Despite Dollar Dump, Gold Just Got Slammed By $3 Billion Notional Sale

Tyler Durden's picture

While the dollar index tumbles to its lowest level since days after the election...


Someone decided this morning was an opportune time to dump over 22,000 gold futures contracts (almost $3 billion notional) sparking a quick plunge in the precious metal...


Well that didn't last long...

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Budnacho's picture


VD's picture

the only dip truly worth buying. (at over 50% off!)

TahoeBilly2012's picture

Looks picture perfect chart forming, A B C drop back to $1250 or so and that's it, up we go in powerful wave 3!! Maybe another week or! Wave 3 looks set to blast through $1400 and then we get another monthly retrace before THE move higher to old highs by fall.

DeadFred's picture

So long you think? It looks like they might be losing it sooner than that unless they have another wave or two of selling coming today. 

manofthenorth's picture

$1300 gold and $18.50 silver certainly appear to be the current line in the sand.

yogibear's picture

The western central banks are concerned their ponzi may be revealed. So they will try pushing it down as much as they can.

Keyser's picture

Well, that didn't last long, already backfilled to $1288... The emperor has no cloths... 

ne-tiger's picture

Holy fuck, back up instantly.

NugginFuts's picture

something to do with NORK missiles I assume? Or was this a shift of positions so someone else could hold the bag?

Miners sold off in EU overnight.... usually a sell off in miners is a signal the dump is coming. And then it did. 

ne-tiger's picture

Miners are up/down like grasshopper: I'm holding firm, don't give a fuck.

NugginFuts's picture

Balls of steel? Nope. Silver balls. 

American Psycho's picture

Let's be honest, as gold approached 1300, we were all waiting for the monkey hammer to get pulled out.  We knew it would happen, just not sure when. 

froze25's picture

I went short Gold with DZZ yesterday morning. Time will tell if I made the right call.

Pairadimes's picture

It looks to me like it is becoming more difficult for TPTB to suppress gold prices. When they lose control over the price (i.e., demand at these below-value prices becomes too great) is when the shitshow starts to unravel. 

Gold...Bitches's picture

I don’t always sell $3 billion in gold, but when I do, I prefer to do it all at once in one big sell order that takes out the entire bid stack and ensures I do not get the best price

Keep stacking, my friends

fockewulf190's picture

Who ever was buying the dip sure as shit was waiting to pounce.

jaxville's picture

  That unraveling looks like it will be sooner rather than later.  Not a lot of gold in the retail pipeline but more than enough for current low demand here in the West.  Lots of calls coming in from potential newbies.  Typically that precedes increased gold sales.

  It would not take much of an increase in public demand to cause delivery times for retail product to go from days to months.  At some point those in the public who have invest-able assets will turn to gold (and silver).  I don't think any more than 5% of them will get through the door without serious grief. 

  The wave of public buying in 2007 saw delivery times from the US and Canadian mints go out over three months at one point.  Those kind of delays make buyers very nervous. 

  What shoe will drop causing the public to ignore the "better" advice of their bankers and financial planners and turn to specie?  How will Joe Average react when he goes to buy gold but no dealer is promising any less than six months delivery time?  Probably much higher premiums to boot.

ne-tiger's picture

if you are not dumb, miners are 2 classes: cde, hl, iag are way up for me, I also have couple of juniors mux/goro waiting to explode. I explain only if you can fucking understand.

NugginFuts's picture

hey guess what I trade miners too - the individual stocks, not just the ETFs. They are recovering now but didn't start out the day on good footing. Time will tell how they end the day in this heavily manipulated "market".

jerseychris's picture

Gold stocks lagging gold because of stock mkt but still not a good sign as they usually lead.

mosfet's picture

Same here.  Normally hold only ETF's like GDXJ & SIL but also have a good bit of GORO & HL cause their numbers are solid and potential way undervalued.

NoDebt's picture

Remember when they could do this much damage to the price of gold with only a $1 Billion trade?  We're winning, guys.  We're winning.  It's just taking half of freaking forever.


Mementoil's picture

Yep. CB's are losing control.

