Posted by praetor54 on 19th of Jul 2015 at 10:59 pm
Gold futures opened 2.5% lower in Asia. With Chinese markets
down, maybe the thought is there will be less money for gold buying
after the margin calls are settled.
I heard Chinese funds were short shorting commodities last week
to hedge their longs, so maybe doing the same again this
week...
"All commodity futures markets in China were
limited down earlier in the week as Chinese hedge funds have
increasingly hedged long stock market positions by aggressively
shorting commodities, as they are now prevented from shorting
equities. "
Derivatives!! Anyone who can fog a mirror will
know whats happening here...
Posted by varmercur on 20th of Jul 2015 at 06:01 am
I hear from the gold traders that the commercials added 30-32k
long positions on Friday alone. We need to see this officially
confirmed - but the source is usually good.
Whatever the reason,
gold just had its biggest flash crash in nearly two years,
as a targeted stop hunt launched by the dumping of $2.7 billion
notional in product, accelerates the capitulation of the momentum
buyers (and in this case sellers) pushing gold to a level not seen
almost since 2009.
The price appears to have rebounded after the initial shock, up
about $20 from the intraday low of $1,086 but we expect that to be
retested shortly, and for gold to plunge further into triple
digits, at which point gold miners will simply cease to produce the
metal whose all-in production
cost is in the $1100 and higher range, when it will also become
clear that only derivatives and "paper" are the marginal "price"
setters.
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Gold Futures Down in Asia
Posted by praetor54 on 19th of Jul 2015 at 10:59 pm
Gold futures opened 2.5% lower in Asia. With Chinese markets down, maybe the thought is there will be less money for gold buying after the margin calls are settled.
Looks like Jordan Roy-Byrne got it right.
Short Sellers...
Posted by saturn6 on 20th of Jul 2015 at 03:55 am
I heard Chinese funds were short shorting commodities last week to hedge their longs, so maybe doing the same again this week...
"All commodity futures markets in China were limited down earlier in the week as Chinese hedge funds have increasingly hedged long stock market positions by aggressively shorting commodities, as they are now prevented from shorting equities. "
Derivatives!! Anyone who can fog a mirror will know whats happening here...
If in doubt look here
Same with Citigroup...
Posted by saturn6 on 20th of Jul 2015 at 04:08 am
Of note: ....the 1260%.... increase .....in Precious Metals derivative holdings in the past quarter,
from just...... $3.9 billion........... to $53 billion!!!!! AND - It's mainly.... "Silver" !!!!!
Http://www.zerohedge.com/news/2015-07-04/why-did-citigroups-precious-metals-derivative-exposure-just-soar-1260
Don't bet against the Chinese
Global deflation and a strong
Posted by a_l_ on 20th of Jul 2015 at 10:23 am
Global deflation and a strong dollar are all the bets you need against the Chinese.
It ain't a conspiracy. It's
Posted by a_l_ on 20th of Jul 2015 at 10:30 am
It ain't a conspiracy. It's a market.
Blythe Masters...
Posted by saturn6 on 20th of Jul 2015 at 10:34 am
Could it be the Morgan clan are using paper silver to reduce price in order to obtain the physical for the new rulers China?
That would make sense according to what Blythe Masters said in 2012 ... Link
Did you notice the Freudian slip by the news anchor at the start?
She's actually an Australian spy
Posted by a_l_ on 20th of Jul 2015 at 10:41 am
She's actually an Australian spy for the Chinese government.
Little buying interest
Posted by torvix on 20th of Jul 2015 at 08:48 am
I hear from the gold
Posted by varmercur on 20th of Jul 2015 at 06:01 am
I hear from the gold traders that the commercials added 30-32k long positions on Friday alone. We need to see this officially confirmed - but the source is usually good.
From Zero Hedge
Posted by whs956 on 19th of Jul 2015 at 11:13 pm
Whatever the reason, gold just had its biggest flash crash in nearly two years, as a targeted stop hunt launched by the dumping of $2.7 billion notional in product, accelerates the capitulation of the momentum buyers (and in this case sellers) pushing gold to a level not seen almost since 2009.
The price appears to have rebounded after the initial shock, up about $20 from the intraday low of $1,086 but we expect that to be retested shortly, and for gold to plunge further into triple digits, at which point gold miners will simply cease to produce the metal whose all-in production cost is in the $1100 and higher range, when it will also become clear that only derivatives and "paper" are the marginal "price" setters.