Comex Gold drops by 36%

[Large Sarge]

http://networkedblogs.com/OU8Q3

[EE_]

So that's why the price of gold is dropping back into the toilet.

http://sprottmoneyblog.com/wp-content/uploads/2013/07/head_scratch.gif

[Ares]

So that's why the price of gold is dropping back into the toilet.

http://sprottmoneyblog.com/wp-content/uploads/2013/07/head_scratch.gif

Yep exactly

Heads I win, Tails you lose.

[Ponce]

I never read anything that Sarge posts only with the tittle but.........did you see silver? crap, crap and tripple crap...... for how long can they control it "in paper"?.........we all know that there is a shortage of silver and that everyone is lookking for it even in the bushes.

V

[Hatha Sunahara]

Anyone who has bought physical gold or silver recently knows that the major dealers on the internet are charging a hefty premium (last I looked it was around $75/oz) for gold, and something similar percentagewise for silver coins. You cannot buy an ounce of gold for the Comex price. If you sell, you can charge a hefty premium as well. There is a decoupling of the physical price from the Comex price going on, and the gap will widen until there will no longer be a Comex price because there will be no metal in the Comex vaults.


Hatha

[EE_]

$51 over spot for gold eagles
$2.20 over on silver maple leafs
http://golddealer.com/bullionpage.html

[Neuro]

So that's why the price of gold is dropping back into the toilet.

http://sprottmoneyblog.com/wp-content/uploads/2013/07/head_scratch.gif
Yes new world market order, when supply is at an all time low and demand is high, that is the time the price will plunge the most. Seriously it must be a sign that we are coming close to a collapse of the paper spot and future market... And we can see it in increased divergence between paper vs physical. But be prepared, a collapse will happen very suddenly when it happens, one default of a major metal trader will set it off, and probably within days, you'll see spot price at levels you never seen before (think single digit gold), while physical prices goes to the moon, if you can find any at all where you are at. Following it will not take long before fiat currencies start collapsing.

[mick silver]

when you see this happen you best be buying all the food you can ...............
Yes new world market order, when supply is at an all time low and demand is high, that is the time the price will plunge the most. Seriously it must be a sign that we are coming close to a collapse of the paper spot and future market... And we can see it in increased divergence between paper vs physical. But be prepared, a collapse will happen very suddenly when it happens, one default of a major metal trader will set it off, and probably within days, you'll see spot price at levels you never seen before (think single digit gold), while physical prices goes to the moon, if you can find any at all where you are at. Following it will not take long before fiat currencies start collapsing.

[Neuro]

when you see this happen you best be buying all the food you can ...............
Yes, absolutely right!

[Spectrism]

There are some funny dynamics being played out.

I haven't seen any actual records of how many physical contracts were actually fulfilled with metals. If they just buy out the contracts, they float the paper market below sea level as long as they want. There must be enough physical hitting the market to meet demands for coins and jewelry but there is obviously a premium for the real thing.

Interest rates are rising. Money velocity is very low. The consumer infrastructure is destroyed. Money creation (demand for debt) is crashing. This is a deflationary scenario but the fed and gov are printing to sustain certain things. Consider the food stamps, government support programs and banker pumping. Without the gov controlling these handouts, the system would have crashed 4 years ago. And with the banksters leveraged beyond coverage, the slightest burp could cause the financial world to unravel.

So what we have is a deflationary depression with devaluation of dollars being artificially borrowed to keep certain sectors on life support. The life support is being power by the people who are increasingly falling ill and can no longer crank the human power generators. The momentum of the flywheel is the remaining value ascribed to the federal reserve note masquerading as the "US dollar".