Precious Metals Pounded As US Equities Open

Saudi warns its citizens to leave Lebanon "immediately" and gold and silver are panic-sold...

Because stocks must be ramped...

 

10,000 contracts ($1.3 billion notional) rushed thru in the 2 minutes before the US open...

Comments

ParkAveFlasher YUNOSELL Thu, 11/09/2017 - 11:25 Permalink

WRONG.  You are arriving late, but if you have been watching for years, you would know that $1.3B doesn't hammer what it used to hammer.  We'd be looking at a -$50/oz gut punch right now, if it were, say, 3 years ago, followed by another $25 of spastic fainting for weeks following.  Now the thing just bounces off. 

In reply to by YUNOSELL

pods Thu, 11/09/2017 - 09:34 Permalink

Makes sense, PMs dive on news of war. Lemme guess, S&P jumped up 10?Welcome to the circus, a cornucopia of clownfuckery.pods

Son of Captain Nemo Thu, 11/09/2017 - 09:37 Permalink

"Saudi warns its citizens to leave Lebanon "immediately" and gold and silver are panic-sold..."

Sounds like another good story sold by a Jewish "tailor" that moonlights as a magician!

tmosley Dirty Bumn Thu, 11/09/2017 - 10:08 Permalink

But I am making money while you do nothing but lose it.It's also a fact that gold and silver are suppressed, and that supression isn't going away while the Fed continues to exist. That was always the case, whether I was bullish or bearish silver.Time to face facts. The world is not going to turn to PMs to save them from central banker theft. They are turning AWAY from them.

In reply to by Dirty Bumn

Son of Captain Nemo ClowardPiven2016 Thu, 11/09/2017 - 10:38 Permalink

Might want to consult this guy (http://www.zerohedge.com/news/2017-10-30/could-be-huge-gold-bar-certifi…) about 1 ounce Au these days while you're " successfully stacking"... Ain't the business it was when it was happening to 10 ounce bars in Manhattan and obviously is a much more sophisticated operation 3 years later...

But looking on the bright side you are still way ahead in "salted bar(s)" than in encrypted data packet(s)!...

In reply to by ClowardPiven2016

Silver Savior tmosley Thu, 11/09/2017 - 09:53 Permalink

Who is giving up on PM's? Dummies? Last I heard Asia the new super power is hoarding like mad, Germany is the world's largest gold buyer and the one percent and other wealthy individuals are parking wealth in both bullion and high end collectible coins. So that leaves Joe Blow. Not knowing what to do he sells his small stash for some crypto or stocks and that is only if he has the disposible income to even get that far. Just my thoughts.

In reply to by tmosley