Gold futures worth almost $2 billion, some 15,000 contracts, were dumped on the market in less than two minutes yesterday.
The sharp decline was not warranted and suggests one or two market participants wanted the price lower.
Such sell offs have been seen frequently in recent months and tend to be short lived. Smart money will again accumulate gold on the dip.
Gold and Silver Bullion – News and Commentary
Gold falls on pressure from stronger dollar, rate hikes in focus (Reuters.com)
Asian Stocks Advance; Dollar, Treasuries Steady (Bloomberg.com)
Gold, Euro Slump As Merkel Admits “New Elections Are The Better Way” (ZeroHedge.com)
Yellen Says She’ll Leave Fed Once Powell Sworn in as Chair (Bloomberg.com)
No EU deposit insurance if bad loans not cut: ECB’s Draghi (Reuters.com)
Gold Drops To Key Technical Support After $2 Billion Purge (ZeroHedge.com)
Gold is rising despite threat of higher interest rates – Rickards (DailyReckoning.com)
Thorne, Magic Money, and Cyberbucks: Three pre-Bitcoin monetary experiments (JPKoning.Blogspot.ie)
The Fed Plans For The Coming Recession – Next-Generation Crazy (DollarCollapse.com)
ECB wants to end deposit protection & offer savers ‘appropriate amount’ of their own money (RT.com)
Gold Prices (LBMA AM)
21 Nov: USD 1,280.00, GBP 967.04 & EUR 1,090.69 per ounce
20 Nov: USD 1,292.35, GBP 974.82 & EUR 1,096.43 per ounce
17 Nov: USD 1,283.85, GBP 969.31 & EUR 1,088.19 per ounce
16 Nov: USD 1,277.70, GBP 969.01 & EUR 1,085.53 per ounce
15 Nov: USD 1,285.70, GBP 976.62 & EUR 1,086.29 per ounce
14 Nov: USD 1,273.70, GBP 972.47 & EUR 1,086.59 per ounce
13 Nov: USD 1,278.40, GBP 977.59 & EUR 1,097.89 per ounce
Silver Prices (LBMA)
21 Nov: USD 17.00, GBP 12.85 & EUR 14.50 per ounce
20 Nov: USD 17.15, GBP 12.94 & EUR 14.56 per ounce
17 Nov: USD 17.09, GBP 12.95 & EUR 14.49 per ounce
16 Nov: USD 17.04, GBP 12.92 & EUR 14.48 per ounce
15 Nov: USD 17.12, GBP 13.00 & EUR 14.45 per ounce
14 Nov: USD 16.94, GBP 12.92 & EUR 14.45 per ounce
13 Nov: USD 16.93, GBP 12.93 & EUR 14.53 per ounce
Recent Market Updates
– Money and Markets Infographic Shows Silver Most Undervalued Asset
– Is New Fed Chief A “Swamp Critter Extraordinaire”?
– Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe
– UK Debt Crisis Is Here – Consumer Spending, Employment and Sterling Fall While Inflation Takes Off
– Protect Your Savings With Gold: ECB Propose End To Deposit Protection
– Internet Shutdowns Show Physical Gold Is Ultimate Protection
– Gold Coins and Bars Saw Demand Rise 17% to 222T in Q3
– Prepare For Interest Rate Rises And Global Debt Bubble Collapse
– Platinum Bullion ‘May Be One Of The Only Cheap Assets Out There’
– World’s Largest Gold Producer China Sees Production Fall 10%
– German Investors Now World’s Largest Gold Buyers
– Gold Price Reacts as Central Banks Start Major Change
– Why Switzerland Could Save the World and Protect Your Gold
