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What does it cost to dump the gold price $20?


mr-dead

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Gold price just been smashed,  down nearly $20 breaching the $1300 .

What did it cost the paper cartel?  $1.75 billion :)  (and $200 million in silver)

 

"Gold Loses $1300 As Cartel DUMPS $1.75-Billion Worth Of PAPER GOLD In ONE SINGLE MINUTE"

https://www.silverdoctors.com/gold/gold-news/gold-loses-1300-as-cartel-dumps-1-75-billion-worth-of-paper-gold-in-one-single-minute/

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to see gold dip below 1300 usd is sad, but the cartels can do as they wish. They cant hurt us, they can never hurt us we are too strong for them.

right?

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It costs nothing, its just paper $ and paper Gold. 

Treasury yields are doing well, perhaps someone sold their paper long in gold to move into yield now that it is starting to be worth doing so.

Also the odds of this happening was pretty good according to the TA. I am hoping this is just the beginning, get another chance at cheap physical. 

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Its a cliche but my stack is still my stack and remains unchanged, let them smash the price so I grab some more a little cheaper.

Smack downs only become a problem if you have over extended yourself into a position where you are forced to sell at the wrong time.

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3 minutes ago, mr-dead said:

Its a cliche but my stack is still my stack and remains unchanged, let them smash the price so I grab some more a little cheaper.

Smack downs only become a problem if you have over extended yourself into a position where you are forced to sell at the wrong time.

Exactly its the paper price being moved around, the physical market is the same as it ever was. These moves just give people an opportunity to buy physical at a better price. 

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Today the 10 year US Treasury yield spiked through 3%. We saw the USD strengthen against other currencies and precious metals get hit. For anyone who denies both gold and silver are money, that they are currencies, why would we see such significant movements when bond yields and currencies are moving?

A short position is where a GC (100 oz gold) contract is sold. The buyer goes long. If the short seller buys the contract back they have covered their position and are out of the market. The number of open short and long contracts always match exactly.

If the margin of this sort of futures trade is 20% then the seller must have at least 20% of the selling price in their account. So $1.75 billion x 0.2 = $350 million. Much small margins are likely to be operating which is why banks get so over leveraged and when trades go wrong it spells catastrophe.

This is central banking/US Treasury Department directed price management (manipulation) - we have seen this many times before. If these short contracts are bought back at lower prices there is profit in the move. The issue arises when longs stand for delivery. This is the cost, not a paper cost. The Fed with the US Treasury can push buttons and create $trillions. The problem comes when the longs don't want paper currency and they don't want to roll the contract into the next cycle. The problem comes when they want gold and even more so when they want silver (there isn't as much silver about). Longs standing for delivery has been happening more and more which is why the EFP trade has exploded.

These antics bring forward the reset. Drop the price and the physical buyers step in. More gold and silver will be heading to Russia and Asia. This is the cost. It is another crack in the US dollar system and a step nearer its collapse.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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Here we have a typical example of zombie financial journalism. SA is Seekingalpha.com

Quote

Gold drops to lowest settlement of the year

May 15, 2018 2:31 PM ET|By: Carl Surran, SA News Editor

Gold futures fell to their lowest settlement of the year, with June Comex gold -2.1% or $27.90/oz. to $1,290.30/oz. as today's spike in U.S. Treasury yields chase investors away from the yellow metal.

When speaking of gold the US centric mind oscillates between GLD and gold futures. All paper. Then the writer ascribes the falling price of gold futures to the spike in US Treasury yields. That because the 10 year Treasury yield went through 3%, investors raced in the Treasuries and sold gold futures. We know this is not true. We know there was a massive sell order placed dumping a massive number of contracts on the market at market - so they sold at any price. This is not a commercial trade this is market manipulation.

Then the zombie posts

Quote

Downward momentum in gold picked up after breaking below support at its 200-day moving average at $1,306/oz.

The drop below $1,300 "set off a large number of pre-placed sell stop orders in the futures market, to drive prices still lower.

Yes - a massive sell order was placed. The banks know where all the orders and stops are. They know there are lots of stops under the 200 day moving average, so they need to hammer price down through that to trigger stops and take price lower. They are painting the chart and creating negative sentiment. Remember how recently the calls from the same zombies were bullish and price was going to the Moon.

Quote

The U.S. dollar index has resumed its trek north today, which is, and has been, a significantly bearish force working against the precious metals bulls," says Kitco Metals analyst Jim Wyckoff.

So here we are - things are "significantly bearish.." - these people are useless mouthpieces with no insight.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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