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Gold Sliding On Central Banker Script - First India Cuts Rates, Next Tries To Talk Down Gold

Tyler Durden's picture





 

Gold has moved rather rapidly in the past few minutes and many are scrathcing their heads just why this is happening?

The reason is simple: central planning script 101, page 1. As we noted earlier, the RBI did a very surprising overnight repo rate cut from 8.5% to 8.0%, the first in three years, and in other words it has just joined the global central planning cartel in attempting to stimulate the economy nominally, even as inflationary packets still abound across the land (see China), by reliquidifying. Yet what does that mean from a modern monetarist standpoint: why crush gold as an alterantive to the local paper currency of course.  Sure enough:

  • INDIA ECONOMY SECRETARY: EXPECT TO LOWER GOLD CONSUMPTION IN ECONOMY - DJ

And there you have it: because the last thing India needs is a surge in gold buying now that it too has joined the global reliquification parade. That said, we are curious in what parallel universe will liquidity easing result in less demand for hard assets. Ask the algos who are selling on nothing but headlines, yet oddly ignoring the fact that India and now Austrialia appear set to enter the race to CTRL-P's bottom.

 


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Tue, 04/17/2012 - 09:55 | Link to Comment Debtless
Debtless's picture


Tradition just went on sale this morning. Get you some.

 

http://www.youtube.com/watch?v=6-I1mugY5Ds

Tue, 04/17/2012 - 09:58 | Link to Comment Badabing
Badabing's picture

gold bashing bitchez

Tue, 04/17/2012 - 10:08 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Just a little intervention.....courtesy of the BIS.

 

Tue, 04/17/2012 - 10:11 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Two years ago on the day I started the BUY SILVER - CRASH JPM MOVEMENT.  This moveent was designed to not only crash JPM, but crash the dollar, and it gives us comtrol of the monie supply, and our right of equal exchange and fair value.  Ya'll know the drill.....

BUY SILVER!

Tue, 04/17/2012 - 10:13 | Link to Comment tmosley
tmosley's picture

Max?

Tue, 04/17/2012 - 10:46 | Link to Comment tocointhephrase
tocointhephrase's picture

We love you Max!

Tue, 04/17/2012 - 11:07 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I am not Max, and Max does credit Zero Hedge with starting the Buy Silver - Crash JPM Movement, as he should, since the post I made that summerized our motives was in due fact because he pointed out JPM's short position, and everyone was yelling about a Comex default.  I just put 2+2 together.....on Zero Hedge....2 years ago today.

Tue, 04/17/2012 - 11:34 | Link to Comment AldousHuxley
AldousHuxley's picture

indians are compulsive liars who are trying to out lie Jews in their own ponzi scheme.

 

 

 

 

Tue, 04/17/2012 - 11:35 | Link to Comment HoofHearted
HoofHearted's picture

How about that nice V-shaped recovery just as the TOTUS speaks? Or is that a "V for Vendetta"?

Wed, 04/18/2012 - 02:55 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

That's not a V, it's a roshambo

 

Tue, 04/17/2012 - 12:19 | Link to Comment SilverRhino
SilverRhino's picture

Indians have a unique take on the English language -

It's pronounced CHEAP, it means SMART.  

Tue, 04/17/2012 - 14:20 | Link to Comment TheGardener
TheGardener's picture

Indians are marvellous and no threat to anyone because
of lack of chutzpah. The religiously impaired part of
British India got amputated and is as intended only a threat
to herself.

Wed, 04/18/2012 - 02:53 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

"and everyone was yelling about a Comex default.  I just put 2+2 together.....on Zero Hedge....2 years ago today."

COMEX defaulted, JPM didn't

http://i41.tinypic.com/i3tk44.png

Tue, 04/17/2012 - 10:51 | Link to Comment JustObserving
JustObserving's picture

What you forget is that we do not have fair and free markets.  The Crimex increased margin on silver 5 times in just 8 days (up 84%) in May 2011 to crush investors.  Sorry, JPM won that round hands down and made billions. Unless the Chinese and Indians pitch in, the Morgue will win the next round too.

http://goldandsilverblog.com/how-the-comex-crashed-the-silver-market-0235/

Tue, 04/17/2012 - 11:44 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The great thing about the Movement is that we buy an item, silver, with great value, intrinsic value, with fiat money that has no intrinsic value.  No matter the short term price fluctuation, we have collateral.  And in due time, as long as we continue, we can take down the great Beast upon us, JPM, and it's proxie banking system.

