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Well it's now $205 down from the open on friday to the lowest point so far today.

 

Monster volume so far 512,000 GCM3 (June) contracts traded. This is the highest volume of trade in one day in the history of the gold futures market and we are only part of the way through the day.....

 

GC4_zpsb522f1bc.png

 

 

I think when all is said in done we may hear news about the wipe out of a hedge fund or two.

 

 

looking like the proverbial "fat tail" event

 

 

how far does the time series go back? any idea the last time Gold hit -3 standard deviations ?

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looks like i missed a doozy here!

I am pretty awestruck. I'd really like to know just what/who/why whacked the gold and silver markets. It's not as if they were what I'd call 'frothy' with speculation after over a year of consolidation.

Something happened. Granted, the action was all a bit boring of late, so this has certainly livened it up a bit. Pity I am on the wrong side of it, but that's life. I don't want filthy cash!

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god knows!

 

something big must be happening behind the scenes but its incredible that gold/silver can fall so low and nobody knows why!

 

Possibly the Cyprus gold being dumped on the market.

 

http://blogs.telegra...-gold-reserves/AEP's Telegraph article;

 

Excerpt;

 

"EMU plot curdles as creditors seize Cyprus gold reserves

 

 

First they purloin the savings and bank deposits in Laiki and the Bank of Cyprus, including the working funds of the University of Cyprus, and thousands of small firms hanging on by their fingertips.

 

Then they seize three quarters of the country’s gold reserves, making it ever harder for Cyprus to extricate itself from EMU at a later date.

 

The people of Cyprus first learned about this from a Reuters leak of the working documents for the Eurogroup meeting on Friday.

 

It is tucked away in clause 29. "Sale of excess gold reserves: The Cypriot authorities have committed to sell the excess amount of gold reserves owned by the Republic. This is estimated to generate one-off revenues to the state of €400m via an extraordinary payout of central bank profits."

 

This seemed to catch the central bank by surprise. Officials said they knew nothing about it. So who in fact made this decision?

 

Cypriots are learning what it means to be a member of monetary union when things go badly wrong. The crisis costs have suddenly jumped from €17bn to €23bn, and the burden of finding an extra €6bn will fall on Cyprus alone.

 

The government expects the economy to contract 13pc this year as full austerity bites. Megan Greene from Maverick Intelligence fears it could be a lot worse.

 

She says the crisis has reached the point where it would be “less painful” for Cyprus to seek an “amicable divorce” from the eurozone and break free.

 

Quite so, and while we’re at it, lets seek an amicable divorce for everybody, for Portugal, for Ireland, for Spain, for Italy, and above all for Germany, since they are all being damaged in different ways by the infernal Project. All are victims of their elites."

 

 

 

The last sentence is chilling.

 

Remember Gordon Brown's atrocious telegraphing to the market of the impending sale of UK's gold? Perhaps this is either a mass exodus before Cyprus gold is sold (I hope not) or it has perhaps just been unceremoniously dumped on the market like an unwanted rag. If that's what's happened it's a very unsophisticated way to sell into the market. It that's what they've done then they clearly are very desperate, and that it's quite concerning because perhaps there is something very serious going on behind the scenes right now.

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the thing is, cyprus only has 13.9 tonnes of gold - not a great deal considering the massive falls. Some good stuff on kingworldnews - apparently 155 tonnes of paper gold was sold in one hour in london, and central banks bought up 55 tonnes of physical - as far as i understand.

 

something massive is happening, something i don't understand.

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If selling the Cyprus gold is part of the resolution for that situation then what about Portugal, Spain, Italy etc etc?

 

They have a lot more gold.

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If selling the Cyprus gold is part of the resolution for that situation then what about Portugal, Spain, Italy etc etc?

 

They have a lot more gold.

 

true - but they would be mad to do so.

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Heavy discount from spot on bullionvault, which is sort of a closed garden. I think the ferocity of this move on no real news has spooked a lot of joe public.

 

gb

 

http://ingots.eu

 

People selling less than spot! They must be desperate.

 

Peter Cambell of M3 Financial Sense thinks the Japanese have been selling gold....

 

 

 

 

"Everyone wants to know what started the GOLD crash...

 

 

A new high in Gold prices in YEN combined with an implied default in JGB’s (on April 5th) in an environment of high distrust of BOJ and other central banks and a great need for cash to settle debts in an insolvent Japan would sound like the perfect trigger to me. Wait till you see how the markets behave when JGBs follow the same path - and they will…the GOLD implosion will likely look small in comparison.

