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Gold & Silver Suddenly Slammed As Dollar Surges

Around 1030ET, The US Dollar suddenly went bid, driving broad-based commodity weakness. Silver had been creeping higher all morning but it appears someone wanted to keep it below its 50-day moving average and has thrown 1000s of contracts short at it, slamming the precious metal to the lows of the day... Gold also saw a sudden heavy volume monkey-hammering...

Silver back below 50DMA...

 

Gold slammed too...

 

Which all started as The USDollar went bid...

 

On the bright side, we asssume China will be backing up the truck at newly low prices...

Dear China, here is your chance to buy another 20 tons of gold at lower prices, signed BIS

Charts: Bloomberg