from TF Metals Report:
As luck would have it, I had something I needed to run by our new pal Andrew Maguire this morning. Without looking at the time, I rang him up at about 9:45 EDT…15 minutes before the London PM fix. What fortuitous timing!
Today’s raid commenced shortly thereafter. Andy and I are visiting and catching up when suddenly I hear him say “Whoa. Would you look at that!”. I didn’t even have my quote screen up so I had no idea what he was seeing. Gold had been sliding lower on relatively light volume into the fix when, suddenly, there was a dumping of 6,000 contracts. This caused a $7 drop in price inside of one minute. See chart below: