UPDATE: Gold futures are back in the green for the day...
[8]
and Bitcoin is back under $1000...
[9]
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 [10]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.
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With massive volume flying though the futures markets...
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Taking us back near 2014 lows...
Courtesy of Nanex [13], the clear gold trading halt shown below:
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Some more pretty charts showing the slam:
[15]
[16]
Meanwhile, silver...
[17]
and the ETF:
[18]
So... a New York Fed fat finger?