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Silver & Gold Slammed As Dollar & Bond Yields Surge
As the USD levitates along with Treasury yields, so Precious Metals are coming under significant pressure once again...
Silver and Gold accelerating lower...
As the Yuan-Treasury linkage becomes even clearer...
Charts: Bloomberg
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Gold is still outperforming the major indexes YTD
Just get some and STFU.....the price doesn't matter right now. Get the real crap and make sure it's in your hand.
It will be the only thing left standing.
lol
I got 5 100oz Sunshine Bars yesterday, so of course the price went down. Of course they all sold out yesterday in 45 minutes, so demand really must be low like the zionist jew media says....Is the US mint even printing ASEs? they get their blankls from Sunshine, who cannot keep up with demand for their own products.
People,
Look at de calendar. It is the end of the month. That is the reason. Like every month's end.
We're almost at September.....that's gold time man.
Seasonality is your Friend.
Exactly. Gold to Silver ratio is almost at historic high. Get it while its cheap.
Here's a case for 1:1 G/s ratio.
I'm looking at the 5 year chart and in that period G/S has never been as high as 1/80. It barely topped 80 in 12/08 and again in 08/1991. Both times it dropped to around 50. Today is 80.03.
Of course the low was at 3:1 at the runup in silver to $50. With $3500 Gold, Silver could be ... hmmmm? Someone got a calculator?
Arguments anyone?
It doesn't matter what they do at this point, they will continue to manipulate PM,s until the whole thing crashes which seems to be happening right now.
"It is dangerous to be right in matters on which the established authorities are wrong".
“Paper money eventually returns to its intrinsic value – zero.” (Voltaire, 1694-1778)It's the end of the month and the crazies are out of food...
Alright Zero Hedge, how is this not a violation of the sites policies?
Of course, it is, and of course this person, that has been with us for all of 2 weeks, is another poster child for the below 70 IQ scores.
To TStun, something having to do with precious metal reporting is being reported by by somebody somewhere....but that person is a "zionist jew"....brilliant.
Deep thinking!
Why? Are you going to go crying to the "authorities" you little pussy???
Do us all a favor and change your user name, Bronson certainly did not whine like some little girl.
The floor does appear to be in place. Premiums are through the roof.
Currency coins (ASE, Maple, Phil ) 22% and up.
90% junk silver: 40% and up.
Private silver rounds: 11% and up.
And the phyzz is running OUT.
lol
I got 5 100oz Sunshine Bars yesterday, so of course the price went down. They all sold out yesterday in 45 minutes, so demand really must be low like the zionist jew media says....Is the US mint even minting ASEs? they get their blanks from Sunshine, who cannot keep up with demand for their own products.
I already know that you know, Vince Foster's Ghost.
But for the rest of you, especially those without the clue, this is something that you had better listen to, pay very close attention, and pay heed to the warning.
I may write Doom and Gloom. But this is damned frightening at best.
Jim Sinclair is being interviewed by a silenced and stunned Greg Hunter.
No interruptions by Greg Hunter in this one...
https://www.youtube.com/watch?v=u7tTdO6oxUA
B.S. Freakin Greg never stops interrupting in any of his interviews.
Thank you for that link.
More silver on the way this month, and every month while its still affordable and available.
+1000
"Our god is an indian that turns into a wolf ..." AQTHF, Mooninites
Value, or worth, is in the eye of the beholder, just like beauty. I wonder about the role physical gold and silver might play in the future. At least they can't be created out of, or vanish into, thin air due to a couple of keystrokes.
As of 8:45 this morning you can not access Goldsilver.com website
Let's see ... China is selling treasuries ... and bond yields go up.
Well gosh ... does the Fed have to raise rates when China will do it for them?
Who is behind the curtain?
about 46 B sales today.
ha. where oh where are the buyers of the greatest, safest paper?
oh, da fed, rehypothicate dat...
Is it QE when the Fed buys China Treasuries? Fortress balance sheet?
Precious Metals are coming under significant pressure once again...
You mean that they are getting manipulated down once again! TPTB are obvioulsy in panic mode. But I don't think they are going to be able to keep playing this smash pm card much longer. Mines are closing and supplies are rapidly drying up. The day is rapidly appraoching when you won't be able to get any gold or silver at any price.
Durable goods will probably switch this picture pretty quickly.
