Jul 25

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US Mint Sells Most Physical Gold In Two Years On Same Day Gold Price Hits Five Year Low (ZeroHedge, July 24, 2015):

Just like in the case of silver three weeks ago, today’s gold liquidation was not due to selling of physical metal. In fact, quite the contrary: according to the US mint, so far in July the mint has sold a whopping 143,000 ounces of physical gold – the most in over two years, or since April of 2013 – even as the price of gold briefly slid to the lowest level in 5 years.

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Jul 24

This Has Never Happened To Gold Before (ZeroHedge, July 24, 2015):

For the first time since records began, hedge funds are net short gold futures, according to CFTC data…

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This is what happened the last time gold saw a ‘low’ net long position…

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Is this why Gold is spiking this afternoon? Continue reading »

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Jul 24

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Gold “Capitulation” As Down 8% In July – Smart Money Buying Dip (ZeroHedge, July 24, 2015)

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Jul 24

Gold “Flash-Crashes” Again Amid Continued Commodity Liquidation As China Manufacturing Slumps To 15-Month Lows (ZeroHedge, July 23, 2015):

As Bridgewater talks back its now widely discussed bearish position on fallout from China’s equity market collapse, Chinese stocks rose at the open (before fading after ugly manufacturing data). However, liquidations continue across the commodity complex in copper, gold, and silver. Though not on the scale to Sunday night’s collapse, the China open brought another ‘flash-crash’ in precious metals. All signs point to CCFD unwinds, and forced liquidations as under the surface something smells rotten in China, which has just been confirmed by the lowest Manufacturing PMI print in 15 months.

Gold flash crashed…

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As we noted previously, while the actual selling reason was irrelevant, the target was clear: to breach the $1080 gold price which also happens to be the multi-decade channel support level. Continue reading »

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Jul 23

The Hunt For The “Mystery” Gold “Bear Raid” Leader Begins (ZeroHedge, July 23, 2015):

In the immediate aftermath of Sunday night’s massive gold slam, which was oddly reminiscent of the great silver crash of 2011 when on May 1 just around 6:25pm, silver plunged by 15%, from $48 to $42 with no news or catalyst…

Silver 5.1

Continue reading »

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Jul 21

GOLD

What Happened The Last Time The Mainstream Media Unleashed The Anti-Gold Artillery (ZeroHedge, July 20, 2015):

With the mainstream media onslaught against precious metals climaxing this weekend as WSJ’s Jason Zweig proclaimed gold “like a pet rock,” describing owning gold as “an act of faith,”we thought it worthwhile looking back at the last time ‘everyone’ was slamming gold and entirely enthused by the omnipotence of central bankersMay 4th, 1999 – “Who Needs Gold When We Have Greenspan?”

Over 16 years ago, The New York Times’ Floyd Norris unleashed the last big gold slamming piece topping a period of precious metal bashing… Continue reading »

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Jul 20

gold-bars-111

The Case Of China’s Missing Gold (ZeroHedge, July 20, 2015):

Chinese Gold reserves jump 604 tons from 1,054 tons last reported in 2009 to 1,658 tons. Many gold observers ask: “Is that it”? Since 2009 China has mined over 2,000 tons of gold and imported over 3,300 tons of gold through Hong Kong*. Where did it all go?

 

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Jul 20

$550 Million Gold Futures Notional Dumped After Close – Back Below $1100 (ZeroHedge, July 20, 2015):

Minutes after the cash equity close, gold prices tumbled, having leaked lower all afternoon, breaking back below $1100. Overnight flash crash lows were $1080.

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Futures show around 5000 lots dumped…

Continue reading »

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Jul 20

Last Night’s Gold Slam So Furious It Halted The Market Not Once But Twice, And The Funniest “Explanation” Yet (ZeroHedge, July 20, 2015):

Yesterday, just before the Chinese market opened, precious metals but mostly gold, flash crashed in milliseconds with a violent urgency never before seen. We documented the unprecedented event last night, but for those who missed it, the following chart from Nanex clearly lays out just how sudden the “out of nowhere” selling was, which led to not one but two 20-second halts in the gold futures market spaced out precisely 30 seconds apart as a result of a Velocity Logic (or lack thereof) event.

