Because nothing says unrigged like a collapse across the commodity complex (gold, silver, copper, and crude) as London's Gold Fixing Company auction [4] takes place... Or did the Fed leak its minutes like it did in 2013? [5] It appears the real reason is the early release of Swiss Gold Referendum poll data that shows a drop from 44% "Yes" to 38% "Yes".
[6]
No it's not the USD!!
[7]
* * *
Subtle!!
10:48:31 - 2270 Gold futures and 596 Silver futures trade in 1 second $GC_F [8] $SI_F [9]
— Eric Scott Hunsader (@nanexllc) November 19, 2014 [10]
* * *
There is a 3rd possibility...
SRG SWISS REF poll will be announced unofficially at around 11am EST.
It is a private survey so might be out already...
The last survey had 17% undecided (with 44% supported "Save our Gold", 39% were opposed)
* * *
Data is released:
2. SRG-Umfrage: Gold 38% Ja (-6) zu 47% Nein (+8), 15% (-2) unentsch., das Nein baut sich auf #CHvote [11] #abst14 [12] #goldinitiative [13]
— gfs.bern (@gfsbern) November 19, 2014 [14]
So a big drop in "Yes" and EURCHF reacts...
[15]
and then gave it all back...
[16]
