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Thread: [Gold Market Irregularity] THIS IS SERIOUS: Gold spot price quotes are inconsistent (3-24-20)

  1. #1

    Exclamation [Gold Market Irregularity] THIS IS SERIOUS: Gold spot price quotes are inconsistent (3-24-20)

    I noticed something very strange.
    Gold spot price quotes on various plattforms are no longer in sync.

    As of March 24th, 7:55 am Eastern

    Kitco: 1663 https://www.kitco.com/charts/livegold.html

    Goldprice.org: 1594 https://goldprice.org/spot-gold.html

    Bloomberg: 1600 https://www.bloomberg.com/quote/XAU:CUR

    apmex: 1678 https://www.apmex.com/

    finanzen.net (large German plattform, scroll down to real time chart): 1625 https://www.finanzen.net/maerkte/

    I have never seen that before. No clue what is going on.
    Futures might get into backwardation (spot price higher than futures, ultra bullish): https://www.cmegroup.com/trading/met...ious/gold.html

    Got everything I own with me, you should do so as well. The paper game might be in serious trouble.



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  3. #2
    Quote Originally Posted by swissaustrian View Post
    I noticed something very strange.
    Gold spot price quotes on various plattforms are no longer in sync.

    As of March 24th, 7:55 am Eastern

    Kitco: 1663 https://www.kitco.com/charts/livegold.html

    Goldprice.org: 1594 https://goldprice.org/spot-gold.html

    Bloomberg: 1600 https://www.bloomberg.com/quote/XAU:CUR

    apmex: 1678 https://www.apmex.com/

    finanzen.net (large German plattform, scroll down to real time chart): 1625 https://www.finanzen.net/maerkte/

    I have never seen that before. No clue what is going on.
    Futures might get into backwardation (spot price higher than futures, ultra bullish): https://www.cmegroup.com/trading/met...ious/gold.html

    Got everything I own with me, you should do so as well. The paper game might be in serious trouble.
    Yeah the market seems jumpy now, IMF & FED meddling and a vote of no confidence from the markets.

    Irrational exuberance vs panic selling.
    Last edited by RonZeplin; 03-24-2020 at 06:40 AM.
    Quote Originally Posted by Swordsmyth View Post
    You only show up to attack Trump when he is wrong
    DACA S**thole Dreamers - Make America Great Again?

  4. #3
    Marketwatch.com showing a price of 1662 for the futures. That seems the most reliable IMO

  5. #4
    Quote Originally Posted by Warlord View Post
    Marketwatch.com showing a price of 1662 for the futures. That seems the most reliable IMO
    price wise i agree. but Bloomberg is most respected by far

  6. #5
    Quote Originally Posted by swissaustrian View Post
    ...
    I have never seen that before. No clue what is going on. ...
    The answer is so simple you see. With Covid19 keeping people at home remote working, COMEX doesn't have the human staff on hand to "calibrate" the computers/data. (tongue firmly in cheek)
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  7. #6
    That is strange, $50 difference between APMEX vs. Kitco/Goldprice. Business channel within $5 of APMEX.

    Never did these comparisons before though.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    “They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  8. #7
    Quote Originally Posted by Brian4Liberty View Post
    That is strange, $50 difference between APMEX vs. Kitco/Goldprice. Business channel within $5 of APMEX.

    Never did these comparisons before though.
    I can ensure you, usually their quotes are equal, appart from cents.

    The bid/ask spreads on kitco were also huge at some point, in excess of 20 USD.

  9. #8
    "The Gold Market Is Breaking Down": Gold Spreads Explode As LBMA Warns Of Liquidity Problems

    https://www.zerohedge.com/commoditie...idity-problems



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  11. #9
    Quote Originally Posted by BortSimpson View Post
    "The Gold Market Is Breaking Down": Gold Spreads Explode As LBMA Warns Of Liquidity Problems

    https://www.zerohedge.com/commoditie...idity-problems
    Yeah it's like the premium with silver yesterday. Though I've never seen these divergent quotes before on different sites...

