Gold Flash Crashes, Halts Trading As "Velocity Logic" Circuit Breakers Triggered

Tyler Durden's picture

UPDATE: Gold futures are back in the green for the day...

and Bitcoin is back under $1000...


 

 

 

Rumors of a 'fat finger' abound from the gold futures pits but the precious metals complex just collapsed instantaneously... and the market was halted for the now traditional 10 seconds as circuit breakers were triggered, only this time instead of Stop Logic the event was "Velocity Logic" or lack thereof. Of course, the timing is perfect as it occurs right before the first POMO of the new year.

 

With massive volume flying though the futures markets...

 

Taking us back near 2014 lows...

 

Courtesy of Nanex, the clear gold trading halt shown below:

 

Some more pretty charts showing the slam:

 

Meanwhile, silver...

and the ETF:

So... a New York Fed fat finger?

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putaipan's picture

why can't i buy this fucking dip?

hungarianboy's picture

I'm telling you. Now it's time to buy! Look at the massive volume.

Harlequin001's picture

Guess it didn't last very long did it?

BaBaBouy's picture

Ben Shalom's Last Hurrahs...

Divided States of America's picture

How come the fat finger 'mishap' always happen to the Gold futures and not the ES futures....this is a fuckin joke

 

dryam's picture

Here's the fat finger....

 

....................../´¯/)
....................,/¯../
.................../..../
............./´¯/'...'/´¯¯`·¸
........../'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\...  FED!

nope-1004's picture

Currency wars.  Gold won't be allowed over 1250, silver over 22, TNX over 3 until the revaluation.  Just keep stacking and accept the crookedness for what it is:  Total desperation of a failing (already dead) system.

 

Kaiser Sousa's picture

exactly....

brought 20 Silver Towne 1 0z bars into the collective last friday...

thanks all u fucking sociopath bankers for allowing me to nip around the edges for 2yrs and counting....

DEATH TO THE MONEYCHANGERS.....

kralizec's picture

Another reason to keep stacking...once all available supplies are off-market WTF these assholes gonna do to prop up their bullshit?!

Jonas Parker's picture

Uh... tungsten? No, wait! It's already been tried...

Deo vindice's picture

That is some fat finger. It covered the buttons for gold AND silver at the same time.

MillionDollarBogus_'s picture

Tyler, how about a graph that shows the drop in ZH traffic after you started adding those idiotic auto-starting audio ads..???

Wow....this site has reached a new low...........

 

ArrestBobRubin's picture

Use Firefox and Adbloc, you won't see or hear any ad

Manthong's picture

Yawn.. metals charts are like so boring.

Wake me after the Chinese announce their 4000 tonnes.

Pseudonymous's picture

I would not recommend the latest versions, since the Adblock Plus team really lost all trust in them by being co-opted by advertisers such as Google and allowing "non-intrusive advertising" and releasing totally non-functioning versions, etc. I would rather recommend the last good version, namely 2.1.2 or forks (alternative projects based on the same code) such as Adblock Edge.

MeelionDollerBogus's picture

I've never had a problem. Part of adblock plus is that it allows my selections to be shared with others so we're all group-blacklisting.
Plus I also use noscript so ads don't even have a chance to get ready to get blocked by adblock when they require a site served up that's blocked first by noscript.

It's been a long time since I've had to actually manually select ad frames & images to block, most of it's very clever & pre-set. It was always, however, my expectation that I would manually block each ad/site pattern to my choosing when I see one I don't like. It's just a convenience if I don't have to. Far as I know I can block any element on any page (even the ones I need to see to use the site) using adblock.

BTFDemocracy's picture

There's a fine line of ads vs intrusiveness.

For many people who actually have to show up to a job, on a site such as ZH, where one can get away reading at work since it looks so plain, having audio ads really gives away what you're doing at your work computer when "BUY NOW" starts blaring in office.

Also, user DOW JONES 20000- why were you so pessimistic when choosing your screen name?

Uncertain T's picture

Add the "DO NOT TRACK ME" application to your browser...Free... Works great, as most ads are eliminated here and elsewhere... The only annoyance are those big blank white spaces.

Hobbleknee's picture

Do you donate to zerohedge, or do you just whine like a bitch when the ads from this awesome free service annoy you?

MeelionDollerBogus's picture

STILL not using firefox+adblock+noscript?
I never see this.

resurger's picture

 

....................../´¯/)
....................,/¯../
.................../..../
............./´¯/'...'/´¯¯`·¸
........../'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\...  Jammie Dimon !

malikai's picture

Yeah. Cut that finger off!

Feed it to pirhanas.

oak's picture

malikai, the charts indicate that gold has more room for upside, until diverg becomes much positive. the 10yr notes yield might  be goinging down, wich will benifit the gold price. the yield has been too high since july 2012. fed must un-taper to bring it down. happy new year to all.

malikai's picture

A positive diverg equates to upside potential, while a negative indicates potential downside.

Output is the market implied price.

I wish I could say there was a lot of short term upside in gold right now, but having seen this pattern in the hours charts for about 6 months now, I know that's not likely.

MeelionDollerBogus's picture

divergence OF WHAT?

Your assertion is like saying "the other is better"

other WHAT?

You're missing information.

Race Car Driver's picture

> ... the charts indicate ...

 

Lol.

malikai's picture

It's not meant for everyone.

oak's picture

rcd, you start amusing me now.

ebworthen's picture

Divided States said: 

"How come the fat finger 'mishap' always happen to the Gold futures and not the ES futures....this is a fuckin joke"

Intangibles = Good.

Tangibles = Bad.

PONZI!!!

Big Corked Boots's picture

Jamie needs a new pair o' shoooz!

kaiserhoff's picture

 One of many reasons to avoid stop losses. 

Rubbish's picture

The feds will be passing the hat around soon, we need to short Gold, please donate we've lost control !

Sudden Debt's picture

you'd better be amazed... just imagine how many billions that little trick costed the fed thus taxpayers...

Canadian Dirtlump's picture

The good news is that this overt provable illegality will only carry on until it can't. The bad news is, given it's at teh behest of the government and thpse who run it from the shadows the timing is murky to say the least.

slotmouth's picture

Why buy something that is so obviously manipulated?

Harlequin001's picture

Name one thing that isn't.

hungarianboy's picture

Exactly, name one thing that isn't manipulated? :D

pods's picture

Twitter stock. Solid fundamentals, poised for growth for the future.

Cramer told me so.

pods

akak's picture

Watching Cramer's coke-fueled, frenzied, carefully-scripted faux-rampages as he shamelessly delivers his pro-Wall Street, pro-Fed, "stocks for the long haul!" propaganda never fails to leave me feeling all warm and fuzzy.  I think it's the rolled-up shirt sleeves which add the air of unassailable authority that really does it.

Obama_4_Dictator's picture

Ben Bernakes beard? Yellin's bowl cut?

jmcadg's picture

Are you kidding me! That beard is trimmed and plucked to perfection. It's a work of art. True genius!

Mr Yellen, yep I'll give you that. No time spent there. Or anywhere else no doubt.