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Thread: Gold dumps $48 in 1-minute

  1. #1

    Default Gold dumps $48 in 1-minute

    During Sunday night futures trading, Gold fell $1128 to $1080 in one minute. It has since rebounded and regained about half the loss trading at $1109 about an hour later. It wasn't at the open either. It had been trading a couple of hours already when it puked.

    That's a big move. Something fishy going on?
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.


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  3. #2

    Default re: Gold dumps $48 in 1-minute

    Here's the 5-minute chart...

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  5. #3

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    Default re: Gold dumps $48 in 1-minute

    WoW!
    "life can only be understood backwards, but it must be lived forwards" - soren kierkegaard

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  7. #4

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    Default re: Gold dumps $48 in 1-minute

    It appears it may have been a mini-flash-crash caused by stop-loss automated sell programming.

    The markets were closed in Japan, so there was very little stopping a quick free fall.

    The trigger looks like it was pulled when it hit $1130.

    Looks like when human beings saw the drop, they jumped back in. Now doing better.

    See Gold just got destroyed - Business Insider

    Currently back to $ 1,109
    Gold Price Today - 24hr USA Gold Spot Price Chart & History

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  9. #5

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    Default re: Gold dumps $48 in 1-minute

    Quote Originally Posted by tsptalk View Post
    ...Something fishy going on?
    With Gold?...Always
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  11. #6

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    Default re: Gold dumps $48 in 1-minute

    Quote Originally Posted by James48843 View Post
    It appears it may have been a mini-flash-crash caused by stop-loss automated sell programming.

    The markets were closed in Japan, so there was very little stopping a quick free fall.

    The trigger looks like it was pulled when it hit $1130.

    Looks like when human beings saw the drop, they jumped back in. Now doing better.

    See Gold just got destroyed - Business Insider

    Currently back to $ 1,109
    Gold Price Today - 24hr USA Gold Spot Price Chart & History
    Gold was down a lot Friday. Silver is also down now. I'm thinking this is more than someone pushing the wrong button or a rogue GOLD program. JMHO
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  13. #7

    Default re: Gold dumps $48 in 1-minute

    U -

    Did your system have a position in Dust, or did you close flat on Friday?
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  15. #8

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    Default re: Gold dumps $48 in 1-minute

    Quote Originally Posted by tsptalk View Post
    U -

    Did your system have a position in Dust, or did you close flat on Friday?
    Went to DUST at OPEN on FRI...Still in DUST
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  17. #9

    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by userque View Post
    Went to DUST at OPEN on FRI...Still in DUST
    Awesome! I hope it holds into the open for you. It looks like it will because it hasn't moved much in the last hour or two.

    I scalped a $7 move from $1103 to $1110 in the futures. That was a nerve wracking 15 minute trade because it was still bouncing around quite a bit at the time.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.


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  19. #10

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by tsptalk View Post
    Awesome! I hope it holds into the open for you. It looks like it will because it hasn't moved much in the last hour or two.

    I scalped a $7 move from $1103 to $1110 in the futures. That was a nerve wracking 15 minute trade because it was still bouncing around quite a bit at the time.
    Thanks. System actually called for a gap up open with further decline into the close, but with this anomalous price action tonight, anything goes.

    Sweet play! Maybe it'll eventually retrace and you can catch another trip before the days over.
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  21. #11

    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by tsptalk View Post
    During Sunday night futures trading, Gold fell $1128 to $1080 in one minute. It has since rebounded and regained about half the loss trading at $1109 about an hour later. It wasn't at the open either. It had been trading a couple of hours already when it puked.

    That's a big move. Something fishy going on?
    Maybe China selling gold caused it?

    China sells gold, sharply pulls down price

    https://in.news.yahoo.com/china-sell...134617922.html

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  23. #12

    Default Re: Gold dumps $48 in 1-minute

    Oh my, just saw the NUGT/DUST daily changes... -30.9% and +32.46% respectively... that is insane!

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