  12. #10
    ...
    Meanwhile, Ole Hansen, head of commodity strategy at Saxo Bank, pointed out that a lockdown is occurring in two biggest gold hubs in the world – New York and London – so many traders are working from home. This has caused a breakdown in the marketplace, he said.

    “There is no price discovery in the market right now,” he said Tuesday morning. ...
    https://www.kitco.com/news/2020-03-2...ng-demand.html

    Stupid goldbugs
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  13. #11

    Roy Sebag: Comex agreed to break contract terms to protect banks

    https://twitter.com/roysebag/status/1242579670702358535

    The official news is now out that comex agreed to break contract terms to protect banks. Now the story they are selling us there are plenty of LBMA bars in London. I cannot confirm that to be the case if things continue the way they have over the last 2 days.



  14. #12
    Funny. I can't find this "official news" in the news. As in nowhere.

    Seems newsworthy to me...
    Quote Originally Posted by Swordsmyth View Post
    I don't really care if I happen to be wrong about your positions, you are wrong about mine.
    Quote Originally Posted by nikcers View Post
    My tax dollars paid to fund ISIS and make fake beheading videos. Are you saying we shouldn't get our monies worth??

  15. #13
    What part of the “contract” are they breaking? Have they been naked shorting again, and don’t have enough cash now to bribe them when they fail to deliver?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    “They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  16. #14
    Related?

    CHICAGO, March 24, 2020 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of a new gold futures contract with expanded delivery options that include 100-troy ounce, 400-troy ounce and 1-kilo gold bars. The new contract is expected to launch with a first expiration of April 2020, pending regulatory approval.

    "This time of unprecedented market conditions has led to growing demand for a broader range of delivery needs for our clients worldwide," said Derek Sammann, Senior Managing Director and Global Head of Commodity and Options Products, CME Group. "By offering a choice of delivery sizes as well as inter-commodity spreads with our benchmark gold futures, this new contract will provide customers with maximum flexibility in managing physical delivery."

    The new futures contract will be available for trading on CME Globex and for submission for clearing via CME ClearPort, and will be subject to the rules and regulations of COMEX. The approved brand list for this product will have complete convergence with the approved brand list for CME Group's existing gold futures and the LBMA gold good delivery list.
    ...
    More: https://www.marketwatch.com/press-re...ars-2020-03-24
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    “They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  17. #15
    They don't have the gold and there is a run on it. Probably explains a few things.

  18. #16
    Quote Originally Posted by Brian4Liberty View Post
    What part of the “contract” are they breaking? Have they been naked shorting again, and don’t have enough cash now to bribe them when they fail to deliver?
    My guess is no gold and shorting . I mean , every thief will steal when enabled .



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  20. #17
    The physical silver supply is about to get squeezed to death . I have not checked on gold yet but am still expecting 1700 Gold.

  21. #18
    Quote Originally Posted by Bern View Post
    It is really sadening that this is essentially a supply chain disruption issue. Refineries in Switzerland can not work, American gold buyers can not get shipments from Europe etc. Precious metals markets are not relevant to the average Joe. But many other markets are impacted by similar supply chain disruptions which include hygiene products and sooner or later also medications. People are going to die because of this.

    Mining shares have rallied quite a lot recently. I think this is only partially justified, since many mines are shut down.
    Newmont (NEM) has revoked their 2020 production guidance because of mine shutdowns:
    https://finance.yahoo.com/news/newmo...143402632.html

  22. #19
    CME resolving physical gold squeeze with delivery of 100-ounce, 400-ounce and 1-kg bars

    https://www.kitco.com/news/2020-03-2...-1kg-bars.html

    Increasing pressure from market players and significant liquidity issues in the gold market are prompting CME Group to make some changes in how it delivers its physical gold.
    Tuesday evening, the futures exchange announced the launch of a new gold futures contract with expanded delivery options that include 100-troy ounce, 400-troy ounce and 1-kilo gold bars.

