WHAT SUCH A SMALL THING COULD MEAN FOR THE FUTURE OF PRECIOUS METAL MARKETS Gns+Research
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FROM ZERO HEDGE:
A Millisecond Analysis Of The Latest Gold Smackdown
By Tyler Durden
Created 12/05/2012 - 21:20
[1]On December 4th, 2012 at 47 minutes and 13.1 seconds after midnight, 2,035 February Gold Futures contracts GCG3 took the market down $10 as fast as the exchange could execute the order. This invisible hand that decided that that was the perfect time to execute a trade for over 200,000 ounces and $345mm notional of gold is exposed in oh-so-visible a manner by Nanex [2]'s eagle-eyed millisecond-by-millisecond charts below. As the day wore on, there were more of these sudden 'unexplained' price moves. Cue 'Twilight Zone' music...
Via Nanex [2]:
1. 30 Second interval chart showing trades for the first 9 hours of trading in the February 2013 Gold Futures Contract (GC.G13). The midnight crush in the first drop on the left.
[3]2. Zoom of chart above showing about 45 seconds of time. Thin gray line is quote spread.
[4]
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