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Gold Hammered Down In Sunday Night’s 2-Minute, $2.7 Billion “Unprecedented Attack”



Astute analyst Bron Suchecki of the Perth Mint points out that the selling began on the COMEX in the August futures contract:

“Below is a 1 second time interval chart of the August futures contract from Reuters. The area in the red circle is the 4 seconds of the Nanex chart above, which puts the move into context.21-07-2015_2

Note that the volume traded in this one minute was 7,164 contracts, which at 100 ounces a contract is about 22 tonnes.”

That a single entity or a group acting in concert would choose to sell a position in huge volumes at a time when an absence of buyers would guarantee them a poor price is a sign that forcing down the price was the likely objective of the concentrated selling.

FULL ARTICLE

Two Years Later: Gold Was Right About The ‘Dollar’

Two Years Later: Gold Was Right About The ‘Dollar’ As Economists Should Have Been Far Less Giddy About It All by Jeffrey P. Snider Alhambra Investment Partners A little over two years ago, in the middle of April 2013, there was a gold crash that came seemingly out of nowhere. Worse, for gold investors anyway, that crash was repeated just a few months later. Where gold had stood just shy of $1,800 an ounce at the start of QE3, those cascades had brought the metal price down to just $1,200. For many, especially orthodox economists, it heralded the end of the “fear trade” and meant, unambiguously, that the recovery had finally at long last arrived. Read the full story here... http://www.alhambrapartners.com/2015/05/26/two-years-later-gold-was-right-about-the-dollar-as-economists-should-have-been-more-less-giddy-about-it-all/