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Gold & Silver Suddenly Shellacked

Tyler Durden's picture




 

Because nothing says sell precious metals in huge size like another central bank printing a trillion dollars...

 

BIS is in da house!!

 

No apparent catalyst is clear though we note Treasury yields also started to tumble and EURCHF jumped 60 pips at the same time...

 

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Fri, 01/23/2015 - 11:18 | 5696596 bigdumbnugly
bigdumbnugly's picture

ssdd

Fri, 01/23/2015 - 11:23 | 5696621 NoDebt
NoDebt's picture

It's OK.  We're all used to it by now.

Fri, 01/23/2015 - 11:24 | 5696629 Stackers
Stackers's picture

Shocker .......

Fri, 01/23/2015 - 11:26 | 5696646 outamyeffinway
outamyeffinway's picture

Here we go again one more time once more.

Fri, 01/23/2015 - 11:29 | 5696662 Haus-Targaryen
Haus-Targaryen's picture

Good more for me. 

Fri, 01/23/2015 - 11:41 | 5696711 kliguy38
kliguy38's picture

Who gives a shit...... Its paper COMEX bullshit.......relax and enjoy the ride. BTW Dennis Gartman must have gone long in Gold yesterday

Fri, 01/23/2015 - 11:45 | 5696737 BigJim
BigJim's picture

C'mon Vlad! Crash the CRIMEX, or your fans here might start wondering if you really are their knight in shining armour.

Fri, 01/23/2015 - 12:15 | 5696895 Pool Shark
Pool Shark's picture

 

 

C'mon guys!

Just BTFD!!!

 

Fri, 01/23/2015 - 12:18 | 5696904 Pinto Currency
Fri, 01/23/2015 - 12:25 | 5696922 lordylord
lordylord's picture

Since when is $0.20 for silver and $10 for gold a shallacking?  Why is this trash posted on ZH? WTF Tyler?  And whats with those bullshit zoomed in graphs? 

FUCK.  It's bad enough that governments try to manipulate us.  Et tu Tyler?

Fri, 01/23/2015 - 13:19 | 5696975 Pinto Currency
Pinto Currency's picture

 

 

ZH comments fit the fact that gold and silver have been flying in all currencies including the USD and the drill-down today in 4 minutes, small in % terms, does not fit with the context of the growing crisis.  Except that the paper gold and paper silver sell-down is to be expected.

Fri, 01/23/2015 - 13:20 | 5697171 AllThatGlitters
AllThatGlitters's picture

I wouldn't call this move a "shellacking."  

But it is good enough to keep the plebes from jumping on board this train, which has just started to leave the station.

Anything can look like it is breaking out, or getting shellacked, when looking at a 1-Minute chart.

See a 1-Minute Silver Chart Here: http://www.pmbull.com/silver-price/

See a 1-Minute Gold Chart here: http://www.pmbull.com/gold-price/

Then change them to daily or weekly charts.

Silver has since recovered more than half and is only down $0.08 from yesterday's NY close as I started typing this.

 

Fri, 01/23/2015 - 13:48 | 5697305 Four chan
Four chan's picture

if you own the real thing,

paper manipulations should not even register with you.

like if you own a rolex, the price of forgeries are of no concern.

Fri, 01/23/2015 - 12:51 | 5697058 RockyRacoon
RockyRacoon's picture

It's one of those imperceptible blips at the far right end of the graphs here:

http://finviz.com/futures_charts.ashx?t=GC&p=h1

http://finviz.com/futures_charts.ashx?t=SI&p=h1

Fri, 01/23/2015 - 12:59 | 5697101 vexrizor
vexrizor's picture

Because zerohedge has to exaggerate, induce fear, and cherry pick anything they can and make it sound oh-so-horrible. The move in the metals was small but they have to blow it out of proporation, it's their MO. Meanwhile, they sit back and bring in massive ad revenue from it's gullible fear based user group and laugh all the way to the bank.  A bank I'm sure they have criticized over and over.

Fri, 01/23/2015 - 14:44 | 5697504 Tall Tom
Tall Tom's picture

And you have come to this conclusion that ZH's MO is to induce unwarranted fear so that they may profit on Ad Revenue?

