Gold Double-Slam Takes Out All Bids Following Price Spike
It seems that those who must be obeyed are sticking to the plan (that we outlined in our tweet from Friday).
Only levels that matter AAPL over $500, DJIA over 15,000, gold under 1400
— zerohedge (@zerohedge) August 23, 2013
Sure enough, minutes after ramping above the critical $1,400 level, gold has been slammed lower instantaneously, twice in the last hour, as a result of a rumored trade originating at the BIS (and specifically the desk of our old friend Benoit Gilson) slamming down the entire bid stack in a desperate case of "banging the open", giving up gold's gains from Friday's close...
We suspect the night is young for this battle...
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