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Despite Dollar Dump, Gold Just Got Slammed By $3 Billion Notional Sale

by Tyler Durden
Apr 18, 2017 9:58 AM

While the dollar index tumbles to its lowest level since days after the election..

Someone decided this morning was an opportune time to dump over 22,000 gold futures contracts (almost $3 billion notional) sparking a quick plunge in the precious metal...

Well, the manipulation didn't work. The gold price dropped like a rock then completely rebounded within an hour and is now "green" by $3.80 an ounce. In the past a $3 Billion Dollar gold futures dump would depress the gold price for weeks. The manipulators (The Central Banks and their proxy banks) are losing their grip on the market. Sooner or later all attempts to contain the price of precious metals will be useless.