 

I believe that you have confused the MSM with this site.

 

Perhaps you need to go back to Drudge...or HuffPo.

 

Stay asleep. You not need read this "so called" disturbing news.

 

Personally I CELEBRATE declines in the price of Gold. It is GREAT NEWS for me., In that way I can afford to purchase more of it for the same amount of fiat..

 

But somehow YOU read that as bad news...There was no "Value Judgement" in the article. The editors did not say it was bad or good.

 

I am not like stupid investors who rides a train when the price is high and then panic and sell it low.

 

That may be more like YOUR OWN PERSONAL MO.

Fri, 01/23/2015 - 14:50 | 5697511 SILVERGEDDON
SILVERGEDDON's picture

Vexrizor - 

 FUCK RIGHT OFF, YOU RAMA LAMA DING DONG ZIPPER HEAD COCK SUCKING SHIT SLURPING TROLL MOTHERFUCKER. 

We have MSM for exaggeration, inducing fear, and cherry picking.

Obviously you have never heard of them.

Go back to your B of A adding machine minimum wage slave job. .  

Fri, 01/23/2015 - 23:47 | 5699005 e_goldstein
e_goldstein's picture

Excellent rant. Concise and condescending at the same time.

(golf clap)

Fri, 01/23/2015 - 13:39 | 5697276 BigJim
BigJim's picture

 Because the LBMA is coming unhinged:

http://seekingalpha.com/article/2829046-the-lbmas-silver-criticality-video

Do you have any idea how many years we've been hearing from 'experts' that silver is about to go critical?

Maybe it'll happen one day. If they can't work out a way to produce graphene more cheaply, and demand finally outstrips supply, or if supply starts dropping off, or some new process demands more of it.

As it stands, with oil prices down, I expect production costs of silver (as well as gold) to drop.

Does this mean prices will drop too? Who fucking knows. But quit with the imminent predictions. This market is completely rigged and ruled by paper and when it'll finally get real nobody knows, and anyone claiming to know is a fucking charlatan.

Fri, 01/23/2015 - 11:42 | 5696714 Headbanger
Headbanger's picture

Oh c'mon..  You conspiracy theoristards can do better than this!

Let's see..  It's a big European CB selling a shit load of gold cause Greece is about to go tits up which will cause worse chaos than they'll admit.

Fri, 01/23/2015 - 11:49 | 5696760 Ghordius
Ghordius's picture

ehmm... "big european CB" is a bit... misleading. the BIS is the bank of the central banks. Yes, it operates in Basle, Switzerland, which is in Europe, geographically

but it could be on behalf of any of it's 60 clients. now, how many of it's clients have an aversion to high gold prices? anywhere?

Fri, 01/23/2015 - 12:04 | 5696829 Headbanger
Headbanger's picture

I was fucking joking making up shit you mook!

Duh.

Oh but seriously,  It's they finally started turning lead into gold at the CERN accelerator which is what it was really built to do!

Fri, 01/23/2015 - 12:11 | 5696870 knukles
knukles's picture

Only problem is the gold is radioactive.... so if y'all take delivery, be sure to "count" it in oh so many ways

Fri, 01/23/2015 - 12:15 | 5696885 Ghordius
Ghordius's picture

Headbanger, you are the mook, here. you should know that any and every ZH article that has "gold" in it's header attracts a part of the readership that asks for explanations without covert or complicated jokes. some of us don't have the sheer time needed to go into the complexities of the financial world. so I repeat: the BIS is a bank that makes covert moves on behalf of any client central bank that needs covert moves. And the currencies that Tyler showed moving bear a "fingerprint" that could be seen as evidence of a move by the BIS

Fri, 01/23/2015 - 12:45 | 5697034 cnmcdee
cnmcdee's picture

How thoughtful of them to lower the price for Putin so he can stockpile more of it...

I think in the coming sequel we get a war..

Fri, 01/23/2015 - 15:05 | 5697553 Tall Tom
Tall Tom's picture

It is just tradition tha Western Central Banks own any of it in the first place. Ben Bernanke testified to that, under oath, in front of the US Congress. Surely they'd prosecute him for PERJURY if he lied in his testimony, wouldn't they?