 

The funny thing is the types of liquidations we are seeing are not just liquidations, they are destruction of capital, which may in the end cause a muted US and German bond rally followed by margin call selling even overwhelming the best government bond markets. If there is no place to hide…then we get a freefall.

2013-04-15_1317_GoldInYen.png

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Hi All :)

I thought I'd pop in and see if everyone was jumping off tall buildings lol :)

A bit disapponted by the lack of suicidal tendancies lol :)

Maybe not a very representative group here, too intelligent and knowledgeable.

Funnily enough I've not been watching the price of fiat currencies much recently. I guess this is a temporary spike before a massive drop :)

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Mountain_Meditation.jpg

^Time for reflection. If you were on margin and got called in, what can you learn from it? What non-monetary profit can you take from this experience? What have you learned about yourself? Time to get away from the markets for a bit, climb that mountain discover the inner peace and karma.

 

In investing, one has to experience the pain, in order to enjoy the happiness of profit. That is why when you used buy music albums, you had to endure the rubbish songs, in order to enjoy the ones you like.

 

It's only money - it can be made back another time. And gold is for insurance, the original reason for it's ownership. If your house hasn't burned down, you don't go and not renew the buildings insurance next year?

 

Never get into a room that you cannot get out of later, i.e. never get into a trade that you cannot get out of later.

 

Remember this? Note this contains explicit language.

http://www.youtube.com/watch?v=vIMwMsY0ndo

 

 

http://www.youtube.com/watch?v=wKAu2cP0aHM

^And this one is really explicit....!

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Well for me these prices represent great value so earlier this morning I've bought gold at $1365. Gold was as low as $1321 overnight and at that point was $240 down since 12th April. That's an unprecedented move and it came with unprecedented volume.

 

This from Bubb's diary;

 

 

NOTE - from my broker...

 

Gold Trades at Most Oversold Lev... has been added

 

Title: Gold Trades at Most Oversold Levels on Record - Bespoke

Body:

 

The price of gold is currently trading more than 4.5 standard deviations below its 50-day moving average, which clocks in at the most oversold reading since at least 1975. The chart below shows the daily overbought/oversold reading for gold based on the number of standard deviations it traded above or below its 50-day moving average. As shown, there have not been very many occurrences where the commodity traded more than 3.5 standard deviations below its 50-day moving average. In fact, there have only been ten.

 

When silver was at it's peak I believe it was trading at over 4 standard deviations from the mean over a 7 year duration, see chart below from the 50ish peak in Silver thread;

 

from KingWorldNews.com;

 

Ben Davies

 

1__$%21%40%21__driver.gif

 

 

 

Also a big trade of late has been long gold and short silver, this has been a big winner for many.

 

This next chart shows the ratio of Gold to Silver, so as gold has outperformed silver the ratio has climbed steadily higher but look now, it may have peaked and formed a lower high.

 

Gold Silver ratio from 1st February to present

GOldsilver_zps8aac6699.png

The volume at the bottom of the chart is Gold futures (June contract)

 

 

This next chart shows the ratio from 20th March to present and shows it more clearly;

clsoer_zpsa034a1a4.png

 

 

 

All these aspects together suggest to me this is an appropriate point to be buying.

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This maybe way off the mark, however having given this a little thought, the only time I have seen a sustained selling like the last two days with unrelenting volume,was when Jérôme Kerviel (rouge trader4.9bn) trades where unwound in the S+P over a couple of days. It could be a rogue trader has been caught at the top of the market on the wrong side ?

 

Regards

 

ML

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This maybe way off the mark, however having given this a little thought, the only time I have seen a sustained selling like the last two days with unrelenting volume,was when Jérôme Kerviel (rouge trader4.9bn) trades where unwound in the S+P over a couple of days. It could be a rogue trader has been caught at the top of the market on the wrong side ?

 

Regards

 

ML

 

That rogue trader is Shinzo Abe, imo.

JPY Must not depreciate vs. gold after Abenomics implemented.

(thoughts?)

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'Heavy discount from spot on bullionvault, which is sort of a closed garden. I think the ferocity of this move on no real news has spooked a lot of joe public.'

 

True. I bought as low as 30200 Euros/kilo few hours ago about 11% less than current price. How is this possible?

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Happy, it will be very interesting to see the public opinion chart on gold, when its updated...

 

Indeed. Ridiculous I imagine!

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The GOLD sentiment is "off the charts" negative

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