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
“The timing of the dump is right as Japanese trading breaks for lunch”
Lunch time is a common time for taking a dump.
But, but, but... Kevin Demerit was just on the radio telling me gold was going to $2000 by year’s end. He promised to send me the insider’s report.