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Gold Tumbles More Than $100 As $1700 Stops Triggered
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.
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It's becoming obvious that the digital money printers are all in to win.
Who or what can stop them when not even gold offers true resistance?
Gold and silver are obscenely overpriced, and overvalued!
Days like today should indicate how much speculation (bullshit) is in the price. None on ZH will listen, but those buying PMs are gonna get creamed. See ya at $750!
Widowmaker's employer (hint, not a "speculator"):
PUUUUUUUUMP AAAIIIIIIIIIIRRRRRRRR x4
Widowmaker:
"Lookee bubble!!!!"
PM-Tools:
"Liar! This is totally natural, because in theory, gold should be so much higher"
Widowmaker's employer (hint, not a "speculator"):
PUUUUUUUUMP AAAIIIIIIIIIIRRRRRRRR x6
Widowmaker:
"Woahh bubble!!!!"
PM-Tools:
"Liar! This is totally natural, because in theory, gold should be so much higher"
Widowmaker's employer (hint, not a "speculator"):
SUUUUUUUUCK AAAIIIIIIIIIIRRRRRRRR x10, trigger stops!!!
Widowmaker:
"See, i told you so, bubble! And evil speculators!"
PM-Tools:
"Grrrrrrrr! It wanted to break free soooo much, and you killed it, you meanie!"
The handful of speculators (all three of them!) still left in the casino:
"WTF????? Let's get out of here!"
CME-Margin hike department:
"Why, hello Ms. Blythe! What can i do for you today?"
Blythe:
"Well, gold seems fine, but i just wanted to warn you that silver is very volatile - you know, just so that you can protect yourself."
CME-Margin hike department:
"The usual 33$ i assume?"
Blythe:
"You're getting the hang of this."
Since you spent so much effort running around the yard I feel like I should at least feed you a treat, or cheese or something...
From a birds-eye pov, the yard looks rather small, and distances between players require no movement of the FOV :-) The work and self-discipline is in achieving that birds-eye view, not in using it.
Thank you for yet another blind assertion in defense of the corrupt status-quo, Mr. Nadler.
Yes, and good luck to you with your treasury bonds and cds!
@Widowmaker....
Is that you Jon Nerdler?
Ben just saved the CME from having to go to the trouble of another margin hike....for now. They'll save that bullet from the inevitable pm bounce back up once everyone figures out that in Euro land they are printing like crazy.
Fiat gold? Can Bernanke print that too?
38.2% given back almost on the tits. Wait for at least 50%. Last time around, it was 100%.
Nice twist with the sell limits.... got you that extra 10$..... now, could you folks please go prove that "2 + 2 + 3 + 3 - 10 = 0" elsewhere?
bought Gold 380, Silver, dont even bother to ask, 2004,, lost 3.7 M £ with AIG Bonds,, paper shit,,yes 2008,,I wish I bought more Physical to help the homeless and the hungry,
Obama, camerooooooooooooon, and the rest of the sociopathic un-Godly morons, they dont give a shit,, Buy AG, AU, IF everyone on ZH, take off Bullion off the market,, its a start,,
So when gold goes to 360 then what? you shit your pants and go back into mortgage bonds cause thems all the rage?
Don't laugh - just watch the pumper gets his head whacked.
I think you left off a zero. Mushroom clouds in the ME will prove it.
"When" gold goes back to $360, I'll be buying, because the genocidal policies of central bankers everywhere will not have changed.
Well, that's a lie, I'll actually be buying the silver for $7 at a GSR of 1:50.
I'll be happy to buy that much. As will many others. So many, it will likely drain ~100% of current inventories in a few days, and create a cyclopian backorder wait time.
I must disagree. There is terrific support for gold at $522!
Did I miss sometin? The ECB just punched the print button like .... what 2 TR?? This was a jack off by the NYFD!
boy the pumpers took you out to the wood shed today. As I said a couple days ago, when the pumpers start pumping it's selling time. Yet another example of this.
Intermediate correction in physical, stock should be fine.
However, great buying opportunity in small portions down to 1500-1600 maybe who knows since we'll probably peel another $150 of gold and $15 bucks off silver.
And no I"m not a troll. I am the anti pumper here to keep your heads screwed on straight. Gold does that to people, makes them wierd or sumthin.
I love the smell of fried fish in the mornin.
