Gold Price Falls on Selling of Gold Futures Equal to 3 Million Ounces in 30 Minutes

◆ Gold price falls to a three-month low as concentrated selling of COMEX gold futures contracts equal to over 3 million ounces are sold in 30 minutes

◆ 33,596 contracts were aggressively sold in the 30 minutes between 10:00 and 10:30 a.m. New York time which is more than triple the 100-day average for that time of day

◆ This pushed the most active gold contract to as low as $1,448.90 an ounce, the lowest since August 5 as reported by Bloomberg (see chart below)

◆ It is all very predictable and has been going on for many years now. It is another exaggerated and manipulated “correction” either for profit purposes or official intervention to depress gold prices

◆ Gold closes just 0.4% lower on the day which was encouraging and support is at $1,450/oz level and then at the $1,400/oz level

◆ The price weakness provides another gift to gold and silver bullion coin and bar buyers focused on long term wealth preservation and growth



NEWS and COMMENTARY


Gold falls to 3 month low after worst weekly fall in more than 2 years

Gold slips to over 3-month low as equities rise on ‘risk-on’ sentiment

Stocks in Asia Trade Mixed; Treasury Yields Drop: Markets Wrap

Wall Street slips as Trump, Hong Kong dampen mood

Investors wary as social unrest spreads from Hong Kong to Santiago

Protesters Paralyze Central Financial District: Hong Kong Update


Watch Video Here


GOLD PRICES (LBMA – USD, GBP & EUR – AM/ PM Fix)

11-Nov-19 1465.50 1458.70, 1144.41 1132.39 & 1328.33 1321.87
08-Nov-19 1466.85 1464.15, 1144.58 1142.62 & 1328.09 1328.13
07-Nov-19 1484.10 1484.25, 1153.44 1156.82 & 1339.40 1341.76
06-Nov-19 1488.55 1486.05, 1155.26 1154.51 & 1342.23 1341.31
05-Nov-19 1504.60 1488.95, 1166.37 1156.17 & 1352.18 1344.67
04-Nov-19 1509.20 1509.45, 1168.57 1169.52 & 1352.39 1353.98
01-Nov-19 1509.85 1508.80, 1165.76 1164.49 & 1354.79 1351.28
31-Oct-19 1506.40 1510.95, 1163.09 1168.57 & 1348.53 1356.53
30-Oct-19 1490.15 1492.10, 1156.65 1159.81 & 1340.39 1342.74
29-Oct-19 1492.75 1486.75, 1164.79 1155.20 & 1347.80 1338.37


SIGN UP FOR OUR AWARD WINNING MARKET UPDATES HERE

Mark O'Byrne

Also on news-goldcore-com

Videos

When will Silver Break Out? Is Triple Digit Silver Still on the Cards?

Is Gold Still in a Bull Market?

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

Blog posts

Quantitative Easing: A Boon or Curse?

Central banks’ massive Quantitative Easing (QE) programs have come under scrutiny many times since the central banks fired up the printing press and began quantitative easing programs en masse after the 2008-09 Great Financial Crisis. However, the increase in central bank assets due to quantitative easing programs during the crisis pale in comparison to the […]

READ MORE

The Fed’s Inflation Gamble Continues

The fed’s inflation gamble continues… Are central banks trapped? Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price. Fed on Economic Recovery The Summary of Economic Projections (known as the dot-plots) released with the statement showed that committee members changed […]

READ MORE

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

Featured

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

When will Silver Break Out? Is Triple Digit Silver Still on the Cards?

Is Gold Still in a Bull Market?

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

Blog posts

Quantitative Easing: A Boon or Curse?

Central banks’ massive Quantitative Easing (QE) programs have come under scrutiny many times since the central banks fired up the printing press and began quantitative easing programs en masse after the 2008-09 Great Financial Crisis. However, the increase in central bank assets due to quantitative easing programs during the crisis pale in comparison to the […]

READ MORE

The Fed’s Inflation Gamble Continues

The fed’s inflation gamble continues… Are central banks trapped? Last week’s Fed statement and the press conference that followed proved to be the start of a US$90 (4.8%) decline in the gold price. Fed on Economic Recovery The Summary of Economic Projections (known as the dot-plots) released with the statement showed that committee members changed […]

READ MORE

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

Featured

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE