Last week we reported what appeared to be a glitch as gold was flash smashed $30 under $1700 in a single tick late in electronic access market trading.

Today it is apparently silver’s turn, as numerous platforms recorded a flash crash in silver from $34.10 to $31.80, almost immediately regaining the $34 level. 

This time the $2.30 nosedive might not have been a data glitch, as the chart indicates several ticks on the move down, as well as at least 5 trades occurring on the violent move back through $34.


 

Gold was also hit, flash crashing from $1750 to $1715:

This just re-emphasises why it is absolutely imperative that you DO NOT TRADE USING MARGIN, and instead stack physical metal.  If you are trading with margin you can count on your pocket being picked by the bullion bankster criminals!

Whether a data glitch or a real algo event, the smash was so instantaneous that it has already been erased from the charts:

Kitco however still shows $31.80 as the day’s low:

MARKET IS CLOSED
(Will open in 13 hrs. 46 mins.)
Metals Date Time
(EST)
Bid Ask Change Low High
Buy gold Gold Charts  GOLD 11/26/2012 17:14 1749.40 1750.40 -2.50 -0.14% 1716.20 1753.40
Buy silver Silver Charts  SILVER 11/26/2012 17:14 34.18 34.28 +0.05 +0.15% 31.80 34.34
    • Silverdoc;

      You do financial journalism a great service by making these lying cheating manipulating scumbags accountable. Events like these show that Banksters are not sophisticated wonder traders, but are cheap criminals who will do anything for a buck, since they are too dumb and ignomious to trade honestly. 

  1. I think these were trades conducted outside of the bid-ask spread… possibly even with different timestamps than when they were reported on the feed.  They should not be graphed by kitco, but appear to have been.

    • The manipulations are ending very soon. For example with silver about one year ago, it took the cartel about one third of the US annual silver production in paper to crush its price by 5$ or even more. Now, it takes the cartel about the whole US annual silver production in paper to crush its price by only 2$ or less.

  2. I wonder whether derivatives would have their stop losses triggered over this. I’ve had lesser such spikes clean me out.
    There’s a need to categorize crazy spikes. By who registered and ignored it, level of retracement, etc.

  3. I’m sure that the flash smash happened and we can trust it was the usual suspects behind the smash. The question in my mind is who are the opposong forces that were ready for it and reciprocated sending the price back up emmidiatly. It’s interesting how quickly someone is responding to these attacks on the price, amazing! It’s not likely that the CFTC will launch any investigations either!

  4. Just recently, I’ve realized that there are more glitches happening than before in the markets. Perhaps it’s just an excuse for the cartel’s failed raids. I’ve also seen this price spike recently and I’ve took a picture of it on “http://silverprice.org/”.
     
     

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