Use to be that these PM price corrections would get my blood flowing but now I just take them in stride (as well as being an opportunity) as all being part of the game. I always felt TPTB and the mighty USD would have one final run left in them this year and next as Europe's financial battles continue to be fought (and lost), turmoil in MENA continues to spiral out of control, and the Asian trading region continues to correct from its crack addiction to China. During this period and at least on paper, the USD would pop, PMs would drop, and USTs would be reinforced as the ultimate safe haven (as remember, the US needs to dump another incremental increase of $1 trillion plus/minus on the market this year).
So rather than battle TPTB and avoid paper markets like the plauge (easily manipulated), I tend to stick the following facts:
1.) The largest economies and governments in the world will be in more debt tomorrow than today (which was greater than yesterday). A 100% certainty. And this doesn't even count the off balance sheet liabilities the US and numerous other countries are on the hook for over the decades to come.
2.) The asset base (whether a hard asset, taxable revenue base, etc.) is in no way, shape, or form capable of servicing the debt loads of these economies. There is no possible solution of increasing revenues, decreasing expenses, selling assets, etc. to cover the debt service requirements but one. Inflate your debt problems away.
3.) TPTB will publicly continue to spew the same PR spin that a solution is at hand and all is well (ala Kevin Bacon in Animal House). Privately, they all now the system is broken beyond repair.
4.) Finally, the world's CBs and Governments will monetize away the debt burden in one form or another over the coming decades. They will use measures such as currency swaps, ZIRP, debt restructuring (e.g., Greece issuing 30 year debt in exchange for current debt), offshore vehicles, exchange rate targets, and just about anything else left in the arsenal to claim they aren't, but in reality they are.
In the mean time, I have to figure the large holders of USD/USTs have to love this action as every time these windows open, it provides a window to transfer paper wealth into real assets (at sale prices). Remember, the game now is which countries can quietly dump excessive holdings in USD/USTs without causing too much of a stir. The great asset reallocation game is just getting started as the world's vast real wealth, ranging from oil to PMs to farm land to base materials to technology, is about to undergo the largest transfer civilization has every witnessed.
You Sir hit the nail on the head....I used to believe in Econ 101....not anymore as the Central Banks have teken over the Econ.......and you are right...everyone is trying to secretly get rid of their paper.....whether they say it publicly or not....timing is what I do not know or will ever...will it be one year to a big event...or 5....I don´t know....good luck...I have gold and silver.....I can´t stand the lies I heard today in Congress.....so its all I can invest in....
how about when Gold, will be part of the new global trade curency, who will set the price? Free Markets or GS,,then what will your paper buy?
QT: 1) Do $100+ downdrafts usually occur in bull...or...bear markets? 2)Is there a Wall of worry? 3)Last night's CBOE numbers for GLD were a precursor....usually about even...last night?....not so much... Sheep shearers at work... 4) AAPL is 38% above its' daily EMA 233...Have a look at it's max historical deviation. We shall re-visit this theme...IMHO
I will say this, the coordinated ass kicking alway happens on the Bernank day. Go check. I think Turd even mentioned it. Can't remember, but, the shorts were screwed next week, they knew it, the CB's knew it, and the intervened after a 700 billion print button was pressed. It should have gone up a 100 bucks not down a hundred.
That tells you all - be damn careful. You are fighting the elites here. They hold the gun, you hold the newspaper shield.
DO NOT BUY ON LEVERAGE@!!!!!!
peace
Ben-
Once you go exponential, we don't want you back.
Copper Pennies UP!
Funny how gold got smacked and oil clawed back to a small gain....
Funny also how we NEVER see 5% down days in oil, or wheat, or cotton, or zinc, or pork, or ..... well, anything but gold and silver. And yet those waterfall crashes in the precious metals come almost like clockwork.
I think you have a very selective memory....
That being said, it does seem that Au and Ag seem to have them more often...
It just might have to do with their relative lack of utility....
-----
And don't even fucking try to play PM troll games with me...as I likely have more physical that you can imagine...
It's a prudent diversification, not a fucking religion...
No, it is monetary and financial WAR, with all the big guns on the side of evil and darkness --- but they are running out of ammunition, and the tides of history, justice and reality are all flowing against them.
You really should spend time more at sites like the Pragmatic Capitalist to spread the gospel as you sound just like a missionary...
lol, coming from the Ba'alite.
