Gold, Euro Slump As Merkel Admits "New Elections Are The Better Way"

EURUSD is testing overnight lows (and gold is tumbling) after German Chancellor Angela Merkel said she would prefer to go ahead with new federal elections rather than try to form a minority government.


Seeking her fourth term, Bloomberg reports that Merkel is “skeptical” about a minority government as it may not bring about necessary stability and is open to another so-called grand coalition with the Social Democratic party, she said in an interview with ARD television.

In the absence of an agreement to secure a majority in Germany’s Bundestag, “I’m certain that new elections are the better way,” she said.

And FX markets reacted...


Give Me Some Truth Max Hunter Mon, 11/20/2017 - 13:38 Permalink

One would think that any new war would cause the price of gold to soar. Actually, those things that SHOULD cause gold to soar have the opposite effect. If gold goes up it is only very briefly. If the gold market is rigged, it is rigged. The price will be what the riggers' want it to be (and they don't want it to be "high," "rising rapidly," "rising steadily," etc. Same with the stock market, if "they" want it to be rising, it will be going up.But gold and silver are the two canaries that can never be allowed to sing their warning tune.

In reply to by Max Hunter

Give Me Some Truth c2nnib2l Mon, 11/20/2017 - 13:23 Permalink

No reason - or ANY reason - suffices when it comes to knocking down the price of gold and silver. No one in the MSM, and no "regulator" will raise an eyebrow or utter a sentence expressing befuddlement when these smash-down (cap and contain) activities take place. Given this reality, I don't even know why the "explanation writer" even bothers writing his headlines.

In reply to by c2nnib2l

NEOSERF Mon, 11/20/2017 - 11:56 Permalink

Gold declining in the face of elections is of wealth, offset for inflation?  Not when millions of forward bullshit contracts on paper gold can be dumped.

Albertarocks Clock Crasher Mon, 11/20/2017 - 13:54 Permalink

I have plenty of gold miners and I'm not the slightest bit concerned.  The ones that were just sitting on support levels will get stopped out.  So far none have.  I have plenty of cash on the sidelines designated for a few companies I wanted to buy at a lower levels where there is plenty of support.  Those ones are moving towards those levels and hopefully I'll land them this week.  I have gold miners and I'm not exactly "kicking and screaming by the hair".  I'm thankful for these opportunities.  I guess some people know how to trade them and some people don't.

In reply to by Clock Crasher

Albertarocks Give Me Some Truth Mon, 11/20/2017 - 19:30 Permalink

I'm wondering if Keith Neumeyer is the one true leader you're talking about.  He's the guy who built Majestic Silver into a $billion company as well as First Quantum Minerals, another $billion company.  His latest piece of magic is the assembly of First Mining Finance which is a "mineral bank" company absolutely destined to become yet another $billion venture.  He has asked other mining execs to join him in sticking it right in the face of the cabal by refusing to sell metal to them by holding some of their PMs right off the market.  He does (he holds back what he can).  Only one of those execs agreed to join him (sorry, I can't think of his name at the moment).

In reply to by Give Me Some Truth

wolf pup Mon, 11/20/2017 - 12:27 Permalink

If Merkel's into "new elections", best bet is to man polling places with those who grasp the intricacies of how easily election fraud can be performed.
She's slated to lose such a "new election". Why would she relish this?
Beware the Merkelwocky.

foxenburg Mon, 11/20/2017 - 12:37 Permalink

Some entity with very deep pockets and excellent credit rating saw an opportunity to place a large number of buy orders at the $1 280 peg. Then he sold a similar number of contracts as the price teetered upwards looks like $1 291. And thus bought them all back at $1 280. A most profitable four hours work for a Monday morning. (Or afternoon if he's a limey). I'm just a village idiot watching this on Kitco, but even I can see that it's a simple transaction as long as your marker is good for a few billion. There's no need to put on the tin foil hat.

wdg Mon, 11/20/2017 - 12:41 Permalink

The markets...sorry I meant casinos...are rigged by the International Criminal Banking Syndicate headquartered at the Bank of International Settlements (BIS) in Basal, Switzerland. There are no markets anymore...just endemic rigging and corruption as far as the eye can see. But the sinister banksters are not all powerful and free markets will one day reassert themselves, in the near future. And when this happens, the western world will be looking at the implosion of the banking/financial/political systems which will be followed by a New Dark Age that could last decades. And there will be a fearful reckoning for the gangster elite who plundered the western world and left behind an economic and social disaster. They can run and they can build bunkers...but they cannot hide. And one day they will have to answer for their heinous crimes against humanity. Truth and morality can be suppressed in the short term but ultimately will win over unspeakable evil. 

William Dorritt Tue, 11/21/2017 - 12:47 Permalink

Merkel is a Traitor to:

  • Germany
  • The German Race
  • Western Civilization
  • Christianity
  • Women's Right
  • 9 year old boys and girls
  • The European Union

This list goes on..........Forgot to add:

  • Goats, Donkeys and other farm animals who will be violated
  • Cadavers of dead German Women and Children