 

Who cares if the rest of the World values it. It is not like we will ever need any of it for trade. The UNited States and the West are exceptional after all. The rest of the World needs to figure out that they owe us their goods and services in exchanges to promise to pay at some later date. It is not like we have ever DEFAULTED.

 

Wait...What do you mean that on August 15,1971 our President Richard M. Nixon told the World to fuck off and they could not have anymore of our Gold?

 

Why would we do that if we do not value it?

 

We value it? You mean that we are lying? The Government never lies..

 

Wait. They do lie?

 

Uh oh....er...never mind.

Fri, 01/23/2015 - 14:59 | 5697545 Johnny Fiat and...
Johnny Fiat and The Contangos's picture

Keep shellacking it, you're stretching my fiat further and giving my stack a rise.  

Life is good

Fri, 01/23/2015 - 11:25 | 5696648 Truther
Truther's picture

BTFD Bitchezzzz

Fri, 01/23/2015 - 11:24 | 5696624 TeamDepends
TeamDepends's picture

We said earlier that the Swiss last week "sank the PM manipulation boat".  What we meant was not that they could not smack "prices" down, but that they can no longer keep them down.  We shall see.  Interesting times!

Fri, 01/23/2015 - 11:27 | 5696661 Truther
Truther's picture

Can't wait for the day when I can slap a motherfucking central banker with a shiny bullion right in the face and tell him... Take that bitch.

Fri, 01/23/2015 - 11:43 | 5696709 e_goldstein
e_goldstein's picture

Swing a 10 oz silver bar in a sport sock to leave a lasting impression.

 

Fri, 01/23/2015 - 12:00 | 5696809 Buckaroo Banzai
Buckaroo Banzai's picture

$50 in silver dimes in that sock will make a more satisfying impact.

Fri, 01/23/2015 - 12:11 | 5696843 e_goldstein
e_goldstein's picture

True, but it's harder to hear the crunching sounds over the clinking.

Fri, 01/23/2015 - 12:27 | 5696921 Pool Shark
Pool Shark's picture

 

 

Challenge to a Duel:

My weapon: $500 worth of silver ingots in a sock

Bankster's weapon: $500 worth of FRN's in a sock.

 

Any takers?...

 

 

Fri, 01/23/2015 - 12:25 | 5696952 Time for Titus
Time for Titus's picture

The way I read it, that's only about 40 dimes.

Fri, 01/23/2015 - 12:28 | 5696966 clade7
clade7's picture

is that what they call 'collidal' silver..?.

as in, 'my sock full of dimes just collided with your face'!

Fri, 01/23/2015 - 16:29 | 5697819 SickDollar
SickDollar's picture

+100

no doubt some knowledge behind this well thought and very intelligent line VERY CREATIVE

 

Fri, 01/23/2015 - 11:43 | 5696726 DirkDiggler11
DirkDiggler11's picture

Maybe instead of brass knuckles, a mint will start to produce silver knuckles.

Protection against a fiat collapse, and personal protection all in one !

Fri, 01/23/2015 - 12:03 | 5696835 MsCreant
MsCreant's picture

I understand they have devices that launch lead if you would prefer that. Makes one hell of an impression.

Fri, 01/23/2015 - 12:37 | 5696980 rwe2late
rwe2late's picture

 I have heard one may dispatch vampires with silver bullets

(or was that only werewolves?).

Fri, 01/23/2015 - 13:01 | 5697100 agstacks
agstacks's picture

Uncle Red: I mean, uh, what the heck you gonna shoot a .44 bullet at anyway... made out of silver?

Mac: How about a werewolf?

Fri, 01/23/2015 - 11:24 | 5696626 Silky Johnson
Silky Johnson's picture

Keep pushing down you motherfuckers. More resistance will make the pop all the more enjoyable.

Fri, 01/23/2015 - 11:32 | 5696674 TeamDepends
TeamDepends's picture

Amen, Silk.  Is this a last gasp smackdown before the Greeks vote to fracture the Euro?  Regardless, we will sleep like baby angels this weekend, especially if silver holds on to $18.

Fri, 01/23/2015 - 11:37 | 5696701 disabledvet
disabledvet's picture

From a high of fifty!

