Size Seller Of Futures Sends Spot Gold To New All Time High Of $1725

As Asia opens, with both the Nikkei and the Kospi printing well below 4%, a number likely to end far lower, we take a quick look at our own futures, where we notice that following a rather substantial dump which saw nearly 400k ES contracts change handles at around 6:10pm bringing the stack 10 handles lower, ES is now just barely above 1100, or 1105 to be specific at last check. The major positional offload also sent gold surging by over $7 and the shiny metal has just hit another record high in the $1723 ballpark. The overnight session should be relatively quiet aside from a Chinese CPI print which is expected to come at 6.4% but which will be goalseeked to indicate that the economy is slowing down, a move which will probably be attributed to the ongoing "revaluation" of the Yuan, which we expect will again be fixed by the PBoC at a new record high price against the USD shortly. We anticipate quite overnight trading until Europe once again opens, at which point Italy will as usual be the focus of numerous halted stocks if not entire markets.

ES:

Gold: