It's 7pm In New York, Do You Know Where Your Precious Metals Manipulators Are?

Tyler Durden's picture

It appears the machines have found a new pattern to follow...

Last night we pointed out the 'odd' - in the sense that nothing amazes us anymore, but still, behavior in precious metals futures markets.

At 1906ET last night, Silver futures flash-smashed higher, running the day's high-stops, before plunging back to earth...

Gold futures also followed suit tonight...


This would normally be shrugged off as just another example of the utter farce that global capital markets have become. However, a glance back in recent history at the silver market's most recent chaos moment - on July 6th - and a 'funny' thing stood out!!!

Gold also followed suit that night too...

h/t @TFMetals

At exactly 1906 ET on July 6th, Silver futures flash-crashed (some say over 10%, though many data feeds have been subsequently 'cleansed' of that sin), before normalizing.

*  *  *

And sure enough, tonight, at exactly 1906ET once again, 'someone' went to town on Silver & Gold futures...


And it even looks like the machines tried to front-run each other a little into the 1906ET mini-flash-crash

So, we ask again, what is it about 1906ET that sends the algos in overdrive? Or is it all just coincidence? Probably nothing, right?

It's now deja deja vu all over again...

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Eager Beaver's picture

That's "who" they are, not "where" they are. Right answer, wrong question. Gold, the most "stable" form of money for 5 years running.

HelluvaEngineer's picture

DC.  Manhattan.  Hollywood.  Pretty much any place controlled by Satan.  That's where they are.


MagicHandPuppet's picture

I used to hate the gold smashers.  Now I love them.

Smash it some more you cocksuckers.  I'm still buyin every month.

tmosley's picture

>Do you know where you precious metals manipulators are?

I'll tell you where they aren't--the crypto exchanges!

Peanutz would do well to embrace actual free markets.

medium giraffe's picture

honestly, enough with the crypto already.

where were all these breathless commenters years ago when we were discussing it right here on zh and some of us were having a go at mining?

where were you guys last year?

why now? because the meeja has picked it up?  lol, and we're the sheep?

why do you arrogantly think no one knows what it is or how it works?

do you realise how misplaced your arrogance is? how obvious it is that you've just jumped on board the hype train?

you're behind the curve.

talking of curves, where is crypto this curve do you think?:

medium giraffe's picture

wall st journal articles are the 'take-off' stage?  that ship sailed four years ago. 

tmosley's picture

I was talking about bitcoin in 2013, homie. In positive terms.

And no, I'm not going to stop. Not unless I find a convincing argument consisting of facts and logic convincing me that this is going away.

WTFUD's picture

If for nothing else, i like the way you embrace fight club!

tmosley's picture

Been here a long time. Argued for a system allowing for one on one debates similar to fight club. Didn't happen, sadly.

medium giraffe's picture

I'm all for getting away from central control, and crypto may have an increasing role to play in the future, but at this moment it's speculation mania.  Once all the greater fools have been wiped out and it reverts to its mean, maybe it will do some good in the world and actually start to live up to its promise.

But look at all of the 'experts' crawling out of the woodwork, people screaming about it in the press, the calls for $5000, cockiness of investors, this is all the typical behaviour you expect to see during a speculation bubble, as anyone who has seen one first hand can attest to.  Compare BTC/USD to Rodrigue's curve, it's practically the same chart. 

tmosley's picture

You can't tell a bubble where the product is called a new paradigm from a legitimate price increase based on a new paradigm. Charts look the same.

The "cockiness" is mostly toward the goldbugs, who have talked shit absolutely since day frucking one and have been completely and totally wrong the entire time, yet still refuse to even consider that they might be wrong. They just spew non-arguments, so eventually the winners get tired of it and just start shitting on them. When your dollar alternative of choice is floundering while the other one is soaring, despite all your shitting on it, insulting and wishing harm on those who adopted it the entire time...well, what goes around comes around.

medium giraffe's picture

well, appreciate your view, I suppose we shall see. unless of course shtf and the point is rendered moot.

Jimmy Jimmereeno's picture


I don't want to get into a pissing match because some of your accusations of "gold bugs" have merit - but that is only so depending on a specified time frame and a vehicle (gold bullion, gold futures, gold mining stocks,  gold ETF, and etc).

However, just because you've relatively recently gotten religion about crypto does not mean that you are able to refute the historical facts about gold or to logically refute the argument about gold's place in the economic environment of the future.

What follows is without doubt anecdotal and you may choose to reject its truth, but I have no reason to bullshit you.  A while back I was in Zurich, Switzerland and I visited an office of Swiss Bank to make  my first gold bullion purchase (at the time gold ownership by U.S. citizens - of which I am one - was prohibited by law).  I paid a price of USD 67 per ounce - that $67  is not a typographical error.  After concluding my business there, I strolled down the Bahnhofstrasse and stopped in a Rolex store.  With the spare cash that I had in pocket, I bought a Rolex stainless steel Datejust chronometer.  Until then the Timexes, Hamiltons and other U.S. made wristwatches would malfunction after I wore them for a while.

The years have gone by since then.  In that time I have bought many more ounces of gold and many other Rolexes - to say nothing about Porsches, Ferraris and boats.  But do you know what?  Those original ounces of gold and that original Rolex - that I still possess - are just as functional today as they were then.  Moreover, both original purchases  have required minimal storage and maintenance costs.  But the major consideration in this little tale is that both the original bullion and the Rolex are worth more now in nominal USD than I paid for them.

Only time is going to prove whether or not your views on the crypto currencies will have the validity that my experience with gold and physical assets has had.

