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Gold & Silver Pumped-n'-Dumped After China Data
Some initial weakness in precious metals after China reported its data last night gave way to a very narro wrang trade until the US morning began to going. At the ubiquitous 8amET witching hour, Gold (and silver) ramped notably (on modest volume) as crude and copper lost ground... but as soon as US markets opened, the precious metals mashing began and both silver and gold are back below China GDP levels (with both breaking back below their 200DMA)
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Tick, tock mofos
It is impossible to have fair price discovery in a manipulated market, where unlimited naked shorting is allowed. Thank God that one day China via physical delivery will put paid to the USSA fraudulent schemes to prop up the Fed Reserve Notes System.
Destroy the Fed!
Yes... one day.
I'm beginning to believe gold and silver will never go anywhere without a hyperinflation Max Mad scenario. If armed gangs ever rule the freeways robbing and killing everyone for food and fuel then the metal prices will spike. Until then expect nothin' less than massive amounts of blind naked shorts and capped prices using fiat currency printed out of thin air. Enjoy the ride!
The outflow of physical will bring the party to an end sooner than that. Fighting market physical supply/demand imbalance is hugely costly. Physical gold reserve depletion and rehypothecation can only go on for so long.
This isn't price discovery, but an Easter egg hunt using live hand grenades and I just pity the sheep holding it when it goes off......
Gold has found it's price, didn't you know digital gold, gold 2.0, or bitcoin, is the way forward?
I decided to emulate bitcoin, but need help doing so. http://zhc0.com - Zero Hedge Coin 0. Type of help needed: choosing a coin. Scrypt/Sha/non-proof-of-work?... it's all a bit much for one person to decide dictator style.
Where are the Pump and Dump investigators?
Well the SEC is having a fap-a-thon right now, so they're kinda busy.....
Busy investigating bitcoin pump and dump scams.
15horses1donkey. I think if you keep pimping this idea on Zero Hedge as a cryptocurrency, I am gonna have to track you down, and bitch slap you into the middle of next week for being a pimp ass bankster schill bitcoin wannabe rat bastard motherfucker. IF ZERO HEDGE HAD A FUCKING CURRENCY OF IT'S OWN, IT WOULD BE MINTED IN INCORRUPTABLE NON HYPOTHECATED NON DERIVATIVE NON MARGIN ABLE SILVER OR GOLD. Get your shit together, and change your direction while you still have an ass to kick. Jesus, fucking kids these days. You all think technology is a miracle. All it is is electrons that can be made to go poof any fucking minute now. if i blew up your phone right now, you would look like a cow at the slaughterhouse just at the moment the bolt gun goes off - " How could you do this to me ? What'll I do now ? " Improvise. Adapt. Overcome. Triumph over adversity. And, transform your idea into minting a fucking coin out of noble metals, or I will make you look like a one legged man at a nut kicking contest.
If you Actually believed your own hyperbole you would be happy that somebody was manipulating the price to give you such a great deal and you also wouldn't tell a soul.
"hey Joe!, I was dirty bastards at the gas station down the street are manipulating the price of gas too low! They're selling it at $.50 a gallon! Tell everybody you know before I get there to fill up my gas tank!" LOL
For sure, which is why I'm buying physical, bit by bit.
DavidC
You would be right if the mainstream listened to us. But they ignore us. The mainstream has been heavily propagandized into not recognizing the system for what it is and how it works. Thus we remain invisible to others even though in plain sight, jumping up and down shouting the truth. Kinda nifty actually.
Moreover as a tiny minority unable to impact the supply of physical from just our own buying, we can relax and pump gold buying amongst ourselves without causing a market shortage of gold or spike in its price.
Many of us are happy about the price manipulation. I'm actively cheering for more, want to see at least $950-$1050 so I can really load up on subsidized gold. One just has to have a long term investment horizon for wanting to redeem the gold, and not everyone does, which is why some people here are bitching
CoT points down for now. One day Comex trading won't be setting price... one day.
why u keep doin' dat
Sold -- to you..