Tue, 04/17/2012 - 13:24 | Link to Comment Stuck on Zero
Stuck on Zero's picture

I'll provide the bank account number.  You send me that worthless fiat. 

Tue, 04/17/2012 - 16:57 | Link to Comment Island_Dweller
Island_Dweller's picture

JustObserving wrote : 'The Crimex increased margin on silver 5 times in just 8 days (up 84%) in May 2011 to crush investors.'

I wouldn't call long, margined, paper traders "investors".

Tue, 04/17/2012 - 10:49 | Link to Comment whatsinaname
whatsinaname's picture

The Indian rate cut looks very ill-timed considering headline inflation is barely under control.

 

Just wondering how Gold pricing (the real pricing) based on actual global consumption, annual production happens ? Is there a production / consumption report one can refer to somewhere.. Not the futures pricing !!

Wed, 04/18/2012 - 02:41 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

http://www.kitco.com/ind/Holmes/holmes_feb222010.html - breakdown by usage, by nation (jewelry), by nation per-capita (tons)

http://www.kitco.com/charts/CPM_charts.html - highly detailed but data ends at 2009

 

Tue, 04/17/2012 - 09:59 | Link to Comment dereksatkinson
dereksatkinson's picture

And people wonder why so many of us have lost faith in government...

Tue, 04/17/2012 - 10:23 | Link to Comment Schmuck Raker
Schmuck Raker's picture

You can't lose what you never had...

Tue, 04/17/2012 - 11:17 | Link to Comment Money 4 Nothing
Money 4 Nothing's picture

Punish the savers and investors. Free market my ass. These PM's have been locked in a predetermined trading range and at the end of the month, your net -0- it seems to me.

Tue, 04/17/2012 - 13:32 | Link to Comment lemonobrien
lemonobrien's picture

options end this week; and PMs are basically an end game; watch what happens when everyone tries to save their own asses.

Tue, 04/17/2012 - 09:55 | Link to Comment Capitalist
Capitalist's picture

Mr Geithner what's the risk that gold spikes above $2000/oz as central banks print?

Geithner: No risk of that.

Tue, 04/17/2012 - 10:00 | Link to Comment Money 4 Nothing
Money 4 Nothing's picture

If Gold spikes and holds $2,000 troy oz, then they all become proven liars and the scharade is exposed. That's a big part of their cover up.

Tue, 04/17/2012 - 10:06 | Link to Comment mushi
mushi's picture

No. They will just continue like nothing happened, like they've done many times already. Nobody is putting their heads on a plate so they can continue to do what the f*** they want. And they will.

Tue, 04/17/2012 - 10:36 | Link to Comment HoofHearted
HoofHearted's picture

Eventually those shorts have to be covered or delivered. Imagine my shock when the NYFed and Ft. Knox have nothing in them. Nobody could have predicted it...nobody. (And this is certainly not a predicition or anything.)

Tue, 04/17/2012 - 13:26 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Naked shorts are easy to cover.  Smash the price with more longer term naked shorts and then cover your near term shorts.  You can do this for frickin forever.

Tue, 04/17/2012 - 09:56 | Link to Comment MFL8240
MFL8240's picture

This fucking con game is now global! 

Tue, 04/17/2012 - 10:01 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Alert FOX, there's a War on Gold!

Tue, 04/17/2012 - 10:09 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Murdock has his hands full as it is.

 

Tue, 04/17/2012 - 13:34 | Link to Comment lemonobrien
lemonobrien's picture

war on gold since '71

Tue, 04/17/2012 - 10:07 | Link to Comment dereksatkinson
dereksatkinson's picture

Well considering they lost the battle to tax gold, this was the next best thing they could come up with.