You actually believe goverment reports?
Not in the slightest. But I do believe in perception management.
LOL
ZH, you failed to mention that it is Options Expiration at the CRIMEX, today.
also ZH looking at Gold priced in $
Plenty of other fiats to compare.................
Gold and silver are the whipping boys of the Fed. Besides, today is options expiration for precious metals at the Comex - so they are supposed to go down in the free and fair markets of America,
free and fair markets of America,
Absolutely unfettered.
Same ole schmidt, different day.
Gold is still out-performing Hillary's chart.
We're good.
Johnny
Disgraceful fraud by criminals masquerading as bankers!
To me it is very strange that gold and silver are ot doing anything in these troubling times....markets and FX are crashing ..and PMs do nothing...very strange I think..something is up and is going on behind the curtain
They have performed opposite of fundamentals since '09.
Proof of market rigging is that year after year sales demand is at record high, while supplies are running low, yet prices keep going down.
It's happened before and always ends poorly for the market riggers.
There will not be a slow grind up this time. It will be an overnight revaluation when they lose control or something breaks, IMO.
Ya think? Time to beat down the price for the big boys as they make their exit.
Why not...?
Use the funny money from your bank's prop desk to short paper metals into the dirt, while simultaneously buying physical hand over fist at home.
We are in the late innings.
Tick tock, tick tock...
I used to look forward to these drops as buying opportunities - but there is very little junk silver available and premiums are sky high on what is left. Silver seems harder hit right now, so I will have to start checking deals on one ounce coins.
The Yuan-Treasury un-linkage, demonstrated in the graph, makes sense when considering the recent news of China dumping 100 billion UST.
As people exit out of the market (equities) this should tend to strengthen the dollar and put some "natural" downward price pressure on gold.
Then the PPT turns up the heat on that downward price by dumping gold derivatives.
Today will test the faith of Gold believers.
Discuss..
All of these things would seem to benefit ine dynastic country. Any guesses?
Buy Gold & Silver @ EurGold https://www.eurgold.eu
My guy can still get Eagles @19 a piece.....And the way I look at it, who's gonna care about having spent $380 for a roll when Silver heads back to $60 an ounce! But what do I know?
we must be getting close to the end. The overnight gyrations in all the markets are rather telling
China is controling the use of futures now.
it makes no sense that the market sells off going into the close yesrterday, sells off a bit more in early evening trading and suddenly without news reverses a 1% decline last evening and goes positive a couple of percent.
how come places on the web like ZH discuss that but we see/hear no discussion of this absurdity in the media. Its one thing to not mention the perception management aspect, and another thing to avoid mention that its even happening overnight in light trading when all markets are closed.
lets say its not the government or Fed doing it--then its the HFT hedge funds even if they are the in house funds of hte banks.
they cannot obviously report anythign close to that because we are probably dealing with the survival of the markets.
Now, where can people put their money /savings if the markets are not markets with true price discovery and that does include the equity take downs like yesterday afternoon and it includes prec metals until the end.
going further, how can anyone feeling bullish even want to buy into a market when we see random up and down 3-4% moves?
Seriously, I want to buy a few things but am afraid. I wanted to buy Apple Monday for example. Options were too expensive, and one is too afraid to get in cause it can reverse down while you are out microwaving lunch. Look at monday morning, look at the last 30 minutes yesterday, and look at overnight past 2 evenings.
if you cannot or do not want to trade futures 24/5 what do you do?
This is getting awfully predictable.
In which case you'd be a billionaire.
I just hope the prices keep sinking until I get my next paycheck.
Today is options expiration- same old, same old
The two realities that the gold fanatics do not understand or accept, and the reasons why gold will NEVER be the sky-rocket that they lust for in their fantasies:
1. The USD and treasuries will NEVER "crash" and become worthless. The USA is on a firm trajectory for inevitable misery due to positive feedback loop in parasitic all-consuming & destroying entitlement spending, BUT USA will just decay, crumble, decline, and slide into misery and mediocrity and third-world conditions - NOT crash into complete breakdown of monetary, financial, economic, governmental systems, worthless USD & treasuries, etc
2. There is NO regime that will want to implement ANY kind of limited spending and debt issuance, eg any kind of gold-backed monetary & fiscal system, and the ONLY way that a gold-backed monetary system could be effective and sustainable is if ALL the major players implement it AND conform to it - ABSOLUTELY NOT going to happen on this planet.
