Something Appears To Be Going On With Gold

Something appears to be happening to gold. That something is either China finally revealing its true gold inventory, which is unlikely, or, more likely, the biggest fat finger in the history of gold, as a liquidity testing algo goes absolutely insane in the pre-open period (and loses its job on the BIS’ payroll). Or, most likely, just an ongoing bad print.

… and the algo, or the bad feed, or whatever, keeps going. $1400 now.

And… CTRL-Z. The liquidity test is complete as electronic market reopens for trading.

And for those curious to find out what happened, speak to the programmer of whatever the liquidity test was that moved gold higher by $0.10 every second in 1 contract in a diagonal fashion.