Tue, 04/17/2012 - 10:11 | Link to Comment EscapeKey
EscapeKey's picture

It has been for a long time;

 

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert by secret agreements arrived at in frequent private meetings and conferences." 
  -- Quote from Caroll Quigley's Tragedy and HopeChapter 20

Tue, 04/17/2012 - 10:18 | Link to Comment maneco
maneco's picture

They (Central Bankers) meet monthly at the BIS in Basel, Switzerland! The BIS is the man behind the curtain.

Tue, 04/17/2012 - 09:58 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

Inflation with no inflation protection.  So awesome. 

Tue, 04/17/2012 - 10:01 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

This bubble is well overdue for a collapse. We had the blow-off top at 1900+, and we had the bull trap retracement to 1790. This is the final stage of the gold bubble: capitulation. I feel genuinely sorry for goldbugs right now. I have warned them countless times to get out of this bubble, but each time my warnings have been met with dismissal and verbal abuse.

Tue, 04/17/2012 - 10:03 | Link to Comment fonzannoon
fonzannoon's picture

I believe MDB just laughs out loud as he hits submit.

On a side note this chick on my pop up ad that supposedly lives 2.8 miles away from me and is dying to chat with me is starting to wear on me. I have not clicked on her request yet but I must admit I take an extra look around the supermarket to see if she does exist....

Tue, 04/17/2012 - 10:10 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Yes...because the 16 trillion debt bubble.....will never burst. It will just grow larger.

 

Tue, 04/17/2012 - 10:24 | Link to Comment chubbar
chubbar's picture

I live in a small town and it is essentially a sausage fest around here. The few women that do exist don't compare to the ones that supposedly live 10 minutes away and can only find a man via an anonymous chat room. Simply amazing how that works.

Tue, 04/17/2012 - 11:30 | Link to Comment Think for yourself
Think for yourself's picture

Well, I currently live in Panama, and the latinas that supposedly want to date me on the side adds do not measure up to chicks I randomly meet on the street. Count me lucky.

Tue, 04/17/2012 - 10:03 | Link to Comment francis_sawyer
francis_sawyer's picture

I predict a bubble in bad trolling...

Tue, 04/17/2012 - 10:17 | Link to Comment engineertheeconomy
engineertheeconomy's picture

the Troll curve parallels the GOLD curve

Tue, 04/17/2012 - 10:06 | Link to Comment Money 4 Nothing
Money 4 Nothing's picture

Not if you were in at $350.00.

Tue, 04/17/2012 - 10:05 | Link to Comment Vendetta
Vendetta's picture

Yep.  Because gold isn't backed by ANYTHING.  /sarc off

Tue, 04/17/2012 - 10:12 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

/sarc on.......and we can always print more gold.

 

Tue, 04/17/2012 - 10:08 | Link to Comment junkyardjack
junkyardjack's picture

Gold will always be backed by rappers

Wed, 04/18/2012 - 02:27 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

GartnerLetterBonus...

you been beat to that punch bowl too many times.

With all the top-calling failures and with Dennis flip-flopping off every deck of every boat he gets reeled onto in the vast sea of disinformation, you really don't have much room to joke no matter how you try to hide it.

2012 Apr 10 gold price performance 10 years | Flickr - goldpricemodel

Now's the time to get in gold and get in big. gld calls to buy > 90 days time remaining and stacking bars/coins. If you'd rather be more conservative throw the options out the window and just stack it. Silver's underperforming the 2x exponential performance vs gold it ought to have so... buy if you feel like it.

http://flic.kr/p/bzuBrS - 1.12x calculation & overlays of gold & silver USD spot prices

Who's afraid of the big bad wolf?

Tue, 04/17/2012 - 10:02 | Link to Comment maneco
maneco's picture

It's probably Mikael Charoze of the BIS selling gold!

Tue, 04/17/2012 - 10:02 | Link to Comment youngman
youngman's picture

You can bet your lifes finances that the Central Banks will use everthing they can to keep Gold down...they have to...they cannot allow an alternative currency or anything that looks like one.....that is a fact jack...but at some point they will not be able too....

