Wednesday, November 5, 2014

Dumping $1.5 Billion In Gold Futures At 00.30 ET

For the 5th day in a row, "someone" has decided that 00.30ET (11 am IST) 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...
Dumping $1.5 Billion In Gold Futures At 0030ET

and silver too..
Dumping $1.5 Billion In Gold Futures At 0030ET

One more random thing... the oddly spurious correlation between gold prices and Japanese bank VaR proxies is back again
Dumping $1.5 Billion In Gold Futures At 0030ET

No comments:

Post a Comment