Loading ...Because Nothing Says “Best Execution” Like Dumping $1.5 Billion In Gold Futures At 0030ET
Submitted by Tyler Durden on 11/05/2014 01:07 -0500
For the 5th day in a row, “someone” has decided that 0030ET would be an appropriate time (assuming the ‘seller’ is an investor who prefers best execution rather than the standard non-economically-rational share-repurchaser in America) to be dumping large amounts of precious metals positions via the futures market. Tonight, with over 13,000 contracts being flushed through Gold – amounting to over $1.5 billion notional, gold prices tumbled $20 to $1151 (its lowest level since April 2010). Silver is well through $16 and back at Feb 2010 lows. The USDollar is also surging.
The timing of the dump is right as Japanese trading breaks for lunch
Gold dumped…
