Deja Vu - Someone Tell The Gold-Manipulating-Machines The Market's Shut

Tyler Durden's picture

Just 3 months ago, as Americans celebrated Memorial Day, the spot price of gold jerked $20 higher (then plunged) as gold futures closed. Today, as Americans celebrate Labor Day, the liquidity-less market for spot gold just dropped $6, ripped back and settled lower in the space of a few minutes (with bids and offers fully crossed for a few minutes) as someone clearly forgot to tell the machines that the market is closed...

Makes perfect sense...


as bids and offers crossed...


*  *  *

Unrigged markets for all... because nothing says "Sell Gold into an illiquid market" like NATO preparing to launch an offensive against Russia who 'everyone' now cliams is fully invading Ukraine...

*  *  *

Charts: Bloomberg

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
kowalli's picture

you should buy bonds

RiverRoad's picture

What happens when the central banksters take a collective dump into an illiquid market??

Pool Shark's picture



And, that's why you should always turn off your computer before leaving work for a 3-day weekend...



kliguy38's picture

I guess they feel patriotic and want to give a discount for physcial in honor of Labor Day

ILLILLILLI's picture

>> you should buy bonds


Bonds...James Bonds

vyeung's picture

They forgot to do the unplug! Suck a farking joke.

Soul Glow's picture

An algo went into the market, sold, and then a bullion bank issued a buy order.

There have been big moves this summer on the buy side.  Getting reADY TO KILL THE DOLLAR, BANKSTERS?

orez65's picture

"Go(L)d is dead"

Seriously, I try to understand the mentality of people like you.

Thousands of years of history have shown that Gold is not dead.

Gold is money.

Is it a gap in your education that prevents you from comprehending or ideology?

Good luck to you, you are going to need it.

School Prophet's picture

I think by GO(L)D he wanted to imply GOD.
Like in Nietzsche book - "God is dead"

fockewulf190's picture

No.  He ment GO(LONG)DOLLAR is dead.

ClassicCommodity's picture

Gold may not be dead, but it sure as hell is having a long ass nap / sleep.


The bastard may not awake within our puny human lifetimes.

Jungle Jim's picture

That is not dead which can eternal lie.
And with strange aeons even fiat may die. 

-- from The Benbernankricon

trader1's picture

i guess the meta-humor was lost on at least 25 people...

Rodders75's picture

Good luck to them on the fighting Russia bit. Signed: A Hitler, N Bonaparte.

ParkAveFlasher's picture

Yeah, but we have President Camacho, who is AWESOME.

Haole's picture

Idiocracy has gone from a satirical comedy to a documented reality in pretty short order...

ParkAveFlasher's picture

Idiocracy is a documentary in the same sense that Ayn Rand was a historical allegorist rather than a dystopian fiction writer.  You have to veil the truth in ten yards of fabric.  I've been reading the Oz books by Frank Baum.  They are beyond anything that I've read or heard about them.  At the same time, comprehensible to a child.

DeusHedge's picture

What, when people have been dumbed down below a munchkin bag boy and the financial analysts and political planners still continue with their brainwashing haji *** out of paranoia... yea.

DeusHedge's picture

ready for the invasion of the black eyed monsters from the muddy lagoon.

Bighorn_100b's picture

Get ready for the mother of all deflationary periods in history. IMO.

Bighorn_100b's picture

Debt loads are burdensome and the majority you Americans do not have enough savings to pay for a mere $1,000 emergency. People of the world have sold their freedom, their vote (if they had one) and their soul (again - if they had one) to a huge federal free-lunch monolithic monster. Because deflation de funds government tax receipts, the free lunch will sink. Your 401K and other pension plans along with stocks, most bonds, real estate, commodities and collectables will sink as more and more become unemployed. The multiplier effect causes the economy to sink as businesses see sales sink and quickly lay off workers. Next year sales sink again and they lay off more and so on and so on. The multiplier snowball effect becomes an unstoppable vicious cycle of sinking. Per Robert Prechter - Bullish - Only the U.S. Dollar - Short the rest! Get cash or short term government t-bills to be ultra safe this should be your deflation investments strategy for the Greater Depression.

Robert Prechter's monthly ELLIOT WAVE FINACIAL FORECAST said: "BOTTOM LINE - The world-wide credit crisis is returning to the front burner. In Europe, it is full throttle ahead and spreading. In the U.S., a top in a key index of leveraged loans indicates that all but the highest-grade instruments should start to retreat. Short-term U.S. treasury notes remain the safest place for investments. The uptrend in gold and silver appears exhausted. The next major move in each precious metal will be down. The U.S. Dollar Index is at the forefront of a significant rise, which, based on sentiment measures, should come as a surprise to just about everyone."

