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Gold Slides Near 4-Year-Low In Early Asia Trading
Same old, same old. Treasury yields are lower (futures prices higher); USDJPY (and thus S&P futures) are higher (though 110.00 is once again offering notable resistance); and gold is getting 'handled' lower. The divergence between stocks and bonds from Friday's jobs number is holding for now but it is gold that has been smacked to $1183 - near a four-year low: $1180.50 6/28/13, then back to Aug 2010). Silver is down 1% to March 2010 lows. Despite US equity exuberance, Asia-Pac stocks (ex-Japan) are down 0.3%.
Stocks and bonds remain divergent from Friday's jobs print
JPY started to break...
As a reminder, this is what happened last Friday into Sunday night's open...
Gold has been punched lower once again near 4-year lows...
But futures volume is negligible compared to the payrolls dump...
*SPOT SILVER DROPS 1% TO $16.6825/OZ, LOWEST SINCE MARCH 2010
And Bitcoin collapsed to as low as $275 overnight...
Charts: Bloomberg
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Nowhere to hide !!!!!
Right now, the world's most hated asset class, cash (dollars) doesn't seem like that bad a place to be.
I have a fuckload of cash. I have been white knuckling the hell out of it. Alas, the other big position is gold/silver.
That does seem to be the BITCH of the question to be answered.
Cash? or Silver?
Suffering from minor analysis paralysis on that one actually.
These are amazing times, BTFD was never so in your face. I have some cash and access to cheap credit. I may just play this one for what it's worth. I can pay back the loan at any time so why waste my cash.
"bitcoin" is an oxymoron...
Gold/Platinum ratio just crossed 1.00
Gold/Silver ratio at 71.14
Time to back up the truck...
[been saying for quite a while: Cash/Bonds/Gold,... looks like October 2007 is here again...]
i always think 'back the truck up' when the silver/gold ratio goes anywhere above 60. But then i stop to remember that a correction of that ratio doesnt always mean silver rises in price: it could instead be gold dropping without a corresponding slip in silver
a head fake to 1195. can it get back thru 1200. not sure the manipulators want that...
calling all during low vol periods, yeh the naked shorters, where is gold going? heY!, sittinging in the cold, naked, cold and wanting to know...
"bitcoin" is an oxymoron...
"You buy it, you buy it!"
Crazy Russian woman brandishing a squid on Simpsons.
Don't shoot the messenger. But it's game over for gold. The Yankee Dollar is king. Get on your knees and bow to your new master.
Troll or spam bot?
It is a megatroll spambot 2000 ver. 1.0.
Bitcoin, Gold, and Silver are all getting tanned by the hot UV rays of the Epson toner. Oh thank Janet for QE?
You should never compare bits to something real.
My advice though not popular, sell your bitcoins while you still can.
I think a part of the denouement is a final paper wash-out. Settle at a greatly reduced fiat constraint.
In the SLV and GLD prospectus.
Yeah, sitting on some of that. Kinda glad I am.
Slides in and out, in and out, in and out....(girls voice: It's only paper?!?!?!? WTF!!!!!!!!!!!!!!
Some people just suck at maff.
I always felt that the had price would collapse and the dollar would skyrocket like a supernova before it collapse but this dump in the price sure makes me nervous. Is this really the moment in time when the dollar dies?
No. You're way early.
Seems likely, doesn't it. Mad rush into dollars as everywhere else goes up in flames.
The dollar isn't particularly fantastic fundamentally, it just happens to be the place for capital to park at present. If you're on the deck of a sinking ship and all of the lifeboats have gaping holes in them save one, you'd dive into that last lifeboat too.
You dive in and find out that the bottom is rotten and it sinks and you die anyway.
No doubt.
By at least a couple years. Probably less than five, tho.
Illinois brother.
This is the time when Illinois dies.
Worst war in US history. "And here comes the bill."
Umm, the dollar is strengthening against the Euro. I don't think so.
weekly comex au vix is rising,
http://www.barchart.com/chart.php?sym=%24GVX&style=technical&template=&p...
"Gonna explode any day now!" - ZH posters every single day since 2008
Detroit has been wiped off the map.
Thank goodness we're taking out Syria.
punched in early
Perhaps you should differentiate between the paper gold-driven fractional reserve futures scheme which is backed by governments and the real world tiny supply of private sector REAL metal.