Hal n back's picture

how many entities can sell 2 billion worth period?

chubbar's picture

I guarantee that China and Russia know exactly what the little fucking traitors in the ESF are up to. When they (China/Russia) have accumulated enough they will drop the shoe on these fuckers. Right now it's looking like either the big money or a sovereign gov't is intent on letting these assholes expend their energy trying to drop the price but are backstopping that effort with concerted buying when this happens. I wouldn't be surprised to learn that this effort is what is driving the anti Russian agenda.

Eventually they will be cornered and defeated then China and Russia will pull the pants down on the dollar by causing Gold to shoot through the roof.

Bastiat's picture

Line in the sand ain't much when the wind blows or the tide comes in.

manofthenorth's picture

Agreed, just waiting on the river ;-)

william114085's picture



if the price of gold is being manipulated, wouldn't charts be useless (except for handicapping the manipulators actions)?

TahoeBilly2012's picture

No, manipulation only effects major price levels not waves which still exist in stunning detail.

2_legs_bahhhhhd's picture

since fundamentals no longer influence the gold price, painting the charts makes it easy for the CB's to steer the market in the direction that sheers the most sheep, while suppressing the price in their naked short, rehypothicated ponzi.

Notice how the 1280-1290 level is extreme resistance on the way up, but offers zero support on the way down.

It's a giant control fraud, there should be yellow police tape around the whole planet.

Perimetr's picture

Everyone knows the best way to sell a large position for a profit

Is to dump the entire thing in 15 minutes.

Wait . . . .

TahoeBilly2012's picture

In all fairness, charts do trigger selloffs by more than one player. I am not saying there isn't manipulation, just that fast herd selloffs do occur simply by chart levels.

Clint Liquor's picture

Yes, in all fairness. It really helps (as Deutsche Bank lawsuit showed) if you know where your clients stops are, so you can run them.

TahoeBilly2012's picture

Play it how you like bitchez, look for a B wave here towards $1295 then a washout down to $1270 or so...then blastoff!

Raffie's picture

Silver taking a bigger hit then gold.

Everything is RED today.

Keyser's picture

Silver is the real danger, gold is a distraction... 

Raffie's picture

Bix Weir talks why silver and not gold.


I been siding with silver for a while now, just taskes up so much more room then gold does. LOL


Global Douche's picture

And Dent continues to believe an oncoming depression will hammer these prices down further, yet he assumes nobody has any love for the metals, and in particular, nobody has any $$ to buy any more phyzz and is freaking out, running to the exits to dump their caches. 

If his cheap prices happen, I don't see it going on much longer than this bullshit event we've witnessed. It'll get even more ugly with silver, but the spring has so much twist already, I suspect it's ready to escape, soon!

Raffie's picture

I don't care for Dent to much.

Gold is back up around +$6oz, but silver still -$0.20.

The silver war is coming. When silver corrects to its real price will be amazing.

gn28's picture

Someone sold contracts, toilet paper futures? Ohh, then it must mean someone else was out of toilet paper.

This has nothing to do with the physical world.



ParkAveFlasher's picture

Surprise, bitchez! 

ParkAveFlasher's picture

Butchu ain't surprised, niggaz!

Took Red Pill's picture

its only paper. Normally a dollar drop makes gold go up but TPTB can't have that happening

chubbar's picture

Isn't it funny that when the dollar goes up and gold goes down the narrative quickly comes out in the press but when gold goes down along with the dollar, crickets. When we start seeing this kind of volatility I "THINK" it is indicative of this market getting ready to break. The fucking assholes in the US gov't really do take the cake on arrogance and stupidity.

GUS100CORRINA's picture

I don't know about everyone else, but I am SICK and TIRED of the MANIPULATION in the PM markets.

We have got to be getting really close to the end game in this charade. This CRAP has been going on for five years!

debtor of last resort's picture

A 3 billion morning dump should bring some relief for certain individuals.

Snaffew's picture

they are at CMG...each burrito sold is worth $1300 according to the market.

Raffie's picture

Really should be silver.

Silver should be around the $500oz range.

Think of how happy Mexico would be. They would be out there building the wall to keep illegal silver miners out of their country.