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It's Precious Metals Pummeling Time

Tyler Durden's picture




 

On heavy volume, it appears someone once again decided that 9amET was the perfect time to dump paper gold and silver on the futures market...

 

Having peaked after 830's PPI print, then tumble at 900ET, then flush at US open...

 

Perfectly normal and unrigged.

 

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Fri, 09/11/2015 - 09:58 | 6535575 JamaicaJim
JamaicaJim's picture

Let these criminal fucks have the spot market.....anybody is a fool to trade paper metals.....asinine.

Let JP Morgoon and Jewman Sucks have this rigged casino....fuck em

Fri, 09/11/2015 - 10:10 | 6535647 Balvan
Balvan's picture

You're fool if you pay fees and commisions to gold dealers while buying overpriced coins, when you can just buy ETFs with much less transaction costs. And easily sell whenever you want, unlike physical which is less liquid and more difficult to sell. Also you need a place to store it, and worry about it getting stolen.

Fri, 09/11/2015 - 10:12 | 6535660 Save_America1st
Save_America1st's picture

get an order of phyzz in now at the dip.  Might as well do it now since it might take 4 to 8 weeks for delivery and who knows how much higher premiums might be by then if you wait.

Fri, 09/11/2015 - 10:16 | 6535687 SoilMyselfRotten
SoilMyselfRotten's picture

Sure Bal, that worked out so well for the MF Globabl suckers now didn't it?

Fri, 09/11/2015 - 10:18 | 6535703 BaBaBouy
BaBaBouy's picture

...CMX Paper Dumping, JUST BECAUSE... There Is "NOT ENOUGH" Bogus Paper GOLD/SILVER On The Market Already (226 to 1)...

Fri, 09/11/2015 - 10:43 | 6535842 agent default
agent default's picture

Pushing 1:300 physical to gold ratio one dump at a time.  Unless some insider learned that the Fed is about to raise rates like crazy.

Fri, 09/11/2015 - 10:49 | 6535873 Payne
Payne's picture

Sentences that begin with "You are a fool" don't ever seem to make me feel foolish.  Sure has never worked for me to get someone to alter a position or behavior.

 

I would buy more right now but I am waiting on delivery from Silver and Gold purchased 16 days ago.

Fri, 09/11/2015 - 10:24 | 6535742 Clint Liquor
Clint Liquor's picture

Stocksuckers deserve it. In the natural world the dumb ones get eaten.

Fri, 09/11/2015 - 10:23 | 6535736 naiverealist
naiverealist's picture

Obviously someone rich and powerful wants to buy a lot of physical on the cheap, all the while denigrating PMs as being "pet rocks" to the muppets.  Maybe some of the bullion banks have to get back their "leased" (and sold) PMs and the only way to do it is to drop prices, even though supplies are constrained.  AJMHO

Fri, 09/11/2015 - 11:55 | 6536238 FeelinFine
FeelinFine's picture

cui bono - To whose benefit?

We live in a world that is a mixture of Huxley's brave new world and Orwell's 1984. Endless proxy wars in the middle east waged by factions bought and sold by the CIA/Mossad while everyone gets high on food/sex/drugs and entertainment. Why does Isis never attack Israel? Why do people not see the inherent danger of the great migration of "syrians" to Europe? Is it a coincidence that ISIS manufacturers a video promoting gold and silver instead of fiat? I've never heard of any "terrorist" group intervening in monetary policy before. They have the human condition down to a science and ring the bell to make us salivate like Pavlov's dogs. No red blooded american wants anything to do with those metals if they support terrorists! Do you see the trick? Is there anyone left to ask the questions?

High volume of dumping in thin liquidity to surpress the price. More physical delivery. Preparing to play the game with different rules one when this one's done. Make sure you have some pieces if you want to play too.


Fri, 09/11/2015 - 10:59 | 6535951 maxamus
maxamus's picture

In no way do I want to buy something like gold/silver, pay a premium, wait 4 to 8 freaking weeks to get it then repeat that process to sell it.  To me that is crazy.

Fri, 09/11/2015 - 11:46 | 6536199 Save_America1st
Save_America1st's picture

placed my order a little while ago w/ SDBullion.  1.99 premium for a roll of of 20 Indians.  They said it would ship around September 30th.  So that's not too bad.  Better to pay relative still low premiums now than double or triple that down the road.  In 2008 premiums went to 100% for a while.

and I guess I'll just have to call you crazy...why would you ever want to sell it???

