble is if the price drops significantly, there's a Conga Line at the bullion and coin dealer shops where everyone who is still holding lucky fiat tickets wants to cash out for more precious than they could ever dream of before.
Nobody is selling the real stuff, not today and not when gold goes below $1000. Why would they? The down & out desperate folks had to cash in their stash over the course of the last 5 years.
This is a survival of the fittest economy. The last ones standing aren't going to cash in real assets for bogus paper.
Keep on dumping so I can keep buying.mine not for sale Ive bought high low in the middle is my peace of mind.gold price abveraging.who are these fools that buy paper gold its worthless in the ens. When will be the end? And what will happen when the paper is not backed with the physical? What a joke we have become to the wprld I bet????
The longs and shorts are nothing but a manipilation racket where the big players win and you lose unless you think long term and phyz.
Was that $2.3 billion by one player or did they manage to trigger a waterfall of stops? I bet they're just running the stops. Silver is only down 5 cents on the day. Keep stacking.
So lets' see, in 2 days someone sold over 200 tons of gold. Guess Germany is going to get its gold after all. AHAHAHAHAHAHAHAHAHAHAHAHAHAHA. Sorry! Maybe not.
Is there a study which examines how much gold is traded on paper vs physically exist?
Yeah, there was one but the author of it commited (cough) suicide recently with a nailgun. No news at 11:00...
Just to give you some perspective; last week, approximately 21% more silver was sold short on the Comex than was actually mined in those 5 days. The Comex open interest increase in gold was about 88% of all the gold mined those five days.
Who bought all that paper?
Belgium?
Nothing suspicious about the fantastic runnup last week or so in gold only to see it slammed down hard a week later. That is just a normal occurence and no need to investigate both sides of that move at all. Nope just continue on as if nothing smells rotten here.
It's truly disgusting the obscene amount of backdoor profits JPM is being allowed to make in a blatantly illegal scheme.
POSITION LIMITS PLEASE.
Yipeee another buying opportunity.
Someone traded $2.3 Billion of gold futures paper for $2.3 Billion of monopoly paper. But the weight of my stack has not changed and I can buy more real PM's for less of the monopoly paper. Win win!
If there were such demand, this wouldn't be a problem.
The world is awash in Gold. Someone must have had an extra $2.3 Billion in Gold stashed in their closet.
This recent upward blip gave them the incentive to finally get out.
If you believe that, then I've got one slightly used bridge in Brooklyn you can buy shares in. The toll revenue will be huge!
This is 'Whimpy' market, where apparently everyone is trading in "IOU A HAMBURGER TOMORROW" certificates.
At some point you have to wonder who is the fool.
WHERE'S THE BEEF?!?!?!?!?
Gold is pulled out of geological gold deposits, where the forces of nature have placed it over eons.
Paper gold is pulled out of paper mines? Where the forces of ...of... well of someone... have placed it over....over... just how long does it take to create peper gold?
What?
You mean everyone with a crayon and piece of old newspaper can write a paper Gold contract?
What's the chance that all of those guys actually have - or will have - some gold to sell??
Thought so.
Yellin why ya bullshitt'n?
Any one who thinks Yellen is anymore than a trained monkey is living in an alterantive universe. Yellen is paid $250,000.00 a year as The Fed "Chairperson". Yea someone getting paid $250K a year actually has control over TRILLIONS of $$$. Right. Talking head and she is doing what she is told to do. Other than that she is an empty suit.
Giving it one more week before loading up the final boat, pre-(something bad).
Looks like Blow Pony was right.
On the margin, what do you think people believe will have the same or more value tomorrow than today?
Dollars or Gold?
I rest my case.
gcjohns1971, that depends on how many tomorrows we are talking about. If you mean several hundred tomorrows, or even thousands of tomorrows, no doubt gold will be worth more, then. But meanwhile, in the next few days, weeks, or months ... ??
Tomorrow, and tomorrow, and tomorrow, Creeps in this petty pace from day to day To the last syllable of recorded time, And all our yesterdays have lighted fools The way to dusty death. -- Macbeth, Act 5, Scene 5Another mini pump and par dump and then TO THE MOON! Hate to give horses credit but...beep, beep, beeep
WTF??
95 TONS of Gold thrown on the market in 48 hours??
I thought they had dark pools for realizing maximum seller profits when executing XXXL trades like that!
I'm thinking Germany may be seriously pissed!
They only got SIX tons of their own Gold back in an entire year!!
Disconnect?? Nope, not at all - move along now.............