Fri, 01/23/2015 - 13:00 | 5697104 Bunghole
Bunghole's picture

Not all of us were stupid enough to BTFATH.

Fri, 01/23/2015 - 11:19 | 5696597 SickDollar
SickDollar's picture

I think we all knew this was coming

Fri, 01/23/2015 - 11:21 | 5696618 Truther
Truther's picture

Never lose faith in your shiny stacks. Never.

Fri, 01/23/2015 - 11:37 | 5696697 tarsubil
tarsubil's picture

You don't need to believe or have faith in stacks. They are there no matter what you think about them, no matter what any human being thinks about them. The value of the dollar, that's different.

Fri, 01/23/2015 - 11:24 | 5696641 Urban Redneck
Urban Redneck's picture

Particularly if Kevin Henry (or his boss) got Armstrong's note yesterday on a close above 1305.

Fri, 01/23/2015 - 11:18 | 5696600 Counterpunch
Counterpunch's picture

Ever have the feeling you've been cheated?

Fri, 01/23/2015 - 11:22 | 5696630 Truther
Truther's picture

Always... The boomerang will be a bitch though.

Fri, 01/23/2015 - 11:29 | 5696666 MuleRider
MuleRider's picture

Yes.  Every single weekday between 9:30am ET and 4:00pm ET. 

Fri, 01/23/2015 - 11:21 | 5696604 medium giraffe
medium giraffe's picture

Price discovery.

Fri, 01/23/2015 - 11:30 | 5696667 Serfs Up
Serfs Up's picture

By """investors"""

Fri, 01/23/2015 - 11:34 | 5696681 medium giraffe
medium giraffe's picture

Participating in 'efficient free markets'.

Fri, 01/23/2015 - 12:11 | 5696879 MsCreant
MsCreant's picture

That allow "failure" to clear out malinvestment.

Fri, 01/23/2015 - 16:39 | 5697860 SickDollar
SickDollar's picture

and  yet central banks creates more policies to further mask. manipulate, hide the fact that it has FAILED MISERABLY

 

Fri, 01/23/2015 - 11:20 | 5696611 FreeShitter
FreeShitter's picture

Doesnt surprise anyone Keep stacking.

Fri, 01/23/2015 - 11:21 | 5696613 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

It's not over yet, but it's getting closer

Fri, 01/23/2015 - 11:23 | 5696615 agent default
agent default's picture

A bit too blatant for comfort even by BIS standards.  The message is getting too obvious by now, buy gold and fuck them

Fri, 01/23/2015 - 11:24 | 5696625 monopoly
monopoly's picture

Does not even phase me anymore. To be expected. They will never learn. Agree, keep stacking.

Fri, 01/23/2015 - 11:24 | 5696627 HardlyZero
HardlyZero's picture

"why do you persist Mr Anderson ?"

Another Fiat / Gold smackdown.

Fri, 01/23/2015 - 11:24 | 5696631 DirkDiggler11
DirkDiggler11's picture

I would not be surprised to see PM prices rise significantly into the afternoon...

Fri, 01/23/2015 - 11:24 | 5696638 agstacks
agstacks's picture

Can wait to see gold and silver "de-pegged".

Fri, 01/23/2015 - 11:26 | 5696642 AndyM
AndyM's picture

BTFD in true Zerohedge tradition!

Fri, 01/23/2015 - 11:26 | 5696644 AC_Doctor
AC_Doctor's picture

Hahahahaha!  Greeting from the CB's and Davos!  That's all the little bitchez have left?  "The little faggots got their own jet airplanes, the little faggots are all milliionaires!"

 

 

Fri, 01/23/2015 - 12:16 | 5696892 MsCreant
MsCreant's picture

 "The little faggots got their own jet airplanes, the little faggots are all billiionaires!"

Inflation, since the song came out.

Fri, 01/23/2015 - 12:54 | 5697081 RockyRacoon
RockyRacoon's picture

Yeah!  Remember when $64,000 was real money?  Today they have to give away millions to make an impression.

Fri, 01/23/2015 - 11:24 | 5696645 SDRII
SDRII's picture

Intraday swap lines are open. Do they publish them by tick?

Fri, 01/23/2015 - 11:25 | 5696650 yogibear
yogibear's picture

All that paper gold makes it easy for the central banks to manipulate.