Fri, 09/11/2015 - 12:14 | 6536333 Enki Anu
Enki Anu's picture

If you don't understand Gold and it's 6000 year old history,
Go to MSNBC, leave ZH where Homosapeans are having discussions .

Fri, 09/11/2015 - 10:23 | 6535689 BaBaBouy
BaBaBouy's picture

Buy Some Apple Plastic Junk...

Fri, 09/11/2015 - 10:16 | 6535692 Bill of Rights
Bill of Rights's picture

And he is calling the above poster a fool lmao the Hypocrisy it burns...

Fri, 09/11/2015 - 10:22 | 6535728 Xatos
Xatos's picture

And you're one cyber attack/false flag/emp/illiquidity issue/availability issue from your ETF being worth less than paper.

 

Dumbass.

Fri, 09/11/2015 - 10:25 | 6535749 r3ct1f13r
r3ct1f13r's picture

Re: Balavan

The gal and I have a new drinking game.

We press f5 and drink if the down votes on that comment increases.

Don't think I'm gonna make it unitl market close, maybe  lunch, maybe.

Fri, 09/11/2015 - 10:38 | 6535825 larry david
larry david's picture

I upvoted you on the off chance you are being sarcastic. Or maybe you're Mr. Yellen, and the NSA is logging my votes, and it will save me from being droned in the future. 

Fri, 09/11/2015 - 10:50 | 6535889 Al Bendova
Al Bendova's picture

If you're only buying paper gold' what's the point?  Converting fiat currency to real money is the only thing that makes sense.  Unless you're just really low on toilet paper.

Fri, 09/11/2015 - 10:57 | 6535935 The central planners
The central planners's picture

Dont worry guy it's sarcasm. It has to be.

Fri, 09/11/2015 - 11:07 | 6535996 Mr.Sono
Mr.Sono's picture

i worry more about the banks stealing my money.

Fri, 09/11/2015 - 11:34 | 6536141 RaceToTheBottom
RaceToTheBottom's picture

Balvan, thanks for your post.  It made my morning.  Please act and buy more ETF Gold.  But read the fine print.

Fri, 09/11/2015 - 12:09 | 6536309 gizmotron
gizmotron's picture

Traders gold vs. real gold. One can be stolen from my home, if you can get past my shotgun, my monitored alarm system, and my safe bolted to the concrete. And one can be stolen by the stroke of a virtual pen. Time will tell "who's the fool."

Fri, 09/11/2015 - 12:11 | 6536315 jaxville
jaxville's picture

Balvan...Just in case your comment is not sarcasim...

  You buy precoius metals to protect yourself from the excesses of the financial sector. Those offering paper gold are the very ones you need protection from.

  Paper gold is only suitable for short term speculation. 

Fri, 09/11/2015 - 12:35 | 6536437 Stares straight...
Stares straight ahead's picture

@Balvan:
" and worry about it getting stolen."

Exactly! Why worry about it getting stolen, when instead, you can just know it has been stolen.

Fri, 09/11/2015 - 10:28 | 6535763 XAU XAG
XAU XAG's picture

I Know many of you dont like tec charts

 

http://therealasset.co.uk/charts-and-graph/gold-price-charts/#!prettyPhoto/8/

 

The trend is down for now

 

We will have to wait for a resumption in the bull

Fri, 09/11/2015 - 10:58 | 6535945 Wookie
Wookie's picture

I guess I need to sell a small amount of gold and silver so that the price goes up for us when we really need it to.

Fri, 09/11/2015 - 10:13 | 6535576 Captain Benny
Captain Benny's picture

Just another day us retail buyers can take cheaper physical off the market!

The retail demand is getting to the point where commercial demand will start seeing supply shortages.  The "Buy Silver, Crash JPM" campaign converted and woke up a lot of people who are both dedicated and persistent buyers.  They aren't interested in selling for USD.... They're interested in long after the great crashes to come!

I took 500 ounces off the market a week ago.  Silver is so fresh its still warm from the pour.  Fuck the bankers.

Fri, 09/11/2015 - 10:24 | 6535740 jakesdad
jakesdad's picture

"They're interested in long after the great crashes to come!"

 

I rephrase this as:  "my ag pm isn't an investment, it's bail-in insurance!"

 

sitting on a little over 50 lbs (840 oz) myself but may start buying again if we see dips.

Fri, 09/11/2015 - 11:35 | 6536146 robertocarlos
robertocarlos's picture

That's 4200 dollars worth of silver. I have more cash than that under my bed.