Therefore gold will always be just a commodity, and a frustrating fantasy for the fringe fanatics.
When they print so many trillions of dollars you can pave the roads with them, I'm sure everyone will still want the paper? And maybe the government won't ever go to gold (because than they have to give up stealing), but that doesn't mean the citizens won't find a way to trade with it. Look at what's happening in Greece right now. Not one currency. They are using other methods for settlement. It will happen here, for sure. And one more thing... if I pay you with gold instead of the approved currency or electronic transfer method, I can avoid ALL taxes and fees related to that transaction.
Yes, when conditions deteriorate, people will increasingly barter, but with everything, from service exchanges to auto parts to chickens, not just gold.
NO regime will EVER make gold an official currency - that is a gold fanatic's fantasy.
China is jawboning the release of a gold backed currency in direct contradiction to this statement. You should call them before they make that mistake.
Make a post AFTER the chinese communist party actually implements this so we can examine the details, until then, just wind.
Thank you for your guidance on posting! In the meantime, here are two "regimes" that have gold backed currencies. I've penciled you in for a post to be made after China does the same! See you then!
http://www.nydailynews.com/news/world/isis-unveils-gold-backed-currency-...
"Fortunately there is another place worth considering. For now, gold only comprises about 5% of Mongolia’s $4 billion money supply. Not much. But the important thing to pay attention to is the trend.
A few months ago, the government of Mongolia nearly doubled its gold holdings to 3.5 tons. This is a huge move.
Given the massive resources in the country (coal, copper, gold, oil, uranium, etc.), Mongolia is set to become one the world’s richest countries. And I think we can expect them to continue trading out paper reserves for the gold that’s already under their soil.
It’s possible that, if the trend holds, Mongolia’s gold holdings will back 10% to 25% of the tugrik money supply in just a few years’ time. Over the same period, gold holdings in the US, UK, and Europe will probably decline to less than 2% of their perpetually inflating money supplies."
Read more: http://www.businessinsider.com/are-there-any-currencies-backed-by-gold-2...
Both are fantasies.
You can only have a true gold backed currency if your currency is actually redeamable for gold. If not, then it's just another proportional reserve system where they SAY the paper is backed by gold. But even then if coins are minted, the denominations of the gold coins are FAR greater than the actual gold content.
Besides, the Mongolian currency is a CLOSED and controlled currency, so you can't just go and exchange it. Foreign exchange of mongolian currency is limited to a maximum of about 40 cents.
BULLSEYE!!!
One reason alone why NO regime would implement either a gold currency or a currency backed by and REDEEMABLE in gold is that ALL the gold would be very quickly drained out by creditors, speculators, hoarders, etc.
THE *ONLY* WAY THAT A CURRENCY REGIME BACKED BY AND *REDEEMABLE* IN GOLD CAN OPERATE IS IF *ALL* THE MAJOR MONETARY AND ECONOMIC POWERS *COMMIT* TO IT.
IMPOSSIBLE IN THIS ERA.
China could pull it off if they have enough metal. When will they fess' up and admit how much metal they possess? If true that 400 Oz bars have been bought and processed through Swiss refiners to 99.99 then recast in their preferred kilo bars, the Chinese could be in the driver's seat going forth after some of the paper shredding has taken place, especially the garbage derivatives!
Official, maybe not. But it will always be real money.
No, gold isn't money, it's just a metal. People could almost as easily barter copper.
It does not matter whether gold is an official currency or backing for one or not.
You miss the point of owning tangible assets. It is to protect your wealth. Gold will not make you rich. That is not its purpose. It will however maintain your buying power over the longterm.
All paper currencies eventually go to zero.
You can use stocks or bonds for wealth preservation and even wealth generation. That is true. However there are times when it is much better to have your wealth in your possession and a rather compact form. That time is when society crumbles.
I never knew bonds were supposed to move 7 percent per day
Right! Did you know that if you listen carefully, you can hear a market scream?
Please keep going with the naked shorts and make gold free! I can't wait to stack higher!
Guess someone got the durable goods numbers early. Must be noce.
This is reallyonlymanipulative retaliation for china dumping their UST holdings. Make the concept of a gold-backed anything worthless by driving the price down. This is good news for china, since they can sell USTs and buy gold - and have it delivered.
