Gold Bounces Off Key Technical Support On Massive Volume

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...

Comments

Cafe Baghdad Tue, 11/14/2017 - 11:02 Permalink

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. https://en.wikisource.org/wiki/Twentieth_Century_Impressions_of_Hongkong... 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 Cafe Baghdad Tue, 11/14/2017 - 11:05 Permalink

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.

In reply to by Cafe Baghdad

Conax Consuelo Tue, 11/14/2017 - 11:22 Permalink

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.

In reply to by Consuelo

dark fiber Plunge Protection Tue, 11/14/2017 - 11:22 Permalink

$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.

In reply to by Plunge Protection

gdpetti ParkAveFlasher Tue, 11/14/2017 - 11:19 Permalink

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.

In reply to by ParkAveFlasher

Al Huxley Tue, 11/14/2017 - 11:10 Permalink

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...

Consuelo Tue, 11/14/2017 - 11:16 Permalink

  Not to belabor an already overused axiom, but...  Yawn...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 Tue, 11/14/2017 - 11:34 Permalink

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. 

Soul Glow Tue, 11/14/2017 - 11:46 Permalink

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 Tue, 11/14/2017 - 11:50 Permalink

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.