The Phaserl


Gold Plunges Below “Crucial Level”, Lowest Since Oct 2009 On $2 Billion Notional Flush

from Zero Hedge:

With the world closest to World War 3 since the cold war era and Russia about to unleash escalating sanctions of Turkey, it makes perfect sense that ‘investors’ would want to purge themselves of precious metals. Someone decided that Friday after Thanksgiving would be the perfect time to dump over 18,000 contracts (around $1.9 billion notional) sending the price of gold futures to their lowest since Oct 2010, below what Goldman called a “crucial level.”

Over 18000 contracts dumped…


Sending gold futures prices to Oct 2009 lows…


As Goldman notes, in Gold, the critical level is 1,068-1,066. In Silver, support spans 13.98-13.83.

Gold Daily/Weekly – The level to watch in Gold is 1,068-1,066. This includes an ABC equality target off the January high and the trend across the lows since Dec. ’13.

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3 comments to Gold Plunges Below “Crucial Level”, Lowest Since Oct 2009 On $2 Billion Notional Flush

  • Craig escaped from Detroit

    Wow. Gold & Silver on SALE (Black Friday SALE). Door buster prices!!!

    Hurry to get YOURS NOW. Supplies are VERY Limited and when it’s Gone it’s GONE.

    People will be falling over each other to get some when things come crashing down.

    Don’t be stuck without your own supply,, hurry now,, buy some.

  • Barry

    crime scene America, the world’s nemesis

  • tomche

    Lemme see….about 2 billion dollars in paper gold contracts dumped at 1 time into the market. Oh yea sure, they were concerned about getting the best price…
    Why isn’t the CFTC looking onto this blatant manipulation in the metals?? Is there nothing we can do?
    Wow…the blatant criminality is just so IN YOUR FACE, it’s shocking…and extremely disturbing

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