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Gold Mini Flash-Crashes At Asian Open
Someone decided that the exact opening of Gold futures trading on a Sunday night - ahead of a holiday week in the US - was the perfect time to liquidate over $161 million notional of 'paper' precious metals contracts... Currencies were unmoved, stocks are leaking higher and bonds lower.
Admittedly the flush was modest in size (around a 0.5% drop and pop) but we are sure whover this gold-seller's fiduciary duty is owed to will not mind at all...
1500 or so contracts liquidated instantly... makes perfect sense.
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Make sure you have sell stops on your GLD shorts. This could get wild depending on what the fed does tomorrow in their surprise meeting...
I would say by looking at the selling and buying action some is letting go of a lot of contracts carefully...
Fed hikes interest rates ... gold goes down.
Fed keeps interest rates... gold goes down.
Fed lowers interest rates... gold goes down.
Its all rigged!
Gold will go up when JPM and GS have taken it as low as it can go for as long as it can go. At that point in time they will be massively positioned and extremely leveraged to take advatage of the upside. It's just that simple
Never let a good crisis go to waste.
Especially when you've spent so much time creating it...
I think this means I can buy Au & Ag at bottom dollah before Nirp.
Bring it on.
No stops needed. You can just beg for the margin call on Go Fund Me.
At some point the inventory of Ag & Au available for sale dries up and only those wanting to hold it will have it.
That will be an interesting day.
True valuation never appears until reality intervenes.
If you trust promises then buy Stocks and ingnore tangibles.
BTW - if your 401K holder tells you it is "fully vetted" that means "quick sand"
The price of a Gold Futures Contract will realize the true intrinsic value of ZERO.
You need to be celebrating these declines as you have an opportunity to get Free Gold during the decline.
In fact the more that the price of a Paper Contract declines the more free Gold you will be able to get.
Short Paper/Long Physical from Paper Profits keeping initial Capital Intact and reinvested on the short side.. It is that simple.
Donot forget about Uncle Scam and pay those Capital Gains taxes to keep the IRS Terrorists off of your doorstep.
FOFOA is correct. They will overproduce the contracts until the contracts themselves are valueless when they have no more Physical for delivery. The price declines to ZERO as a result.
Yes it's all rigged.
As a matter of fact without the rigging there wouldn't even be a market. Actually the more I think about it... the rigging IS the market.
The problem facing the world isn't inflation, it's DEFLATION. Makes no sense to own gold amidst a deflationary spiral.
Actually gold performs quite well in deflations, because in a fiat system, risk skyrockets in deflationary periods and gold is the low-risk investment during those periods. And of course, gold does pretty good during inflation as well..
The "good" (/s) news is we're about to get a whole bunch of both.
Hi MD,
That maxim applied in a "rational" market. This is not a rational market.
Spoctor Din
Well the deflation will be dealt with by massive printing and a probable overshoot to hyperinflation. Then the deflation sets in for sure. When the stuff you have is worth less you will need to barter something desirable - something that cannot be debased easily. That would be gold and that is when gold will SHINE.
Keep stacking.
Yes but this is what people were saying in 2009 when the Fed started printing money like crazy. It's pretty clear that, since then, deflationary forces have been stronger than inflationary ones.
"Fed started printing money like crazy" = lower PM prices
Yup, makes perfect sense to me.
It makes perfect sense to own something of value when it is being given away for free.
Short paper and long Physical.
Since we are headed into a Deflationary Period (I do agree that we are) then one can take his capital and short the Paper Contracts as the price is all but guaranteed to decline in a Deflation.
Taking the Cash Profits then one pays the Capital Gains Tax pronto. (You do not want trouble with the terrorist group IRS. They are much worse, far, far worse than ISIS can ever dream of being.)
Take the net and buy Physical Gold, keeping your original nestegg shorting Gold.
You still have your principal and your profits are FREE.
Deflations do not last forever and they do precede those nasty Hyperinflations. So your insurance stack exists, is added to, and it costs you nothing to pay for that cheap insurance.
Do you understand that you are actually making an argument FOR owning Gold?
I mean if they are giving it away, and they are, then why not take it?
You are foolish not to take it.
Everytime Japanese Yen or Euro loses value against US dollar, Gold is pushed down, someone is selling gold to make sure that value of gold decrease more than Euro or Yen, probably they are doing this to stop people buying gold when their savings in Euro or Yen loses against US dollar.. Its my humble observation..
The last thing TPTB will ever want to see is the loss of confidence in fiat and a rush to gold.
Its all rigged!
Gold=Real Money. US$ not real money per se = printed paper in which people put their faith. Hence, manipulation of gold to keep it down. That's what happens When Money itself is the Problem >> http://wp.me/p4OZ4v-2GY
From the Committee minutes:
"Later Mr. Untermyer touched upon the basis of money control.
“Thecontrol of credit involves the control of money, does it not?” he asked.
“No,” said Mr. Morgan. “What I call money is the basis of banking.”
“But the basis of banking is credit, is it not?”
“Not always,” said the witness. “That is an evidence of banking, but it is not the money itself. The money is gold, and nothing else.”
More, I found this interesting:
http://www.barrypopik.com/index.php/new_york_city/entry/gold_is_money_an...
That famous J.P. Morgan (mis)quote:
“Gold is Money. Everything Else is Credit.”
was "adopted" from JPM's
"Money is gold, and nothing else.”