    The new contract is expected to launch with the first expiration of April 2020, pending regulatory approval, the exchange said.

    The news comes after an intense trading day in the gold space as the market has seen strong physical demand and dwindling supply.

    According to reports, bullion banks across the board reported massive liquidity issues Tuesday in the physical market.
    The problem, according to many banks, was the Exchange For Physical (EFP) market, which allows traders to switch gold futures positions to and from physical. Spreads in EFP are typically around $2, but on Tuesday, because of a lack of supply, the spread increased as high as $40.

    Part of the issue is the lack of specific gold bars.
    CME contracts are for 100-ounce bars. However, Good Delivery listed bar from the London Bullion Market Association are 400 ounces.

    The move from the CME will help relieve some of the liquidity issues as future contracts could be filled with 400-ounce bars from the London Bullion Market Association.

    According to reports, The LBMA and executives at major gold-trading banks asked CME to allow 400-ounce bars to be used to settle Comex contracts.

    Earlier in the day, the LBMA said that it was working with the CME to resolve the liquidity issues.

  23. #20
    Quote Originally Posted by swissaustrian View Post
    I noticed something very strange.

    Gold spot price quotes on various plattforms are no longer in sync.

    I have never seen that before. No clue what is going on.
    Yes! Agreed!!!

    I will report that I am the owner of a user issued "market pegged asset" smartcoin HONEST.XAU tracking the price of gold (and silver and a few others).

    This smartcoin is on the Bitshares blockchain, you can view the exchange price (and trade) between HONEST.XAU and HONEST.USD here:

    https://wallet.bitshares.org/#/marke...XAU_HONEST.USD



    I am seeing the widest pricing range for metals - in the past week - that I have seen since I began the honest mpa offerings.



    Our feed price scripts are open source here:

    https://github.com/litepresence/Honest-MPA-Price-Feeds


    We are currently reporting the median XAU:USD price from 14 unique providers:


    morningstar,
    barcharts,
    bloomberg,
    xe,
    finviz,
    forextime,
    fscapi,
    fxcm,
    fxrate,
    ino,
    investing.com,
    oanda,
    openexchangerates
    currently 10% between min and max for gold and 14% between min and max for silver; we report median

    typically the spread is less than 1%


    more detail on my project can be found here:
    https://bitsharestalk.org/index.php?topic=32035
    Last edited by presence; 03-25-2020 at 07:58 AM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  24. #21
    great info and good luck with your project @ presence

  25. #22
    I merged two threads discussing gold markets.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    “They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  26. #23
    that data I posted earlier was actually from around 5PM yesterday.

    the markets are tightening up over the past few hours; we're back to civilized... under 1% spread

    finviz is the only remaining outlier in my feeds; but it is also now within about 2%

    SILVER
    Code:
    "USD:XAG": [
        [0.0694146, "aastock"],
        [0.069512, "barchart"],
        [0.0693457, "bloomberg"],
        [0.0697958, "duckduckgo"],
        [0.0683761, "finviz"],
        [0.0693169, "forextime"],
        [0.0693145, "fscapi"],
        [0.0693193, "fxcm"],
        [0.0693001, "fxmarket"],
        [0.0697248, "fxrate"],
        [0.0693866, "ino"],
        [0.0693145, "investing"],
        [0.0693094, "oanda"],
        [0.0697249, "openexchangerates"]
    ]
    GOLD
    Code:
     "USD:XAU": [
        [0.000619383, "aastock"],
        [0.00062049, "barchart"],
        [0.000619333, "bloomberg"],
        [0.000620794, "duckduckgo"],
        [0.00061207, "finviz"],
        [0.000619256, "forextime"],
        [0.000619099, "fscapi"],
        [0.000620115, "fxcm"],
        [0.000619139, "fxmarket"],
        [0.00061956, "fxrate"],
        [0.000619224, "ino"],
        [0.000619026, "investing"],
        [0.000619106, "oanda"],
        [0.00061956, "openexchangerates"]
    ]
    Last edited by presence; 03-25-2020 at 11:18 AM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  27. #24
    Quote Originally Posted by presence View Post
    that data I posted earlier was actually from around 5PM yesterday.