Tue, 04/17/2012 - 10:23 | Link to Comment engineertheeconomy
engineertheeconomy's picture

Central Bankers worst nightmare is going to come true soon, your local bullion dealer won't be able to keep GOLD on his shelves because of demand. Right now the central bankers are melting down their large bars to pour small bars and coins to keep the shelves in stock. Once the shelves are emptied, GOLD will skyrocket and the EASILY PRINTABLE PAPER GLD will either keep up or fall to ZERO where it belongs

Tue, 04/17/2012 - 13:00 | Link to Comment prole
prole's picture

Or they'll smack the price of gold back down to 1200, for starters. They can do whatever they want. How does anyone know what they are GOING to do? I don't know. Does anyone here know? (those who do know, aren't talking)

Tue, 04/17/2012 - 14:34 | Link to Comment Troll Magnet
Troll Magnet's picture

i don't believe gold will fall to the $1,200 range because chinese and others will be all too happy to load up their trucks if/when gold falls to $1,500-$1,520.  just my wild guess.  personally, i'm looking to load up on more silver right now.  just because.

Tue, 04/17/2012 - 10:03 | Link to Comment DeltaCharlie
DeltaCharlie's picture

Someone didn't update the text in that document? Didn't they just capitulated on increase import tax on gold after a jewelers' strike a few weeks ago?

Should have known governments lie through their teeth. 

Tue, 04/17/2012 - 10:17 | Link to Comment q99x2
q99x2's picture

Enter to Win. Dinner with Barak.

Gloom's not coming in fast enough here. I'm off to Alex Jones and the USGS.

Tue, 04/17/2012 - 10:06 | Link to Comment Theta_Burn
Theta_Burn's picture

India rates @ 8%...

In todays world, they look better than most

 

Tue, 04/17/2012 - 11:33 | Link to Comment Bam_Man
Bam_Man's picture

Not so good when "reported" inflation is running at 9.1% and the actual rate is much higher.

Tue, 04/17/2012 - 13:07 | Link to Comment prole
prole's picture

In America, your gold bug is rare, most Sheople are flag waving, offspring sacrificing (to military industrial complex) paper money believing in fembots.

In India, the humble and the average, if they have any capital at all, hold gold, and are not so concerned about paper money scams and inflation of joke 3rd world currencies. They take that for granted (especially the wealthy) that is why they hold gold.

Tue, 04/17/2012 - 10:09 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Down over $17.00in like 3 miniutes.....

Fuck Yous Bankers.....

Your day is comming.

Tue, 04/17/2012 - 10:12 | Link to Comment Yogieu
Yogieu's picture

Send them card with your gratitude - you can buy more cheaper :)

Tue, 04/17/2012 - 11:10 | Link to Comment anonum
anonum's picture

lol, Look at the rebound. Gold just got angry?

Tue, 04/17/2012 - 10:45 | Link to Comment toothpicker
toothpicker's picture

Nice world: algos trading on lies. What can go wrong?

Tue, 04/17/2012 - 10:09 | Link to Comment _underscore
_underscore's picture

Luckily, I can afford to have 'strong  hands' in the PM game & these obvious manipulations make me even more determined to keep in the game until the bullshit unwinds & lands in their cheating faces. In fact, I feel a bit like a gold 'freedom fighter' - you know, the more they knock you down, the stronger you get up.

Perhaps rather contrarily, the more the game becomes obvious, the more bullish it is for me - if gold was 'just a commodity' they'd hardly bother with all the shenanigans would they?  Proof positive.

 

Tue, 04/17/2012 - 10:09 | Link to Comment zilverreiger
zilverreiger's picture

they want irans oil for gold cheaper?

Tue, 04/17/2012 - 10:09 | Link to Comment savagegoose
savagegoose's picture

WTF when is lower  interest rates meant to  decrease the worlds appetite for gold?  gold is a haven for money when there is no interest payments!  fuck it, %15 interst rates is what destroyed gold at $800 back in the 80's

 

 

Tue, 04/17/2012 - 10:12 | Link to Comment DeltaCharlie
DeltaCharlie's picture

good point @ zilverreiger.... maybe this is just a ruse so to appear that they are trying to go along with US sanctions. Say one thing, do another!