(Or me)
WTF Laughable !!!!!!!!! Would this happen in a purely physical market,with true price discovery none would be for sale.
Smoke and mirrors.
$20 rises that take 72 hours to climb are able to disappear in 72 nanoseconds. It's disgusting !!!
It's OK. We're all used to it by now.
This is going to end up about as well as their ME policies . Its always painful to have dumb asses in charge of you...
Lacker's speech cancelled due to illness. There is a God after all.
Why would the price of gold and silver be correct when the price of stocks is fake? It's ALL fake. Until it's real.
So, you're saying that gold and silver are just as overvalued as stocks.....
No, i say the stock of gold and silver is undervalued.
There's absolutely no basis for gold being overvalued. There's 2,400 tonnes of new gold added to the supply every year. That's 24,000 TONNES over a 10 year period. Only 12% of gold is used industrially and a reasonable percentage of that is recovered.
Yet somehow all the bugs get all excited and claim conspiracy when someone trades/dumps a couple hundred tonnes and the price drops by $25?
Global production is 200 Tonnes a MONTH, so yeah, you will see gold being "dumped" into the markets, EVERY MONTH.
Some of that paper gold people keep thinking is just a massive conspiracy is just mines hedging their own production. Barrick alone produces over 200 tonnes a year, that's 17 tonnes a month, and they ARE hedging their production, just like all the other major miners.
Annual gold supply increases by 0.0016% each year. As for hedging sure this of course happens industry wide, but those trades net off and why then the sudden change in market behaviour in the last 4 or 5 years? You're going to need better disinformation than that if you're going to come onto ZH and tell people the gold market is legit. I'm actually really suprised your comment was unmolested until I came along. Anyway this is how it happens:
http://www.paulcraigroberts.org/2014/01/17/hows-whys-gold-price-manipula...
You are WRONG. You failed math. No wonder bugs are so dumb.
Annual gold supply, relative to everything every mined in the history of man (approx 165,000 tonnes), increases by 1.5% per year
But of available gold, meaning gold that's acually in circulation or known storage, the percentage is closer to 3% 5%,
Why the change in behaviour the last few year? The herd effect, everyone thinks gold is an "investment", plus all that "free" QE money combined with zero interest rates.
As soon as interest rates rise, gold will be under $1,000.
Unlike fiat, gold can't be printed at whim only mined with great effort.
Gold money that increases in quantity by 1.5% a year will nevertheless signifigantly increase in value as productivity gains from technology and innovation are much higher than 1.5%. If the dollar were only printed 1.5% a year instead of 50%+ per year, it would behave the same.
As holders and users of gold as money, we care about the size of the money supply and the size of the body of goods & services it can be exchanged for. The ratio between the two is what matters to us.
It only hurts for a little while.
Thanks again asshole fucking Wall St. MoneyChanger fucks.....
M O R E 4 ME.......
p.s - Fuck u London.....
You're welcome
-The Tribe.
What else is new?
It's Monday.
excellent...time to do some more PM shopping
Fuck you Blankcrap and Jaime -- both you cancer infused fucks please die already
You have cheated and manipluted and stole from the little guy long enough.'
I piss on your graves.
Paper gold was short term overbought and stocks were weak and it is Monday morning, so one might easily have suspected that "they" would buy stocks and dump on the gold and, sure enough, that happened. Means absolutely nothing unless you like to play dice. Buy the dips, avoid leveraged positions and hold physical for the long term. Just my two cents...
Another most bearish Coil-Breakout-Reversal in Ag possibly pointing to 14.80, and then to a 13 handle. Stacking cash to buy Ag lower, as world export trade collapses, is likely still working. Watch the 5 hour:
http://www.investing.com/commodities/silver-advanced-chart
The atoms in the physical metal persist. Fiat Currencies and paper asset delusions continue to lose credibility daily.
Stack the weight. Market rigged price manipulations mean nothing.
These are investments ????