I'm sure you're right...but feel this turbulence in commodities, currencies...in minutes...will not go un-noticed.....
AUDUSD moved almost a penny in less than an hour.....
We gold longs left licking our wounds....with such hi expectations for Friday - dashed.
Doing the math....16,000 Gold contracts @4,500 / contract is "only" USD 72 million money down (in contracts - each gives possession of 100 ozs). That is NOT a lot of money.
So, I figure, 16,000 contracts *100 ozs *$ 1270 = 2.032.000.000, Yep ....2 Billion (that cost them only 72 Million)
$20 price move, by 100 ozs = $2,000 / contract = 32M profit? Not bad for 30 minutes work.
So, the Fed? An investment Bank(s)? GS?
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