Because Nothing Says "Best Execution" Like Dumping $1.5 Billion In Gold Futures At 0030ET

Tyler Durden's picture

For the 5th day in a row, "someone" has decided that 0030ET would be an appropriate time (assuming the 'seller' is an investor who prefers best execution rather than the standard non-economically-rational share-repurchaser in America) to be dumping large amounts of precious metals positions via the futures market. Tonight, with over 13,000 contracts being flushed through Gold - amounting to over $1.5 billion notional, gold prices tumbled $20 to $1151 (its lowest level since April 2010). Silver is well through $16 and back at Feb 2010 lows. The USDollar is also surging.

The timing of the dump is right as Japanese trading breaks for lunch

Gold dumped...


and silver too..


As The USD pushes higher.


*  *  *

One more random thing... the oddly spurious correlation between gold prices and Japanese bank VaR proxies is back again

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Harbanger's picture

Repubs win the midterm election, prepare for a market crash in 3.2.1....

Richard Chesler's picture

Because... there IS a difference between douche and turd???


Harbanger's picture

Not because of a difference, but because perception matters to the movie directors.

ACP's picture

Damn, I hope they push gold even lower. I've been waiting for quite a while.

Joe Trader's picture

Trade - don't worship any asset. JDST is having its day, eventually JNUG will as well. Bottom line is make sure your ass isn't handed to you - therefore: trade.

Four chan's picture

the markets are rigged

the markets are not rigged

Lore's picture

Do these people have a macroeconomic deathwish?  Why do they slam unbacked paper, knowing it brings physical buyers out of the woodwork and shortens the life of the ponzi? 

Squid-puppets a-go-go's picture

$1.5 BILLION dumped in such quick fashion as designed to collapse the bid stack, and it only drops $18


disabledvet's picture

Republicans: good for bonds bad for stocks.

Could be a wild one today.

SoberOne's picture

I too, have an early morning dumpfest. Looks like ill pick up a little today.

new game's picture

yea, sure keep on buyin on the way down, sure, real fucking smart...

cnmcdee's picture

The price of Gold Futures has <NOTHING> to do with Phys!!

If you don't think so goto your local bank ask for a Gold 'Certificate' then ask for Phys delivery.

You will *always* see them freak out and make up BS 'delivery charges' that are $400 / ounce more.

The Certficate market cannot represent physical because it has been deliberately diluted 100:1.

GetZeeGold's picture



I feel really bad for you and my peeps are going to end up owning all the gold.


Be sure to thank your grandkids for us.

GetZeeGold's picture



I see the Fed got relected....again.

disabledvet's picture

That would be the Federal Government, not the Fed.

They need a jobs recovery or theyre dead.  Exporting oil won't help that since we already have too many dollars.  This should be very good for natural gas and refiners though.

I still think Detroit on steroids is on tap here.  Rhode Island looks dead to me.

I think New Hampshire might be in trouble here too...

jbvtme's picture

I look at some gold broker's web sites and see freshly minted coins for sale but not much for older coins.  Is the gov't selling gold at a discount to match the paper market?

bwh1214's picture

God I hope this is what capitulation feels like.  I am nearly to the point of throwing in the towel, granted I just bought 100.3 ounces :)

wallstreetaposteriori's picture

So let me get this straight... Japanese bank value at risk falls with gold.  

tmosley's picture

Well, I'm glad I didn't follow through with my plan to buy on Monday.  I guess I'll wait until the midnight dumps stop then buy, IF there is any left anywhere.

CognacAndMencken's picture




It's not surprising to see that even *YOU* have stopped following your own advice. If you add up all the losses on your silver purchases over the last 3 years, you probably worked for an effective labor rate of less than minimum wage.   


LikeyMikey's picture

I go to the bank in Germany (where I live) and buy gold all the time.  They look at the MARKET price and sell to me with a small commission above market price WHICH (I might add) is based on all the paper this article talks about....


Plese explain what you are trying to explain sir.....   Right now the certificate market DOES determine the physical market whether a person believes there is manipulation or not.

GoldRealist's picture

Certificates have *nothing* to do actual gold, not even diluted 100:1. They are promissory notes from the issuer and nothing more.

Bendromeda Strain's picture

yea, sure keep on buyin on the way down, sure, blah blah blah

Your contempt only makes this morning's purchase that much sweeter, you statist piglet.

eclectic syncretist's picture

When you are allowed to counterfeit money by law as the Fed is, this is just a simple case of "easy come, easy go".  They probaly are banging in their basement right now, singing "give it away"

cnmcdee's picture

The Casino leaves the lights on until well after the last gambler has left..

oddjob's picture clean the barf of the floor.

Mr. Magoo's picture

They same way when they push gun control, moar people buy moar guns and ammo which will eventually shorten the lives of those who try to remain in control

Took Red Pill's picture

selling stuff that doesn't exist. When will someone go to jail?

Divine Wind's picture




But...but...b b b but Eric Sprott said $2000 gold by the end of this year.

It's right here in this free report.




Richard Chesler's picture

The movie is called "Banana Republic".

Perception is yours, not the directors'


Harbanger's picture

I know the truth, the central planners control our perception.  To the average sheep, they accept the perception of being exceptional, their reality is closer to a morally/fiscally bankrupt banana republic. 

So it's a given that the Directors who control the Fed and MSM create our perception and fake reality.  You know it, Dems are for the little folk, Repubs are for the rich folk.  Add to that what we already know, how markets are fully manipulated and they can cause a crash at will.  Who do you think the Fed and Globalists will look to blame?

new game's picture

you sure have alllllll the answers-hey you should run for prez...

Gavrikon's picture

It's turd sandwich and giant douche!

Sleepless Knight's picture

Life is a shit sandwich - the more bread you have the less shit you taste.

l1b3rty's picture

The Repubs? That'd be as bad as the Democ's. Billion dollar gold sale in illiquid hrs? Nothing new ...

sessinpo's picture

Illiquid hours? I guess you think the rest of the world lives in your time zone.

I remember when the markets weren't so fluid and a professional trader in the US could make a profit in spreads because markets in the East hadn't opened or were just opening. Now a days, its 24/7.

l1b3rty's picture

user has deleted comment. 

GetZeeGold's picture



It's don't have to fight if don't want's your trophy.


Have the secretary comp your parking on the way out.

Bloppy's picture

Manipulation of gold, silver, oil, etc, even fishier than S&P trickery these days.


No-namer without money or any real campaign almost beats Vermont's "popular" governor:

LostandFound's picture

China and Russia will stop this madness, once they know for sure that the West has no more gold left but at the minute they are buying all the way down for bullion banks willing to sell physical for printed paper.

BigMike's picture

Fuck!! Do you guys think Bo Polny will give me my $13,000 back???


Martin Armstrong right again.

Arius's picture

Armstrong has a model that can predict almost everything, what bo has? NADA

Space Animatoltipap's picture

Why is Armstrong not a trillionaire? Because he is a very shrewed, very aggressive writer with huge amounts of technical and historical data but still simply is wrong many times.

ParkAveFlasher's picture

He invented AI, how could he be wrong? /s

eclectic syncretist's picture

He doesn't control the money printing, and those who do are behaving ever more desperately.

Divine Wind's picture




Or perhaps Armstrong is phenominally wealthy, but learned to from previous USGOV

ass reamings to keep it off the books, to lay low and to stay off Forbes list.


He probably keeps it all in gold.

And fine art.

And real estate.

jarana's picture

Armstrong is the only man on earth processing dates in decimal format.

That will make his predictions still valid after the New World Order changes the name of the months.