Fri, 01/23/2015 - 11:37 | 5696703 Eternal Complainer
Eternal Complainer's picture

PM options - ex next week

Fri, 01/23/2015 - 11:26 | 5696651 Seasmoke
Seasmoke's picture

Isn't Groundhog Day in February ???

Fri, 01/23/2015 - 11:26 | 5696653 Bill of Rights
Bill of Rights's picture
Tomahawk Resources files for bankruptcy in Midland

 

http://www.bizjournals.com/sanantonio/news/2015/01/22/tomahawk-resources-files-for-bankruptcy-in-midland.html

 

Tomahawk Resources LLC, a company that provides logistics for oil and natural gas fields inside the Eagle Ford Shale and the Permian Basin, has filed for bankruptcy in the U.S. Bankruptcy Court for the Western District of Texas late Wednesday afternoon.

No court date has been set, but the Andrews, Texas-based company has filed for Chapter 11 bankruptcy in order to reorganize.

A statement filed by Tomahawk Resources President Jerome Richter listed at least 14 creditors with two of them listed as energy companies.

Fri, 01/23/2015 - 11:26 | 5696654 agstacks
agstacks's picture

"I don't always sell gold, but when I do, it's all at once with a Market order."

Fri, 01/23/2015 - 11:29 | 5696655 Q-Q-Q
Q-Q-Q's picture

Paper price goes down, physical supply goes down...............I'm sure it's going end well :-0

Economics for today, not the future, that's where we're at.

Fri, 01/23/2015 - 11:26 | 5696657 LawsofPhysics
LawsofPhysics's picture

Interesting, the ECB smacking paper gold so soon?

 

Look, bankers and financiers are useless paper pushers who are supposed to facilitate real fucking investment.

6+ reals of "loaning" this fucks trillions at ZERO interest and NONE of the money has gone to the main street engineers and real capital creation.  All the money has simply made the bankers, financiers, and their political puppets wealthier.

fuck em.

Fri, 01/23/2015 - 11:40 | 5696712 Eternal Complainer
Eternal Complainer's picture

Exactly, and we the slaves get stuck with the $45 hotdog bill

Fri, 01/23/2015 - 11:48 | 5696744 froze25
froze25's picture

The policy is simply to prevent the 1% or really the 1% of the 1% from losing their gains thus not to allowing the bubble to pop.  Japan has been "Stimulating" since 1996 we see how well that has worked for them.  A ton of debt, a declining population and a declining real estate market.

Fri, 01/23/2015 - 11:28 | 5696658 slaughterer
slaughterer's picture

PMs finally got Benoit-ed.  It was only a matter of days after the Draghi bazooka break out that they would do this.  EU serfs converting TEUROS into PMs: go to Benoit's house to thank him for the discount.

Fri, 01/23/2015 - 11:27 | 5696663 LawsofPhysics
LawsofPhysics's picture

and the Swiss can buy even more now...

fucking geniuses.

Fri, 01/23/2015 - 11:28 | 5696659 lester1
lester1's picture

The Federal Reserve hates gold. They force their "primary dealer" banks to short paper gold and silver certificates to artifically bring down the price. The FED wants everyone in stocks and risky assets.

 

Since the FED is unaudited and unregulated , we will never know for certain how much they are meddling in the precious metals market.

Fri, 01/23/2015 - 13:23 | 5697183 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

The fed desperately needs an Edward Snowden.

Fri, 01/23/2015 - 11:27 | 5696660 Bangalore Torpedo
Bangalore Torpedo's picture

It needs to go through a correction.  It spiked too far too fast.  On the other hand, JPM, GS, and SB are just toying with the G&S prices as a cat might play with a mouse before killing it.  The sad reality...this is just a lower high in the on-going G&S bear market....so keep stackin'

Fri, 01/23/2015 - 11:42 | 5696713 Bay of Pigs
Bay of Pigs's picture

Bullshit. The "correction" was $1900 down to these levels and has lasted almost four years despite trillions of QE. There has been no real  "spike" in PM's since 2011 either. Physical bear market in gold and silver? Surely you jest.

Fri, 01/23/2015 - 12:17 | 5696896 Bangalore Torpedo
Bangalore Torpedo's picture

Look bubba, I own PMs and want them to go up as well, but a cursory look at a 3 year chart shows that gold needs to break 3 key levels: 1330, 1375, and 1420ish.  Until that happens the current trend of lower highs and lower lows HOLDS...get over it and keep buying.

Fri, 01/23/2015 - 12:34 | 5696996 Bay of Pigs
Bay of Pigs's picture

And you can stick your useless TA up your ass. We know the who, how and why on gold since 2011. Who do you think you are kidding here at ZH with your charts and simpleton approach to this issue?

Fri, 01/23/2015 - 11:29 | 5696664 Kaiser Sousa
Kaiser Sousa's picture

wow the same pattern another 3 days in a row...

shocking.

 

http://www.kitco.com/charts/livesilver.html

Fri, 01/23/2015 - 11:31 | 5696677 medium giraffe
medium giraffe's picture

move along...

Fri, 01/23/2015 - 11:30 | 5696673 Seasmoke
Seasmoke's picture

HAHA. What took them so long ? Late nite partying in Davos ??

Fri, 01/23/2015 - 11:34 | 5696676 Millivanilli
Millivanilli's picture

Competitve devaluation is getting fucking vicious.   The reverberations on emerging economies is going to be intense.   Shit, the people in euroville have to be scratching their heads as their money gets hammered down.  Yes, your purchasing power is going, going gone.

 

Meanwhile the rise in the US dollar is going to KILL KILL KILL corporate profits as the stawks levitate higher.   One of these days an event that can't be controlled is going to blow the roof off this ponzi...

 

Keep on stacking, bitches.  And keep your boats loaded.

Fri, 01/23/2015 - 11:33 | 5696678 directaction
directaction's picture

An quick upside down speed bump for precious metals.  

Fri, 01/23/2015 - 11:34 | 5696683 Jason T
Jason T's picture

I bought GLD puts right before that move.. 

 

Armstrong warns on gold bitchez amist dollar rally

Fri, 01/23/2015 - 12:50 | 5697053 Bay of Pigs
Bay of Pigs's picture

Sure he does. Good old Marty has been a nice water carrier lately for the paper humping Bankster pricks that promote and defend the fraud ridden pigs like GLD and SLV. They are neck deep in the PM suppression and manipulation game (JPM and HSBC are their custodians).

And no Jason, I don't fault you for trading these fraudulent vehicles and making some money in the casino. Good luck.

 

Fri, 01/23/2015 - 11:39 | 5696684 Alberich
Alberich's picture

Dips like these are a good test of miner stocks. Watch the ones that outperform and BTFD. And have some perspective; even on the 5-day this is barely a blip.

Fri, 01/23/2015 - 11:33 | 5696689 Armed Resistance
Armed Resistance's picture

The day is early, so let's round trip this Mo Fo...

I saw the Draghi put, I'm waiting for the Putin call- today looks like a good day to buy!

Fri, 01/23/2015 - 11:36 | 5696695 Dapper Dan
Dapper Dan's picture

In other news:

Francis I

Jan 23, 2015, 03:23 PM GMT 7m
Pope Francis Tweets families to shun electronics and learn 'how to talk to one another again'    @AP Read more on abcnews.go.com Pope Francis (@Pontifex) | Twitter
Fri, 01/23/2015 - 11:36 | 5696696 indygo55
indygo55's picture

They only got 20 cents out of it. In silver that is. I wonder how much paper fiat they had to print to do that? 

Fri, 01/23/2015 - 11:38 | 5696704 Eternal Complainer
Eternal Complainer's picture

Annual mine supply x 100 every 5 mins

Fri, 01/23/2015 - 11:47 | 5696752 Latitude25
Latitude25's picture

Does it really matter?  It's all TP to be flushed down the toilet.

Fri, 01/23/2015 - 11:38 | 5696700 fattail
fattail's picture

You know once you get used to it, its not so bad.  In fact, I am getting to the point where the rougher it is the more I like it.  

Fri, 01/23/2015 - 12:09 | 5696855 agstacks
agstacks's picture

I'm a fellow silver masochist 

Fri, 01/23/2015 - 11:38 | 5696702 The worst trader
The worst trader's picture

Slam metals and VXX to go green,day after day after day! The only way the madness ends is a world war me thinks................. Goodbye cruel world I;m leaving here today, goodbye goodbye goodbye...........

Fri, 01/23/2015 - 11:45 | 5696728 Vooter
Vooter's picture

I'm bored with the whole thing...just keep buying the phyzz...and don't do it to make money, or even to preserve wealth...just do it out of spite...

Fri, 01/23/2015 - 11:44 | 5696733 FieldingMellish
FieldingMellish's picture

Small specs were too bullish. Normal clearing process. Somehow, this never happens in the dollar or Euro.

Fri, 01/23/2015 - 11:49 | 5696736 Latitude25
Latitude25's picture

Just like clockwork.  Money printing always accompanied by PM suppression.  It's a good thing though because phys will fly off the shelves all that much faster and in the end break this fraud.

Fri, 01/23/2015 - 11:46 | 5696741 NoWayJose
NoWayJose's picture

Moved some dry powder into paper gold on the dip.  Looks like a no-brainer buy with the Grexit coming up.  Do markets not 'see' things like Draghi's QE coming -- or is it just the sheeple that come in AFTER the news?  Same thing could happen with gold -- despite polls showing Greece will go anti-EU will the sheeple not see this until Monday?

Fri, 01/23/2015 - 11:56 | 5696794 froze25
froze25's picture

The Euro did this before in 2012 they just called it LOT or something like that and they did 1.6 Trillion of it.  What happened they went further into recession.  The QE will not work and will not stimulate their population demographics are against them.  Germany is bull dozing residential and commercial real-estate and converting it into parks do to their population issues.  No amount of QE will create the people, real humans beings that are needed for real economic growth.  The only EU countries that have good prospects are the northern EU members but they have good pro-family pro-children policies.  The Southern EU members don't.  The EU will breakup its just a matter of time now.

Fri, 01/23/2015 - 16:31 | 5697831 zeroheckler
zeroheckler's picture

...real human beings with real jobs that are needed for real economic growth.

fixed it for you

Fri, 01/23/2015 - 11:46 | 5696742 yogibear
yogibear's picture

When central banks get desperate they resort to massive printing.

It's a historical fact.

Fri, 01/23/2015 - 12:09 | 5696863 ClowardPiven2016
ClowardPiven2016's picture

to fund the wars they orchestrate

 

 

Fri, 01/23/2015 - 11:47 | 5696751 Not My Real Name
Not My Real Name's picture

Remember when these waterfall drops would be $50 or $100 and the prices wouldn't rebound? Now they're lucky if they pummel the price by $10 -- and when they do it snaps back PDQ. Time is running out for the manipulators.

Fri, 01/23/2015 - 11:47 | 5696753 agstacks
agstacks's picture

And we will finish today above the 18.333 mark where the waterfall commenced.

Fri, 01/23/2015 - 11:50 | 5696762 Spungo
Spungo's picture

I'll be a buyer at 1200. Bitches!

Fri, 01/23/2015 - 11:49 | 5696763 surfvin
surfvin's picture

They would normally have a world war, but our side is too broke.

Fri, 01/23/2015 - 11:51 | 5696767 papaswamp
papaswamp's picture

....right after a big FX options expiry...hmmm. Wonder if someone got caught in a bad position and needed to make a move.

Fri, 01/23/2015 - 11:51 | 5696772 Hobbleknee
Hobbleknee's picture

These pretzels are making me thirsty!

Fri, 01/23/2015 - 11:54 | 5696790 Latitude25
Latitude25's picture

Dire Straits - Money for Nothing

https://www.youtube.com/watch?v=iwDDswGsJ60

Fri, 01/23/2015 - 11:55 | 5696797 Frank N. Beans
Frank N. Beans's picture

This is my shocked face.

Fri, 01/23/2015 - 11:58 | 5696810 GubbermintWorker
GubbermintWorker's picture

That's a pretty meager beat down.

Fri, 01/23/2015 - 12:01 | 5696817 Prober
Prober's picture

The Regimes will NEVER allow gold & silver to become serious competition to their fiat currencies.