Fri, 09/11/2015 - 11:40 | 6536167 RaceToTheBottom
RaceToTheBottom's picture

Should not any physical shortages show up in premium increases?

I still see Kilo gold having 1.89%-2.04% premium

http://goldprice.org/gold-prices/Gold-Bars.htm

Fri, 09/11/2015 - 12:14 | 6536337 jaxville
jaxville's picture

We are already seeing shortages. My shop was given notice yesterday that most silver product would go from two week delivery time to six weeks.

Fri, 09/11/2015 - 09:58 | 6535577 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

I love it, keep it going, we don't care anymore. Price matters not to me anymore. 

Fri, 09/11/2015 - 09:58 | 6535579 swanpoint
swanpoint's picture

:(

Fri, 09/11/2015 - 10:00 | 6535589 NRGTDR
NRGTDR's picture

Phys Buyer buys on....

Fri, 09/11/2015 - 10:01 | 6535594 xrxs
xrxs's picture

Just reinforcing my thesis.  Buying more.

Fri, 09/11/2015 - 10:03 | 6535596 Pumpkin
Pumpkin's picture

I've already thrown several pieces of paper right in the trash can this morning.

Fri, 09/11/2015 - 11:37 | 6536160 robertocarlos
robertocarlos's picture

I ball up all my losing lotto tickets and toss them in a 30 liter waste basket. When the basket statrs over-flowing I think about cutting back but then that means my retirement dreams are gonna be delayed.

Fri, 09/11/2015 - 10:03 | 6535597 Argenta
Argenta's picture

Of course.  Story's getting pretty old but predictable.  Nothing else to do but buy.  Stack away!

-Argenta

Fri, 09/11/2015 - 10:03 | 6535600 Dr. Engali
Dr. Engali's picture

Speaking of dumps...., time to go drop a Krugman.

Fri, 09/11/2015 - 10:11 | 6535656 messymerry
messymerry's picture

Make sure to wipe your Yellen,,,

;-D

 

Fri, 09/11/2015 - 10:41 | 6535831 SillySalesmanQu...
SillySalesmanQuestion's picture

And the ending destination for all of this Krugman is COMEX...?

Flush twice so it gets there.

Fri, 09/11/2015 - 10:03 | 6535601 coulous
coulous's picture

the faster price fall the better

i'am long bullion and patient

Fri, 09/11/2015 - 10:03 | 6535603 EmmittFitzhume
EmmittFitzhume's picture

Most silver that I buy is on back order.  So low supply and high demand equals lower price?  Makes sense to me.

Fri, 09/11/2015 - 10:04 | 6535609 lehmen_sisters
lehmen_sisters's picture

If the people doing the paper dumping are looking at this, can you please push Ag under $10? I just got new coilovers on my truck and want to give them a test. Thanks. 

Fri, 09/11/2015 - 10:04 | 6535612 Balvan
Balvan's picture

Why don't you complain when they pump them up? Paper markets brought price from $300 to $1900, why didn't you complain then? It's manipulation only if it goes down?

Fri, 09/11/2015 - 10:10 | 6535646 Latitude25
Latitude25's picture

I didn't complain then and I'm not complaining now.  Only buying.  When the price goes to zero I'll be uncorking the champagne.

Fri, 09/11/2015 - 10:15 | 6535680 Dr. Engali
Dr. Engali's picture

Who's complaining? Not me. I'm hoping they crush it below $1,000.  If people are buying gold for an investment then they are buying it for all the wrong reasons.

Fri, 09/11/2015 - 10:20 | 6535718 debtor of last ...
debtor of last resort's picture

WE don't care about paper markets balvan. For obvious reasons.

Fri, 09/11/2015 - 10:05 | 6535617 Latitude25
Latitude25's picture

Bring it on down to $666 assholes.  Great buying opportunity.

Fri, 09/11/2015 - 10:05 | 6535619 Oldballplayer
Oldballplayer's picture

Trade Paper.  Get Fiat.  Buy Phyz.  Rinse.  Repeat.

Nothing wrong with making money.

Fri, 09/11/2015 - 10:06 | 6535623 youngman
youngman's picture

As less and less are stored in the Comex vault..you will see more and more paper dumps to pick up the physical....so they think..it will work for awhile...but at some point the tap will be shut off

Fri, 09/11/2015 - 10:10 | 6535649 DirkDiggler11
DirkDiggler11's picture

Another day that PM's are on sale. I must say, Platinum prices are particularly attractive at this point.

Fri, 09/11/2015 - 10:11 | 6535658 JJdog
JJdog's picture

did Dennis Gartman say he was long gold in Martian terms this morning? 

