Gold Tumbles More Than $100 As $1700 Stops Triggered

Tyler Durden's picture


In what is increasingly peculiar market action, gold dropped over $100 intraday, following triggering of $1700 sell limits, at which point sell signals hit every bid all the way to $1685 then a knee jerk bounce appeared, in some rather chaotic late day trading in paper gold. Whether this is due solely to algo driven liquidations following the earlier described shift in sentiment, or has some assistance from central banks is irrelevant as anyone and everyone who is happy to convert paper fiat into hard currencies is taking advantage of this latest short-term rout, to prepare for the next battery of printing which will come with 100% certainty. Remember: as we have been saying since the summer of 2011, Bernanke needs a tumble in stocks to get a green light for more easing, and he obviously won't get that with the S&P where it is, nor with WTI still sticking to $107.

$1700 sell limits triggered:


Why 100% certainty? Because one you go exponential, you don't go back.

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 02/29/2012 - 16:44 | 2209566 Flakmeister
Flakmeister's picture

Double ouch....

Wed, 02/29/2012 - 16:47 | 2209579 BaBaBouy
BaBaBouy's picture

@ Ben Shalom ...


NICE Manip Job ...

Wed, 02/29/2012 - 16:54 | 2209631 fourchan
fourchan's picture

lol silly speculators,

my ounces are unfazed by these laughable reactions, they stand the test of time unlike the frn

or any other fiat currency.

Wed, 02/29/2012 - 16:57 | 2209652 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Or paper goled.

Wed, 02/29/2012 - 17:00 | 2209665 nope-1004
nope-1004's picture

Nothing peculiar about white collar crime.


Wed, 02/29/2012 - 17:04 | 2209685 trav7777
trav7777's picture

Silver got absolutely crushed too.

Did Pt hit parity there for a second or was I daydreaming?  My DGZ is rockin it today lol

Wed, 02/29/2012 - 17:12 | 2209739 gmrpeabody
gmrpeabody's picture

Sell the DZZ going into the close, and adding to the CEF.

Time will tell...

Wed, 02/29/2012 - 20:29 | 2209863 caconhma
caconhma's picture

Today, Bernanke & his associates tried to crush commodities to justify more printing claiming there is no inflation.

However, only Gold & silver went down.  Oil and agriculture did not go down at all. Oil even went up.

The bottom line: Bernanke has failed to drive commodities down! His Zionist masters are too much involved with Iran to assist their agent on daily bases. Oh yes, Iran wants gold for its oil!

Finally, Russia (who pumps 10M barrels/day) is helping US pertodollar system. Otherwise, the US economy would collapse in no times. Why does the Putin's Russia do it? Well, the Russian oligarchy (like Qaddafi did) keeps all their loot in Western banks. But Rutin government is unstable!!! Keep this in mind.

Wed, 02/29/2012 - 21:53 | 2210664 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Jewish leaders will be in Washington next week and a near term solution to the Mideast crisis will be penned.  Oil and gasoline prices "tank" (pun intended) along with other commodities for a time.  Just another opportunity, perhaps one of the last, to get into real assets.

Wed, 02/29/2012 - 17:15 | 2209754 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You have to be joking me. 

You own silver, but talk shit about it.  You own LOTS of gold, but short it.  You bought platinum, and what, sold it yesterday?

Wed, 02/29/2012 - 17:58 | 2209979 trav7777
trav7777's picture

I am long Pt short Au in paper, bud.  I said that a month or two ago.

WTF is the matter with you...who cares if you own physical or not, FRNs ARE STILL MONEY.  Make as fuckin many of them as you can and buy whatever floats your boat.  I have said this many times, I do not care what you stockpile to preserve your wealth, you can choose the paper notes of bankrupt States, you can choose barrels of oil, bars of gold, junk silver, pussies, land, whatever man...fuckin negative interest rate loans to insolvent institutions (savings account) if you want to.  It's your business.

WTF do you want, a fuckin echo chamber?  You "freethinkers" are stupid, you come here for "knowledge" and then immediately turn around and try to squelch dissent.  seriously, wtf?

Why WOULDN't someone short gold if they were sure it was going to drop?  It's free money.  You people and your religions, man...make me laugh.

Wed, 02/29/2012 - 18:34 | 2210101 akak
akak's picture

Don't you have some niggers or spics to euthanize?

Wed, 02/29/2012 - 18:42 | 2210132 JW n FL
JW n FL's picture



new akak

Don't you have some niggers or spics to euthanize?
I thought Travis said that the SPICX were going to euthanize him? no??
Wed, 02/29/2012 - 19:00 | 2210195 akak
akak's picture

Competitive euthanization?

Wed, 02/29/2012 - 19:15 | 2210238 tmosley
tmosley's picture

>>Implying Trav doesn't try to crush dissent.

>>Implying Trav is a hypocritical douche.

Wed, 02/29/2012 - 19:22 | 2210257 akak
akak's picture

It's hard to gauge which Trav hates more: niggers or silver holders?