Tue, 04/17/2012 - 10:32 | Link to Comment Zero Debt
Zero Debt's picture

Gold thrives in negative real interest rates. India's real rates just got even more negative. India's leaders know this. They are running huge deficits and need to print massively. They are running inflation as high as they can without provoking social unrest. And now they are trying to talk down gold. Last few weeks they tried to kill gold with taxes. Now they are trying to use propaganda to mitigate the effects of easing. India has to bail out itself. It is the old Fed playbook post Operation Twist. Why are they even bothering to talk about gold, if they didn't have this issue? The fed is playing this trick constantly. No wonder, because gold was creeping back over 1650 again. Next stop 1680 would happen rather soon and once 1680 is taken out, it will get to 1705 or even 1720 rather quickly. Lots of new spec shorts would be in pain over 1660 already. I believe it is getting rather hard for the shorts to hold 1650 now, I for one would be sweating on a daily basis while looking at the SMA:s. It is more of Pavlovian mass psychology market conditioning: ease + talk down gold + hit gold with outright market ops.

Tue, 04/17/2012 - 10:50 | Link to Comment Zero Debt
Zero Debt's picture

In case you haven't seen it, Rupee gold is exploding, near 90,000 Rupees!!

http://www.bullion-rates.com/gold/INR/Year-5-chart.htm

"Chart of the day"

If you were the Indian central bank and you saw this chart.....
You would have to ask yourself...
"What shall I tell my boss when it goes to 100,000 rupees?!!!"
Maybe just go drown myself in Gagnes....

Tue, 04/17/2012 - 11:30 | Link to Comment Stuart
Stuart's picture

BTD.  Lets see if there's intelligent life out there to see through this blatant market management and take advantage of it.  

Update: Apparently there was intelligent life able to see through that BS after-all.  

Tue, 04/17/2012 - 10:10 | Link to Comment monopoly
monopoly's picture

Your words are not even worth a reply if you think gold is in a bubble and fiat money is anything but worthless. Suggest you move on to the cnbc website where your views are appreciated with the other "brilliant ones".  We really have no use for you here.

Tue, 04/17/2012 - 10:13 | Link to Comment paddy0761
paddy0761's picture

To quote The Black Knight:

 "It's just a flesh wound".

http://youtu.be/zKhEw7nD9C4

 

Tue, 04/17/2012 - 10:17 | Link to Comment mogul rider
mogul rider's picture

 

 

 

coincides with the current website attack on king world news. The site is down right now.

 

Anonymous we need assistance here. Can you guys tear the MAN a new asshole

 

thanks in advance

Tue, 04/17/2012 - 10:33 | Link to Comment paddy0761
paddy0761's picture

Good old Eric must have tried to post something too juicy.

Tue, 04/17/2012 - 10:37 | Link to Comment Zero Debt
Zero Debt's picture

I was just wondering.. why KWN was down...

Tue, 04/17/2012 - 10:14 | Link to Comment Silveramada
Silveramada's picture

YEAH! we buy more of that shiny stuff you tards! keep give us discounted prices now: more profit later when gold is 7000$ and silver is 600$!!! BUAAAHHAHH!

Tue, 04/17/2012 - 10:19 | Link to Comment caconhma
caconhma's picture

Central Banker just forgot silver. It is stable.

Comodities are almost all up: agriculture, oil, etc.,

The boat is leaking! They might keep gold in check but what about other commodities. Regardless of what they do, they are doomed. The terminally sick patient just got LSD...

PS

New world reserve currency will be iPad. Everybody wants it specifically the USA and China.

Tue, 04/17/2012 - 10:49 | Link to Comment toothpicker
toothpicker's picture

they forgot to turn on the Mega Silver Algo Bashing Machina

Tue, 04/17/2012 - 11:42 | Link to Comment caconhma
caconhma's picture

One more thing: people , you are all wrong!