Fri, 09/11/2015 - 10:12 | 6535663 seek
seek's picture

Just COMEX minimizing their force majeur losses. Nothing to see here, move along.

I can't wait for that fucking fraud farm to implode. I strongly suspect now that China is confirmed to be dumping treasuries that they're also done playing the gold price manipulation game, and that  is what's behind the explosion in the paper:phyzz ratio.

Fri, 09/11/2015 - 10:12 | 6535667 AC_Doctor
AC_Doctor's picture

Ha ha ha, stupid fucks.  More shiny for: Radhika, Varsha, Aishwarya, Riya and the 1,000,000,000 Mrs. Wongs at bargain basement prices.   Slit your own throats with 1000 tiny cuts!!!


Fri, 09/11/2015 - 10:20 | 6535717 SoilMyselfRotten
SoilMyselfRotten's picture

Slit your own throats with 1000 tiny cuts!!!

 

Edit: Slit your own throats with 1000 paper gold cuts

Fri, 09/11/2015 - 10:46 | 6535866 ToSoft4Truth
ToSoft4Truth's picture

1000 gold leaf cuts. 

Fri, 09/11/2015 - 10:15 | 6535682 Conax
Conax's picture

The bankers are scared of their own holidays and jew bullshit. If the markets are going to take a major shemitah dump, they want those PMs pre-disastered.

Plus, it's Friday. Everyone knows they hate higher PM prices on Fridays.

Fri, 09/11/2015 - 10:17 | 6535697 Phoenix901210
Phoenix901210's picture

Perfectly normal and unrigged! - made me laugh.

Fri, 09/11/2015 - 10:18 | 6535704 Glass Seagull
Glass Seagull's picture

 

 

"'Cause it's the muthaf*cking P.M.P.T."

Fri, 09/11/2015 - 10:22 | 6535729 Pliskin
Pliskin's picture

Upvoted ya for the 'Fiddy' reference.

I bet he wishes he had Gold now.

Fri, 09/11/2015 - 10:19 | 6535710 Omega_Man
Omega_Man's picture

So if this 

Shemitah thing is BS... what do we do about it?

Who do we blame??!!!! 

 

Who do we roast?

Fri, 09/11/2015 - 10:19 | 6535711 Pliskin
Pliskin's picture

At this rate the price could drop to -$ They'll be paying people to take gold.

Fri, 09/11/2015 - 10:20 | 6535713 GFORCE
GFORCE's picture

Probably poor suckers who bought on advice from Sprott or Goldcore. It's impossible to rig a market beyond the short term. Many have tried to corner markets in the past and been burned. There is zero inflation out there so gold is falling. D'oh.

Fri, 09/11/2015 - 12:11 | 6536319 cpnscarlet
cpnscarlet's picture

Oh, I'm sorry, but you blew your cover on that "There is zero inflation" remark. You didn't beat the reaper.

You don't win, but you get a great consolation prize - sodomy by Bernank and a BJ from Yellen.  Or was that the other way arround?

Fri, 09/11/2015 - 10:21 | 6535726 Seasmoke
Seasmoke's picture

Fuck every Tribe member who has GOLD in their last name. Time is running out for you lying thieving criminals. 

Fri, 09/11/2015 - 10:57 | 6535939 Albertarocks
Albertarocks's picture

Larry Silverstein will be happy to hear he's not on your shit list.

Fri, 09/11/2015 - 10:26 | 6535756 AGAU
AGAU's picture

In reality this smackdown is not making anything cheaper for me here in united states of europe.

The following are premia for monsterboxes at my Ag source:

ASE 32.34%

Philharmonic 23.75%

Maple 26.23%

What are others seeing re premia?

 

 

Fri, 09/11/2015 - 12:25 | 6536384 crazybob369
crazybob369's picture

Not sure if they ship to EU, but gainesville coins has gold bars 1-2% over spot. i.e. 1oz no assay bar $1,115. Swiss Pamp with assay $1,125. Spot $1,105.

Fri, 09/11/2015 - 10:31 | 6535782 Jungle Jim
Jungle Jim's picture

Some of us thought the Big Crash was going to happen a lot sooner, like about four years ago. But what crashed instead was the worth of our stacks.

Fri, 09/11/2015 - 10:32 | 6535788 Omega_Man
Omega_Man's picture

Gold bugs need to attack the comex

Fri, 09/11/2015 - 10:36 | 6535810 ToSoft4Truth
ToSoft4Truth's picture

All that's there is a Dell, dude. 

