Someone Just Panic-Bid For Over $2 Billion Notional In Gold Futures...

Shortly after Mexico announced it would increase its FX hedging program due to inflation fears, someone decided it was the right time to buy over 17,000 gold futures contracts (over $2 billion notional), driving the precious metal up to its 100DMA once again...


Gold has been hovering around its 100DMA for 6 days...

And silver is also spiking...


hola dos cola shizzledizzle Wed, 10/25/2017 - 17:28 Permalink

Don't tell me the little spike was not related to the bigger one.So what happened?Acting on inside information that caused the little spike?Or was the little spike meant to get a good short upthere to start of the selling which was then hoovered up on the way down and locked in by the spiking it again resulting in a net difference?…

hola dos cola IntercoursetheEU Oct 24, 2017 6:27 PMFunny you say that. Was just looking at that simultaneously little spike in Ag and Au today. Any idea what caused it?

In reply to by shizzledizzle

dark fiber Wed, 10/25/2017 - 09:25 Permalink

We don't have true price discovery in gold either way it goes.  But either way, when reality hits you better have the metal. So stop paying attention to the paper scam.

HRClinton dark fiber Wed, 10/25/2017 - 10:56 Permalink

Lord Bankfine @ GS told us yesterday, that manipulated and oppressed gold prices are safer and more stable than BTC.Volatility due to Price Discovery is baaaad, dear sheeple. Buy Gold, GS Bonds or Plunge-Protected GS stocks. Oh, and as I recall, Bonds salesmen used that same line regarding price volatility for stocks. 

In reply to by dark fiber

Ink Pusher Wed, 10/25/2017 - 09:32 Permalink

~ Man-Ip-U-Lation ~The same 100% pure grade A bullshit on a different day.If there's paper available there are no shortage of suckers to buy it all, hook,line and sinker.In this case the paper is being used to devalue the physical.Same as it has been since the clowns discovered the all petro-fiats were terminally cancerous.If they wanted to really  "push ink" , they should have hired me.  

Al Huxley Wed, 10/25/2017 - 09:46 Permalink

That would be the chart-painting pig boys at the bullion banks, trying to draw in panicky 'I don't want to miss the boat' buyers before they dump 200K contracts into the market. Boys, you've been playing it a little long, these tricks are getting old.  Even the dumbest dogs stop going for the fake after a while if you never actually throw the fucking ball.

Quinvarius Wed, 10/25/2017 - 09:57 Permalink

I have the feeling that Gold's next large move is going to be 30-60% upwards over the course of a few months.  It just looks like it is in one of the repeating patterns it had at the start of the last uptrend many years ago.

BigWillyStyle887 Wed, 10/25/2017 - 10:21 Permalink

This shit is garbage. The fed is trying to guide the price of gold up SLOWLY but letting the banks peel off $$$ from volatilty. If the price goes too high they crush and if it goes down below their magical price point they smash to the upside.  Fuck this