Gold Bounces Off Key Technical Support On Massive Volume

Tyler Durden's picture

The last 48 hours has been quite a chaotic one in precious metals markets with massive volumes of 'paper' gold flushed in and out of the futures markets. This morning - shortly after the US open failed to spark a panic-bid in stocks - gold futures bounced off their 200-day moving average on huge volume (around $4.5 billion notional) breaking above the 100DMA...

The last day or so has seen a plunge below the 100DMA (on 33,000 contracts - around $4.2 billion notional), then another flush to the 200DMA as Europe opened overnight (on 22,000 contracts - around $2.8 billion notional) and then shortly after the US equity open, a 35,000 contract ($4.5 billion notional) rip higher off the critical moving average...


Once again the moves in gold appear to mirror manipulation in USDJPY...


Silver is echoing Gold's moves today but yesterday's standalone move remains...

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Cafe Baghdad's picture

We have all heard of Rothschild and Rockfeller, but ontop of them sits David Sassoon, master of asian opium.


He controls everything, markets oil, Banks.

He was thrown out of Baghdad in 1812.

Everybody works for him. Everyone in the USA and everyone in Europe.

His son Abdullah anglicised Albert married Aline Caroline de Rothschild in 1887.


he owns your ass.

Adullam's picture

OT but ... The latest attack on Roy Moore is turning into a real boondoggle.

1. Check the signatures. They don't match.

2. Yearbooks don't come out at Christmas. They come out at the end of the year, or at least some time near the end of the school year.

3. The restaurant name is wrong.

4. The handwriting of the date and restaurant name is different than the rest.

5. If you look at the writing, the last part from "Moore" to the end is even in a different color of ink.

This is going to blow up in the faces of the establishment trying to get Moore out before he gets into the senate where he can do some real damage to the swamp ... maybe more than Donald has so far.

E.F. Mutton's picture

But the same CIA contractor did such a bang-up job on Obama's Birth Certificate


Adullam's picture

One of these days (hopefully soon), it will be something like a Roy Moore situation that will break the dam and open the floodgates of a domino effect that will include gold/silver finding their true value in the market place.

Consuelo's picture



Don't wish too hard for that day...


Make sure your provisions list and alternate living situation is airtight, because only in that situation are gold and silver going to find their true value.



Adullam's picture

Just follow the sound advice of Oliver Cromwell to his troops on the eve of going to battle against the king: "Trust in God and keep your powder dry".

auricle's picture

Needs to reach $1380 to make a new annual high. God's money needs to get moving. Let's hope this is a December to remember. 

Conax's picture

C'mon, Consuelo. Why does everyone say that? Many commodities have risen dramatically over the years and Mad Max is nowhere to be found.

It's always, "For heaven's sake, if silver goes to a hundred dollars bread will be $30 a loaf!"

I don't think so. Your electronics may go up a couple bucks a unit.

The bankers are the ones that will suffer since they have stubbornly shorted it no matter how cheap it got.  $17 silver is a total joke.

If it was at $12 they would still short it and badger it every day.

They are relentless.

YUNOSELL's picture

The Golden Rule: Treat others as you would like to be treated.

The GLD Rule: He who controls the GLD, rules

Snaffew's picture

roy moore looks like a pissed off howdy doody.  The guy is a complete joke and his fans are even sadder.

Plunge Protection's picture

"Massive Volume" ... pathetic $5 move up to flat on day, went from 1272 to 1278, yawn

dark fiber's picture

$1.3B + $4B the next day, a blatant manipulation move, while all regulators pretend nothing happened, and what do they have to show for it? Gold still in the upward trend channel.  Not working anymore.  Gold on that chart they keep watching and trying to manipulate will suddenly one day crash to ZERO.  And there is nothing they can do about it.

Justin Case's picture

Dec. is a kind month to PMs and GLD just completed a double bottom. If gold moves strongly in Dec. there will short covering that will push it even stronger. The PM sector is hated and dispair has set in. The usual time to accumulate. This market is way oversold and a excellent value. No bubbles here. Rock bottom value.

SubjectivObject's picture

looking at past price action

this is a familliar pattern

i believe it's called a set-up

markj113's picture

So $6 not $5 then.

A special kind of stupid.

anarchitect's picture

You're going to wear out the V on your keyboard from pasting this horseshit into every article.  Get a life.

This is it's picture

And... It's hammer time! 

Quantum Bunk's picture

Gold can barely crack $300 above its 2007 price. Gold stocks are eying their 2001 lows while stocks, bonds, real estate the world over, is white hot.



Justin Case's picture

You've already identified the area of value. Money flows to value. Everything else is in nose bleed territory. PMs are a contrarian investors dream. PMs are a tiny sector and when money starts to flow to value it is going to be awesome. I still remember watching gold and silver in the 80's. I sold at the top of the silver market, paper silver though. After the crash I bought gold at $284.00.It's still collecting dust today.

afronaut's picture

But its 1000 over its 1997 price. hopefully you people were buying when it was actually cheap.

Manipulism's picture

Stop this bullshit non news about gold, idiots.

buzzsaw99's picture

it's only manipulation when $4.5B is quickly sold.  buying that quickly is normal.  /zh goldbugs

Quantum Bunk's picture

Gold is barely $300 above its 2007 price. Gold stocks are eyeing their 2001 lows. While the rest of the worlds assets are white hot.


No nothing to see here you ugly cunt

buzzsaw99's picture

seen oil lately?  how about wheat?

Quantum Bunk's picture

Oil is not an asset. Fuckwit.