There are few deflation investments in a secular bear market cycle when waves of selling of securities, other assets and collectable items will take place. Remember: "Cash is King" in a deflationary depression.

Your best deflation investments are the ones returning your principle not necessarily having a return on that principle.

Deflation investments for safety are short term (90 day) credit instruments like T-bills or money market funds that only buy T-bills. Some 2 year or less CD's at solid banks - EWI has list.

cpnscarlet's picture

There was enough Elliot wave analysis during H2 2013 that showed PMs were supposed to start their "just have to be" (Bo P) march to 2000+ during all of 2014.

E-W, french curve, stochastic meters, Or Ouija Board - ALL BS in a market manipulated by central banks with LARGE printing presses and BLIND regulators. The only reason ANY tech analysis has been right since 2011 is because it was predicting the direction the oligarchs had already determined.

The previous post pretends to be prescient when it is only fatuous.

Haole's picture

Funny because guys like Bo P and Armstrong are among the few who are actually making "prescient" and somewhat accurate calls and taking the most flak as being charlatans on sites like Turd's and Silver Doctors, etc..  Armstrong was calling for sub-$1400 gold in 2011 and everyone was calling him a shill, disinfo agent and a wacko. 

Three years of these anti-koolaid koolaid dispensers bellowing for people to "keep stacking" and "BTFD" all the way down, they are the charlatans if anyone but ideology means more to some people than real capital destruction and loss of purchasing power apparently.  I hope you people never meet your heroes.   How much has Turk made in GoldMoney storage fees over the last 3 years on, what has been shorter term, radically depreciating assets in terms of gold and silver against other "assets". 

Now is the time to buy rocks if one is so inclined, not at any time during the last three years.  This could likely be TFD people have been waiting to take advantage of but where's the fervor and excitement?  I see a lot of dejection, confusion and disillusionment.  Human psychology is fascinating...

Seems much of the demography of all things precious are subject to their own crippling, percieved biases and aren't as open-minded as they claim and/or would like to be to be.  Ideology is a terrible financial strategy.

I'm shocked, what a surprise  /s.




ParkAveFlasher's picture

Before "BO P" or whatever, Jim Sinclair pimped some other guy's service, who had "made every market turn call" since the invention of ink. 

Haole's picture

I'm not blowing the guy's horn or claiming he's some kind of oracle.  Only that there have been some people making better calls than not and being completely shat on by others' failed perceptions manifested in ideology and obstinately self-reinforced belief structures.  Shorter term anyway, as in the last three years.

jaxville's picture

  "Cash is King" is from an era when cash could be exchanged for gold at a fixed rate.  "Only gold is money and nothing else."   You are deluding yourself to think that any paper you hold will maintain its value over time in such an environment. With current levels of debt,  deflation will wipe out many institutions that rely upon continued servicing of debt to hide their insolvency. 


  The following round of bailouts might very well be helicopters dropping $100 fed notes.  What will that do for the value of your cash?


  BTW  Prechter has been calling for gold to crash since it hit $400.  Sounds like he really gets it. (sarc)



Bighorn_100b's picture

I like my popcorn with Frank's red hot sauce sprinkled on top.

Don't know about you, but I am the poster child for doing everything the hard way. I read Zero Hedge because it follows my beliefs. Wrong or right I make my own decisions. Having said that, I don't have any children that I know of, so I have no child support or alimony to pay for. Lucky me!

What will happen to the price of gold or silver? I'm not in the 1% to know the answer. All I can do is my best.

jaxville's picture

  Bighorn_     .... If you are correct about that then gold will appreciate in value substantially.  Deflation in a credit based money system means most financials will become insolvent as debts are no longer serviced.  You can kiss your assets goodbye if they are held by any financial institution.  You will really wish you had bought those gold eagles and hid them somewhere away from any bank, broker or insurance company.


  That wad of cash you may have been precient enough to stash .... better buy something of value with it and fast because the financial authorities will make its devaluation their highest priority in order that debt can still be serviced.  Already the CFR is exploring ways for central banks to get cash directly into the hands of consumers without creating even more debt.


  Most people don't understand the relationship between gold and a defationary economy.  Consider the effect of liquidity drying up on the financial sector.  Not a single financial institution will be safe.  Gold prices might even go down in that environment but good luck finding some.