If you want gold & silver to be currencies again, then FIRST you must depose the regimes - by force, not just fantasy.

Fri, 01/23/2015 - 12:19 | 5696906 Bangalore Torpedo
Bangalore Torpedo's picture

Or wait until the fiat goes to zero...whatever happens first!

Fri, 01/23/2015 - 13:50 | 5697313 Prober
Prober's picture

Fiat can NEVER go to zero - entire population, especially huge army of government employees, and 200 MILLION entitlement program recipients, AND Regime's power structure, ALL depend upon fiat, will never allow it to go to zero - this is a gold fanatic's fantasy.

Fri, 01/23/2015 - 12:08 | 5696845 Thisisbullishright
Thisisbullishright's picture

I wouldn't consider a $10 drop in gold to be a "shellacking"!

 

Fri, 01/23/2015 - 12:11 | 5696876 billsbest
billsbest's picture

Maybe the 99% was annoying the 1% ?

Fri, 01/23/2015 - 12:14 | 5696889 billsbest
billsbest's picture

Bring it on bro - - gives family members another opportunity to git some of dem eagles.

Fri, 01/23/2015 - 12:18 | 5696912 Conax
Conax's picture

Hell boys, that ain't a beat down, that's a normal Friday morning.

They hate leaving it up over the weekend for everyone to see.

Fri, 01/23/2015 - 12:24 | 5696946 surfvin
surfvin's picture

Not much air where gold is going, it's just taking a breath.

Fri, 01/23/2015 - 12:27 | 5696956 robertocarlos
robertocarlos's picture

This is good news. The shellac helps preserve the gold and silver so they don't rust and tarnish as easily. If I owned gold I'd have it shelleced.

Fri, 01/23/2015 - 12:27 | 5696958 rejected
rejected's picture

Like all other markets, it's manipulated. There are no reasons other than it's what the manipulators want...

Fri, 01/23/2015 - 13:16 | 5697155 walküre
walküre's picture

Germans are buying. Converting Eurolira to precious metals and CHF. The only game left in town. Suppose that Dutch, Belgians, Austrians and even French are doing the same.

There is simply NOWHERE else left to put the money.

Fri, 01/23/2015 - 13:23 | 5697178 jomama
jomama's picture

This is clearly simple supply and demand

Fri, 01/23/2015 - 13:24 | 5697182 JPMorgan
JPMorgan's picture

Options expiry and a bullshit Fed meeting next week.

Just like clockwork, the end of the month beat down.

Fri, 01/23/2015 - 13:23 | 5697190 Whalley World
Whalley World's picture

Just heard O gave a speech to the Elite stating a cyber attack on the grid is an eventuality.  A stack with Shine will be worth more than anyone could imagine when your digital $ is faded to black. 

https://www.youtube.com/watch?v=7FCwbGi9ueI

 

Fri, 01/23/2015 - 13:23 | 5697191 GIABO
GIABO's picture

I bet you ISIS did it.

Fri, 01/23/2015 - 15:12 | 5697574 Jack Ryan_00
Jack Ryan_00's picture

Not an unusual swing, overall a good looking trend so far......except if your buying physical

Fri, 01/23/2015 - 17:44 | 5698121 assistedliving
assistedliving's picture

survived the week is about all i can say...

peaceful w/e to all

 

Fri, 01/23/2015 - 18:07 | 5698182 theyjustcantstop
theyjustcantstop's picture

it's the best of times, for people who can afford phys, gold.

it's the worst of times, for people in my situation, I've got some paper gold, (curtsey of living in america, investing in 401k's, and the irs,),

I'm more afraid of my paper gold now than ever before.

when repatriation of gold happens, as it's pace as lately, and the word trust is never spoken, it scares me.

when cb's are buying gold, you know they have the ability to buy tons at a time, and as commented before, any drop in gold could happen, people trading oil, and fx paper for gold paper.

now my fear, there's big players in the phys. market now, and the BIS can't control what little phys. is out there, they can systematically shear the sheep when the true amount of phys. is unknown.

one of these days the big boys are going to have to drop trou, and show who's bigger, telling people your colored piece of paper is worth more than theirs, can only go on so long.

then everyone, (such as me, and many others), will be corzined in the paper gold market overnight.

 

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