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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Mon, 01/06/2014 - 11:27 | 4304292 putaipan
putaipan's picture

why can't i buy this fucking dip?

Mon, 01/06/2014 - 11:24 | 4304297 hungarianboy
hungarianboy's picture

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

Mon, 01/06/2014 - 11:32 | 4304314 Harlequin001
Harlequin001's picture

Guess it didn't last very long did it?

Mon, 01/06/2014 - 11:33 | 4304319 Stackers
Stackers's picture

shocking

Mon, 01/06/2014 - 11:37 | 4304341 BaBaBouy
BaBaBouy's picture

Ben Shalom's Last Hurrahs...

Mon, 01/06/2014 - 11:41 | 4304359 Divided States ...
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

 

Mon, 01/06/2014 - 11:47 | 4304374 malikai
malikai's picture

May 2010.

Also, https://www.quantsig.net/live.html

It's been setting up for days.

Mon, 01/06/2014 - 12:01 | 4304402 dryam
dryam's picture

Here's the fat finger....

 

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

Mon, 01/06/2014 - 12:15 | 4304424 nope-1004
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.

 

Mon, 01/06/2014 - 12:16 | 4304433 Kaiser Sousa
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.....

Mon, 01/06/2014 - 12:41 | 4304530 kralizec
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?!

Mon, 01/06/2014 - 12:46 | 4304566 Jonas Parker
Jonas Parker's picture

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

Mon, 01/06/2014 - 12:54 | 4304581 Deo vindice
Deo vindice's picture

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

Mon, 01/06/2014 - 12:55 | 4304593 MillionDollarBogus_
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...........

 

Mon, 01/06/2014 - 13:11 | 4304637 ArrestBobRubin
ArrestBobRubin's picture

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

Mon, 01/06/2014 - 13:13 | 4304660 ebworthen
ebworthen's picture

Works like a charm:  https://adblockplus.org/en/firefox

Mon, 01/06/2014 - 16:50 | 4305421 Manthong
Manthong's picture

Yawn.. metals charts are like so boring.

Wake me after the Chinese announce their 4000 tonnes.

Mon, 01/06/2014 - 18:56 | 4305781 Pseudonymous
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.

Mon, 01/06/2014 - 19:04 | 4305805 MeelionDollerBogus
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.

Mon, 01/06/2014 - 13:16 | 4304655 dow jones 20000
dow jones 20000's picture

adblock

Mon, 01/06/2014 - 17:35 | 4305567 BTFDemocracy
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?

Mon, 01/06/2014 - 18:59 | 4305789 MeelionDollerBogus
MeelionDollerBogus's picture

I know, what a name.

Mon, 01/06/2014 - 13:53 | 4304776 Uncertain T
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.

Mon, 01/06/2014 - 18:40 | 4305734 Hobbleknee
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?

Mon, 01/06/2014 - 18:47 | 4305757 MeelionDollerBogus
MeelionDollerBogus's picture

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

Mon, 01/06/2014 - 12:46 | 4304562 resurger
resurger's picture

 

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

Mon, 01/06/2014 - 13:30 | 4304706 malikai
malikai's picture

Yeah. Cut that finger off!

Feed it to pirhanas.

Mon, 01/06/2014 - 22:30 | 4306510 Al Gorerhythm
Al Gorerhythm's picture

That's gotta hurt.

Mon, 01/06/2014 - 12:20 | 4304413 oak
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.

Mon, 01/06/2014 - 12:18 | 4304447 malikai
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.

Mon, 01/06/2014 - 17:59 | 4305643 MeelionDollerBogus
MeelionDollerBogus's picture

divergence OF WHAT?

Your assertion is like saying "the other is better"

other WHAT?

You're missing information.

Mon, 01/06/2014 - 13:08 | 4304625 Race Car Driver
Race Car Driver's picture

> ... the charts indicate ...

 

Lol.

Mon, 01/06/2014 - 14:21 | 4304928 malikai
malikai's picture

It's not meant for everyone.

Wed, 01/08/2014 - 10:00 | 4304956 oak
oak's picture

rcd, you start amusing me now.

Mon, 01/06/2014 - 12:46 | 4304547 ebworthen
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!!!

Mon, 01/06/2014 - 12:50 | 4304567 resurger
resurger's picture

Maybe its 'Tradition'

Mon, 01/06/2014 - 11:42 | 4304362 Big Corked Boots
Big Corked Boots's picture

Jamie needs a new pair o' shoooz!

Mon, 01/06/2014 - 11:46 | 4304365 kaiserhoff
kaiserhoff's picture

 One of many reasons to avoid stop losses. 

Mon, 01/06/2014 - 12:54 | 4304588 resurger
resurger's picture

Sexy Kurtosis.

Mon, 01/06/2014 - 11:35 | 4304344 Rubbish
Rubbish's picture

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

Mon, 01/06/2014 - 11:39 | 4304348 Sudden Debt
Sudden Debt's picture

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

Mon, 01/06/2014 - 11:53 | 4304381 Canadian Dirtlump
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.

Mon, 01/06/2014 - 11:29 | 4304315 slotmouth
slotmouth's picture

Why buy something that is so obviously manipulated?

Mon, 01/06/2014 - 11:34 | 4304325 Harlequin001
Harlequin001's picture

Name one thing that isn't.

Mon, 01/06/2014 - 11:37 | 4304339 hungarianboy
hungarianboy's picture

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

Mon, 01/06/2014 - 11:36 | 4304346 pods
pods's picture

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

Cramer told me so.

pods

Mon, 01/06/2014 - 16:12 | 4305289 akak
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.

Mon, 01/06/2014 - 16:51 | 4305429 Simplifiedfrisbee
Simplifiedfrisbee's picture

Now, that was hilarious!

Mon, 01/06/2014 - 11:57 | 4304395 Obama_4_Dictator
Obama_4_Dictator's picture

Ben Bernakes beard? Yellin's bowl cut?

Mon, 01/06/2014 - 13:05 | 4304617 jmcadg
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.

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