It's Gold-Smashing Time...

For the fifth day in a row, gold has been clubbed like a baby seal on heavy volume in the pre-US-equity-market-open...

Over 15,000 contracts were pushed through in those few minutes with 8,500 on the downside (around $1.5 billion notional)

Silver is also getting hit...

Notably, Bitcoin has soared higher in the last few days, playing catch up to gold from the "sell everything" move in March...

As a reminder, as BofA recently noted, The Fed can't print gold (or Bitcoin).