Btw, this precious metals "manipulation" that ZH propagates is just so much old and unproved bullshit that is akin to superstitions that governed pre-industrial humans.


MrSteve's picture

My first encounter with crypto was on the back page of some computer journal; maybe it was Dr. Dobb's Journal or AI Magazine- it was along time ago. The crypto operation was called Zilchistani Moon, an orbiting satellite with unbreakable code that acted as a financial depository. It was named after a country, Zilchistan, that had no assets or worldly prospects, except this satellite. No nation messed with it because it had a special free account, called Legislator's Reserve which would dump all of a politician's or bureaucrat's data to the local tax man if they tried to cross up the Moon. The key to its operation was it had to have unbreakable encryption. The secret store of digital money meant there could be truly free people.

Seeing Mt. Gox  ( awhile ago) and "forks"  (now) makes me think we don't have "Moon"-class crypto here yet.

wet_nurse's picture

Block chain is great for what it does, transferring data. Speculating on bitcoin is not investing in block chain, it's playing at the casino. If you want to invest in block chain build a better platform or invest in blockchain infrastructure. There is a very logical arguement on why bitcoin will die out while another platform will be a preffered method of digital currency. Bitcoin has major draw backs in energy/time usage compared to others. It's only advantage is first to market. Bitcoin isn't even MySpace, its Friendster.

MrSteve's picture

some say it's like Beanie Babies!!!

Eager Beaver's picture

Apparently you are NOT one of the assholes who keeps showing up in every single crypto thread, trolling those of us trying to have conversations about cryptos where they're appropriate, in the crypto articles. So, you may be unaware that instead of being able to have said conversation, a bunch of ignorant fucks keep keep showing up to tell everyone how deluded they are to even think about them. So, we're just going to troll and fight with each other, if I were you, I'd expect some spillover for the foreseeable future, until people learn how to interact like adults.

dicksburnt's picture

when the judefetzen is finally taken away from the Tribe, then GOLD, real money/sound money, will once again rule the world.

WTFUD's picture

You're probably right but i might not get their with you, to the promised land, that is.

tmosley's picture

It requires trust. In a world that has just been badly, BADLY burned buy misplaced trust, no-one is going to trust that your paper is backed by gold, nor are they going to trust that your coins aren't salted with tungsten, or are actually just lead.

No, crypto will rule. It is too easy and trustless. People won't be able to resist it.

sinbad2's picture

NO, gold doesn't require trust, you either have it, or you don't.

All the other mediums, including crypto currencies require trust, I don't trust anyone, when it comes to money.

strannick's picture

Nor should we trust that Cryptos all important..essential encryption isnt crackable or even already laid bare by .Gov. Tungsten is simple to discover in Au. Lead in Ag isnt even worthy of comment . Blythe Masters was a big fangirl of Crptos in 2015..just prior to Banks endorsing Eherthym in Dec 2016..when it was at $8... Grow up Tmosley


tmosley's picture

Simple? Debateable. But you sure as fuck don't want to have to train your minimum wage morons to do it in a hurry while trying to check people out at the store.

Crypto works a lot better as a replacement for POS systems.

c2nnib2l's picture

where is your 10 K bitcoin ? widely used by everybody lol

EHM's picture

Nothing to see here.

medium giraffe's picture

dumping a shitload in asian morning again maybe

Ricki13th's picture

Dollar is hemorrhaging but Gold isn't over 1300 yet. 

Silver Savior's picture

But why try to value gold in dollars that won't be a currency much longer?

Cashboy's picture

I would argue that the US Dollar will be one of the last currencies to die.

It is the reserve currency and the currency you generally opt for and convert your local currency to when there are political or economic problems in your own country as it is accepted everywhere still.

jharry's picture

The dollar is energy based. Energy is cheap now.  Wait til oil hits 100 dollars a barrel again, if ever. PMs will increase in value.

Give Me Some Truth's picture

They don't like gold and silver. They really don't.

Silver Savior's picture

These precious metal manipulators don't want me to know where they are.

Dragon HAwk's picture

Do Algos have Chat rooms.. back door data links no humans know about.

charlewar's picture


Crypto Kevin's picture

Since when is a $10 move down a "flash crash? That's not even a 1% move. This isn't even worth an article.

Give Me Some Truth's picture

One media entity in the world needs to chronicle what's happening to gold and silver. The MSM isn't interested.

Give Me Some Truth's picture

God bless, GATA. A real profile in courage.

strannick's picture

Amen. Chris Powell has banged his head against this wall for decades. "There are no markets, only Gov interventions"

Give Me Some Truth's picture

Chris has also coined another phrase that's right-on. "There are no journalists."

I don't think he's said it that plainly. But many of his dispatches he references people who work at newspapers and TV stations and news services and says, "if anyone there is interested in practicing journalism ..."

They aren't of course. Because there are no journalists.

sinbad2's picture

Well there are a few journalists left, but most are unemployed, because they won't write fiction.

Robert Fisk at the Independent, is the only western journalist truthfully covering Syria, I don't know how he has survived?

jharry's picture

Bill Still, still reporting the news is a journalist.

Bay of Pigs's picture

Your name gives you away.

Get up to speed sonny.

Kaiser Sousa's picture

5 weeks and still wearing huggies....

what the fuck u expect homie.


Kaiser Sousa's picture

yeah...i guess i will sell instead of contiuin to buy Phyzz cause obviously the market is telling me so...







long Physical Gold, Silver, and right at this moment Kettle One....


Bluntly Put's picture

That's funny, whenever I'm at the coin shop looking at rounds or coins the price never spikes up and down like that.