Gold Slammed After Someone Pukes $4 Billion Notional In Gold Futures

Tyler Durden's picture

As we approach the European close, the dolar index just spiked and precious metals (and crude) were pummeled. Gold futures tumbled on massive volume as over $4 billion notional was purged instantaneously...

Over 30,000 contracts ripped through gold futures - over $4.2 billion notional - in the space of a minute. That's around 10% of a normal days' volume.

NOTE - $1281 is the 100-day moving average that has been an equiliborum level for the last few weeks...

Silver was hit too as the dollar spiked...


Notably Gold remains the only winner post-Saudi chaos... for now...


Finally, we thought this was interesting...

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newmacroman's picture

They are going to smash gold all week until the 17-11-17 invasion of Lebanon.

Got to crush it down to the lowest possible launch pad.

Pun intended, my bad

newmacroman's picture

Last chance for TPTB to cover gold shorts. Now or never.

Oh, and buy oil calls out the wazoo...

Don Pancho's picture

It really was 4,966,400,000 dollars in a matter of 8 mins ARE YOU KIDDING ME!!!!!!!!!

lester1's picture

Audit the fucking Fed !!

Fireman's picture

Paper as gold..... damn almost as funny as Blipcoin as money.

Some folks'll buy any kind of shit you throw at them.


Onward to the garden of lectric tulips!





soyungato's picture

If everyone would just buy the f..king dip.

Give Me Some Truth's picture

Re: If everyone would just buy the f-in dip ...

Everyone probably would ... if they knew all the "dips" were going to stop - even for a week or two. Instead, we have learned that the "dips" will happen at least twice a week, sometimes five days a week.

And the advances after the dips never rise above a certain point. Would-be buyers have figured that one out too.

... All of this is by design. This is how "sentiment" for precious metals was murdered. This said, sentiment would come back from the dead if "someone" didn't keep making these attacks ... so someone does. Like exercise, this activity MUST be done on a regular basis to achieve the intended result.

syzygysus's picture

When I sell gold futures, I am sure to sell with a market order.  Oh yes indeed.

rwmctrofholz's picture

Exactly.  Gayness.  Not just a little gay either.  Liberache gay.

agstacks's picture

Puking 4 billion is tradition. 

CHX13's picture

When I sell, I sell 97 metric tons in a matter of minutes... HMM...

ToSoft4Truth's picture

An SE monster box is still $9,585.00.

Alongfortheride's picture

Got to cover them shorts...

Codwell's picture

One of those Saudi princes is about to get his gonads roasted by the secret police, so he sold some of his gold.

Jtrillian's picture

It's all fun and games until people begin to claim delivery and the paper charade is exposed when they are unable to comply.

Conax's picture

They will receive an EFP (exchange for physical) deal for another exchange at a slightly later date plus a little fiat grease to sweeten the deal instead.

These pricks are good, the system is hardwired to fuck the stackers especially on Fridays.  The low price glares at you all weekend this way.

Poor little silver is all ragged out, haters everywhere. Buy some moar.

For $2 bil a big player could buy it all. That's rare.

raub710's picture

wow you are lost...... nobody is going to claim delivery, those contracts only exist to cause what you see in this article...

MrBoompi's picture

Notional is a nice way to say something exists only in theory, or is a suggestion.  Kind of like almost every market these days.  

semperfi's picture

and then they bought BITCOIN !

shizzledizzle's picture

Another day at the orifice.

CHX13's picture

5 years ago this would have translated into a 50+ $ crash at least. Today it moves the market by a few bucks... Is the disconnect between naked paper shorts and available phyzz (200++/1 leverage) soon to end in unprecedented fireworks?

justanotherprogressive's picture

Oh, the games people play!   Looks like kind of the reverse of what happened on 11/8, doesn't it?

A82EBA's picture

There shall be NO 'i told you so' moments favoring PMs at Thanksgiving dinner table

Bam_Man's picture

"Those are trading sardines."

Soul Glow's picture

I haven't bought any silver for a few months.  I might have to stop by the coin shop on Monday.

Barney08's picture

Let's look at it this way

Why would it not be the Saudis?

buzzsaw99's picture

it has to be a country.  they are selling 50 - 100 tons at a whack.  saudi maybe?  germany maybe?  GLD has that much, maybe them but that would show up in the financial statistics and someone would find it out in either decreasing aum or increasing cash on the books.

Barney08's picture

The Sudias a good execution. DONE & DONE!

kiwimail's picture

They are not selling phyz, just paper contracts and those are printed from thin air.  Has nothing to do with real gold.

ReturnOfDaMac's picture

Coming to a bitcoin near you.  The upside is the exchanges will soon be able to the same thing for Bitcoin.

Ben A Drill's picture

The FED’s are telling us Americans that we can’t hold gold and silver much lower so hurry up and buy before it’s to late. This might be the last time we pm’s this low.

1stepcloser's picture

member when silver was just a buck.....I member...yeah I member 2

-member berries

SubjectivObject's picture

(((institional))) selling

the last two weeks of rising lows have been an annoyance for them

bardot63's picture

All the fucking charts on gold are worthless, each one, everyday, all the time.  This headline above is all  you need to know about why gold is not $5000 an ounce.    (also, writer of article needs to learn how to spell dollar).  

Give Me Some Truth's picture

Great point. Absent the recurring "puking" gold certainly would be over $5,000. Silver would certainly be over $60.

And the "Status Quo" would not still be the Status Quo. The Establishment and Deep State would be panicking (or already out of the picture). So their little operation to kill sentiment for precious metals worked just as they had planned/hoped.

If they have been doing this with no pushback for five or six years why would they stop now?

ReturnOfDaMac's picture

Five or Six years --- a you kidding?  This crap has been going on for DECADES!  Banks have been cought paid a minor fee and it has not stopped.  It will never stop, until and unless the whole fraudulent banking system is busted out completely.  And that ain't gonna happen short of world war 3.  So there, BTFD and STFU.  If you like shiny, enjoy stacking it at these discounted prices, they will be this way for a long, long, time.

Consuelo's picture



"After 7 years of watching this farce. No surprises. But disgusting to see, nonetheless."


The government could care less how much Bitcoin rises in relation to gold as it matters little to the Plaza Accord.   From $8000 - to $50,000 or higher, doesn't matter.   In fact, the faster it climbs, the less worry there is by comparison to stability.



Bananamerican's picture

"shoot the little 'Golden Messenger'...."

"What? Again??"

In.Sip.ient's picture

Yes, watching BtC recover as some fool monkeys with Gold...


I literally don't think the PTBs really see that train headed

straight at them...


Son of Captain Nemo's picture


Games Without Frontiers's picture

I can fucking guarantee when the smoke clears on the who and why it will be a FED member bank shorting precious metal futures with freshly printed money.

GIVJetMech's picture

Wholeheartedly agree. The Fed is toxic to America and only worries about keeping itself in existence. It needs to GO!