Trolololololo
And you sound very suspiciously like an under-the-bridge dweller.
Your gratuitious ad hominem slur fits right in with the usual pattern, and agenda, of the typical (desperate and intellectually bankrupt) Establishment defender.
(This comment was directed at Flakmeister, NOT tmosley --- this site seems to be rearranging some comments today.)
My, we are touchy...
Not much of an ad hominem, you are the one talking like "End of Days", the Apocalypse and the Crusades all rolled into one....
And lay off the strawmen... you would be hard pressed to label me as an "Establishment Defender"...
PS Tmosely is a perfect tag-along for you....
Wow. I don't think that Silver could lose $100 in a day. I'm not a pro though. Who knows?
Just wait until the CME raises margins on silver to 150%, and drive the (paper) price into negative territory --- it is simply a matter of time.
You mean the 10,000 gold contracts and the 5000 silver contracts that JPM dumped in tow minutes just as the the FED monetary statement was released. How fucking blatant is this manipulation?
To me this was a raid on the paper...as TPTB have to find some real stuff to settle the contracts.....the stock I watch....CEF had triple the volume today...to me that is computers doing the dirty work.......I bought today....cause I know in two weeks to a month it will be back up.....nothing has changed on the fundimentals......nothing.....they did not sell 2 million Volts last month if you know what I mean...Squids go to hell....and take your computers with you
Say what you want, we can see who is still firmly in control. Bugs got squashed and those who didnt ran to mommy.
Something fishy going on at Turds site - looks like the takedown has been wider than expected
Sales BiTcHeZ!
Can ZH users please re-think these funny cartel, robots and paper rumours?
Just ask yourself why no hedge fund manager would use the info to load up with paper silver / gold silver longs and ask for physical delivery...with let's say USD 20b you can buy easily 700m ounces of silver considering a 10% margin.
Seems like no one is smart enough. Funny!
It's amazing: When gold or silver goes up, it's because the financial world is near collapse. When it goes down, it's the evil cartel.....
A middle finger formation in gold.
Cmon people, the PTB will try and inflict maximum chart damage.
Count on it.
BTFD and enjoy...
It seems obvious to me that the gold price is considered a matter of national security by the gov. A huge spike in gold price would represent loss of faith in the dollar. Ergo, any measures necessary will be used to avoid an overly fast rise in gold.
Now when you consider that cell phones are tracked, phone companies provide data to the gov, and all the tracking and control mechanisms used by the gov on the Internet, can you really believe the gold market is not rigged? I would guess that the gov has real time data feeds on every position placed, the entry price, etc, etc, etc. How easy would it be to blow out longs or shorts when you know every position? And if one is really clever, you could raise the price in advance of a raid to whatever extent is necessary to get the needed longs in place.
I see this as a very easy game to play by those with info and loads of money. Those playing the paper markets without this info are really asking for it. Most are only very useful idiots for the manipulators.
I guess that kind of fucks up Iran's buying power.
Considering I got all of mine between $250-400 an ounce, I piss on Bernanke
Interesting that Google Trends today 29th Feb lists the below, so much for gold in a bubble!
1. snooki pregnant 2. branson mo 3. davy jones dead 4. school closings 5. branson missouri 6. michigan primary results 7. leap year 8. great pacific garbage patch 9. leap day 10. rail gunGoogle news http://news.google.com/nwshp?hl=en&tab=wn is mainstream media brainwashing to the tenth power, brought to you by Ben Bernanke
The >$1 Trillion ECB money needs time to trickle out into food, oil, gas, etc.
Thank you Mr. Bernanke.
Please, Please, continue to lie to American People about no QEIII coming. Between you and I, that stealth QE III is working out great: Devaluing paper money, shifting retired people into more riskier assets. How can I thank you... However my parents,who are old and confused, believe that you are a total piece of shit, I tell them that you and Lloyd Blankfien are doing God's work... So thank you, A big THANK YOU. I am taking advantage of the paper drop in the silver markets to began to buy silver at a discount. I know that the Chinese will be buying silver in about three months with their yaun so I'm sure the price will go up. Maybe they'll also sell some worthless American Dollars.
Mr. Bernanke, please speak tomorrow.
Thank you,
Keeping Appearances
Thank you Mr. Bernanke.