Wed, 02/29/2012 - 20:54 | 2210482 UP Forester
UP Forester's picture

Niggers with silver toofs?

Thu, 03/01/2012 - 00:44 | 2211236 JW n FL
JW n FL's picture



That is quote of the week material.. maybe month!

That was GREAT!!

Love Ya Trav but that was to, too funny!

Wed, 02/29/2012 - 19:38 | 2210312 Doña K
Doña K's picture

TRAV is right this time. We already know Ben's playbook when he testifies in congress. Buy paper puts of PM's in the morning and next day, buy physical with your loot. It has worked like a charm so far.

Our winnings? We've been watching 50 footers in the Med, (6 years old) coming out of charters for sale now. The high season is coming and still prices coming down. Hubby and I will go after one of these before end of season dry storage. They could go down as low as $90K. (Hopefully will be sailing to Ibiza next summer).  

Wed, 02/29/2012 - 20:36 | 2210438 Al Gorerhythm
Al Gorerhythm's picture

"FRNs are still money".

That is very debatable. Humans invented money and as such demand that it fulfil two important roles for it to be accepted as such:-

a) It has to be a recognisable medium of exchange, universally accepted. 

b) It has to store value over time.

FRNs are easily recognisable but are losing their acceptance as the Reserve Currency.

(Russia, China, Japan, Turkey, Argentina, Iran, dumping Treasuries)

Scratch "b"

They are a depreciating asset that lose value over time. They are not a good store of value, rubbish for saving).

Scratch "a".

FRNs are not money, they are speculative tokens, not useful for the purpose of saving but are useful in the world of risk.

Risk is too high at the moment to warrant playing the game, for me.

Wed, 02/29/2012 - 23:25 | 2210988 Libertarian777
Libertarian777's picture

crushed? it was fucking $33.50 2 weeks ago, its $35 now. how did it get crushed.

Thu, 03/01/2012 - 00:57 | 2211277 dark pools of soros
dark pools of soros's picture

because he just bought at $37

Thu, 03/01/2012 - 07:03 | 2211723 SRSrocco
SRSrocco's picture


Maybe some of you already came across this article, but I find it fricken hilarious that the DEADBEAT TRADERS got clobbered because they believed the LIE put forth by Bernanke.  Jim Sinclair just had a great interview discussing how Bernanke just stated that further QE would not be necessary on the EXACT SAME DAY that the ECB gave European Banks a record $712 Billion.  Where did this short term money come from??? 

Anyhow, those traders that still have functioning BRAINSTEMS in India believe silver will rise 35% more in 2012.  Here is the link to the India article on NEW HIGH IN SILVER:

In India, silver investors still extremely bullish despite price crash elsewhere

Silver prices leapt to a 7-month high in India on the same day that prices plummeted 7% in the international market. Despite the crash, traders expect a 35% rise by end 2012.


Silver is shining again in India contrary to the big fall in the international market. The white metal rose by $40.66 (Rs 2000) in one single day on Wednesday and has jumped to a 7-month high here, though it slid by 7% in the international markets later in the evening on the same day. Traders said investors have turned bullish on silver since the precious metal has posted an 18% gain in the last eight weeks.

Wed, 02/29/2012 - 17:06 | 2209696 CClarity
CClarity's picture

Any MFG style whispers?  Felt like a bit more than algos.  More like a company iquidation beyond lots of margin call.

Wed, 02/29/2012 - 17:17 | 2209767 mick_richfield
mick_richfield's picture

How about a quarter billion ounces of unbacked paper in 30 minutes?

Wed, 02/29/2012 - 17:25 | 2209796 Sophist Economicus
Sophist Economicus's picture

Gold Tumbles More Than $100 as $1700 Stops Triggered




I'm staring at my physical right now - I don't see no stinking stops...

Thu, 03/01/2012 - 03:52 | 2211588 Deo vindice
Deo vindice's picture

You could paint them black and use them for door stops.

There, now you have some stops. ;-)

Wed, 02/29/2012 - 17:34 | 2209857 NotApplicable
NotApplicable's picture

I wonder, how much does that weigh?

Wed, 02/29/2012 - 17:41 | 2209898 mick_richfield
mick_richfield's picture

I'm pretty sure that the total unbacked paper on the precious metals markets weighs enough to sink the United States and its criminal fiat currency.

Wed, 02/29/2012 - 18:43 | 2210137 DoChenRollingBearing
DoChenRollingBearing's picture

@ CClarity and everyone!

When they crush gold like this that they usually serve up a good opportunity to buy...  Wait another day or two (as the price always seems to move down some more after these kinds of drops), and then BUY!  That's what I'm going to do.

Wed, 02/29/2012 - 17:04 | 2209679 Hugh G Rection
Hugh G Rection's picture

It always makes me smile when our monkeys shake the tree and smash the hopes of all you basement dwelling hedge fund wannabes.

Yipee! Ag/Au are up 4% intraday, hi ho silver away, crash JP Morgue, blah blah blah.