    the markets are tightening up over the past few hours; we're back to civilized... under 1% spread

    finviz is the only remaining outlier in my feeds; but it is also now within about 2%

    SILVER
    Code:
    "USD:XAG": [
        [0.0694146, "aastock"],
        [0.069512, "barchart"],
        [0.0693457, "bloomberg"],
        [0.0697958, "duckduckgo"],
        [0.0683761, "finviz"],
        [0.0693169, "forextime"],
        [0.0693145, "fscapi"],
        [0.0693193, "fxcm"],
        [0.0693001, "fxmarket"],
        [0.0697248, "fxrate"],
        [0.0693866, "ino"],
        [0.0693145, "investing"],
        [0.0693094, "oanda"],
        [0.0697249, "openexchangerates"]
    ]
    GOLD
    Code:
     "USD:XAU": [
        [0.000619383, "aastock"],
        [0.00062049, "barchart"],
        [0.000619333, "bloomberg"],
        [0.000620794, "duckduckgo"],
        [0.00061207, "finviz"],
        [0.000619256, "forextime"],
        [0.000619099, "fscapi"],
        [0.000620115, "fxcm"],
        [0.000619139, "fxmarket"],
        [0.00061956, "fxrate"],
        [0.000619224, "ino"],
        [0.000619026, "investing"],
        [0.000619106, "oanda"],
        [0.00061956, "openexchangerates"]
    ]
    Is that XML? Where can I find that data?



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  29. #25
    Rumors of official COMEX default being announced soon. COMEX has been essentially in default for months already but I guess it's almost time to lift the veil of bs.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

  30. #26
    Sounds like a situation where gold miners will shine.

    GDX up 4.6% today.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    “They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  31. #27
    Quote Originally Posted by presence View Post
    that data I posted earlier was actually from around 5PM yesterday.

    the markets are tightening up over the past few hours; we're back to civilized... under 1% spread

    finviz is the only remaining outlier in my feeds; but it is also now within about 2%
    spot prices are in sync again, but there is still a 23 USD spread to the next futures contract (April). Usually that is only a few USD.
    And the futures curve is partially in backwardation (earlier maturities are priced higher than later).

  32. #28
    Quote Originally Posted by Brian4Liberty View Post
    Sounds like a situation where gold miners will shine.

    GDX up 4.6% today.
    This should benefit miners somewhat. But they are facing shutdowns from corona measures and the closed refineries are not processing their ores (I dont know when they get paid, before or after refining).
    But the super low oil prices should help them.

  33. #29
    Quote Originally Posted by BortSimpson View Post
    Is that XML? Where can I find that data?
    JSON

    visit bitsharestalk thread here:

    https://bitsharestalk.org/index.php?topic=32035

    near bottom we keep links updated for live feeds from each of our feed producers:



    The data is updated hourly

    I am one producer. The other 3 are respected members of the Bitshares community. Each of us uploads median data to the blockchain and the chain takes the median of our respective feeds as gospel.
    Last edited by presence; Yesterday at 07:59 AM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  34. #30
    Quote Originally Posted by presence View Post
    JSON

    visit bitsharestalk thread here:

    https://bitsharestalk.org/index.php?topic=32035

    near bottom we keep links updated for live feeds from each of our feed producers:





    The data is updated hourly

    I am one producer. The other 3 are respected members of the Bitshares community. Each of us uploads median data to the blockchain and the chain takes the median of our respective feeds as gospel.
    Thank you!



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