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Gold Slammed After Someone Pukes $4 Billion Notional In Gold Futures

As we approach the European close, the dolar 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.

NOTE - $1281 is the 100-day moving average that has been an equiliborum level for the last few weeks...

Silver was hit too as the dollar spiked...

 

Notably Gold remains the only winner post-Saudi chaos... for now...

 

Finally, we thought this was interesting...