We own your asses.

The Fed will never be ended. Ron Paul will never sniff the White House.  If you want long term security, figure out how to amuse us Zionist Jews... we may keep you around as a dancing bear.

Wed, 02/29/2012 - 17:09 | 2209714 gmrpeabody
gmrpeabody's picture

Big Dick..., I never can figure out why you are afraid of Jews.

Wed, 02/29/2012 - 17:18 | 2209769 nope-1004
nope-1004's picture

Maybe cuz he is one.


Wed, 02/29/2012 - 17:29 | 2209812 hbjork1
hbjork1's picture

IMO, he isn't really.  He just wants to sound like he knows something. 

As J.P. Morgan said to my great grandaddy during the crash of 07; "Stocks will fluctuate."  That goes for heavily traded commodities as well. 

IMO, this fluctuation has nothing to do with anything other than the Chinese and Russian actions and tight hedge (or sovereign fund stops).

Wed, 02/29/2012 - 19:14 | 2210233 knukles
knukles's picture

Probably just a case of Penis Envy.

Wed, 02/29/2012 - 22:01 | 2210725 Bringin It
Bringin It's picture

bjork - this fluctuation has nothing to do with anything

"this fluctuation" is tradeable.  See DonnaK's post above.

Wed, 02/29/2012 - 18:02 | 2209997 StockHut
StockHut's picture

The macroeconomic undercurrents will eventually trump interventionist governments and central planners.  For now, we take the shenanigans in stride (as they are becoming quite routine), accept our discount prices graciously, and promptly add to our supply.  Thank you Hugh Rection for your assitance.

Wed, 02/29/2012 - 21:44 | 2210627 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

"The Fed will never be ended. Ron Paul will never sniff the White House."

Yes, and the Reich will last 1000 years.  Ha, ha, ha!  U. S. Central Banks have been truncated twice before in our history and they will be truncated again along with the "heads" of the perpetrators and federal sock puppets like yourself!

Wed, 02/29/2012 - 23:53 | 2211087 Hugh G Rection
Hugh G Rection's picture

Thank you for bringing up the Reich.  Just another example of misguided Gentiles believing they could stand up to Jewish hegemony. 

We own the Media, Hollywood, Federal Reserve, Educational and Political System.  We control popular culture and socially engineer the Goy as we see fit.  We can flash crash markets on a whim.  We are beyond reproach.

Thu, 03/01/2012 - 01:00 | 2211288 dark pools of soros
dark pools of soros's picture

a naked jew with a boner runs into a wall....     what happens?


..he breaks his nose



Thu, 03/01/2012 - 02:20 | 2211480 Hugh G Rection
Hugh G Rection's picture

Whats the difference between Santa Claus and a Jew?


Santa Claus goes DOWN the chimney

Wed, 02/29/2012 - 17:45 | 2209924 He_Who Carried ...
He_Who Carried The Sun's picture

You're all just "stimulus-junkies"

and Bernank-lickers...

There you have it:

No QE = Gold and Silver jump out the window...  *hehehe*

Wed, 02/29/2012 - 18:54 | 2210176 Quinvarius
Quinvarius's picture

But we still are doing QE.  Everyone is used to these paper games.   The dollar is collapsing along with our economy.  These games are just to distract the stupid.

Wed, 02/29/2012 - 20:59 | 2210496 He_Who Carried ...
He_Who Carried The Sun's picture

Problem is: Da stoopid will be skiing in Davos

while you water his garden in Palm Springs...

What do you choose?

Wed, 02/29/2012 - 17:05 | 2209686 GovtMediaLiars
GovtMediaLiars's picture

Thumbs up! 
I agree, these smackdowns cannot continue indefinitely every time metals prices try to get some momentum going (or can they?).

I suspect when the time does come we will have little to no time to recognize it. Prices will just fail to get "smaked down" one time, and the result will be a parabolic rise.
In other words, if you try and wait till the "right time" to buy, you'll probably be too late. 

Stay safe out there!

Wed, 02/29/2012 - 17:10 | 2209723 HarryM
HarryM's picture

Why is anyone surprised ?

Gold has been ebbing and flowing with the DOW for a while now, not opposite as it should.

Gold ETF's the problem?



Wed, 02/29/2012 - 17:18 | 2209773 Leopold B. Scotch
Leopold B. Scotch's picture

D E L I V E R Y.

Wed, 02/29/2012 - 17:51 | 2209950 youngman
youngman's picture

I agree with this..they had to find some real fast I think

Wed, 02/29/2012 - 21:15 | 2210539 UP Forester
UP Forester's picture

So, when are the futures closed out?

Wed, 02/29/2012 - 21:25 | 2210555 AgShaman
AgShaman's picture

The shorts have 30 days to issue a notice of delivery to the longs that have the necessary funds in their accounts to prove they are "standing" (or conjure a 'private deal' amongst themselves)

Do NOT follow this link or you will be banned from the site!