Gold Drops Below $1200 On Heavy Volume, Silver Freefalls To Feb 2010 Lows
It appears the machines forgot the shift in DST across the pond and started their European close flush a little early. Someone/something decided it was an opportune time to dump thousands of contracts of gold and silver futures this morning - clearly ignoring Alan Greenspan's advice. Gold ETF holdings are now back at levels first seen in April 2009. Gold's break below $1,200 likely brought some momentum chasers but Silver is in freefall, down over 5% and back to Feb 2010 lows. WTI Crude also broke below the crucial $81 level...
Gold
And Silver...
and from FOMC...
Gold ETF holdings are back at levels first seen in April 2009....
and one more thing....
Charts: Bloomberg
Disclosure: Copyright ©2009-2014 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every time ...
more