Fri, 09/11/2015 - 10:34 | 6535802 arbwhore
arbwhore's picture

No fall rally in PMs this year.

Fri, 09/11/2015 - 11:40 | 6536168 Dickweed Wang
Dickweed Wang's picture

No fall rally in PMs this year.

I wouldn't bet on that if I was you . . .

Fri, 09/11/2015 - 11:45 | 6536191 agstacks
agstacks's picture

I don't think we'll ever see another rally in this gold "market". Not in the sense we're used to. The market will break then we'll have a period where people are clueless as to what it's worth. Then it will overshoot and my plan is to trade phyz for land. Curious what the gold/acre ratio will be.

Fri, 09/11/2015 - 10:39 | 6535832 larry david
larry david's picture

Sucks a bit for me as I just bought some yesterday. Oh well, I'm gonna be buying again next week regardless of paper price (if I can find what I want in stock!). Burn baby burn...moar phyzz for me, bitchez!

Fri, 09/11/2015 - 10:43 | 6535850 BeaverCream
BeaverCream's picture

The "my holdings" portion of apmex makes me cringe a bit but they're pricing my gold in toilet paper so I don't really care.  Buy some more, what else are you gonna spend it on?  Stocks? Real Estates?  This whole fuckin thing is coming down, the fact that fake PM paper is tied to the spot price of gold is a benefit at the moment.

Fri, 09/11/2015 - 10:41 | 6535841 random999
random999's picture

Couldnt care less. For sure having phys gold is not more dangerous than having phys Euros or Dollars.

Which are all less dangerous than having them in a bank.

Does it mean I will try to hoard as much gold as possible? No.

If you dont have any gold, get some. If you feel u have too little, buy a little more.

Selling all stocks and deplete your bankaccount for some yellow metal because of price manipulation, rumors and something you read on internet? I never liked the all in mentality.

For me; I have some gold, silver, platinum as backup in addition to realestate, weaponry, foods and stocks.Maybe it will come handy some day very soon but who knows? The leftover cash/deposits I'll use to enjoy life as long as its still worth something.

Life's ticking, dont hope to get rich by buying lots of gold. If the game is rigged (as it is), you most likely wont.

Fri, 09/11/2015 - 10:48 | 6535874 Smuckers
Smuckers's picture

Wow it's clear nobody wants this barbaric stuff, so thus no reason to ever confiscate it? 

 

/sarc

Fri, 09/11/2015 - 10:48 | 6535877 ramgold2206
ramgold2206's picture

I think every ZH reader knows about the Comex and Paper EFT farce for years now and most have taken steps to protect themselves in that regard. However in general the public have no idea about the fraud or what it means to them and most dont care.  

 

I've been spending the last year trying to educate anyone who would listen to me about the fraud of the paper markets and the need for them to own physical AU. Most evenings I had 3 or 4 half interested, but mostly bored souls show up for a half hour then piss of home to watch TV.

 

 HOWEVER there has been significant shift during the summer, we did a record month on gold sales with the 5gram unit selling out the door. Moreover, I gave two lectures this week; on Wednesday night I had about 20 show up and pay attention, Last night I had over 50 people, all wanting to understand more and find out how to acquire physical bullion. Interesting times we live in.

 

 

 

www.teamramgold.com/about-us

Fri, 09/11/2015 - 10:56 | 6535930 Omega_Man
Omega_Man's picture

I was promised $10,000 gold!!! Who do we sue????
Where is my Shemitah??

More lies and deceit

Fri, 09/11/2015 - 13:44 | 6536740 Global Douche
Global Douche's picture

Shemitah hasn't arrived...yet. I'm ready to take a front row seat as the Fat Lady is readying for her stage performance.

Fri, 09/11/2015 - 10:58 | 6535941 quasi_verbatim
quasi_verbatim's picture

I cannot understand how ZH can report one day that there is next to no physical in the warehouses and the following day refer without incredulity to these paper and digital fantasy markets as 'Gold' and 'Silver'. One hundred and fifty years and more of historical futures trading across the commodity space indicates emphatically that they are nothing to do with physical gold and silver. You might as well label them Abbot & Costello, or yellow and white pet relics, or barbarous rocks, choose your color.

Futures without the certainty of physical delivery is shysterism and these two metals should never have been allowed futures markets. There is nothing 'precious' about paper and digital redeemable only with more paper and digital.

