Precious Metals Puke - 'Someone' Dumps $2 Billion Of Gold Into Futures Markets

Tyler Durden's picture

What goes up... must not be allowed to...

Someone just decided this was the perfect time to dump over $2 billion worth of notional paper gold onto the markets...

 

Over 16,000 gold contracts (and 7,500 silver) were dumped in that 5/10 minutes segment.

It appears Draghi did not like the impression of his impotence that precious metals were suggesting.

It appears the Gold/Silver ratio at 72x was a big buying opportunity?

 

As the longer-term trendline holds support...

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NoDebt's picture

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

BaBaBouy's picture

Want The Answer ... Check The Cotts "COMMERCIALS" ...

http://www.cftc.gov/dea/futures/deacmxsf.htm

zeronetwork's picture

This fucken unlimited paper gold needs to burn.

Manthong's picture

The Russians and Chinese are loving it.

MillionDollarBonus_'s picture

Can't say I didn't warn you. The great precious metals bubble popped long ago, and this may have been the final dead cat bounce before the plunge that truly destroys what remains of the gold and silver bugs. And all this while stocks are poised to make new all time highs! What a tragedy for those who refused to listen to reason and evidence!

IN DEFENSE OF HILLARY
Manthong's picture

Audit the Fed?

How about audit the BIS?

Bastiat's picture

The headline is bullshit.  Puking is internal, means you're sick. Puking is part of a healing process.  PMs didn't puke, they were mugged.

zeropain's picture

yah, it could'nt be the insane overbought condition brought by fear of printing that did not materialize in 2016

Money Counterfeiter's picture
Money Counterfeiter (not verified) Max Hunter Apr 21, 2016 9:04 AM

Muduro cashed out.  Leaving Caracas soon.  Goldmas Sachs to follow.

Save_America1st's picture

POSX dollar index in a waterfall too alongside gold and silver...nope...no manipulation in PM's there.  As if PM's are supposed to follow the dollar in parallel ever...

Manthong's picture

It must be getting pretty serious..

They could not wait until 3 a.m..

Save_America1st's picture

China controls that time slot pretty well now that the SGE is online.  It's gonna get real fun from here on out!

semperfi's picture

we are witnessing history boys - the last gasps of the paper pushers before their excrutiating death event

nope-1004's picture

Title of the post should be renamed to:

 

Health of the Federal Reserve system just puked as the barometer (gold) was indicating weakness - 'Someone' Dumps $2 Billion Of Gold Into Futures Markets

These obviously aren't precious metals.  Rigged, decaying monetary systems tend to react this way.


Squid-puppets a-go-go's picture

This particular  'fiduciary dutiless' dump methinks is a test: to see if shanghai will follow them down or diverge

ilion's picture

I guess the drop in Gold price was all based on deep technical and fundamental analysis, I mean what else could be behind such a move:
https://web.facebook.com/vipro.markets/photos/a.977426302318291.10737418...

aPlayer's picture

Vipro Markets prop traders highlighted today that there is a very strong physical of Gold from China and it has lately become one of the most popular trading instruments amont Chinese FX traders. At Vipro they get 1:250 leverage on Gold so a lot of stuff can be done if risks are managed properly.

pmbug's picture

You idiot! Get back in there and sell! Sell! Sell! /Mortimer Duke

Rabbi Chaim Cohen's picture

Naw, they just still think that no one is watching.

DeadFred's picture

Mark it on your calenders, this is the day they lose it. This puke will be gone by end of day and prices will truly explode after that.

zeropain's picture

Bet it is china selling to raise the dollar. 

EscapeKey's picture

didn't make equities dump. are you suggesting that equities (and bonds) aren't insanely overbought at present levels?

S&P500 P/E @ 24.30. seriously above long term averages.

http://www.multpl.com/ 

GRDguy's picture

Pump AAPL, punch Gold. Can't have 300+ financial institutions with AAPL as their #1 holding go down. Check charts.

chubbar's picture

There is currently 112% of annual silver mining supply paper promises sold to speculators. No one who sold those promises was required to have the actual silver in their possession in order to sell their paper promise. There is no way to have proper price discovery while this mechanism to suppress prices is operating. Imagine what the price of silver would be if they could only sell what they could deliver? I hope the Shanghai exchange bankrupts these fuckers through arbitrage and quickly!

Bastiat's picture

Death by a thousand deliveries.

lunaticfringe's picture

Arbitrage these mf'ers. Can't wait.

sapioplex's picture

Death by one influential non-delivery.

cheech_wizard's picture

Hypothetically, if I were to kill 20 of the highest ranked bankers in the United States, would I be eligible to replace Andrew Jackson on the twenty dollar bill?

Standard Disclaimer: Deadpool: Time to make the chimi-fucking-changas!

Yukon Cornholius's picture

I gues, maybe. Do you look like uncle Ben?

Ivanka2032's picture
Ivanka2032 (not verified) Yukon Cornholius Apr 21, 2016 10:38 AM

Aunt Jemimah, Uncle Ben. WTF?. It's time to take a closer look at what my grandparents were up to.

Herodotus's picture

How about putting Fagin or Shylock on the $20 bill?  Or perhaps one of those more sinister images of that type that Dr. Goebbels used?

MajorFall's picture

Audit the Fed?

How about audit the BIS?

How about the IRS?

DeadFred's picture

Dude, you do NOT want to know what's in the BIS! You would never sleep again at night if you found out.

seek's picture

There's not enough nailguns to support a BIS audit.

Squid-puppets a-go-go's picture

lol even with zirp induced overproduction of manufactured items

Ghordius's picture

Manthong wrote: "Audit the Fed? How about audit the BIS?" wrong approach

first, the BIS does get it's audits. it's the FED that is not audited

second, the right approach would be to ask the FED to exit that club of CBs. that would in the power of the US Congress to do that

Bastiat's picture

Make the Fed buy up as much UST paper a possible, then cancel the debt.

Consuelo's picture

The least known of the bunch:

 

The Exchange Stabilzation Fund (in concert with the dept. of Treasury, and select bullion banks, of course)

backwaterdogs's picture

Oh idk....I'll give mdb a 6.5 on this one mainly for style by being able to work the case for Hillary into aubject.  golf clap for mdb

 

 

 

 

 

 

 

 

 

 

 

BeaverCream's picture

I haven't read any of your posts in years.  You're not being a very good troll by clinging to a single identity that everyone ignores already.

Twox2's picture

The shtick got old a long time ago.  Most would have let it go.

B.F. Skinner would suggest via his operant conditioning theory that intermittent rewarding of the posting via comments and votes, up or down, reinforces the attention seeking behaviors.

No comments, no votes, no problem.  An echo chamber of one...

Craptain Pimpcrash's picture

 

 

 

NO MORE BUSH's

 

NO MORE CLINTONS

xavi1951's picture

Well that takes the cake.  You have NOT been sarcastic, you really are suffering from a mental illness.  Liberalism.

Haraklus's picture

I do not see how you can't smell the satire.

SilverDOG's picture

MDB man you are the One.

The only poised position going higher, is the crack pipe to your lips.

Y'all come back now y'hear... from rehab.

ha !