http://investmentresearchdynamics.com/todays-gold-price-take-down-operation-has-the-smell-of-desperation/
As soon as the Comex floor trading opened at 8:20 a.m. EST, nearly
4,000 contracts were dropped instantaneously onto the floor and into the
Globex system. This is over a half a billion dollars worth of gold –
over 10 tonnes of paper gold – in a nano-second. This amount
represents 47% of the amount of actual physical gold that was reported
to be available for delivery by the Comex yesterday. The sudden burst
in volume halted the Comex computer system for 10 seconds. The
contract bomb caused an immediate $16 plunge in the price of gold.
Over a period of 7 minutes from the time the Comex opened, over 14,000
contracts traded. This represented over 18% of the total volume in
Comex contracts that had traded in the previous 14 hours of trading
starting at 6 p.m. EST the night before.
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