Please, Please, continue to lie to American People about no QEIII coming. Between you and I, that stealth QE III is working out great: Devaluing paper money, shifting retired people into more riskier assets. How can I thank you... However my parents,who are old and confused, believe that you are a total piece of shit, I tell them that you and Lloyd Blankfien are doing God's work... So thank you, A big THANK YOU. I am taking advantage of the paper drop in the silver markets to began to buy silver at a discount. I know that the Chinese will be buying silver in about three months with their yaun so I'm sure the price will go up. Maybe they'll also sell some worthless American Dollars.
Mr. Bernanke, please speak tomorrow.
Thank you,
Keeping Appearances
Fundamentals:
"Silver and gold are cooling their heels today, each pulling back after torrid runs in 2012 to date. Is it time to take the profits and run or add on the dips? The answer is the latter according to Simon Baker, head of Baker Avenue Asset Management. "It's a New World Order," he says, one in which a massive global effort to pump liquidity into financial markets demands investors own commodities. Baker sees gold taking out the historic, if nominal, highs of 2011. With every central bank on earth pumping money into their respective systems, gold is the most natural way to go."
http://finance.yahoo.com/blogs/breakout/stay-long-gold-silver-despite-di...
Just another coordinated take down.
Bet there was some serious cash made on this today for those in the loop.
Meh.
$100 down. $100 up. Whatever. Irrelevant to me. Once upon a time, it was conventional investment advice to use gold as the 10% foundation of an investment pyramid; up to 30% in turbulent times. Silver is a more volatile, yet useful, instrument of money management too, imo.
On weird days like today, I remember the sage advice of James Sinclair, James Turk and Jim Rogers. Sometimes, the return OF money is more important than the return ON money, particularly in this age of outrageous counterparty risk.
PMs: my insurance policy, and defence against grotesque spendthrift governments, and their central bankster puppet masters.
I notice that Jon Corzine of MFGlobal and his JP Morgue accomplices still enjoy the benefits of PMs stolen from their clients' accounts, for example.
And gold's starting to bounce back slightly. The markets are completely fucked. Only the person who owns gold for the right reason is going to end up on the winning end of this equation. What the fuck is going on out there?
the GLD is going to ZERO because that is how much Gold they actually have
physical GOLD is going up into the thousands or possiby tens of thousands per ounce because... HINT: IT'S JUST PAPER
Of course GLD is just paper. That's why you should own physical. But that doesn't explain what happened today. I want to know why gold plunged over 4% and silver plunged almost 10%. It just doesn't make sense to me, hence the "markets are fucked" comment. I mean what changed between yesterday and today besides the fact that an arrogant man opened his mouth?
Buying opportunity. If you like gold, that is.
GLD(PRETEND GOLD) Tumbles More Than $100 as $1700 Stops Triggered In Unicorn Land
THERE TYLER I FIXED IT FOR YOU
The question is when will the market be forced down.
1) You have Nov elections
2) You have PPT in place
3) You have QE3 which requires a market decline.
4) You have a gun cocked and pointed at Iran.
5) You have possible loss of reserve currency with Iran circumventing the dollar.
6) You have an attack on Iran already priced into oil
Conclusion: Before the election not long after the invasion of Iran (read Soon).
All I can tell from watching this price action is that someone is making a bloody fortune. Gold has regained about 30% of its losses on the day, so far. The only explanation is that this is the result of coordinated action. There is no other logical explanation. It is not "algos-gone-wild," it is not "the Fed is not giving us QE3." Only coordinated, fraudulent action would produce these kinds of returns.
This volatility is not a good sign.
Let me guess, Chinas just bought a $100B stack.
This smashing of PM's was an act of Goverment sponsored terrorism.
They are not allowing any form of savings for the people and plan to steal what you have left through inflation.
Gold and silver stand in the way of this.
Ask Allan Greenspan.
how does someone buy gold or silver on margin? How do you secure a COMEX contract?
You mean not everyone buys, then hides in the hills of east TX?
Walk away from Margin.
Never borrow someone's shit to sell at a higher price to another chump.
Again, use your credit card or hard cash.
A COMEX Contract? What? 100,000 ounces of silver?
BWAHAHAHA those things have been beholden to dozens of people time and time again before you even see any of it.
qe is off the table.
http://www.jinrongbaike.com/
http://www.cnhedge.com/
gold will rise again.
http://expose2.wordpress.com