Gold Mini Flash-Crashes At Asian Open

Someone decided that the exact opening of Gold futures trading on a Sunday night - ahead of a holiday week in the US - was the perfect time to liquidate over $161 million notional of 'paper' precious metals contracts... Currencies were unmoved, stocks are leaking higher and bonds lower.

 

Admittedly the flush was modest in size (around a 0.5% drop and pop) but we are sure whover this gold-seller's fiduciary duty is owed to will not mind at all...

1500 or so contracts liquidated instantly... makes perfect sense.