Gold and Silver Flash Crash ($1.8 billion) in one minute
9 a.m. London Time gold flash crashed as 15,000 ($1.8 billion) contracts were dumped in under one minute on the U.S. Comex market.
Over 5,000 ($9.7 million) silver contracts were dumped as well.
$USDJPY promptly jumped over 111.50 last 111.70. Gold was last down over $18.00 in the FX market.
Fat finger or manipulation?
these moves are done to paint the chart e.g. move price in such away that it breaks a certain moving average and triggers selling orders from longs so a larger short can cover its position. BB do this in case they are heavily mispositioned and the price can potentially overrun them as with yesterdays situation pre Comex . The potential for Gold to Jump on bad ( I believe it was) core retails sales was potentially more than $ 10 to $ 15 which would have made a Gold price of 1264 or so which at that point was a potential outbreak to the upside hence the BB would have to supply new shorts as otherwise the price would go even higher etc etc So what do you do, well at any excuse at a moment when Nobody is in the market Globex 10 am EU time you dump a big lot based on some irrelevant figure ( I Believe it was some German economic data that nobody ever looks at BUT was much higher than expected, hence a reason to act) now when the core retails sales figure came out (pretty bad as expected) gold jumped only now from somewhere at 1236 instead of 1255....would the figure been better BB could have slammed gold below 1236 a key support level and would have caused an avalanche of more also seller and hence the BB could have covered a max of paper...this si why I believe they will nota allow the price of Gold to go much higher from here that will only happen when the BB are net long....ciao
fat finger, lol! it's orchestrated like always...
After the past Friday COT report (which was bullish gold and silver) showing commercials decreased their shorts, I can almost guarantee this coming Friday's report will show they have increased their shorts. The COT report reports activity up to the Tuesday before the Friday the report is released. Those low-life's in-the-know had this slam down planned, just waited for the HFT to give them the perfect opportunity in a thin market.
Perhaps we can get some summer bargains?
These "engineered flash crashes" usually rebound fairly quickly. It's best to have dry powder to buy on these dips after you see some stabilization.
It's a mystery for me that these this are aloud to happen. Isn't any laws out there? How is it possible and for how long can it keep on going? Speechless!
Can anyone say . . . manipulation. . . say it with me. . . .manipulation . . .
Now, everyone together . . . manipulation . . .
Thank you
Lol this is funny!
Let them smash it, it's a scare tactic. It's the oppurtunity of a life time to invest into Gold and especially silver.
When everyone else is looking up... I'm looking down to see the swift hand in motion. Deception is their game.
I would love it below 1000; back up my truck and load it up. haha!
We would both be there with the truck!
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in the bigger scheme of things this will be insignificant.
Our gold and silver community is growing with more key people joining. Check it out and resteem if possible:
https://steemit.com/steemsilvergold/@hgmsilvergold/announcement-steemit-s-gold-and-silver-community-is-growing
looks like an opening gap + no recovery afterwards
I wouldn't call it a crash
London opens an hour before.
can be related to another exchange
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