Morgan Stanley Quants: Over $4 Billion In Forced Selling In Gold, Silver ETFs Today

For those following the carnage in paper gold and silver, i.e., GLD and SLV, and especially such across levered precious metal names such as UGL and AGQ, here is what you may have to look forward to, courtesy of Morgan Stanley's Quant desk: 

• Levered ETF rebalancing needs are ~$3.5bn to sell in SLV and ~$650mm to sell in GLD today on QDS estimates.

• SLV and GLD are having their worst days since 2006