10% paper market downspike

[vand]

Paper market shenanigans last night.

https://www.marketslant.com/article/silver-drops-10-1434-bounce-gold-trades-121850-reopen

This will have completely run a lot of traders' stops.

[ApisMellifera]

interesting... ey... caused by one trade that toppled. I guess someone really wanted to get out of their paper trade (good move? I reckon)

Here is a Zerohedge article

http://www.zerohedge.com/news/2017-07-06/silver-flash-crashes-japan-opens

a couple weeks ago, one sell order caused a flash in gold.

http://www.zerohedge.com/news/2017-06-26/gold-crashes-someone-dumps-2-billion-fat-finger-blamed

 

[sixgun]

There was a single at market 1400 SI contracts sale which triggered an HFT spike down. Only the computers could work that fast to take price down and up again in seconds. This was all HFT operated. Even if you were watching you would not have been able to benefit. i have not seen of anyone who bought spot physical at the lower prices. Indeed i doubt there was any physical for sale at the lower prices, so the chart of spot silver is misleading. If futures spikes down and spot does not follow it would show the market is broken so that wouldn't be revealed.

Indeed this will have flushed any recent long stop losses and margin called others. We have seen the metals flash crashed down into NFP today. The banks are long and are taking the long side of anyone going short. It makes me suspect NFP will be a miss and we should expect a rally.

i hear the usual culprits, the banks active in the metals markets are positioning long in the spot market. This is likely significant. When there are big moves in the futures, circuit breakers kick in but the spot [forex] market keeps going. This is all lined up for a big rise after NFP today.

[Pipers]

There is weakness in the Gold markets, with $1200 a very big hurdle for the bears to over come. If they do break down that resistance point then $1180 is next. Its all very exciting for me a stacker I have been watching this like a hawk.     

 

[craig12]

imagine if oil fell 10% it would be all over the news

[SilverSheriff]

Just typical that silver has a 'bad' week but £ Sterling also has one too, however prices with the european dealers cheaper today than last week