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HOLY CARP! Gold Flash Crashes By Almost $100 As $4 Billion In Sell Orders Hit
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[quote:Tooknotice:MV80ODczMTcwXzg5MDAxNzc3X0UxRDIwRjlD] They will be pulling this shit all month as well... lots of Rich and Powerful are on Vacation in August... Every Year. [/quote]
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[
link to www.zerohedge.com (secure)
]
In the liquidity void that follows the resumption of futures trading, and which saw US futures trade modestly lower, a sudden burst of selling in the gold futures contract sent Gold pries plunging to as low as $1,677.0 or almost $100 lower from the Friday close of $1,761.50.
there was no offsetting move in any securities after the futures reopen (the 10Y traded back over 1.30% but the move was orderly) when over $4 billion notional, or some 24,000 contracts..
were suddenly and furiously dumped in a completely price-indiscriminate manner whose apparent intention was to nuke the entire bid-stack.
While there was no news or even pair-trade correlation catalyst behind the move, technicians have noted a "death cross" alongside a technical breach of USD 1,750/oz which triggered liquidation stops to the downside.
[
link to www.kitco.com (secure)
]
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