As we approach the European close, the dollar index just spiked and precious metals (and crude) were pummeled. Gold futures tumbled on massive volume as over $4 billion notional was purged instantaneously...
Over 30,000 contracts ripped through gold futures - over $4.2 billion notional - in the space of a minute. That's around 10% of a normal days' volume.
(Click on image to enlarge)
NOTE - $1281 is the 100-day moving average that has been an equilibrium level for the last few weeks...
Silver was hit too as the dollar spiked...
(Click on image to enlarge)
Notably Gold remains the only winner post-Saudi chaos... for now...
(Click on image to enlarge)
Finally, we thought this was interesting...
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.