The graph above is the Comex August paper gold derivative, sometimes referenced as a “contract.” The $500mm million number is from Zerohedge and likely includes all the contract months. At exactly 3:56 EST a clearly motivated seller decided it was the best time to unload 2,741 August pieces of paper gold, driving the market down $4.50
INTERESTINGLY, the very next minute, some entity BOUGHT 2,373 August paper gold contracts, nearly offsetting the amount of contracts sold. That’s why the price snapped right back up. Also interesting is the fact that the apologists on behalf of those manipulating the paper gold market were dead silent as to the source of this large sell – i.e.
The question I have is whether or not the flash crash sale was perpetrated to induce the hedge fund black
Unfortunately, whoever decided to implement this operation strategically executed it one day AFTER the reporting
That said, it certainly feels like there’s real buyers of gold and silver accumulating positions at these levels. I know from looking at the data on a daily basis that the Indians are actively importing gold currently. For now, it looks like the General Sales Tax “
What is of interest, at least to me, is the fact that the market has a bullish tone in what is normally one of the slowest seasonal periods of the year. In another month the Indians will be gearing up for their peak buying period. Also of note is that fact that U.S. retail coin buyers have ramped
- Source, Dave Kranzler