WHEN DOES THE 500th "coincidence" BECOME PROOF OF MANIPULATION??
February, April and June were Comex delivery months that saw the price of gold get hammered. August was a delivery month that saw the price of gold rally. October is a delivery month and gold is getting hammered again. What's the difference? Do you really want to know or does all of this make YOU want to go get hammered?
I think at this point it's safe to say that we're onto something. In 2013, if JPMorgan is issuing the majority of the delivery contracts in a delivery month, the price of gold gets hammered. If, instead, JPM is taking (stopping) deliveries to their own house account, the price of gold rallies which was the case in August.
October13 Comex gold deliveries began yesterday and we are back to the Feb/Apr/June pattern. For the first two days of the delivery month, there has been a total of 2,126 contracts delivered. That's 212,600 troy ounces or about 6.5 metric tonnes. Of the total, JPM has so far issued 1,991 of them or 93.6%. The primary stopper has been HSBC, claiming 1,570 of them (73.8%) for their own house account.
To no surprise, I guess, we now have this beatdown in progress. Since the $1353 highs of Sunday evening, gold has now fallen over $65 to $1288. Pretty remarkable given that there are no fundamental reasons for this selloff. And we can correctly assume that this is a Cartel bank inspiring this hammering. Why? For the same two reasons as always:
1. No single Spec has the firepower of a position large enough to dump into the market all at once to cause such a bid-swallowing decline.
2. And no for-profit Spec would ensure the worst trade execution possible by unloading 5,000 contracts in a single trade.
And, so, once again it's mission accomplished.
• Lower prices allow JPM to accumulate and deliver the gold necessary to settle their October obligations.
• Lower prices allow JPM to accumulate additional December futures contracts for their "corner".
• Lower prices will shake even more "gold" out of the GLD "inventory", the last update from which showed a new 2013 low balance of just 905.99 metric tonnes, down nearly 444 metric tonnes YTD or 32.88%.
So, we'll see where we go tomorrow and Thursday. I would still expect a minor rally and bounce back but, without a BLSBS on Friday because of the U.S. government shutdown, all bets are off, frankly. ANYTHING could happen.
There also will not be a CoT or a BPR this week. With the government "closed", there are no bureaucrats at the CFTC available to take the surveys and process the reports. When that might happen will be a function of when the government "re-opens". Until then, it's The Wild, Wild West in the metals pits. The Cartel Banks can put on or take off any positions they'd like without concern for grooming ahead of a CFTC survey. Long story short...expect much greater volatility as the Specs are jammed whichever way the banks would like.
TOO FUNNY!!!!!!! Keepshorting now has to resort to her old Tech_Trac aliases since everything else she has is being banned. I know it's awful when you get STEAMROLLED and lose all your money because you drank the Jimbo & Schiff koolaid, especially when your ego is as big as yours!!!!!!!!! We tried to tell you but you were always the smartest in the room!!!!! Keep fighting the rats for your next meal out behind the dumpster you troll. How's that hold of NUGT from $80 working out for you since you think Stops are for amateurs????
"October is a delivery month and gold is getting hammered again." I posted this 10 days ago and what has happened since???? You can choose to listen to a dead beat broke like keepshorting which ensures you keep losing money or you can wake up and pay heed to someone that posts something of significance that you can make money from. My awesome track record and keepshorting's horrible track record speak for themselves. Your decision will be simple.