The flood of fiat money must go somewhere. There are no ifs or maybes about it. Therefore, the Zionist Banking Mafia would rather see gold at $3,000 than gas at $5-7/g or bread at $10. After all, Joe-sixpack is not watching gold prices...

So, be ready to see gold prices go exponentially up very soon!

Tue, 04/17/2012 - 10:17 | Link to Comment RoadKill
RoadKill's picture

Subject gold and all raw gems and jewelry to a 25%-50% luxury sales tax. :)

Tue, 04/17/2012 - 10:27 | Link to Comment engineertheeconomy
engineertheeconomy's picture

Subject the Dollar to sales tax when they print it, but demand payment in GOLD

That'll fuck em up

Tue, 04/17/2012 - 10:17 | Link to Comment Schmuck Raker
Schmuck Raker's picture

More info about the government's efforts to help homeowners at this link:

www.makingGOLDaffordable.fed

Wed, 04/18/2012 - 00:15 | Link to Comment StychoKiller
StychoKiller's picture

That link is FUBAR!

Tue, 04/17/2012 - 10:18 | Link to Comment Venerability
Venerability's picture

Clearly they are just trying - desperately - to preserve Princess Dennis's reputation, which is now in tatters.

Let's see if we get the exact same thing we got with the Brent Stocks yesterday: Brent artificially taken down, Brent Stocks UP nicely.

Reprise pattern today could be Gold artificially taken donw, Gold Stocks UP nicely.

And once again: We are in for some literally humongous - momentous - sector M&A, because it won't be based on juniors, but on takeouts and mergers-among-equals of XAU, TSX Gold, and HUI components.

It is about to start. Fasten your seatbelts. 

 

Tue, 04/17/2012 - 10:34 | Link to Comment Paul Atreides
Paul Atreides's picture

The war on gold is ramping up. Two key articles on gold this month came out on King World News

The first: London Trader – Fed’s Global War Against Gold Escalating

The second: Expect Another $17 Trillion of QE & War in Gold

You can read the partial articles with the links above but the originals are unavailable atm (if anyone has alternate links please reply with them). TPTB did not want this information released to the genpop so they have run DOS and other attacks on the servers. The KWN servers are on lockdown (protected) for the time being.

What does this mean? Gold is a spring which is ever being more tightly squeezed by central planning, the sovereigns needs as much as they can for leverage when SHTF so they are dumping paper gold in step with relevant geopol news, smashing down the price then quietly loading up with physical.

 

 

Tue, 04/17/2012 - 10:35 | Link to Comment engineertheeconomy
engineertheeconomy's picture

so they are PRINTING paper gold, smashing down the price

there, fixed it

Tue, 04/17/2012 - 10:26 | Link to Comment mogul rider
mogul rider's picture

I have zero time for gold pumpers but I also accept that sometiems differing opinions needs ot come together to bend the man over.

This is one of them

 

facts

Gold plummets though a nothing floor for no reason other than:

India

King world site down on attack - happened on april 5 and 11th too

Canada's central bank troll threatens interest rate increase which is simply a gold attack.

They know that folks around the net go to Eric's site for a quick update and here. I would imagine Tyler you are next......

 

 

Tue, 04/17/2012 - 10:31 | Link to Comment GlenD
GlenD's picture

why is gold sachs trying prove us gold sucks all the time. Make it rise you axxxholes

 

Tue, 04/17/2012 - 10:35 | Link to Comment Flying Wombat
Flying Wombat's picture

Nice to see ZeroHedge covering this story.  Most in the media don't have the cojones, even when it's known and reported that manipulation of all other things related to money (interest rates, bond purchases, and on and on) is right out in the open.

Tue, 04/17/2012 - 10:38 | Link to Comment icanhasbailout
icanhasbailout's picture

BTFD - but only on things where the underlying value can't be inflated away.

Tue, 04/17/2012 - 10:38 | Link to Comment Kina
Kina's picture

So the Fed and their bullion bank mates are actually acting in a Treasonous manner. Manipulating gold as low as they can, where it can be bought up in greater quanitities by other governments.