Wheat is not an asset. Fuckwit.

buzzsaw99's picture

your brain damn sure isn't an asset

Quantum Bunk's picture

You've been a snarky dollar bull since January. Hows that working out ? Most ZH commenters these days are closet dollar bulls. And then theres the ones out of the closet like you

buzzsaw99's picture

since january? ha! like since forever.  i've been here a long time and i stand by my statements.  looks like i was wrong about gold in 2017 though.  i thought it would break $1000 to the downside.  oh well, assuming it doesn't crater $300 in a month or so there's always 2018.

silverserfer's picture

gold is a  tier 1 asset. You really think the dollar is going to strenghten that much? Valuations are reative. 

Pearson365's picture

You're in need of some reading material from

Turin Turambar's picture

$4.5 billion notional? Yeah, that's about 60 seconds worth of transactions, depending on time of day. :-O

Pearson365's picture

Considering the billions of $ that have been thrown into the gold market in both directions, the volatility has been spectacularly comatose.

ParkAveFlasher's picture

It's like watching nurses sheet-roll a coma patient from one side of the bed to the other.

gdpetti's picture

Interesting analogy given the 'Illuminati' desires along their necrophilic traditions... keeping their tortured victim alive in order to keep their desires strong and alive.... in their own way, of course. It's not the life for most people, but for that certain select type...

Stand Along Complex on Silver was interesting as well, given it's usual pattern of being late to the party and then making up for lost time. If nothing else, the PMs are the mirror image of the crytpo markets with their BTFD... the PMs are that 'canary in the coal mine' of the transition from the old to the new empire. How long can they keep everyone playing their paper games? It seems that we are entering that critical point on the charts..... our House of Cards is way too high for any change in the weather.

ParkAveFlasher's picture

I was completely aware of the suggestion of necromancy.  Truly, fornication with false gods is at play, as it was in ancient times, so it is today.

Al Huxley's picture

Sure it does, sure it does.  Not like the filthy cocksuckers who run the gold market could or would ever pull a stunt like that - 'this MUST be the real thing gang! Everybody in!'.  Suckers...

saldulilem's picture

For what it's worth, $4.5B is about 110 tons. China imports 1000 tons per year

buzzsaw99's picture

to a zh goldbug every 100 ton lot ever sold represents a conspiracy.

Consuelo's picture



Not to belabor an already overused axiom, but...  


When refusal of payment in $USD or an 'issue' with $UST makes itself known at the ports, and then with transportation, and then at the filling station, and then at the grocery store, etc...

Until then, I remain entertained with the soap opera of bit-whatever.

BandGap's picture

Stepping back a bit from the paper/physical arguments......

These oscillations are expected before something explodes or implodes. Not sure what, but somewhere, someday somebody wise enough to understand and brave enough to say it will state that the physical metal is the only thing with worth. The assumption that anything made out of paper is the equivalent of that beautiful, shiny, heavy coin will be stated as nonsense.

Not that I have a sixth sense or anything but it looks like the naked shorts might be getting nervous.


Conax's picture

"..naked shorts might be getting nervous."

It is not enough.. I want to crush them, see them plummet from the parapets of wall Street and hear the lamentations of the widows.

Being a barbarian

that's how I roll.

buzzsaw99's picture

i like the way you talk

Conax's picture

I said it in my guttural Arnold voice, too.  It's actually pretty close. to go, muh biscuits and mustard are ready. mm hm.


Give Me Some Truth's picture

Re: The Naked shorts might be getting nervous ...

Perhaps, but I don't know why they ever would. These people are backed/supported by all the powers of the "Powers that Be." They can continue their game forever I guess. No one is going to expose them or stop them from doing what's worked for years.

Al Huxley's picture

They're not nervous about the market, they've got that totally under control.  They're just nervous about the pictures of them with the goats getting out onto the internet.

DrumpFired's picture

Shitwave called this weeks ago. Just like today's technical bounce in stocks

Good yob shepwave

Soul Glow's picture

If you haven't been moving out of the dollar you should start now.  Look around you if you have any questions.  Never mind the inflated bank sheets from the Fed, ECB, BoJ, SNB, and PBoC - which by the way are holding not just currency but massive amounts of stock options just in case you had any questions as to what assets they prefer - but also the absolute chaos in the Mid East and locked down currency policy of India, one of the world's largest economies.

Whereas the Mid East had until recently been described with "turmoil" the recent coup de tat shows the pressure the House of Saudi Arabia is feeling.  With a mismanaged balance sheet, low revenue due to low oil prices, and a strained oil output (which has not grown for over a decade even during the last price boom) they are gearing towards starting WWIII.  And if India negating paper money doesn't tell you anything you may want to think about the role digital currency would play in the future - hint, it will be easy to tax and trace.  

Yet lastly let's remember the inflation of central banks, central banks that have authority over the control of money not for any real reason other than the government let them.  Because economics says the government should not control policy because the government would misuse this policy.  However, if one took a good look at the current policy, it is in the government's short term benefit to have low rates, as it makes money easy to get and will line the pockets of the rich that much quicker, in turn throwing money into the coffers of said politicians.

So if you are not out of the dollar, be it gold, silver, or bitcoin, you may want to diversify, because when the dollar crashes, it will be a deafening sound.  One which will leave the economic landscape in ruins.

Al Huxley's picture

I hear Harvey Weinstein's heavily into physical gold.  And Kevin Spacey has a huge stash of silver.  News of that got out and that's what's been behind the recent selloff.  Pretty much guarantees the end of demand for the precious metals, word has it tha the LGBTQ community and third wave feminists are heavily into the crytocurrencies and that's why they're taking off so much.

tallen's picture

Well that was a rollercoaster of emotion for me. 

wattie's picture

Join the Global Class action fightback against gold/silver manipulation!

Investors from 18 countries around the world have signed up so far...will you?

Together we can end this.