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For those following the gold market, last night’s event was not surprising: after all just on this website we have documented at least three occasions when furious algorithmic gold selling broke the gold futures market for at least 10 seconds, to wit: Continue reading »

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Jul 20

Related info:

China Increases Gold Holdings By 57% ‘In One Month’ In First Official Update Since 2009


 

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Gold, Precious Metals Flash Crash Following $2.7 Billion Notional Dump (ZeroHedge, July 19, 2015):

The last time gold plummeted by just over $30 per ounce (dragging down silver and bitcoin with it) and resulted in a crash so furious it led to a “Velocity Logic” market halt for 10 seconds, was on January 6, 2014. Many said this was just perfectly normal selling, although we explicitly said (and showed) that it was a clear case of an HFT algo gone wild (following an order to do just that and slam all sell stops) when someone manipulated the market and repriced gold substantially lower.

Precisely one month ago, some 18 months after the incident, the Comex admitted as much, when it blamed the collapse on “unusually large and atypical trading activity by several of the Firm’s customers and caused the mass entry of order messages by Zenfire, which resulted in a disruptive and rapid price movement in the February 2014 Gold Futures market and prompted a Velocity Logic event.” Curiously despite the “errant” order, gold did not rebound because the entire purpose of the selling slam was to reset the prevailing price far lower. This is what the Comex said in Disciplinary action 14-9807-BC: Continue reading »

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Jul 17

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China Increases Gold Holdings By 57% “In One Month” In First Official Update Since 2009 (ZeroHedge, July 17, 2015):

Back in April we wrote that “The Mystery Of China’s Gold Holdings Is Coming To An End” as a result of China willingness to add the Yuan to the IMF’s SDR currency basket which would require the disclosure of China’s gold holding ahead of an IMF meeting on SDR composition which may be held in October.

By way of background, the reason why everyone has been so focused on Chinese official gold holdings is that there has been no official update to the gold inventory of the world’s biggest nation, which have been fixed at 33.89 million oz since April 2009, a little over 1000 tons. In other words, the PBOC’s gold inventory has been “unchanged” for over 6 years which is in stark contrast to the ravenous buying of physical gold China has been engaging in for the past 5 years. Continue reading »

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Jul 17

Silver Slammed As ‘Someone’ Dumps $1.4bn In ‘Paper’ Gold Futures (ZeroHedge, July 17, 2015):

Following “good” Housing data, “bad” CPI data, and “ugly” wage growth data, someone decided to dump $1.4 billion notional in gold futures markets (sending the price to 2010 levels), sending silver plunging also…

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Jul 07

Gold & Silver Slammed On Massive Volume As Margin Calls Mount (ZeroHedge, July 7, 2015):

FX markets are roiling today, US and German bonds are surging (yields are tumbling), and European stock and bond markets are ugly again. Between all of this we are seeing ‘jerky’ moves in many disparate instruments as it appears margin calls are mounting and forced unwinds accelerate across markets, the latest of which is gold (and silver) which just saw someone decide to dump almost $1 billion notional instantly into the open market.


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Jul 04

What JPMorgan is doing to the “Other” commodities space, Citigroup has just done to the “Precious Metals” derivative market.


Citigroup Just Cornered The “Precious Metals” Derivatives Market (ZeroHedge, July 4, 2015)

 

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Jul 02

H/t reader squodgy:

“Interesting that the actual paper Gold &Silver is being suppressed while it looks like hard metal prices are hardened slightly higher.

This renders the mining industry as marginal at best and a total rock bottom liability at worst, pointing to cheap sell offs for the benefit of the moneyed few who can then mothball them causing the price hike they can benefit from.”