Wonder if they will end up executing some people for treason when it is realised they have given Asia all the gold and made the US an economic weakling.

 

Blatant open corruption in your face by the Fed and bullion banks. They know we know they are corrupt and breaking laws. They know that we know they own the regulators and politicians, so they wont be bought to account and punnished.....unless of course the shit hits the fan propertly and the US economy crash 2 x 1929. Then nothing will save them from the truth commissions that will follow.

 

They ought to study history to know what is going to happen to them.

Tue, 04/17/2012 - 10:41 | Link to Comment paddy0761
paddy0761's picture

Interestingly, I was watching the HUI & XAU closely throughout that little smackdown and neither of them seemed to buy into it. The $BPGDM looks like it has bottomed with gold making a higher low (right shoulder); which is usually a good sign.

http://stockcharts.com/h-sc/ui?s=$BPGDM&p=D&yr=3&mn=0&dy=0&id=p44946649940

 

Tue, 04/17/2012 - 10:43 | Link to Comment engineertheeconomy
engineertheeconomy's picture

If you all would do as I do and go buy physical every time they do this, eventually they would have to stop because there would be no physical left on the shelves and this would cause the price of physical to skyrocket

The war with the central bankers is being fought on the shelves of your nearest bullion dealer

Supply and demand

There, on the shelves

Believe it

Bitchez

Tue, 04/17/2012 - 10:44 | Link to Comment Confundido
Confundido's picture

ECB margin calls met with forced gold sales...Makes sense? Did anyone notice that the selling algo is now before 10am. It used to show up at 10:30, then at 10am.

So, now they got us back to a floor of $1,636. A lower low. Which means they need to make lower highs = They won't let $1,650 happen again, in a long, long time.

 

Tue, 04/17/2012 - 10:59 | Link to Comment paddy0761
paddy0761's picture

$1650 might be tested sooner than we think.

Tue, 04/17/2012 - 12:53 | Link to Comment squib
squib's picture

$1652 two hours after the guy above you posted. Not bad if you are a bacterium.

Great call about not seeing $1650 for a while, wow. Hope you posted it on facebook.

Tue, 04/17/2012 - 14:24 | Link to Comment smiler03
smiler03's picture

Indeed. It actually opened at $1652 ;O)

Tue, 04/17/2012 - 10:44 | Link to Comment SDRII
SDRII's picture

Bloomberg joins the party suggesting: "March Gold Sales Drop as Stability Returns, Perth Mint Says"

http://www.businessweek.com/news/2012-04-16/gold-sales-drop-in-march-on-...

 

 

Tue, 04/17/2012 - 10:57 | Link to Comment paddy0761
paddy0761's picture

Mmmm. I bought from The Perth Mint in March; obviously I didn't buy enough.

Tue, 04/17/2012 - 10:47 | Link to Comment Al Huxley
Al Huxley's picture

Or it could just be that there's a big chunk of April GLD options (put and call) in the 160 neighborhood, and pegging the price at that level for the next few days will make those options more or less worthless.  So it's just good financial management if you're an options writer/bullion bank.

Tue, 04/17/2012 - 10:49 | Link to Comment Kina
Kina's picture

THe Fed pathetic. Trying to block the truth by blocking King World News, as though there are not another 10,000 holes in they dyke all over the world.

The Fed will have to get Obama to turn off the internet in the USA.

No Turth allowed in the USA.

 

So which one is Stalin?

Tue, 04/17/2012 - 10:49 | Link to Comment xela2200
xela2200's picture

An FukTard is talking down oil. I think Bernake and Obobo are going to get a lesson on capitalism real soon. The sad part is They won't learn just blame something or someone.

Tue, 04/17/2012 - 10:50 | Link to Comment Kina
Kina's picture

"March Gold Sales Drop as Stability Returns, Perth Mint Says"

 

Not good, means the Perth Mint might be paid for corrupt shills for the Fed. Do you then trust them with Gold and Silver purchases, if they can come out with such blatantly ignorant nonsense?

Tue, 04/17/2012 - 11:05 | Link to Comment xela2200
xela2200's picture

It just means that buyers are exhausted. The side ways grind is painful. Well, if making money was easy, we would live in an utopia.

