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Gold Plunges Back Below $1300 As “Someone” Dumps $2.3 Billion In Futures

With The Fed proclaiming bubbles in some of the most-loved segments of the stock market and explaining that the economy is doing “ok” but they must remain dovish for longer for feasr of “false dawns”… what better time than now to dump $2.3 Billion notional in futures… of course the dump in gold’s anti-status quo price coincided with an odd v-shaped recovery in stocks… Gold remains above its pre-June FOMC levels still.

The break was precipitated by the sale of over 17,000 contracts (or over $2.3 Billion notional)…

20140715_gold_1ST GRAPH

But for now gold remains above FOMC levels…

Extract : Zeroedge.com

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"For a mountaineer, the important things are the effort, the posture and the muscles. The rope that holds him serves no purpose when everything works but it gives him a sense of security. In the same way, all gold does is ensure confidence; it's a safe haven."