If the paper hammer loses its power, the end comes soon. And what an end it will be.
I'll have to verify this on my own, but I believe it, so I'm posting it for the benefit of others. Silver is the *only* commodity (and this includes pork bellies and coffee) that trades lower in today's dollars than it did in early 1980's. Granted, most commodities are consumed at a 100% rate, but silver's no slacker in that area, either. Fully 40% of silver demand is in irrecoverable industrial use. To summarize:
- silver is a strong industrial metal
- it has an association as real money
- is in high demand
- many years we use more than produced
And yet, somehow, it's cheaper today than it was in the early 1980's in nominal dollars. Ya, right. Unless these stats are incorrect, to which I'd happily admit I was wrong.
-Argenta
It's also cheaper today than it was in 2006 - Silver is marking new multi-year lows this morning. We are in no man's land right now and the only obvious support is at $10/oz. so who knows where the final low will be. I am still waiting to make a purchase as I am pretty sure tptb are not even close to finishing their shorting operations in the metals sector.
The question being... How long are you willing to await delivery on your phyzz? Hands are far stronger than they were when I first stacked a dozen years ago. If you are the patient sort and have significant confidence in your dealer, then more power to you! There are many I've encountered who want it right away if they're parting with fiat. I have such a quality dealer, but delivery times range from 2 to 6 weeks for my Ag and I'm simply not witnessing a lot of Au/Ag capitulation as all sources already know the Chinese demand remains strong, the Dragon vacuuming whatever of both it encounters. I see a series of purchases being done while the iron is hot as the smart way and have saved almost enough for another 100 Oz bar. Life is wonderful!
I generally buy from the same dealer and have been using this dealer for a few years now. They generally will not take orders for items that are not in stock, so I have never had to wait more than a few days for delivery. I have a feeling that so many people are expecting fireworks in September, that when the central banks actually paper over and smooth the markets, the metals will get sold as worthless relics. If that happens, then I will comsider a purchase at that time. If the lows are already in, then I will be buying higher once we have confirmation of the start of a new run higher. I don't see any major overnight "resets" coming in the price of PM's as some of the cheerleaders are ranting about. TPTB have plenty of resources to prevent such an event - just look at the oil price and it's managed decline.
As of the middle of summer I was always taking delivery on my PM purchases within 8 calender days. I buy from https://www.texmetals.com/.
Now, you can't always get the PM's in the form that you want. But I've always been able to get both gold and silver within 8 calender days.
Check out the premiums, insane disconnect!
https://comparesilverprices.com/
That's always the case when PM prices go down. Everyone in the supply chain has excess inventory, purchaced at higher prices, so they want to recoup their losses.
Also, there is slightly increased demand for physical goes up when the price goes down, so the dealers take advantage of it.
Already in the background, I can hear from the 70's the disco version of "Our Day Will Come" from Frankie Valli. This stacker has no worries as their chutzpah is closing in a painful feedback loop. When paper pushers can't supply the metal their clients demand as payment, the game will end. It's hard to say which will cave first.. Gold or Silver? Nevertheless, it'll be epic to experience watching the squeeze with full knowledge your holdings are unencumbered.
It's game over for paper if they absolutely positively don't hammer the metals down. It's the government's greatest fear, not mine.
You evidently aren't old enough to remember.
Silver in the early 80's was ONLY high becasue Nelson Bunker Hunt and his brother tried (and failed) to corner the silver market, beginning in the 1970's. Want the real price of silver in that era? look to prices in the late 80's and 90's when it was $4 to $5 an ounce for around 20 years, right up until 2004.
And you are correct about the amount of silver used industrially, it is about 40% to 50% of annual production. However the recovery rates are beginning to increase, along with recovery of gold, through greater recycling of electronics and more stringent pollution controls.
How long before the Dollar/Treasury lifeboat sinks too?
Meanwhile physical Morgan silver dollars are selling for no less than $23 dollars on Ebay...don't those guys reed da news?
True, but do be careful! There are a boatload of fake Morgans which have come in from China. No worries of the few I own, as I bought mine in 2004 from a Florida collector before the phonies began showing up. Sadly, some stackers could get screwed if their coins aren't first pre-screened.
Bond yields soar, which down the road will be paid with: ?