This institutionalized manipulation can only resolve itself in: closed-down miners, consistently higher physical premiums (especially outside "developed" governments' jurisdictions), 'force majeure' payouts in paper cash, constant backwardation and declining inventories of real, unencumbered metal in the futures playpens.
Will take time but it this manipulation is unsustainable.
Doesn't matter. All markets are manipulated and the gold market happens to be quite small and comparatively easier to control. Maybe you will all get lucky one day and the bankers will decide to raise the price of gold. The reality is that I can find and buy as much gold as I want. It is still quite plentiful at these "bargain" prices.
So let's say I accumulate bricks and they range from 25 cents to 75 cents each. Do I give a flying fuck how much each brick costs or am I simply accumulating bricks? I'm not trying to become a billionaire by buying and selling bricks. I simply want a well built house. Continue playing your paper games. Paper houses burn down.
I haven't sold 1 brick...
Many are fooled but you can't fool the trash man. We are a throw away society of consumers. I see your trash, I know your habits, WE ARE SLOWING AGAIN !!! Your trash tells me so.
Maybe the weather?
Buy Gold Bitchez....
Amen. He who laughs last laughs best. Come on gold Bears. Bring it. Let's see how it ends.
The nightmare on here is just beginning.
You mean BitCoin might drop below $275?
Is this the reason for BTC plunge?
Russian Ministry of Finance to introduce penalties for using bitcoins
The reason for the BTC plunge is a 15K BTC sell wall. Anyone who wants their sell order filled immediately has to get in front of the wall, and this pushes down the price. When he can't push it any lower he starts buying BTC to increase his position. Then the wall is removed and it shoots back up. It happened all the time, in both directions, back in the MtGox days.
Let's remember that it's a nightmare for about 99% of the rest of the world too. We're not the only ones feeling the pain.
Well, somethings gonna explode any day now. So many things are on high heat with the release valves locked.
well id be interested to know the derivative payouts triggered by the cratering Yen, for one
Is easy people. Use the games to your advantage. Sell the obvious bubble stocks (that have been inflated by option manipulation) like NFLX, TSLA, AMZN to raise PHYSICAL CASH AND GOLD. They will fail epically if we convert the trillions in scamopoly stocks to cash and gold, which will protect you from both tail risks ("deflation" and "inflation" -- when it is really about USD reserve and all fiat) with NO EXPIRATION. Don't buy any VIX etc because it just fuels their games. Use their bubbles to switch to real money.
i know, man. I keep looking at the silver inventory left in Shanghai (from 1200 tonnes down to 80 in a year) thinking surely some rich bastard is gonna throw his fellow oligarchs to the wolves and take delivery of the whole shebang
NY Fed is draining USD at Pentagon orders
That is my view
If so, Pentagon is being remarkably short sighted. The right decision would have been to take gold to the moon 2 years ago before China controlled the physical. Now, it can use its 4T in USD ForEx to cover paper future shorts. Playing games and trying to abuse control of the global reserve is just going to galvanize everyone else to dump it. Better to manage the transition, which can only be done by the Fed putting a bid under it to control the path of currency adjustment at this point.
There is $60 trillion created since early 70s when Nixon delinked, $4+ trillion of which created by QE
I foresee at least $10 trillion vanished, if not $20 trillion, to simply maintain the deal with the Saudis. It's win - win for both Saudis and Pentagon
Gold, silver will drop and rise but drop much, much, much slower than stocks and bonds.
Gold will actually rise in relative to dow and bonds
I can't believe it. That.... actually kind of makes sense.
Do you think the Saudis are as critical to this process now that we're fracking-and-cracking our own resources like there's no tomorrow (because there might not be)?
USA produced 7.5 million barrels per day of crude oil and it is getting close to 9 million per day.
It looks ok until.............................we see that USA consumes 18 million barrels per day of crude oil
No chance. Saudis are irreplaceable
As is Ghawar.
And that's the problem.
Everyone is replaceable. Nothing by man last forever.
Christ,
Someone is taking my ideas again. As if I haven't said that for over a year. And now we have all these jumping on the bitcon bandwagon saying as I have said. Bitcon is a joke.
Welcome aboard.
For the next show. When and if the market crashes, move your cash, if you have any to mining stocks. I can't wait till people start giving that advice as their own.
It's the gold:oil ratio that's more important becasue oil is the basis for all production.
Actually, it's not...
As you have been saying, MIC wants stronger dollar, banksters want to crash the dollar. The MIC and those guys breaking into the whitehouse and showing their asses might be related.
