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Gold Flash

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Spot Gold just fell out of bed with a small jolt taking it back to unch from early Friday trading. The move does look eerily similar to last night’s ‘flash crash’ style drop though recovery from the current move is less ebullient.

Chart courtesy of Bloomberg

The main driver of the move seems to be chatter about Japan not following the competitive devaluation path of the SNB anytime soon (in favor of a package of measures related more to monetary policies) though anything goes at this point (and especially interesting given our earlier post regarding the topic).

Was it a European bank selling more gold to fund itself? Hedge fund liquidation? Hillebrand needing some funding?

Silver also went bidless but has recovered most of its drop.

Chart courtesy of Bloomberg

Update: looking around FX, credit, rates, and equity futures – nothing else seems excited by this at all…WTI dropped a few cents but that was it.


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