When the markets tank, they'll always smash Gold because Gold is a fear commodity. Basically the smashing is designed so if people look at Gold moving lower their fears get dilited somewhat.
It's all Central Planing Playbook 101.
Anti-CB Playbook 101 - Wait for the markets to really get smashed, then wait for the massive smackdown of Gold, then buy. USE THE CENTRAL PLANERS.
Maybe traders are forgetting that silver is an industrial commodity and its spot price is getting closer and closer to its cost of extraction.
Ulike Gold, the majority of Silver production comes as a byproduct of other mining operatios, and not from Silver mining specifically. Therefore, the theoretical cost of Silver production is almost zero. That will remain true until the base metal mines begin to close due to low commodity prices.
Yup, that's what most people don't understand. The actual cash cost for silver as a byproduct/coproduct of copper, tin, zinc, and lead mining, is only a couple dollars an ounce.
There are only a couple silver only mines in the world.
Wow! A commodity going down in a terrible economy and deflationary market crash?! Inconceivable!!!
Gold is a currency, you numbnuts.
Don't get it, then don't buy it.
But don't come knocking on my door for a handout when the dollar really shits the bed and everything you thought had value (including USD) is worthless.
No. It's not. It's a shiny rock, good for nothing except coating headphone jacks. I marvel at the mindlessness of you gold bugs buying into a downtrend, getting crushed, and then thinking the answer is to buy MORE! I'll tell you what, when the famine is on, you take your gold and see if you can buy food. No one is going to sell to you and the moment you flash your gold, everything will go black and you'll wake up later with no gold and a raging headache. Then you'll remember this comment and lament your foolishness thinking that a banker-manipulated commodity would save you from the bankers.
I keep saying it, but no one listens. The ONLY safe investments are land, away from populated areas that you can grow food on, tools to work that land and skills that people in your area are willing to pay for. I you think you're going to "bug out" with some storable food and a bag of gold, hide in your bunker and survive, you have another thing coming.
I'll be praying for you all. God help you.
You don't own the land - look at your tax bill numbnuts
I'll trade a beeve on the hook for an ounce of gold.
If everything collapses, then I'll trade my beeve on the hoof for 15 to 20 ounces. Want a better "price"? shop elsewhere.
People have already forgotten that a decade ago, gold was $300/oz. Some say it can't go down that much. Didn't they say the same thing about house prices before 2008?
I hope we all live to see the big crash. There are tons of mistakes that people make that will cost them dearly. I dont plan on trading any gold or PMs for anything. I have all i need, thankyou. And maybe i will get hit over the head,mand maybe you will ttoo, but i dont think I'll be waking up with less than what i started with.
Obviously you failed Geology 101 in college. There is a difference between a rock and metal.
Ok got it. Missed the monkey-hammered article. My bad.
Why no one is talking about the COLOSSAL ammount of Silver mined every year !!!???
Rare metal ? How can you call 1 BILLION ouces mined every year a RARE METAL ?
Every year it is mined more silver than in all that was mined for 5000 years until the XX century !
GET REAL IDIOTS !
The Gold / Silver ratio should be 1:1000 !
Slingshot. We shall not be moved.
Phyzz is running out? Yeah, that's why silver is down 50 cents today. You guys crack me up. Tell me how many years silver has been running out. I've been hearing that for 10 years now. Does supply and demand not apply to silver? Or maybe you can realize you fucked up and bought high. That's more likely.
There are so many charlatans out there saying crap they know nothing about. Just look at the track record. Those perma bull silver and gold guys suck!
Phyzz is running out?...
As I write this spot ag is under 14 bucks. I've been searching the interweb for any junk silver 100D face from reputable sellers and nothing, nada, zip. What I do find is the occasional "private" seller @ +1600. for 71.5 oz which puts the premium as though there's been no drop from the highs. (and then some)
So yeah, I'd say that would constitute a running out for the little guy.
jmo.
I was going to respond the same way, good luck finding silver for close to spot price.
Hey ShamDimon.
You stepped out of the board meeting Again without an orderly and got to a terminal. You are only allowed to play games on the terminal which have been prescribed by your handlers. Now we'll have to adjust your meds again and put you back on level 1. No playdates with Bankfeind for a week. Remember that you are a Charlatan and your resentment is just anger turned inward.