Its over, gold is finished!
It's been over before. But still hasn't finished.
I'll bite, baiter:
Tell China.
Tell Russia.
Tell India...
How many times have I heard that in the past 4000 years
I sure hope so. I'll take it as low as I can get it. :-)
Apparently I missed comedy hour?
If the price is dropping it's the time to be increasing your position. I would not recommend that for Bitcoin, or Litecoin. They are essentially a technological gambit.
Gold and silver? Yes. Absolutely.
Things King Tut would of said for 100000000000 Alex.
I don't think so. There are charts from the 70's the show this same breakdown through support before a massive rise.
A vengeful gold bug named Krakken
welds a bronze spike just perfect for whackin’
to a truncheon bright red
that’s meant for the head
of his banker who jeered: “How’s it stackin’?”
Banksters have been at war with gold in the US since the coinage act (probably before). Anything that provides any form of sovereignty to the little people is antithetic to their power. Why do you think gold and silver coins to this day are still the only thing states can use as a tender for payment of debt even though Art 1 section 10 of the Constitution was suspended illegally?
A depressed gold bug is drinking stout in a pub with St. Jude, and says: “Hey Jude, can you make it better?”
St. J smiles ironically, picks a certain Beatles song on the jukebox and orders another round, paying with fiat currency . . .
You bit for now.......
The pendulum will swing the other way and knock guys off their high horse.
"Pendulum will swing the other way and knock guys . . ." said Edgar Allen Poe.
Hmm... can't recall, was that 'The Pit and the Pendulum', or 'The Gold-Bug'?
"Happiness is a Warm Gun"
"Banksters" will always be at war with gold and silver. Fiat flows from the top down...allowing those at the top preferential pricing for real assets...such as present/future labor and fixed assets.
Gold and silver flow from the people upwards...forcing banks to actually provide a service for a small cut of what the people produce. People (i.e. many) bring the currency to the market.
Money is LIFE...that is, most trade portions of their life to get money. When money is stolen through inflation and fraud, the banksters are actually stealing life. Banksters use money to make money (in many ways)...they don't have to actually work for it. They use other people's lives to enrich their own...hence the vampire moniker.
When's the last time you saw a tick say, "You know, I should be more like the honey bee and stop being a parasite." It's in their nature.
In a perfect world, gold would drop to $35. However, any discount is greatly appreciated.
The nice man on the radio keeps telling me gold will be north of $2,000 by the end of this year. He sent me a gram of pure silver to show me how confident he was. Am I a sucker?
At a gold to oil ratio of 13:1 gold is a definite buy right now and should be held until it reaches a ratio of over 25:1.
https://www.youtube.com/watch?v=Lwnowt6p5O0
Don't use emotion to buy in to PMs. Use hard cold facts based on 150 years of data,
https://www.youtube.com/watch?v=0R7iXSqg7SA
Gold weekly - August 15
http://bullandbearmash.com/chart/spot-gold-weekly-barely-moves-waiting-m...
does counter emotion count? I mean I'm human...well maybe a burro.
thinking to buy more....somebody shoot me....please
Dollar cost averaging is a wonderful thing.
Completing wave 5 in the larger A wave down. A coiled spring for the B wave up. Mark it. Steve Hochberg told me so.
The cure for lower prices is lower prices. Bring it on.
"Just get the color."
-Mr. Hurst. HBO series Deadwood.
The silver/oil ratio is around 11.7 now for 63 ounces of silver. If it drops below 10 I will buy all I can get.
None of this shit's gonna matter until China expects it's "good delivery"...
And when they don't get it?... Expect more bad shit to happen like riot spreading from Hong Kong to other parts of the Mainland using the Uighers with machete(s) raised courtesy of George Soros & Friends!
How long can that bastard Soros live, someone must pull the plug.
Draining USD....... they still have to print a trillion each year to pay the bills.
And when countries dealing with each other in their native currencies for oil, gas, commodities...aka China and Russia, Iran.... well...how are global currencies comparing to each other? High and volatile USD now? How is that for future trade surpluses guys?
Thing is the US in order to hurt somebody else have to hurt themselves more.
But is this move a panic to restore strength of USD?
Can you imagine the fucking price of gold now with all the shit going on this year and now with the dumb arse currency games..... people ought to be shit scared.