With the price for an ounce of silver being below the cost of production, how can silver not be called a bargain?


Change in gold holding

Gold & Silver Smashdown – Mining Industry Collapse (Level9News, April 29, 2015):

As we’ve seen the price of gold and silver smashed down in order to drive people out of their physical and paper holdings, we are seeing a buying frenzy towards the acquisitions of physical gold and silver, not only by private investors and individuals, but a massive push towards acquisition by leading BRICS nations while simultaneously dumping US Treasuries. This is creating, or at least we are being told, a physical shortage of these metals in the market.

There appears to be an orchestrated attempt to relieve private holders of their gold and silver physical and paper assets at the focal point of the power centralization structure to consolidate these holdings in the hands of the few elite who are manipulating the markets. Continue reading »

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Jun 18

Ignore-Sinking

Financial System “Will Implode” … “Hold Precious Metals” – Faber (GoldCore, June 15, 2015):

– “Whole Financial System Will One Day Implode” – Marc Faber
– “I feel like I’m on the Titanic …”
– Arguing over the best assets akin to re-arranging deck chairs on Titanic
– Investors need escape plan and “safety boat”
– Forget Fed rate hike, Fed QE 4 is coming
– Diversify and hold “commodities, precious metals”

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Jun 17

From the article:

If the federal government were to try and do something like [confiscation], the reality is: There is a motto in the office of almost every state legislator in Texas, and it’s a flag that we have [from the Texas Revolution], it’s below a cannon and what the motto says is, ‘Come and Take it.’


 

Come And Take It

Texas Gold Repatriation Bill Has One Message To Feds: “Come And Take It” (ZeroHedge, June 17, 2015):

As the mainstream media begins to come to terms with just what Texas’ decision to repatriate its gold from the Federal Government in its own Gold Depository, the details of Republican State Rep. Giovanni Capriglione’s bill protecting gold from confiscation become clear…

In an interview with The Epoch Times, Caprigilione explains why he pushed the bill and its far-reaching implications…

Epoch Times: What did you do to make the bill pass? Continue reading »

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Jun 13

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Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable” (ZeroHedge, June 13, 2015):

The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now – as we noted was possible previouslyTexas has enacted a Bill to repatriate $1 billion of gold from The NY Fed’s vaults to a newly established state gold bullion depository…”People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold,” and the Bill includes a section to prevent forced seizure from the Federal Government. Continue reading »

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Jun 11

Indian Silver Demand Explodes to US Silver Owners’ Delight (GoldCore, June 11, 2015):

– India may absorb as much as one third of total global silver production this year
– Strong demand for silver steadily increasing year by year
– Indian citizens and solar industry take advantage of current low prices in silver
– U.S. silver imports still enormous despite ostensible decline in demand

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The first four months of 2015 saw India import possibly as much as 3,000 tonnes of silver bullion. If the momentum is maintained India is on track to import a staggering 9,000 tonnes over the course of 2015.

Continue reading »

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Jun 03

“Bernanke & Greenspan Have Destroyed America” Schiff & Maloney Warn “People Don’t Realize What Is Coming” (ZeroHedge, June 3, 2015):

Ali and Frazier, Laurel and Hardy, Mayweather and Pacquiao, Liesman and Santelli, and now Schiff and Maloney. Peter and Mike join clash of the titan-like to discuss their investment strategies and expose the charts the government doesn’t want you to seeas “people like Bernanke are taken seriously still and the people that did predict [the crisis] are dismissed as lunatics half the time.” The wide-reaching conversation covers everything from gold and stocks to The Fed and The Dollar – Bernanke “took the coward’s way out because all he did was exacerbate the problems to postpone the day of reckoning.” The air is coming out of the bubble, they warn, “Bernanke and Greenspan have absolutely destroyed America. People don’t realize what is coming…”

Full interview here:

Full transcript below:

Continue reading »

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