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02:22 PM
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HOLY CARP! Gold Flash Crashes By Almost $100 As $4 Billion In Sell Orders Hit
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[quote:Don Draper from Nantucket:MV80ODczMTcwXzg5MDAxODYyXzgzRkY4RDZG] [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] I'm thinking the infastructure bill / stimmie money is going to be passed very soon and this is tptb just dropping it before it reacts positively to the stimmie announcement...but who really knows with these sick SOB's [/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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