Fri, 09/11/2015 - 10:59 | 6535953 Omega_Man
Omega_Man's picture

futures market is fraud

Fri, 09/11/2015 - 11:35 | 6536145 Dickweed Wang
Dickweed Wang's picture

One hundred and fifty years and more of historical futures trading across the commodity space indicates emphatically that they are nothing to do with physical gold and silver.

Absolutely!!  When are those clowns going to realize that every time they crush the price of paper gold and silver that it just drives up physical demand to the nth degree? As far as the separation of the price of paper and physical PM's just look at the premiums being asked for 1 oz silver eagles lately.  Last time I checked dealers are asking for 25-30% over the spot price for those coins.  In many cases you have to also wait for 4-6 weeks for delivery. Take the price of silver down to $5/oz!!! We'll all buy buy buy - if it's available.  The price sure won't hold there when the shit hits the fan . . .

Fri, 09/11/2015 - 11:47 | 6536206 RaceToTheBottom
RaceToTheBottom's picture

Should we not be seeing Premiums for kilo gold increasing?  Especially as Kilo gold is becoming the investment vehicle for larger players?

I am seeing 2% premiums for kilo gold.  Not sure about delivery times.

http://goldprice.org/gold-prices/Gold-Bars.htm

Fri, 09/11/2015 - 12:16 | 6536349 cpnscarlet
cpnscarlet's picture

The financialization/securitization of precious metals is one of the greatest "victories" ever for oligarchs/central bankers. But as long as there is a balancing force like China, it won't last forever.

Fri, 09/11/2015 - 13:24 | 6536661 Cherubim
Cherubim's picture

Looked on APMEX last night. All Silver 10 oz bars from either Sunshine, Mathay, and even APMEX themselves were either out of stock or had a supply date at the end of the month. There is a silver shortage, my friends, and yet the price falls. How long can this go on?

Fri, 09/11/2015 - 13:31 | 6536697 Global Douche
Global Douche's picture

However, it gives those of us with eyes to see and a functional cranium, such incredible GIFTS! Also, I'm not even concerned with the continued fall of the phyzz price for now as that is very likely a short-term deal, especially in silver where the production price is for the most part - higher than the manipulated paper price. I use money which I'm not borrowing, nor that I even miss in these phyzz purchases. 

These powerful interests should realize by now that shorts have to be covered, and the taxpayers won't be so forgiving this time when they're kicked out of their homes and living under the bridge. It's been too easy when you have governments and their useful lackey bureaucrats willingly turn a blind eye. The Market will suckerpunch them at an very inopportune moment, then the jig will be up. It's a matter of when the right Black Swan lands.

Fri, 09/11/2015 - 11:01 | 6535968 scatterbrains
scatterbrains's picture

First you have to get your head around the idea that our controllers already know that the dollar is toast, that the financial system is a ponzi, that  there is no saving it. That being the case they are taking advantage while they can to drive the metals down via there worthless fiat in an effort to accumulate as much physical precious as they can before the game ends. Who knows how low gold will go ?  It boils down to how long the market accepts there desperate scheme.  The thing to do is dollar cost average your way down and take possession of physical while you can.

Fri, 09/11/2015 - 11:18 | 6536044 Edinburgh Eddy
Edinburgh Eddy's picture

Question: what is the risk that Gold falls to the price lows during 2008, into the $700's? As I predicted the Gold Failure for this Autumn, and as we break below $1100 again, it would only take another 30% decline. Also, that 2008 still stands as a kind of major inflection point for the entire gold bull market. If I was looking to own gold and I wanted to see an end to this bear market in gold--I would look to those 2008 levels. 

EE

Fri, 09/11/2015 - 11:22 | 6536073 jomama
jomama's picture

Shocked, I tell you.

Fri, 09/11/2015 - 11:27 | 6536098 RealityCheque
RealityCheque's picture

Funny isn't it, they hit the price but I never feel like selling.....

Fri, 09/11/2015 - 12:18 | 6536362 sandiegoman
sandiegoman's picture

how many times are we going to hear "its a great buying opportunity"; youve been saying that since it was $1500. get real, it sucks to be on the wrong side of the trade. Admit it, you and I have no "insider" knowledge.  The only difference is that I know that and you don't. Nobody here can predict where gold is going next. 

Fri, 09/11/2015 - 14:52 | 6537083 KingOfMilwaukee
KingOfMilwaukee's picture

$925 here we come.

Fri, 09/11/2015 - 21:17 | 6538322 iamtheeggman wh...
iamtheeggman whooooooooooooo's picture

Blatant manipulation. No problemo.

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