There are no longer any markets, and there is no price discovery...there are only Central Bank interventions and price 'management' [read: manipulation].
When over 18,000 contracts (or $2.3 billion in notional Gold) is 'dumped' in 10 minutes, this is not 'price discovery' but a Central Bank artificially 'keeping the lid on' the Gold (and Silver) bullion price to keep the fiat paper game running a little while longer.
Why....harrumph.....we ain't Venezuela, you know!
- At least not quite yet, but we're headed in that direction.
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