Tue, 04/17/2012 - 10:57 | Link to Comment JJSF
JJSF's picture

30k contracts were sold at market today before the pm fix..that probably had something to do with it.  Anyone have idea just who it could have been? Anyone?...  nothing to do with the 4000 contracts sold at market last friday..

Tue, 04/17/2012 - 11:15 | Link to Comment maneco
maneco's picture

The problem is that gold futures are now traded electronically instead of on the Comex floor so it almost impossible to know who is doing the selling.

Tue, 04/17/2012 - 11:15 | Link to Comment Acet
Acet's picture

Interestingly, Gold is already back up almost to the level it was before all this bull.

Doesn't look a lot like a case of weakness in the Gold price. Maybe somebody has some outstanding derivative for which today's PM fix price was important?

 

Tue, 04/17/2012 - 11:01 | Link to Comment Thoresen
Thoresen's picture

Kingworld News off-line again.

One of those interviews has really upset someone!

Tue, 04/17/2012 - 11:05 | Link to Comment Thoresen
Thoresen's picture

How long before Zerohedge gets taken down???????????

Tue, 04/17/2012 - 11:15 | Link to Comment Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

In the long run, this is very bullish for the "Global Riots and Civil Unrest ETF".

Nasdaq symbol: SNAFU

Tue, 04/17/2012 - 11:27 | Link to Comment Sleepless Knight
Sleepless Knight's picture

Its 11:25 am eastern time - gold recovered the initial hit.

Tue, 04/17/2012 - 11:34 | Link to Comment The Continental
The Continental's picture

Interest rate cuts and gold price drops?  We are truly living in bizarro world. This is a Darwinian Inflection point for the world population, one that separates those who will survive economically from those who will perish. TPTB are determined to keep gold out of the hands of the masses while they systematically destroy all paper wealth. These same people have been buying gold furtively, believe it. You must own physical gold and silver because these are the only stores of wealth beyond the reach of government. Western governments are insolvent and soon to be bankrupt. They will dilute their currencies, sieze the people's pensions and savings, and destroy their currencies before they finally capitulate to the basic law that says that there is no free lunch and all welfare states end in collapse. Gold and silver have passed unscathe through numerous prior episodes of human arrogance and economic boom and bust. This is nothing new, if you know your history.

Tue, 04/17/2012 - 11:39 | Link to Comment darteaus
darteaus's picture

Simple: It just shows that the RBI is now buying gold like the PBOC, Bank of Russia, Brazil, etc.

Tue, 04/17/2012 - 11:54 | Link to Comment Central Wanker
Central Wanker's picture

Gold is back. This was the weirdest dip for quite a while.

Repeat after me: There's no manipulation.

Tue, 04/17/2012 - 14:32 | Link to Comment smiler03
smiler03's picture

Why is it weird if it's a dip but normal if it surges upwards? Like on the 12th April. Here you go, have your cake and eat it too. 

Tue, 04/17/2012 - 12:22 | Link to Comment tocointhephrase
tocointhephrase's picture

and......bounce...come on bitchez.......bounce

Tue, 04/17/2012 - 12:26 | Link to Comment Drashta
Drashta's picture

I would make three points about Gold in India:

A large part of the economy in India operates outside the goverment and regulatory perview and therefore what the government intends or declares does not have much impact.

There is a tendency to hoard something that is in short supply - in India it specially applies to gold.

There is a deeply ingrained cultural bias to look at gold as real money versus paper money.

Until the 1990's import of gold was highly restricted (almost banned) by the government and still India was the largest importer in the world through inward smuggling.

Tue, 04/17/2012 - 13:30 | Link to Comment Stuck on Zero
Stuck on Zero's picture

How ironic.  People mine gold from the earth and send it to market, people buy it and bury it in the earth.  Does that make gold bugs green minded recyclers?

Tue, 04/17/2012 - 15:21 | Link to Comment Silversem
Silversem's picture

I am happy with my goldminingstocks and i still love to trade gold with cfd's. No central bankster can change that!

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