What options do you have these days? Bond yields are shit. Stocks are overvalued. Real estate is topping. People are starting to go into PMs. Let the paper ponzi keep going. The lower the prices the higher the demand. The lower gold and silver goes the more difficult it will be to buy.
Even the MSM is chiming in about gold: http://www.telegraph.co.uk/finance/commodities/11104055/Super-rich-rush-...
US Mint had record sales recently: http://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&typ...
Shanghai silver inventory is plummeting: http://seekingalpha.com/article/2477575-silver-is-getting-scarce-in-shan...
Sooner rather than later it will be very difficult to get your hands on some physical. When you can't get some easily that will be when the paper price will not be the price setting mechanism anymore. These blatant shorts and attacks on PM prices are a sign the ponzi scheme is running out of juice. Until then sit back and relax with a nice scotch and watch the world burn.
Could you pass the popcorn please? Thanx.
waves can be fun, but don't forget to surface for air. hey more water than you can drink and piss. think i'll wait a tad.
we need the all telling puke ass dump and hate of all things golden...
"hate of all things golden..."
You're not talking about a certain kind of showers, are you?
I want to buy more gold....but the gold in AUD isn't going down anywhere near that in USD.
It only hurts if you have to sell it...
Gold will buy you shit when the world is burning. I require no other test of value.
As long as it tastes good, Who cares
Nothing as tasty as some Kruggerrands smothered in iPad sauce! :>D
Neither will the US dollar, but when the fire is over, gold will have kept its value.
Who the fuck buys shit except a farmer?
Imbecile, the Farmer's cattle produce the sh!t.
Pls. tell me, what I can buy with the greenback, when the world will be burning? I need it as a proof of value.
You can disinfect Gold to get Ebola virus off of it, dollar not so much. Credit card melt in oven. But Gold hurry
Strangely, I can't pick up silver for less than 22-23 bucks.
Dealers dont sell at a loss, its not fish they can shelve silver they bought at higher prices and claim they just cant get it.
Look harder: https://comparesilverprices.com/
https://comparegoldprices.com/
Gold is at shake-out-pricing now looking for immature buyers and by that I mean this is when counterfeit gold is most likely to change hands.
interesting point about Bitcoin....
Way below the price of production, soon there will be plenty of paper contracts but no physical gold or silver to be found then we will see what the paper wiseasses will have to say
The supply will probably come from the folks freaking out and dumping there gold. What happens when this bottoms and ignites a ferocious buying bull market by the hedge funds and big money that sold their equities in the last three months.
Remember all those Bitcoin peddlers (Forestar and the other Satoshi ball suckers) . I bet those fuckers cashed out to the sorry idiots that listened to them here.
Yawn*. Meh. Short term people like you will still be packing my groceries for the rest of your life. Don't worry. I give my old clothes to Salvation Army so you can still provide clothing for your kids. Loser.
He will never wash his hands after a dump again.
Digital mining == Money creation by central banks. But keep beliving that it is somehow different because there's "an algorithim" to it. Thanks for the cheap clothes, it lets me buy more physical assets while you play in your World of Warcraft mine.
Bitcoin is forming a limp penis pattern. I think it'll shoot up to 350 before dropping to 280 some time around... this year. I guess.
LoL. You said penis. hahahaha
Buy gold, Zerohedgies! The Yellen-Bernanke-Obama socialist islamic atheist axis is debasing the dollar and leading us to hyperinflation and economic collapse! I know because Peter Schiff said it's so! Buy now while stocks last!
Schiff may be the boy who cried wolf, but if you recall, the wolf eventually turned up.
Gold is for bitches. Real men invest in gallium. The shit's beautiful.
http://upload.wikimedia.org/wikipedia/commons/9/92/Gallium_crystals.jpg
Gold Slides Near 4-Year-Low In Early ASIA Trading
Asia demand lowers price, hmmm new kind of ecconomics.
yer that one had me scratching me head, too
Dow up 120 points in the middle of the night !!!! German factory orders -5.7% for August DAX up 90 !!!
MASSIVE intervention once again , Bankrupt Japan up HK up 500+
who cares what papergold is valued at?
Buy real estate, maybe. Gold? Nah.
Gold doesn't need a Gun pointed at your head to let you know it has value, unlike the FRN..
Relax guys, I couldn't stand silver being 18$ and bought some. It always goes down after I buy some. Maybe I'll buy more and you can get it under fifteen.
http://www.ritholtz.com/blog/2013/04/the-10-rules-of-goldbuggery/