Bighorn_100b's picture

I'm holding 2014 Silver Eagles. Waiting to buy more at a lower price. Stocking up on ammo, the .308 and .45 type. Not cheap to say the least. 401K plan is all in short term Treasury's. Girlfriend is almost all in cash.
I don't know if holding physical at today's prices will help or hurt me. Time will tell.

I have Zero debt period. Condo paid off, check. No credit cards, check. Truck paid off, check. Cash and Silver in my gun safe, check. Invested in gold miners, check. Not much else to do except drink beer and watch the fireworks. Maybe shoot my pistol, rifle and shotgun for giggles.:)

jaxville's picture

  Sounds as though you have your bases covered.  I think that staying out of debt and reducing exposure to the financial sector are the most important things.  Too many are expecting inflation to make the excessive debt they carry magically disappear.


  I've pretty much loaded up on silver, a well stocked pantry, ammo and even a few cases of liquor for trade or distraction.  I hold some gold shares but most of my savings are in the form of gold specie.  It has worked quite well for the last fifteen years or so.  Most importantly, I never loose sleep over the modest amount of wealth I hold. 


  Finally.... I am a deflationist and I did enjoy Prechter's book but he just does not get the importance of being out of paper in such an environment.  Many of the examples we see of rising prices are more the result of shortages caused by political reasons (we used to refer to them as market factors)  rather than excessive piles of cash.  The central banks of the world are doing their best to inflate their respective currencies but the paper they create remains directly proportionate to levels of debt.  As long as levels of debt are well in excess of the cash they create, deflation remains a foregone conclusion.  At least until they call in the helicopters.

Rubbish's picture

You seriously need to buy a boat and go cruising. Nothing like a boating accident disposing of precious metals, spare ammo and weapons.


When the hydrants go dry because there is no power for the pumps and your block is a raging inferno, you will have comfort knowing there is a place to recoup.

jaxville's picture

  I can't afford a boat because I squandered all my money on gold.  Actually what little I had left over after the wine, women and song.

Imminent Collapse's picture

Grow food, stock up on toilet paper, get solar electricity, get a water purifier, get to know your neighbors. You are not prepared.

Bighorn_100b's picture

I work at Costco Wholesale so If the big earthquake hits California, I hope I'm on the job! :)

WhackoWarner's picture

Great ideas but if you have unreliable sun; which I do:  I have Power Inverters and battery banks fully charged.  Won't last forever but WTF.

I have looked into energy independence for years.  For the average scraping by family they are out of reach.  Generators are fuel dependent.

Solar panels are coming down in price but to set up a whole home still will run many thousands.  (my case study is maybe 15K)...wind power on a small scale is still expensive and unreliable.

But I do have oil lamps everywhere and lots of kerosene/lamp oil.  Let there be light at least.

TheRedScourge's picture

You can always increase your efficiency by supplementing the panels with some cheap mirrors on adjustable mounts, like a modern high density solar energy plant.

withglee's picture

On March 10th someone advised the way to play gold was invest in juniors. So for grins I set up a paper portfolio of 13 juniors.


7 down. Biggest loser TK down 47%

6 up. Biggest winner  TXG up 45%

Overall portfolio down 4.6%


Go figure!

WOAR's picture

Sounds like you should look into building a potato cannon.

You could have more fun with that than I could.

You might also want to read up on the Polish resistance, and maybe look up some Forgotten Weapons related to that...

Karlus's picture



One of the first things you program into program trading platforms (algo) is a holiday calendar.

Something else is going on here other than "forgot to unplug"

the6thBook's picture

Something you or I would add... not so much for people who think its a "Profit-Earnings Ratio"

Cognitive Dissonance's picture

There are no holidays for the machines.

orez65's picture

"There are no holidays for the machines."

It's not the machines, it's the "carbon units".

Garbage into the machine produces garbage out of the machine.

gimli's picture

HFT's get a bad rap ..... I personally know it was the one-armed man who did it.

thunderchief's picture

These people must really despise gold.
The Embarrassment of this would eat any honest person alive.

Johnny_is_already_taken's picture

They dispise gold because it would mean their DISTRUCTION

Gold is the only drop of freedmon mankind still has


There is no other asset you can buy that the gov can't tax, rob, destroy you away

sure sure, platinum, indium, aluminium etc ... but gold is the more liquid of them all




toros's picture

This is really funny stuff.  Machine vs machine and the humans just watch.  Everything in micro seconds, it has to be faked to give fill up a day.

Johnny_is_already_taken's picture

The manipulation is obvious ... but

... as long as I go to Vienna and I ask for a bag of gold philharmonik coins and they readily present them over the counter

there is no sign that its going to end soon.