But it's backed by the full faith and credit of the United States!!!!!
It is frick'in obvious that anybody with half a brain can see this set-up!
Ok, I'll play along, I will load up on phyz and ride it all the way down, adding accordingly as those opportunities present themselves.
Tsk, Tsk, fool me once shame on you, but fool me twice, shame on me...
Idiots.
Trying to wrap my head around why the Fed would consider fucking with things a 3 days before Thanksgiving if they do raise the, famous black Fridays sales numbers will be in the shitter and Nirp will be the next step. Maybe that;s what they are hoping for? Just doesn't make any rational sense?
Peace must be breaking out for gold to crash. People selling gold to go on a Paris or Brussels vacation?
US Diplomacy Expert Names Five Conflicts That Could Trigger World War III http://sputniknews.com/world/20151122/1030530702/us-diplomacy-conflicts-trigger-world-war.html …
Yeah because who wants gold? It doesn't have a dividend, earn interest, or revenue, it doesn't have any growth potential, and it just sits there, like a lump of coal.
WOuldn't you rather have a piece of paper that promises to pay you at some point in time?
Trust the bankers - they never lie!
I always take my IRS tax return, and buy physical gold and stack it next to my lead & steel.
You let them borrow money you've earned interest free? ;-)
Oh, I don't know. I'm interested in it, less so the lead aspect.
Paper.
Looks like the 1-3min VIX chart half an hour after London[European markets] close, during normal{caugh*caugh*} trading.
So much faith in fiat debt issuance, it's quite astounding really, considering four year degrees are waiting tables. Shouldn't be a problem paying the debts incurred back to the Treasury through taxation at all.
Nope, not a bit ;-)
Gold is not the only thing crashing...
New record November snowfall in Chicago... biggest in 120 years!
http://www.chicagotribune.com/news/local/breaking/ct-chicago-winter-weat...
If that doesn't spell GLOBAL WARMING nothing does... (but to be fair they said that snow would be a rare and exciting event in winter not fall.)
Look...if the mainstream wakes up and relizes there is no global warming, their not going to have something to be afraid of. Besides...they will feel bad if they can't pay the carbon tax to feel better about themselves.
Oh Noes!
It's the weather. Too hot, too cold, El Nino, La Nina, rain, drought, blah blah blah.
It's the Sunspots, man! There are no sunspots!
"Mr President, sunspots have vanished."
"What exactly does that mean, Professor?"
"Well, as you can see, I am all geared up in arctic ECWCS."
"Shit. Turn up the thermostat, Reggie! Quick!"
"I did, Munchkins, it's not working!"
"Damn. You and I will have to snuggle with the Wookie tonight."
"She snores. And steals the blankets. Get some of that ECWCS stuff the professor is wearing."
Solar activity has been down in the dumps since SC23.
Same for every major historic cooling event since the last ice age.
Not that it could possibly mean anything to a 'climate scientist' you understand...
The guy that dumped all those Gold paper contracts was desperate to get out of paper gold. I wonder what spooked him? Perhaps he was afraid the paper gold was not convertible to the real thing.
What spooks them every month? Nothing, its just a game to buy Bullion cheaper as the economy crashes in the background!
What spooked them? Gold > 0$.
If gold does do a dump tomorrow...resistance is at 1048-52. Then sell the GLD.
I doubt anyone here buys or holds the fraud ridden GLD. Most ZHers prefer real metal in their hands.
Gold the perfect Christmas Present.....
and Silver sparkles under the tree and in Candle light..
Sell gold and Vol before the shit really hits the fan.... Makes perfect sense if you are standing on your head, and its sandy, and the sand is very deep and your head is very pointed and sharp.
They're just trying to set the gold tone for the Fed meeting. Feds look stupid if gold rises during their televised spots. Whenever there's such nonsense in gold, I know the paper promises folks are in big trouble. Especially desperate to keep muppet money in play.
"Feds look stupid".... Nuff said.
When it drops below $600 an ounce I will start buying some - so that would be the middle of January or Early February.
:-)
CoT is poised for a turn. Full moon on the 25th. Boing!
Black Friday pre-sale!
But, hey, go to your LCS or the good on-line guys. It is a different story for Fizz.
Gold, Bitches!
No shit the money men do not wish a asset other than money to perform well.
L I'll b
Yawwn,happens every sunday evening like clockwork when the trading is most vulnarable,since when is this news? dollar is due for a haircut after the Dec rate hike(if it happens) the massive dollar long positions will take their profits. if no rate hike,look out below for the $,either way gold will get bid up. if it goes the other way i'm looking forward to 800.00,mines will be shutting down and we will have a once in a lifetime opportunity to invest in the ONLY true currency. stack on and trust your intuition!
Of course it fell. Mr Yellen called an unscheduled BoG meeting for tomorrow. Can't have the lumpenproles eyeing the lifeboats can we?
https://www.youtube.com/watch?v=B2nCugGQZO0
Vegas has the odds for the fed NOT raising rates in December to 5 to 1.
Fed meeting Monday is to discuss what they would do if a major false flag were to occur (hint, hint) and how the Fed would respond.
Thanksgiving is NOT a Jewish holiday. It is not historic to Black Lives Matter. Since we go buffaloed by 9/11, Sandy Hook and the Boston Marathon a few more lives won't matter.
Oh yeah. No Fed Rate hike because of the false flag.