Gold Jumps Above $1320 As Bunds, Treasuries Hit New Cycle Low Yields

Tyler Durden's picture

With the USDollar giving up all the week's gains this morning on the heels of EUR strength (repatriation), weak claims data coupled with import prices sparked a leg higher in gold and leg lower in the yields of bonds on either side of the Atlantic. Gold poked its head above $1320 briefly, having been smacked lower twice overnight. 10Y US Treasury yield is now 2.39%.German 2Y yields traded at -1bp, there lowest in 15 months as 10Y Bunds dropped below 1% for the first time ever. Equity futures are fading back into the red.


Gold jumped on US claims and import price data...


as The Dollar tumbled...


Treasury yields hit new cycle lows...


With equities giving up overnight gains...


The early jerk higher gains were driven by yet another hope for de-escalation...


Charts: Bloomberg

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Eyeroller's picture

Will gold get bitch-slapped today?

JailBank's picture

Probably. These guys have nothing else to do than dump $1 billion in futures on gold that does not exist anywhere in the world on to the open market.

GetZeeGold's picture



Annnnnnd it's gone


We call that lightning freakin speed.......codenamed......protect the enchilada.

MalteseFalcon's picture

New title for article:  "Gold jumps around in it's trading range"

silverer's picture

They'll get by with this for awhile until the BRICS countries ask for contract delivery in REAL gold instead of paper cash.  Gee, how embarassing will that be?

TeamDepends's picture

Speaking of gone, we have a new spot price fix for silver, the LSP. Tyler, you should post a thread because we read that they can't/won't be held responsible for their prices!

Rubbish's picture

Monopoly money can do as it wishes and does daily. Fighting it is a lesson in futility.


Stack and forget about it.

SilverIsMoney's picture

Already back to $1314....

Manipulation at its finest... smash before claims to contain the spike and then smash again after the spike now back where we started.

Kaiser Sousa's picture

keen observation...the usual bullshit meant to discourage continued dumping of debt coupon dollars for real money...
btw: had ur name sakes monogramed on my Titlelist ProV1's on the way...
cheers and keep stackin...

Volaille de Bresse's picture

And Donetsk is being pummeled with bombs...

Long live the UE/NATO fascism!

Headbanger's picture

Here comes that Russian "humanitarian aid", like it or not!

And don't fuck with it Barry!

buzzsaw99's picture

welcome to the party pal

Squid Viscous's picture

the pig men are getting alot of mileage out of this de-escalation, aren't they?

IronShield's picture

Try as they might, there is only one PM that will carry you through the coming crisis and that is gold.  Get you some!  Much better to be a year early than a minute late.  And the clock is ticking rather loudly at the moment...

foxenburg's picture

@iron. in my case 3 years early. and getting earlier.

samcontrol's picture

so having other PMs is bad?

Fuck you ruined my afternoon of skiing.

nobodysfool's picture

German 10yr Bund hit's All-Time Low below 1.00%...then U.S. 10yr at 2.40 doesn't make a lot of sense. US rates going ready to REFI into a 3% 30yr Mtg! Woohoo! Guess the world has arrived at the hand basket.  Bravo, well done.

LawsofPhysics's picture

yes, unfortunately, people will be refinancing so that they can afford to buy some bread.

Kaiser Sousa's picture

does this chart look the least bit suspicious (fraudulent)?????? the same pattern day after day???

El Hosel's picture


                                                                            Not so much.  The machine are "owning" what used to be all the markets.. We don't have any fucking markets.

madbraz's picture

treasuries hit cycle lows quite a few days ago, in overnight trading.  it just happens that one such kevin henry exists (to the seeming delight of a few primary dealers who are short treasuries) and pushed his buttons between 5-8AM so that cash markets and CNBC, reuters, bloomberg et al presstitutes didn't have to report and drag "markets" lower, if there is such a thing in this corrupt world.

vulcanraven's picture

Bund..... James Bund.

Kaiser Sousa's picture

Aug 13 (Reuters) - A federal judicial panel on Wednesday ordered that 18 lawsuits alleging a conspiracy to manipulate gold prices be consolidated into one proceeding in New York. The cases will be sent to U.S. District Judge Valerie Caproni in Manhattan, who has already been overseeing more than two dozen cases.

The lawsuits name the multinational banks that make up the London Gold Market Fixing Ltd, the company operating the global gold price benchmark known as the 'fix'. The century-old gold fix is a standard price for the metal that the banks set twice a day over the telephone. A variety of gold traders claim they were harmed by a scheme to manipulate the fix.

Sending the cases to Caproni of New York appeared to be a relatively easy decision for the U.S. Judicial Panel on Multidistrict Litigation, which considers requests to consolidate related lawsuits in U.S. federal courts.

Only one of the 18 lawsuits was not filed in New York, according to the panel. Bank of Nova Scotia, HSBC, Societe Generale and Barclays make up the London Gold Market Fixing Ltd."

Kaiser Sousa's picture

read it...

"The silver-pricing method begun during the reign of Queen Victoria ends today in London as the $5 trillion market shifts to a more transparent process and regulators expand scrutiny of how commodity benchmarks are set.

An electronic, auction-based mechanism will replace a ritualized negotiation among a few traders that’s been in place for 117 years. Silver becomes the first of the precious-metals markets to ditch a daily “fixing” procedure where dealers agree to a price over the telephone. Revamps also are planned this year for fixings in gold, platinum and palladium."

walküre's picture

An article mentioning gold and bunds in the same context has my attention ESPECIALLY since just today the frontpage of declares that the gold rush is over.

Handelsblatt claims the Asian buying interest has supposedly gone down 50%.

Nevermind the stats they claim they have which are just as bogus as all the other stats. The miners don't seem to have a problem getting rid of the metal. Miners shares have been on a steady incline for a while now.

Gold is being talked down and Handelsblatt is obviously trying to discourage German gold holders and potential gold buyers from increasing their positions, maybe even encouraging them to give up some of their stash.

They shouldn't have said anything. This is bullish for gold imo as all gold related information from the financial press is using reverse psychology.