Futures market

GoldCore's picture

Gold Hammered Down In Sunday Night’s 2-Minute, $2.7 Billion “Unprecedented Attack”

Since yesterday there has been another of wave of negative, misleading and almost triumphalist commentary on gold most of which studiously ignores the clear evidence of manipulation of the price on Sunday night.

Tyler Durden's picture

"The Spell Is Broken" In China, Selling Pressure To Remain "Relentless": BofAML

"Now that the spell is broken, we expect that many holders may want to sell to the forced buyers in the market. In addition, although difficult to assess accurately, due to a lack of data, we estimate that around 1/5 of the free float is still carried on margin. The high margin cost means that selling pressure is high as long as investors do not expect the market to go up significantly.we expect the market to experience another leg down, possibly within months."

Tyler Durden's picture

Last Night's Gold Slam So Furious It Halted The Market Not Once But Twice, And The Funniest "Explanation" Yet

Yesterday, just before the Chinese market opened, precious metals but mostly gold, flash crashed in milliseconds with a violent urgency never before seen. We documented the unprecedented event last night, but for those who missed it, the following chart from Nanex clearly lays out just how sudden the "out of nowhere" selling was, which led to not one but two 20-second halts in the gold futures market spaced out precisely 30 seconds apart as a result of a Velocity Logic (or lack thereof) event.

GoldCore's picture

Gold 'Flash Crash' as $2.7 Billion Worth of Gold Futures Sold in Less Than 2 Minutes

In what looked like another successful bid to manipulate the gold market lower, there was massive selling of gold futures contracts - some 700,000 ounces worth of gold futures in mere seconds. The equivalent of one-fifth of a whole day’s trade in a normal session, was sold in a concentrated manner in less than two minutes - pushing prices lower again.

Marc To Market's picture

Dollar Bulls in Charge, but Stretched Technicals May Test Conviction

The dollar made new multi-year highs against the dollar-bloc and is bid against most major and em currncies.  Why?  

GoldCore's picture

CHINA Boosts Gold Reserves 57%, Top Russian Reserves in First Disclosure Since '09

 This is the continuation of the trend of China positioning the yuan as global reserve currency ... The Chinese are pushing for full convertibility of the RMB and increasing their gold holdings will create confidence in the fledgling reserve currency and aid them in this regard.

GoldCore's picture

Bail-Ins Coming – GoldCore Interviewed By Financial Repression Authority

The Fed’s Stanley Fischer has said that the U.S. was preparing such legislation – after Tucker had indicated that such legislation was in place. The EU is also at an advanced stage in forcing countries to ratify bail-in legislation. The legislation is being devised to protect the larger banks against the interest of both depositors, taxpayers and the wider economy.

Tyler Durden's picture

Are Big Banks Using Derivatives To Suppress Bullion Prices?

Seven years of bailing out the big banks that control the Federal Reserve and US Treasury at the expense of the US economy has threatened the US dollar to the extent that the dollar must be protected at all cost, including US regulatory tolerance of illegal activity to suppress gold and silver prices.

Tyler Durden's picture

Chinese Media Blames Soros, "Hostile" Foreigners For Stock Bloodbath

You might be tempted to suspect that the inevitable unwind of a completely unsustainable margin mania is to blame for the brutal selling that has cost Chinese shares some $3.5 trillion in market value over the last three weeks. But you’d be wrong, according to several Chinese newspapers. 

Monetary Metals's picture

June 26 Silver Flash Crash: A Forensic Analysis

On Friday morning, at around midnight PDT, the price of silver had a mini crash, dropping more than 10 cents in one second. This is our forensic analysis.

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